QUESTION
I borrowed money from my previous employer and they agreed to a specific amount per month. Now they want the entire amount due? Can they sue?
Asked on Feb 17th, 2021 on Labor and Employment - New York
More details to this question:
Worked at my previous employer for 19 years and resigned due to covid. I borrowed money which was being deducted weekly and when i resigned, i asked if i could pay $100 per month until my situation improves and i'd be able to pay a larger monthly amount. I'm not working and I don't have savings, but they are refusing to accept the agreed upon payment and want the entire loan amount or $500 per month. I do intend on paying the loan off and I have been making the monthly payments. Can they sue or mess up my credit?
1 ANSWER
For the best suggestions contact a debtor and creditor lawyer or one who handles collections. Those legal professionals can assist you regarding the payment or collection of debts. Everything begins with the agreement or the contract. If written, the entire document needs to be reviewed. If verbal, the specific details regarding the agreement in light of New York's Labor Laws must be considered. Deductions from paychecks are limited to certain types of expenses. Contracts unrelated to work duties and responsibilities are separate.
Answered on Feb 19th, 2021 at 7:24 AM