I am sure many of us have and use PayPal accounts. I for one, am going to opt out of their litigation agreement for arbitation on claims and disputes with them. If you allow it to be amended into your agreement, you waive all benefits from class action suits and multiple group claims on future settlements. It will only cost you for a stamp and a moment of your time to do this. It is to your advantage to make this effort. Otherwise you will have to make an individual claim with binding arbitration. The expense and time involved would be a deterent. You can use my letter as your draft and add or change as you see fit. Dead Sirs; I do not agree to arbitrate all claims and disputes with PayPal. This notice serves as my opt out notification to your amendment dated, 11/01/2012. Name.... Address... Ph#...... Email Address associated with your Pay Pal account..... Sign and send to: PayPal Inc. Attn: Litigation Department 2211 North First Street San Jose, California 95131 Don't give away your legal rights! We need all our benefits to be justly protected.
Wouldn't,couldn't they just opt you out as a customer. I mean if you do not accept their terms why would they take you as a customer?
What legitimate reason would I sue paypal? Seriously. I'm not a sue-happy guy like most Americans, so I don't see why I would really care. If they took all the money out of my bank account, I would sue and that would be worth my time and money. But I see no reason other than where paypal breaks the law, that I would need to sue them.
However, if you sell an item which then becomes a SNAD complaint by the buyer, and PayPal sides with the buyer, and you wind up with nothing, money or item returned, you could sue PayPal for taking the money from your account before the item was received from the buyer. Not many people pursue against PayPal, but it could be done.
NFN, but if you did have a dispute, which needed arbitration, you can choose to file a claim in small claims court. These are getting to be more frequent on People's Court lately. The most recent was for a Cartier Watch which was sold on eBay. The buyer filed a SNAD, and received a refund through PayPal. The seller filed suit, and won a judgement for $2400 as she already received a partial payment from PayPal for $1500.
First of all, this is an amendment to your existing account. By doing nothing and not opting out, it will be in full force and affect come November first. By doing nothing you acknowledge your acceptance of the change. That's why I stated "many of us have or use". I wasn't talking about opening a new account with them. The new accounts already have this language in them. The question is not do you need to sue them, its how you must sue them if the need arises. If they took everyone's money out of their account, you would have to sue them as an individual, and arbitrate through a court appointed individual. Expenses for this would be shared by you and all equally. You may have lost ten times the amount of the settlement but may only receive an amount equal to what the arbitrator thinks is fair. In a class action suit, their is usually an entire law firm representing everyone and the fee is taken out of the settlement pool. It will cost you nothing if they loose. You will pay for costs under the arbitration scenario if you loose or win. Your portion of the pool settlement, in a class action, is decided by the extent of your losses. Those who lost more will get more. Not perfect but much better. This will have no bearing on individual lawsuits between just two parties.
