Employee borrowed $3000 and pays it back $25 a week. He calls into work at least once a week so he is being terminated. Can the company hold his final paycheck?
Since the employee received a pay advance in the amount of $3000, and pays it off at $25 per week, that means that the employer only is being paid $1200 per year. At that rate it will take 2.5 years to pay the advance off, not counting interest charged, if any. The employer can deduct the balance of what was advanced less what was paid from the final paycheck since the employee actually has already been paid for the time in advance.
Michael A. Caldwell
404-979-3154
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