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Sllllliiiiight Problem, Opening Commissions and I mean it.
6 years ago
I need to open up for commissions, for...
Let's just say a while.
My father's passing has turned into a bit of a financial issue for me. Long story short, my father and I were business partners. Since him and I were 500 miles apart, I was more or less the financial backer.
Well, while going through his finances, turned out he was in a little bit of debt. And when I mean a little bit, I mean a lot. Sadly, because I was co-owner of the business. I am now financially responsible for paying off said debt.
So I kinda sorta need a second job as I blew all my savings on paying off some of the debt, and I have about.... Ummm....
*Grabs calculator*
Lets round it to $50,000, left to pay off.
So yeah, who wants some commissions? The goal is to try and make enough on commissions each month to take over my living expenses while my work income can work toward paying off $50,000.
Let's just say a while.
My father's passing has turned into a bit of a financial issue for me. Long story short, my father and I were business partners. Since him and I were 500 miles apart, I was more or less the financial backer.
Well, while going through his finances, turned out he was in a little bit of debt. And when I mean a little bit, I mean a lot. Sadly, because I was co-owner of the business. I am now financially responsible for paying off said debt.
So I kinda sorta need a second job as I blew all my savings on paying off some of the debt, and I have about.... Ummm....
*Grabs calculator*
Lets round it to $50,000, left to pay off.
So yeah, who wants some commissions? The goal is to try and make enough on commissions each month to take over my living expenses while my work income can work toward paying off $50,000.
1. You didn't pay me that $130 did you?! I remember you wanting to commission me but I don't ever remember you giving me a payment for it. D:
2. And yes and no on the expenses. As I mentioned, I'm 500 miles away and my dad was VP of the company. So I let him have free reign. I trusted him, given that he was my dad after all. And that $50k is not all bogus transactions. There was just a lot that, I was under the impression, was being paid out of pocket instead of making payments on them. There was a major trust factor given that it was my dad and that I really was limited as to what I could I saw in terms of transactions. Sure, I saw bank accounts. But I didn't see if a new account was opened in the company name.
It is what it is. *shrugs*
2. I'm glad you're seeing the lawyer about this, as a sole proprietor there is no entity 'the business' (that's just a marketing thing), which is terrible because you are the business so you can't bury your mistakes if you have to. However, in the same token, it doesn't seem correct that someone else should be able to open a new account 'in the company name'. There is no company, only you. He's opening an account in your name, his name, or he's opening a joint credit line in both of your names that both of you should have had to sign off on. I shouldn't be able to go to the bank and be like, "Hey, my sister and I had this great business idea, open up a line of credit for us and make her a cosigner even though she's not here." It just doesn't make sense, I'm glad you're seeing that lawyer and I hope they can give you some good news ^_^.