What happens when my PayPal funds are in the negative?

Canuck: What happens when my PayPal funds are in the negative?
I made a transaction with someone a few months back and have already spent the money on other items. Paypal has reversed the transaction and my account is now -$ 500. What happens now?

My account is not connected to my bank nor is it verified.
I have no credit card on file
the only information they have is my name and address no other numbers of any kind.

Answers and Views:

Answer by opalescent_angel
I believe they can deduct the amount through the credit card that you have on file.

Answer by The Wizard
I assumed you opened this account with your Social Security Number. They will report this on your credit reports if you do not make good on the monies owed.

Answer by ellie e
This happened to me, paypal fined me for the reversal, froze my account, then automatically deducted the money from my bank account which they would have on record if you transferred any payments to your bank account.

Answer by Pawan Khera
They will do nothing, neither wil charge the amount of credit card and nor they will approach you.
They will limit your paypal account soon if it is having the negative balance for a long period of time. Thats it.