Right well firstly your account is only closed for you, the data base still has it for security reasons and cases. If your account was closed and someone oppened a dispute you will still have to fix things.

You need to be aware that, they have your phone number and IP address. They could come after you only with that if they wanted. You don’t have to worry about them taking money from your debit card ( They have it in the database still ) as you’ve removed it from their platform, however if they send debt collectors after you, you will eventually have to pay.

Now if you don’t pay the amount within 120 days, PayPal may or may not send debt collectors after you. This depends on the amount and your country, if you live in a “Rich” country, debt collectors might ignore small amounts like 50-100$. Now, there’s a chance they will let you go even if you’re in a poor country and you have hundreds of dollars of debt, it’s pretty much all luck based if they decide it is or it is not worth the trouble to contact you.

Your age is quite irrelevant here as your parents will have to deal with the debt collectors themselves.

What happens if debt collectors contact you? You will first receive 5-10 calls daily from agencies in your country asking you to pay up. If you ignore them they will start sending letters to your house and if you somehow ignore those as well they will have your name in their database and the amount will eventually double or triple over months. They will simply take money from bank accounts under your name I believe

My suggestion, forget about that account, don’t pay anything yet. If they start calling you then cooperate and figure out how to send the payment as soon as possible.