Business Bank Debt

[Michelle0427]

What is the name of your state (only U.S. law)? Florida
I was the bookkeeper for my company. At some point we added overdraft protection on 2 different corporate checking accounts. The heads of the company ran up both overdarafts to their maximum of $20K each. They have not made payments and subsequently the company is out of business and everyone was layed off. They owe over $300K in payroll andmuch more in other debt. The bank is now coming after me personally for the overdraft protection debt. After many phone calls they have dropped one of the accounts from my liability but are pressing the issue with the other one. Basically the bank credit rep told me that she would pull the applications and see if I signed a personal liability. If I did not then I would not be liable. After a couple of weeks she phoned me and that is when she said that she can not obtain legible copies but that I am liable anyway. She phoned the branch where I opened up the accounts and the bank rep there told her that there is no signed application but that she & I did it over the phone. It was set up as a business credit card and overdraft protection & she filled out the application while talking to me over the phone. I remember the credit card coming in the mail afterwards & I phoned the bank rep to inquire. She said that $10K went to overdrafat & $10K went to credit card. I informed her at that point that I did not want the credit card & that it was wrong. SHe "fixed" it and soon after all $20K was on the overdraft side. Now, they are saying that maybe the bank rep didn't process that correctly but that is not their problem and I am liable for the $20K. As of this Friday, they will charge it off and it will go against my personal credit. My confusion is that I had 2 accounts & the overdrafts were supposed to be set up the same. The bank is agreeing that I am not liable for one of them becuse they do not have a "signed" applicaiton but even without the signed application for the other one I am liable. I have a credit score of 812. I ALWAYS pay my bills. This is going to ruin my credit & I don't know where to turn.


Here are some facts: the 2 overdraft lines should be exactly the same. The bank rep did one as a business credit card instead. When I

[HomeGuru]

Originally Posted by Michelle0427

What is the name of your state (only U.S. law)? Florida
I was the bookkeeper for my company. At some point we added overdraft protection on 2 different corporate checking accounts. The heads of the company ran up both overdarafts to their maximum of $20K each. They have not made payments and subsequently the company is out of business and everyone was layed off. They owe over $300K in payroll andmuch more in other debt. The bank is now coming after me personally for the overdraft protection debt. After many phone calls they have dropped one of the accounts from my liability but are pressing the issue with the other one. Basically the bank credit rep told me that she would pull the applications and see if I signed a personal liability. If I did not then I would not be liable. After a couple of weeks she phoned me and that is when she said that she can not obtain legible copies but that I am liable anyway. She phoned the branch where I opened up the accounts and the bank rep there told her that there is no signed application but that she & I did it over the phone. It was set up as a business credit card and overdraft protection & she filled out the application while talking to me over the phone. I remember the credit card coming in the mail afterwards & I phoned the bank rep to inquire. She said that $10K went to overdrafat & $10K went to credit card. I informed her at that point that I did not want the credit card & that it was wrong. SHe "fixed" it and soon after all $20K was on the overdraft side. Now, they are saying that maybe the bank rep didn't process that correctly but that is not their problem and I am liable for the $20K. As of this Friday, they will charge it off and it will go against my personal credit. My confusion is that I had 2 accounts & the overdrafts were supposed to be set up the same. The bank is agreeing that I am not liable for one of them becuse they do not have a "signed" applicaiton but even without the signed application for the other one I am liable. I have a credit score of 812. I ALWAYS pay my bills. This is going to ruin my credit & I don't know where to turn.


Here are some facts: the 2 overdraft lines should be exactly the same. The bank rep did one as a business credit card instead. When I

**A: what a convoluted post. You need an attorney like yesterday.

[Michelle0427]

I know it's very involved. Basically, there were 2 identical accounts (or should have been). Neither has my signature on an application. The bank is acknowleding that I am not liable for 1 of them based on my "non signature" on the application but for some reason is sticking to their guns on the other account. Still, it doesn't have my signature. What type of attorney handles this? I am unemployed thanks to this company I worked for...they owe me payroll....I am a single mother trying to keep the lights on and food on the table. I don't have money for an attorney.

[Antigone*of*Greece]

Originally Posted by Michelle0427

I know it's very involved. Basically, there were 2 identical accounts (or should have been). Neither has my signature on an application. The bank is acknowleding that I am not liable for 1 of them based on my "non signature" on the application but for some reason is sticking to their guns on the other account. Still, it doesn't have my signature. What type of attorney handles this? I am unemployed thanks to this company I worked for...they owe me payroll....I am a single mother trying to keep the lights on and food on the table. I don't have money for an attorney.

If you are not an officer or owner of the company, you cannot be held personally liable. You need to speak to someone other than a branch manager of that bank. Call the bank and ask them to give the the name of the dept or divison that handles complaints that have not been resolved.

I would even go so far as to tell them that if you don't get resolution quickly, that you'll go directly to the OCC and the press. Banks hate bad press.

Take care, I hope this helps. ana