EBay buyers save billions per year, study says

Ebay stocks are declining like crazy due to a new fee and feedback policy change.

It closed at the lowest it has been in 52 weeks.

Seller's are angry and they are getting out of Ebay. Investors are in a panic, and it doesn't look good for Ebay.

My advice, if you have stock (SELL!!!!!!!!!!!!)

Look hard at investing in eBay for a while!They have announced new feedback and fee policies that are starting a revolt amongst longtime sellers,threatening boycotts,etc.The ebay world is starting to turn upside down!!People are ANGRY!!!Go to eBay feedback discussion boards to see the revolution!!

eBay buyers save Billions! Wow! What a headline!

How about eBay sellers and stock holders get the shaft!

eBay has done it again! Buyers on eBay may have saved a bundle while eBay also made money...

However their selllers are going BROKE ...They can't make any money, lol.

eBay talking heads are going to put eBay right out of business. lol....

Amazon here they come....

I am one of those long time power sellers that is really angry. I have worked very hard to keep my 99.9 % feedback rating with almost 10,000 items sold. I am definitely looking else where to sell today.
I feel like all my hard work has been for nothing and my loyalty to ebay for 7 years is repaid with a slap in the face.

As An eBay Buyer..I Really Hate to see that eBay.com is ruining the lively hood of so many Honest and Disabled and Veteran Sellers!!!!... Many Of The Smaller Sellers Who Helped Build eBay Have No Other Way To Make A Living!!....I Think Sellers Should Take Control!...And, A Strike May Be Most Definitely In Order!!!!!...If most of the Sellers abandoned their listings for a Week or MORE!! and Buyers "Don't Bid Or Browse"..It May bring eBay Management to their Senses!!...My Favorite Business Management Professor at GA. TECH always said "If It Ain't Broke...Don't Try to Fix It" ...In My Humble Opinion....The Proposed Feedback Change and the 21 Day Paypal.com Holding Period might be "Unconstitutional" & "Illegal"...."One Sided Feedback" may be a violation of the "Equal Protection Clauses" in the the various State and the Federal Constitutions!!.....Additionally....Both The New "Unequal Feedback Policy" and the "21 Day Holding Period" may require that eBay act as a "Law Enforcement Agency" and a "Court Of Law " in order to settle contractual disputes between Buyers and Sellers!!..Both Of These Actions May Be Extremely Illegal!!.... We Need To Help Ebay Save Itself!!....If One Strike doesn't work, Sellers may need to do it Again and Again--->Until it Does Work!! .... Hopefully!!, Persistent Sellers Will Convince eBay Management to Withdraw these proposed changes and return to Business As Normal Before The Law Enforcement Agencies and The Federal/State Courts Bring Them DOWN!! I have heard that One Of The Best Civil Trial Lawyers in Atlanta may be just waiting until the proposed changes take place before filing a multi billion dollar Class Action Lawsuit (On Behalf Of "ALL" SELLERS) against eBay, Paypal and their new cohort General Motors for Violation of the "Equal Protection and Numerous Other Clauses" Of The US Constitution!....Additionally....He may be requesting that US Magistrates and the Attorney General issue Felony Criminal Warrants requesting immediate arrest of all eBay Management and all employees involved in making feedback decisions(in which they act as a Law Enforcement Agency...AND... A Court Of Law!!) I Am Afraid That "Good Attorneys" and an almost Trillion Dollor "Class Action Suit" may Bankrupt eBay, Paypal and General Motors!! It will be interesting to see how much it will cost eBay, Paypal and Genral Motors to reimburse all of the Sellers that are being be forced to leave eBay and give up their only source of income because of these New Feedback and Paypal Rules!!!! .....Maybe Trillions!! ....My Professor Also Said..."Nothing Is "Forever"...Except Death And Taxes!!....STRIKE VICTOROUSLY!!

Recently in 08 I found out that my customer's card carrier did not approve a chargeback that he initiated. Paypal ignored this and gave the customer back his money anyway.

I, as a Sole Proprietor (automotive shop), ran transactions via third party merchant "processor" = PAYPAL, customer issued chargeback fraudulently, 3 months after payments were processed, which he later stated in a court of law that the services received were worth the price he paid via credit card, and that he reversed the charges jut to mess with us, which he also admitted to a Sheriff. Total for chargeback $6100.00. PAYPAL gave the customer back his money while they performed their so called investigation. They in turn debited my PAYPAL account which overdrew it and eventually froze my account which prevented me from having access to ANY information regarding the chargeback or my account activities. They took the few hundred dollars I had in the account and charged me fees on top of that. PAYPAL attempted to withdraw two original charges as one total amount from my personal/business checking account during the holidays, which is against the law. Per EFTA, ANY reversal of transactions must be done in the exact amounts they were charged, however thank God they did not do this as if they did, they would have wiped me out even more. I lost over $10,000 in revenue that month alone as a result of having no merchant processing, having to deal with this situation, and not setting up my original merchant account due to being cautious now of fraud. PAYPAL sent me to collections for the money. I sued the customer, won lawsuits, sent copies to PAYPAL who refused to acknowledge them, ignored all my documents literally, and PAYPAL continued to blame the card issuer for not reversing the chargeback.

