Comments on: Not My Debt. What Do I Do?

By: FinanciallySmart

FinanciallySmart — Thu, 01 Jan 1970 00:00:00 +0000

Yes she should paid the debt and then sued the former employer. She has to preserve her credit rating and so in order for this not to be a negative she should just do what you had advice. She should also learn from this as well by including the credit card payment in her Salary. After leaving the job go and close the account. This is a lesson to all your readers. Thanks for highlighting it.

By: Shawn Levasseur

Shawn Levasseur — Thu, 01 Jan 1970 00:00:00 +0000

This is wrong on so many levels.

There is no reason ever for an employee to have a company card that they are liable for. Business cards with an employee’s name on it (and the companys) are commonplace. I find it curious how this situation even came up.

My suspicion is that the employer misled the employee as to the reason for the card having to be in the employee’s name. That essenially the employee was essentially being used as a cosigner, as the employer wouldn’t have been able to get the card at all due to his own bad credit.

Talking to state labor authorities is an excellent suggestion. This could be an act of fraud that could even make this a criminal case as well as a civil suit.

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

@Evan and @Mike – I love the discussion guys. See the update I added to the post above. That may provide some more insight.

By: Evan

Evan — Thu, 01 Jan 1970 00:00:00 +0000

I am an attorney *too*, and I still disagree – why would you pay anything until they proved it was your debt? From the emailer’s broken english it is not clear whether she actually owes anything, OR was just an authorized user and they are grasping for straws to collect from someone.

Further, let them bring it to Court then they can implead the true Obligor (if BofA fail to just name his as co-defendent).

There is way too much missing information, to provide a useful definitive response.

By: Mike Dunham

Mike Dunham — Thu, 01 Jan 1970 00:00:00 +0000

I *am* a lawyer, and I agree with PT. Timing-wise, I would file suit before I paid it, and then in sending the payment, I would send a copy of the lawsuit and a cover letter explaining to BOA that I was paying it only to mitigate damage to my credit, that I did not admit owing the money, and that I intended to pursue recovery from the proper obligor. That way you have evidence to show future lenders, etc. that you weren’t paying because you thought you owed the money, but because you were trying to stop the bleeding.

By: Talk About Debt

Talk About Debt — Thu, 01 Jan 1970 00:00:00 +0000

What a nightmare. In the UK you would be liable for the debt as it’s in your name. You might be able to take your old boss to court as he’s in broken your agreement. I am guessing you’ll have to pay unless you go legal on your old boss. Hopefully the treat of a lawyer make sin pay up. Good luck.

By: Noelle

Noelle — Thu, 01 Jan 1970 00:00:00 +0000

It’s in your name, right? Your credit is already getting dinged with the late payments and overdue balance, so letting it go to collections a little while longer probably isn’t going to hurt much more.

You owe none of the $4800, right? I say, sue the boss first (well, call him first and let him know you are going to sue to see if you can get money from him) to get some cash, THEN call BoA to settle. Remember, they are offering you that $2400 deal because they know they are not going to get it all. If you wait a little longer, the deal may be better or you may be able to counteroffer.

Please, please, reconsider not taking a loan to work on the house. Can you save the cash and get it done in smaller increments instead? Debt of any kind is such a headache.

And, unless he has been the sole breadwinner, if your husband died (god forbid), you’d still be able to get credit based on your income, credit history, etc. (Although see my point about not getting new debt, above).

Good luck with the jerk of a boss. Sorry you are having to deal with this.

By: Evan

Evan — Thu, 01 Jan 1970 00:00:00 +0000

woah woah woah!

So you guys think she should pay $2400 in the hopes that she recovers it from a deadbeat? If BofA hasn’t gotten him to pay what hopes could you possibly have for her to recover ANY money from him?

First off – NEVER EVER Ignore any official letters from banks, courts or collections.

Second – the question should be asked whether this is actually her debt. She may have just been an authorized user, not a co-debtor in that case FIGHT IT!

Third – BofA “offers” $2400 and you guys jump? Even if you are going to take the deal (and I wouldn’t) you should at least counter offer!

I would tell this reader – I need more information.

By: Nadia

Nadia — Thu, 01 Jan 1970 00:00:00 +0000

Yes. Pay the $2,400, get that monkey off your back, then sue in small claim’s court for the original balance of $4,800 plus headache money.