Can't pay balance on Corporate Card

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rlh6805
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Re: Can't pay balance on Corporate Card

Postby rlh6805 » Fri Nov 13, 2015 2:23 pm

Tubpbs wrote:But why were you using the corporate card for your business venture in the first place? How can you be able to pay 75K last month and not this?

What was the typical amount of spending on the card on a monthly basis?


I know, I should not have used the Corporate Card. I was able to pay the monthly payment for the past two years, until my business associate messed things up. Now I can't pay it this month. My company knows about it and actually and surprisingly, they are not that mad. They just said it's my responsibility to work things out with AMEX. Now, that being said, I'm not so sure that they would be aware of whom AMEX will come after for payment.


Tubpbs
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Re: Can't pay balance on Corporate Card

Postby Tubpbs » Fri Nov 13, 2015 5:01 pm

rlh6805 wrote:
Tubpbs wrote:But why were you using the corporate card for your business venture in the first place? How can you be able to pay 75K last month and not this?

What was the typical amount of spending on the card on a monthly basis?


I know, I should not have used the Corporate Card. I was able to pay the monthly payment for the past two years, until my business associate messed things up. Now I can't pay it this month. My company knows about it and actually and surprisingly, they are not that mad. They just said it's my responsibility to work things out with AMEX. Now, that being said, I'm not so sure that they would be aware of whom AMEX will come after for payment.


I would wait for Amex to contact you or them further about it and go from there. I don't think you should heed the advice given earlier to get rid of your attorney. I'm not saying your attorney is or is not doing a good job, but the person that made that suggestion does not have enough information about what is actually going on or what information your lawyer does or does not have. Depending on how aware of his or her capabilities you are, you should / could always have a single consultation with another attorney to get a confirmation opinion.

Amex will give you options once they realize that you're not paying until something changes.

Is it affecting the corporate use of the Amex card? Does no one else have billing on that account?
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rlh6805
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Re: Can't pay balance on Corporate Card

Postby rlh6805 » Sat Nov 14, 2015 6:25 am

No, it is not effecting anyone else's cards. There are hundreds of employees who have a corporate card, each with its own account.

I've got another appointment with my attourney next week. I'm hoping that he can call AMEX to see what my options are.

Tubpbs
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Re: Can't pay balance on Corporate Card

Postby Tubpbs » Sat Nov 14, 2015 6:57 am

rlh6805 wrote:No, it is not effecting anyone else's cards. There are hundreds of employees who have a corporate card, each with its own account.

I've got another appointment with my attourney next week. I'm hoping that he can call AMEX to see what my options are.


Good luck. Keep us posted.
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Elijahmex
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Re: Can't pay balance on Corporate Card

Postby Elijahmex » Sat Nov 14, 2015 8:07 pm

Are you being honest right now? You really have to not give zero f***s to use your company's credit card to fund your side business. That's...balsy!!

It's hard to believe that this "big company" is taking the situation so lightly.
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Tubpbs
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Re: Can't pay balance on Corporate Card

Postby Tubpbs » Sat Nov 14, 2015 9:17 pm

Elijahmex wrote:Are you being honest right now? You really have to not give zero f***s to use your company's credit card to fund your side business. That's...balsy!!

It's hard to believe that this "big company" is taking the situation so lightly.


They're going to start caring much more when the other cards stop working. I'm not 100% on how Corporate Amex accounts function, but I would imagine it will affect more than just the user's card. If the CEO of this large entity goes to use his card and can't, for example, I would expect a shit storm....
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rlh6805
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Re: Can't pay balance on Corporate Card

Postby rlh6805 » Sun Nov 15, 2015 8:31 am

Tubpbs wrote:
Elijahmex wrote:Are you being honest right now? You really have to not give zero f***s to use your company's credit card to fund your side business. That's...balsy!!

It's hard to believe that this "big company" is taking the situation so lightly.


They're going to start caring much more when the other cards stop working. I'm not 100% on how Corporate Amex accounts function, but I would imagine it will affect more than just the user's card. If the CEO of this large entity goes to use his card and can't, for example, I would expect a shit storm....


This is certainly a possibility. I have been in contact with the our finance dept and the person who handles the AMEX accounts. Even HR has looked into this. So far their stance is that it is my responsibility to pay the bill. We have always been told that these cards are our responsibility to pay and we are allowed to put personal charges on the account. All this being said. this is a huge amount and if AMEX goes after the co to pay I'm quite sure I'll be done. The big question is whether I'm going to be sued by my company or AMEX?

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Re: Can't pay balance on Corporate Card

Postby Tubpbs » Sun Nov 15, 2015 8:51 am

I would say the big question depends on one thing... Will the company pay your charges for the sake of keeping their cards open? If they pay, which I would assume they will, depending on how many people in the company have a Corporate Card, then they will obviously come for you for the money.

They may actually be more willing to work with you (in theory) than Amex. They certainly have a good idea of how much you make and what would need to be made to pay everything back...
Amex - BCP, Platinum, Business Gold
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rlh6805
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Re: Can't pay balance on Corporate Card

Postby rlh6805 » Sun Nov 15, 2015 9:08 am

Tubpbs wrote:I would say the big question depends on one thing... Will the company pay your charges for the sake of keeping their cards open? If they pay, which I would assume they will, depending on how many people in the company have a Corporate Card, then they will obviously come for you for the money.

They may actually be more willing to work with you (in theory) than Amex. They certainly have a good idea of how much you make and what would need to be made to pay everything back...


That would not be a bad solution if it would work out that way. I have another meeting with my attorney next week and maybe he can make some calls on my behalf and get some better answers.

Thanks for your advice, you seem pretty knowledgeable.

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Re: Can't pay balance on Corporate Card

Postby Tubpbs » Sun Nov 15, 2015 10:52 am

rlh6805 wrote:
Tubpbs wrote:I would say the big question depends on one thing... Will the company pay your charges for the sake of keeping their cards open? If they pay, which I would assume they will, depending on how many people in the company have a Corporate Card, then they will obviously come for you for the money.

They may actually be more willing to work with you (in theory) than Amex. They certainly have a good idea of how much you make and what would need to be made to pay everything back...


That would not be a bad solution if it would work out that way. I have another meeting with my attorney next week and maybe he can make some calls on my behalf and get some better answers.

Thanks for your advice, you seem pretty knowledgeable.


I would disclaim that this is mostly speculation, just so you know. That being said, I have a lot of experience with things of this nature in the business world.

The biggest sign they might work with you to resolve this in everyone's best interest is that they know about it already and you're not already long fired and being persued for the money.

If you could give them the $30K or whatever you have and then, depending on your income, pay them back over 1-3 years, IF they have the money and value you as an employee, it's possible... Who knows. Either way...even if they fire you, it is in their best interest to pay the balance and come to you for the money. So assuming they do that, even if they fire you, they're better off giving you some payment plan to pay them back than suing you and adding in legal fees on both sides that you can't pay. You seem to be being honest with them and as long as that doesn't change, their relatively benign reaction so far could continue until the issue is resolved. At the same time, given how accepting they've been, it is always possible that at any moment they could get rubbed the wrong way and do a nasty 180 on you...

Keep on top of it. Keep being honest about it. Keep thinking of ways to solve the problem. And keep the company in the loop on where you're at.

Good luck. Keep us posted.
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