For the last 2 years I have been researching the cell phone industry on ebay and saw it is very lucrative. About 2 months ago I hooked up with a cell phone supplier and decided to quit my job and sell on ebay fulltime. I knew the potential was there little did I know how fast my sales would explode. I went from doing about $1000.00 a month on ebay to $23,000.00 in 2 weeks. Wow I was blown away and thought I was just getting started. In the next 30 days I banged up an impressive $119,000 in sales. Shipped out about 700 phones and thought this is great as this was only the begining. I could not have been so wrong. All of the sudden paypal puts a restriction on my account and asks me for some information and tracking numbers. Again no big deal I thought. Then paypal calls me up and says they have reviewed farther into my account and they need tracking numbers for everything for the last month. Again a little bigger deal but I kept good records so I figure it will just delay the process longer. So I email them with the spreadsheet all the information they have requested. About an hour later my world came crashing down as I get the following email from paypal.
Dear Steve Ludwig,
We regret to advise you that PayPal has determined to close your
The following notice explains the reason for closure and the process
disbursing any remaining balance.
As part of our account review, a consumer credit report was obtained
the credit reporting agency identified below. The results of the report
contributed to the decision for account closure. Equifax did not make
decision and is unable to provide you with specific reasons why the
decision was made. However, you have the following rights under state
The right to obtain a free copy of your Equifax consumer report if you
such a request to Equifax within 60 days of your receipt of this notice
The right to dispute the completeness or accuracy of any information
contained in such report by notifying Equifax directly of your dispute
You may contact Equifax by telephone using their 1-800-685-1111 phone
number and selecting the 'denied credit' option. Then follow the
instructions that are given.
If you prefer to use a mailed request, send the following information
Equifax: first name, middle name, last name, spouse's name (if
home address, home address for the last five years, date of birth,
security number (required), and copy of declination notice (this form).
Mail this information to:
P.O. Box 740241
Atlanta GA, 30374-0241
Disbursement of your account balance can be handled in one of two ways:
Option 1. Your remaining account balance can be used to refund the
If you would like to pursue this option, please reply to this email
list of buyers you would like to refund. Include the email address,
and amount of the transaction. If you need to refund in bulk, please
provide a date range in which you would like all transactions refunded.
cannot issue partial refunds
Option 2. Your remaining account balance will be held within your
Account for 180 days in order to minimize chargeback risks. Once the
180-day period is completed, a check will be sent to your home address
In the event of a dispute, PayPal will seek to recover the funds from
by debiting your PayPal balance and, if there are not sufficient funds
your PayPal balance, PayPal reserves the right to collect your debt to
PayPal by any other legal means.
PayPal Account Review Department
Can you believe this because I went from nothing to explosive sales in a month they close me down because of my credit rating. I have never had any problems with payments or items not recieved with paypal. I would have thought with the volume of business I was doing they would be happy especially since I only accepted paypal as payment. So know Im out almost $13,000.00 as paypal has seized this money and they say they wont release it for 180 days.
Sellers beware do not build your business to big or to quickly on ebay or you will be shut down. I have researched this and have found this has happened to lots and lots of other people.