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This loan is really advanced "salary". The company does not give salaries but employees depend on commissions. The employer extends advanced salary to all employees. Once they earn commission, the advanced salary will be deducted from this commission earned. The employee has since left the company and will duly pay any outstanding amount owed. However, the employer is now demanding repayment including interest which was never stated in the contract.

2007-01-28 00:33:51 · 5 answers · asked by Dee_Soh 2 in Business & Finance Other - Business & Finance

5 answers

Definitely check with an attorney, because I think it is illegal for anyone to charge interest on a loan unless they are specifically licensed to do so. I could be wrong but I think its called loan sharking if they do so. A rather serious federal offense.

2007-01-28 05:56:55 · answer #1 · answered by thankyou "iana" 6 · 0 0

I would think the reason the employer is charging interest is because the employee left the company and still owes money to the business. I would check with an attorney to see what the law says.

2007-01-28 03:55:25 · answer #2 · answered by Anonymous · 0 0

Ask them to show you where you agreed to pay interest?
Maybe they just though that it was in the contract. Or maybe it's in there but you didn't see it. So ask. When they see that you have no legal obligation to do so, then let them know that you aren't going to out of the goodness of your heart. If they deduct it anyway and it's more than $200 I'd go to small claims court with my contract and evidence that they deducted from my wages.

Best of luck,

2007-01-28 00:41:21 · answer #3 · answered by Anonymous · 0 0

you do no longer ought to pay her. and you mentioned your self, to procure paid a flat cost inspite of what is going on it is actual for many people who watch babies.My niece and nephew daycare provider gets paid a similar a week whether they do no longer circulate. She is only mad for the reason which you quit and that i will understand why. whether you had a competent reason, you mentioned you have been a nanny and you probable positioned her in a great place via fact she probable has neglected days from artwork now via fact there's no person to observe the babies. If she calls you lower back record the communique on the telephone, and save all textual content fabric messages and voice-mails via fact if she starts to get nasty you may want that if she comes to a decision to take you to courtroom to get her funds lower back.

2016-09-28 02:27:17 · answer #4 · answered by ? 4 · 0 0

doesn't sound legal to me but I would check with your local labor board on this

2007-01-28 00:41:36 · answer #5 · answered by acesteel 2 · 0 0

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