Q: Can I bring suit against a former business partner for outstanding & defaulted credit card debt tied to me?
I have statements showing charges tied to him, none of which were made by me. I need help recovering the funds and working with the credit card company to resolve this. After many hours spent on calls trying to determine how and when this happened (initially thinking the card was fraudulently obtained) I offered a payoff for about 30% of the amount owed, but the debt dept. never called me back to discuss. I also have suffered a severe hit to my credit score and need to work with the credit bureaus to restore. The principle balance is approx. $12K, with penalties and interest accruing. I was unaware of this until March 2021, but charges are as old as 2018.
A: What did your partnership agreement say about who was to be responsible for what? Was the debt incurred for business purposes or personal purposes? In very general terms, you would resolve the issue with the bank that issued the credit card. Then, yes you could sue the former partner for paying something that was more than your share or more than you agreed to. However, if this former business partner is located in North Carolina, we have no wage garnishment for debt. Most people have no assets that can be taken to satisfy a judgment. You could get a judgment that is uncollectible. Look for a commercial collections attorney for further more specific advice.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.