Back pay/no pay
I was working for a start up company for over 3 years. Money was always tight and we rarley got paid on time. During the end of my employment I went over 2 months without pay, before I left for another job. I have been promissed when the company has money they will pay me, but they are in a terrible financial situiaiton at this point and don't even meet payroll as it is. It has been 5 months, I don't have anything in writing on how much they owe me but I know the ammount and can get a letter stating that from them or the former CEO. I haven't seen a dime since I left and they just keep stringing me along. What are my options and how can I get my money as quick as possible, as playing the nice guy obviously isn't working?
1 answer | asked Nov 16, 2006 3:29 PM [EST] | applies to Ohio
Answers (1)
You should probably file suit to collect your wages. It appears that your employer will not dispute that it owes you the money. Therefore, the only issue for trial will be how much it owes you. The case should proceed fairly fast and should end with you obtaining a judgment for the amount of unpaid wages, interest on the unpaid wages at about 6% and possible penalties for late payment under Ohio revised code section 4113.15. Search MEL's answers for "4113.15" to find more about that code section. It allows you to get a penalty of up to $200 per violation (i.e, each failure to pay).
The harder part it appears will be collecting the judgment. It sounds like your former employer does not have the money to pay it. This means you should act fast, since the ship may be sinking, and keep realistic expectations about being able to collect.
Consider consulting an attorney to assist you with this process. Some collections attorneys will work on a percentage of what they collect. You may also be able to negotiate a payment of a reduced amount in exchange for agreeing not to sue. If any part of the negotiated payment is deferred (i.e., not paid immediately), ask for a "cognovit" note. Call me if you get that far and need to know more about cognovit notes.
Regards,
Neil Klingshirn.
posted by Neil Klingshirn | Nov 17, 2006 4:26 PM [EST]
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