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Legal/financial experts? WWYD?

Posted by on Feb. 5, 2014 at 2:54 PM
  • 5 Replies

 I'll try to make this short....Years ago my dh and I worked for the same company.  They offered ESOP (employee stock ownership program, sort of like a 401K but not exactly).  I was with the company for 10 years, dh for 7 years.  In an acquisition in 2008, half of the company was purchased by a new company.  We, as employees became employees of the new company.  Our ESOP with the old company was paid out.  Here we are 6 years later...we get letters in the mail saying the ESOP was overpaid.  Mine by $226, DH by $305 and "If we pay by March 17, 2014, we will not be responsible for interest and penalties".  I called dh and he says no way we'll pay.  He says let them take us to small claims court.

So I guess my question is...Should we pay it?  This was a somewhat large hotel management company.  432 properties with thousands of part-time and full-time employees.  What are the chances that they would actually take us to court?  Would they actually win?  Or would they just send us to collections?  Is it our fault that their accountant sucks?  What do you think?  Would you pay it back?

by on Feb. 5, 2014 at 2:54 PM
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Replies (1-5):
-PB
by Gold Member on Feb. 5, 2014 at 3:50 PM

BUMP!

victoriaherring
by Bronze Member on Feb. 5, 2014 at 3:54 PM
1 mom liked this

I wouldn't pay. I would think its been too long for them to come back and ask. They should just cut their losses.. but maybe someone who knows more about his would be better to answer.. I would at least take it to lawyer and ask their advice.

-PB
by Gold Member on Feb. 5, 2014 at 4:01 PM

 I was thinking the same thing.  I mean, if say at least 6,000 employees left the company at that time and they were all overpaid, how would the company even press the issue?  I would think that would almost be more legal fees for them then what its worth.  And after all this time?  You'd think they would have discovered it sooner.

Quoting victoriaherring:

I wouldn't pay. I would think its been too long for them to come back and ask. They should just cut their losses.. but maybe someone who knows more about his would be better to answer.. I would at least take it to lawyer and ask their advice.

 

victoriaherring
by Bronze Member on Feb. 5, 2014 at 4:06 PM
1 mom liked this

I was thinking the same.. if they all were overpaid as much as you and your DH that is thousands and thousands of dollars.. How do you not notice thousands of dollars for 6 years..

Quoting -PB:

 I was thinking the same thing.  I mean, if say at least 6,000 employees left the company at that time and they were all overpaid, how would the company even press the issue?  I would think that would almost be more legal fees for them then what its worth.  And after all this time?  You'd think they would have discovered it sooner.

Quoting victoriaherring:

I wouldn't pay. I would think its been too long for them to come back and ask. They should just cut their losses.. but maybe someone who knows more about his would be better to answer.. I would at least take it to lawyer and ask their advice.

 


-PB
by Gold Member on Feb. 5, 2014 at 4:11 PM

 Yeah, someone probably got fired for that.  lol

Quoting victoriaherring:

I was thinking the same.. if they all were overpaid as much as you and your DH that is thousands and thousands of dollars.. How do you not notice thousands of dollars for 6 years..

Quoting -PB:

 I was thinking the same thing.  I mean, if say at least 6,000 employees left the company at that time and they were all overpaid, how would the company even press the issue?  I would think that would almost be more legal fees for them then what its worth.  And after all this time?  You'd think they would have discovered it sooner.

Quoting victoriaherring:

I wouldn't pay. I would think its been too long for them to come back and ask. They should just cut their losses.. but maybe someone who knows more about his would be better to answer.. I would at least take it to lawyer and ask their advice.

 


 

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