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Question
QUESTION: I was the president of a startup Incorporation. When I took out a Credit Card with AMEX I did so under the signature as the president and used our EIN number. Since then the backers of the company have run for the hills and the company is shut down. AMEX would like their money and it looks like they are coming after me personally through a debt collector. What can I do or should I do?
ANSWER: Chad,
Was the company incorporated? Has the company dissolved or gone out of business?
If it has you should or the owners of the company should have paperwork reflecting that and can send that to the AMEX or collection agency. Also, talk to the business attorney and let them know what is going on and if possible have them send a letter to AMEX or the agency explaining they are going after the wrong person which is a violation of the FDCPA.
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QUESTION: Hope this helps: It was incorporated. The company has not been dissolved but closed it's doors and released all it's employees. I don't know if they are doing business anymore legally. The owners are from Denmark and they have a lawyer in the States who does not respond to any requests I have. Would a severance letter work as well. I have informed AMEX and the credit group of the business lawyer but they continue to pursue me and have affected my credit adversely now. Please advise and thanks!
ANSWER: In that case I would give the company that is calling you the owners contact name and address and tell them that is who they are looking for and that you used to work for them and no longer do and have no interest in the company.
You can also give them the lawyers contact information and he can decide if he is going to get back to them or not, but either way let them know this debt does not involve you.
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QUESTION: Again thanks.
I have done this already and they continue to call. Any other recourse?
Yes, if you have given them the owners contact information and their attorneys contact information and they continue to contact you, you should have a lawyer contact them to put an end to it. It is illegal for a debt collector to discuss a debt with someone who is not responsible for the debt, especially since you have provided them with the contact information of the debtor and their attorney. Make sure you have done this in writing so you have proof.
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Answers by Expert:
Michelle Dunn
Expertise
As one of the Top 5 Women in Collections, one of the Top 50 Collection Professionals, and winner of the Business Excellence award, I can answer any questions about debt, debt collection, improving business credit, creating a credit policy, enforcing a credit policy and collecting on past due accounts. I can also answer questions in regards to starting a debt collection agency since I have been a bill collector for over 24 years, started and ran my own collection agency for 8 years, and maintain my 12 year old Credit & Collections Association for members of the credit & debt collection industry. I am also the author of the popular and award winning book "Starting a Collection Agency, how to make money collecting money" now on it's 3rd edition. This book has won a the Writers Digest self published award as well as the New York Book Festival Award. I am a repeat contributor to the Wall Street Journal, and have been featured on NPR, CNN, as well as many other national radio and television programs. I have also been featured in national publications such as the Wall Street Journal, Forbes, Smart Money, MSNBC and much more. I have 17 published books to my name and am an accomplished speaker and consultant. I currently write 9 columns for newspapers, magazines and online portals worldwide.
Experience
I have over 24 years experience in debt collection, I started and ran my own collection agency for 8 years and I am the founder & owner of my Credit & Collections Association that I founded in 1998. www.credit-and-collections.com
Organizations
My Credit & Collections Association, I was also a member of the American Collectors Association and Plymouth Chamber of Commerce for 11 years. I am a member of many writing groups as well as my local Women Inspiring Women chapter. I am a member of Know More Media as an expert for their blog on business credit.
Publications
Business NH Magazine, Smart Money Magazine, MSNBC, CNN, Forbes.com, The Wall Street Journal, Home Business Magazine, Entrepreneur Magazine and website, many books, newspapers and television programs as well.
Education/Credentials
I have written 17 books in my collecting money series and one for Entrepreneur Press called the Ultimate Credit and Collections Handbook. My newest book is being published by John Wiley & Sons in May titled, The Guide to Getting Paid, how to weed out bad paying customers, collect on past due balances and avoid bad debt. This book is also being sold to many colleges as a text book.
Awards and Honors
My book Starting a Collection Agency, how to make money collecting money won an award from Writers Digest and the 2007 New York Book Festival in the "How to" category. I have won 2 awards from Dun & Bradstreet and Governor Jean Shaheen. I was nominated as one of the Top 5 Women in Collections twice as well as having been selected as one of Collection Advisor's Top 50 Collection Professionals by my peers.
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