I filed complaints with government agencies who basically told me to pound sand and figure this out myself. This was before I found out that the card issuer actually DISAGREED with the chargeback and did not approve it. The one office that at least contacted PAYPAL for their response to my accusations was the Attorney General of Nebraska. In PAYPAL’S response to my complaint via the Attorney General, that they are in violation of law and have no right to do this to me, they state in writing: “Despite our best efforts, the buyer’s card issuer decided in the buyer’s favor. As outlined in the terms of our service, to which you agreed when you created your account, the buyer’s credit card company, not PAYPAL, determines who wins the Chargeback”. So my question to this is: WTH do I do when the card issuer agreed with me and PAYPAL does not abide by the card issuer’s decision? PAYPAL IS LYING.

They also state: “Due to the chargebacks received, your PAYPAL balance is currently negative $6102.46. As the account’s balance remained unresolved for an extended period of time, the account was locked from further use and the negative amount was sent to collections. As outlined in the Privacy Policy, if you go into a negative balance and owe us money, we may share information with processing companies including collection agencies”. OK, I DO NOT OWE THIS MONEY PER THE CARD ISSUER. PAYPAL is attempting to extort money from me, and within this two page letter with 9 paragraphs there are many statements that are lies per literal evidence. PAYPAL is pursuing me for a fictitious debt! EXTORTION!!!! But again, I did not know PAYPAL was lying to me outright until approximately September 2008.

So I sued the bank based on this info. In the deposition is where I found that the bank had actually notified PAYPAL IN WRITING that they too did not agree with the chargeback and did not honor it initially. Despite the 100+ emails to PAYPAL between myself and PAYPAL, PAYPAL decided to ignore my judgments, complaints, and proof I did not owe the money, in addition, they ignored all work orders and tons of other documentation I have and presented to them as proof I do not owe the money and the chargeback was fraudulent, INCLUDING the Sheriff’s contact information, and information that the customer lied AND the refusal of the CARD ISSUER to honor the chargeback! PAYPAL also presented to me two different reason “codes”, of which, did not apply to my situation for being allowed to chargeback. I had several courts disagree with the customer, and his own card issuer/bank!! PAYPAL decided I did not want the chargeback reversed, told the card issuer I didn’t want to pursue fighting it, lied to them, even after I disputed it every time, and sent another communication in writing to the card issuer/bank stating I did not want to dispute it and to let it go through??? In the mean time, the customer filed bankruptcy to be relieved of this debt. Is PAYPAL coming after me because they cannot collect from him now?

After having to stop pursuit of the card issuer/bank, as they really did appear to have followed proper channels and did not approve the chargeback, I recently, October 2008, received yet another collection letter from a different company than the last one, representing PAYPAL, threatening to sue me for the money, which in turn would be a lien on me and my home. The letter is addressed to Me, not the "company" SP, and sent to the personal home, the “Company/SP“ is not mentioned anywhere. I am located in California.

In this particular circumstance, where a company is pursuing a debt fraudulantly, literally, now against a person, not naming the business, or the SP, or both on one paper, and since there were judgments and other documents discovered proving PAYPAL is acting fraudulantly, can this not fall under the FDCPA? When there is no ‘debt” as the “debt” was self created by PAYPAL, how can this NOT fall under FDCPA?

The processor is attempting to collect a debt outside of court judgments against the very customer they credited, AND attempting to collect a debt from a chargeback that was initially denied by the card issuer?

How can this not fall under federal guidelines?

As a third party, or the debt originator, relaying the information to collection companies (yes plural now), PAYPAL IS seeking to collect a debt from anyone at this point and it is fully their own doing the debt is owed.

I lost thousands of dollars beyond the $6100 they are attempting to extort from me. They froze my account, freezing any merchant processing. They attempted to withdraw thousands from bank account, causing me to have to withdraw funds and change the way I do business so they could not ruin me further. I got behind in all my bills, had to play catch up. PAYPAL interrupted my future transactions, terribly messed with our view of processing credit cards for months and caused so much stress that was wrong. PAYPAL refused to acknowledge court judgments I have against the customer, refused to abide by the card issuer, did not abide by their own policies and promised procedures. AND on and on and on. They put their foot in their mouth so many times I lost count.

Is there an attorney out there that wants to help? That feels this is worthy of a Class Action? The new evidence came to light approximately September 2008. I don’t understand how people can sue in a Class for losing a hundred bucks and win, but there is not one person out there that can do anything with this? If you can help, contact me please jtdiesel1@cox.net Thank you