Basically, I recently sold a phone on eBay that, at the time, I genuinely thought was working. I monitored the delivery and as soon as it was signed for, I had to spend the money - my financial situation is a huge mess at the moment and I had overdue bills to pay, but this shouldn't be taken as an excuse.
Much to my horror, the buyer contacted me a few days later to inform me that the phone wasn't working and that he had opened a return case with eBay, so straight away this has allocated the funds from my PayPal account and put me into a rather large negative balance (just under £80 pounds).
The buyer returned the phone and I found out that it wasn't working and the buyer was completely correct.
Luckily I managed to completely fix the problem and have fully tested the phone with multiple sim cards and it is now fully working.
I'd like to know what will happen next ?. This is something that has never happened to me before so I'm really worried that paypal, or eBay, are going to raid my bank accounts for this negative balance and put me in even more financial trouble.
If i am unable to re-sell the phone quickly enough, how long will it be before eBay (or paypal) step in and refund the buyer ?
Will the negative balance remain on my paypal account until I can re-pay it or re-sell the phone ?
And will there be any time limit on repayment as I certainly wouldn't be able to re-pay all in one go - it will very likely have to be paid off as and when I can afford to send payments, or, obviously, until I can re-sell the phone.
Sorry for all the questions, but I'm quite stressed about this as it's just a big mess really. Thankyou.
