I just have a question if I begin loaning to others. (Expert loaner advice only please)

[Aero512]

If someone does not repay and they remove all communication with me, what should I do after opening a scam report? What proof would I put in the chargeback and what reason would I choose?

 

[Aero512]

anyone?

 

[EpicFooF]

There is no valid reason in paypal to chargeback for a loan, you do it at your own risk.

 

[Aero512]

You can write in the notes when sending that “it is a loan and it must Be payed back in a certain amount of time and if this isn’t payed back you can claim a scam report”

would that work as evidence if I chargedback though(if he did not repay)?

 

[Doge]

Loans aren't supported by PayPal if you read their ToS. The only way you'd be able to chargeback is if either you lie to PayPal or if you chargeback through your bank/credit card. However, doing either too many times won't look good.

Personally I'd never do loans, but if you must, try to only deal with reputable users and if you get scammed, only attempt to chargeback higher loans you gave out.

Also: when getting money returned to you, ALWAYS have them refund the payment + have them send you the extra amount they owe you. This prevents them from charging back the loaned amount.

 

[Choo]

When sending loans, send in G&S so you can chargeback easier.

Loans aren't supported by PayPal if you read their ToS. The only way you'd be able to chargeback is if either you lie to PayPal or if you chargeback through your bank/credit card. However, doing either too many times won't look good.

Personally I'd never do loans, but if you must, try to only deal with reputable users and if you get scammed, only attempt to chargeback higher loans you gave out.

Also: when getting money returned to you, ALWAYS have them refund the payment + have them send you the extra amount they owe you. This prevents them from charging back the loaned amount.

The only way you can get someone to refund a sent payment on paypal is if you send in G&S right?

Also, give them a neutral reputation after you send your loan, that way if he is scamming, it's less likely that other people will get scammed. And yes if he scams you, you may open a scam report on here.

 

[Aero512]

Loans aren't supported by PayPal if you read their ToS. The only way you'd be able to chargeback is if either you lie to PayPal or if you chargeback through your bank/credit card. However, doing either too many times won't look good.

Personally I'd never do loans, but if you must, try to only deal with reputable users and if you get scammed, only attempt to chargeback higher loans you gave out.

Also: when getting money returned to you, ALWAYS have them refund the payment + have them send you the extra amount they owe you. This prevents them from charging back the loaned amount.

sorry for the really late response but would there be fees in refunding the payment or would i get the full amount? also what will there be fees when they send the extra amount via F&F, or will i receive the full amount

 

[Doughnut]

Aero512 there is no charge with Friends and Family. If you refund a payment there is no fees. if you did a G&S you might lose the fee you paid when you sent it. otherwise no issue, also. when you send the money, use a VPN as if someone wants to scam you, you can just say payment was unauthorised.

 

[Aero512]

Aero512 there is no charge with Friends and Family. If you refund a payment there is no fees. if you did a G&S you might lose the fee you paid when you sent it. otherwise no issue, also. when you send the money, use a VPN as if someone wants to scam you, you can just say payment was unauthorised.

using a vpn works? do they check the ip from where it came from? is that how they determine if it was unauthorised? also would they limit my account if i did chargeback using that reason too many times?

 

[Doughnut]

Indeed.