I own my own small business and lately business hasnt been doing to well, please help me with something very important. I am a law abiding and upstanding citizen but I had to take a few items I purchased through purchase order to my local pawn shop. Can I be jailed for not paying these purchase orders? I am trying too but its not looking good right now.
2007-10-26 17:50:04 · 9 answers · asked by Anonymous in Business & Finance ➔ Small Business
For not paying the purchase orders? First, I'm sure the company/companies you have purchase orders from will try to collect the debt........then if you still don't pay, they will turn it over to a collection agency......then if you still don't pay, they will harass you daily until you willingly make an arrangement......if you still don't, it will likely go on your credit score.....and they may even obtain an attorney to go after you for the money......its doubtful that they will jail you....but you'll never be able to buy from them ever again......and possibly won't be able to buy from any other suppliers either.......then your business will go belly-up........
Sound like something you want to go through?
2007-10-26 17:54:34 · answer #1 · answered by honey_bear_21_1999 4 · 1⤊ 2⤋
The real answer you are seeking is someone to say what you did is ok, since you are having money problems. You say it was only "a few items" as if that makes it ok...and you say you are "a law abiding and upstanding citizen" right before you say how you are basically stealing from others.
Sorry, but no, you are doing the wrong thing. I don't know if they can throw you in jail for a few days or months. I do know what your doing is wrong and needs to stop. Do you suggest everyone do what you do? What if others did it to YOU?
Oh and I see you kept your own computer.
2007-10-26 17:57:27 · answer #2 · answered by JoJo 3 · 0⤊ 3⤋
possibly not jailed but you could just get in more over your head when you have to pay the purchase orders.
you don't mention what the business is so perhaps you may do better by asking a question on here as to how to improve your business and perhaps someone may be able to help you do that. For example, if you have a small store you may be able to go to a dollar store near you, buy something they are selling for a dollar and then sell it in your store for more. A store near me sells one brand of pop 2 for one dollar but they normally sell for 90 cents to a dollar each else where so there would be from 40 to 50 cents profit on each bottle you sold, to use one example.
Give us a chance and perhaps we can come up with some ideas for you. Hope you can hang on until business gets better!!
2007-10-26 18:03:38 · answer #3 · answered by Al B 7 · 0⤊ 2⤋
DCK2003 is correct, you are committing fraud. You received items that you promised your suppliers you would pay for and then pawned them. Your suppliers trusted you to pay for the items they gave you on your word.
Your best option would have been to return the items to the supplier saying you could not afford to keep them. A credit you couldn't use would have been better than being labeled a liar and a thief!
2007-10-26 20:42:04 · answer #4 · answered by G N A 6 · 2⤊ 1⤋
Let me sum it up nicely. You are commiting fraud. All states of laws saying you must own the item outright to pawn it. Yes, you could go to jail. Pawn shops love to prosecute people. They do not care if they get paid back ten years later for your crime Pawn tickets are contracts. That is why your id, signature, and thumb print are on the contract. It is layed out in the contract you must own the item. You can also be prosecuted for charging the item, not paying, then pawning it.
2007-10-26 18:09:06 · answer #5 · answered by Lily 7 · 1⤊ 3⤋
the legal lines with small buisness seem a little gray especially if you are the owner and sole investor.. you would be stealing from yourself in an essence... however, if you don't claim it on your taxes it could be fraud.. you would have to pay the buisness back the cost that you got from the pawn shop...and i would think it would be considered a liquidation of assets..
2007-10-26 17:55:35 · answer #6 · answered by tammy p 5 · 2⤊ 2⤋
It is possible. But it depends on a number of factors. Not knowing the particulars I really can't say too much. It might be an idea to contact an authority and ask, or even do some research at the library.
2007-10-26 18:02:30 · answer #7 · answered by ethology 4 · 0⤊ 4⤋
sounds dodgy as long as you pay for them you should be right
2007-10-26 17:55:49 · answer #8 · answered by timo 3 · 0⤊ 4⤋
depends, you can, but im 13 so i really cant help u on this one, try romance xD
2007-10-26 17:52:58 · answer #9 · answered by emerl19 2 · 0⤊ 6⤋