Oh god no...

[TheInternet1980]

So my story that I posted in this thread

Worst Economy Since Great Depression P&N

Originally posted by: TheInternet1980
No shit. My company is about to go out of business because of Wells Fargo freezing their credit line. In fact, we can't even make payroll. I've been working the last 2 weeks for free basically. Circuit City was one of our customers. 6 months ago we renewed our loan, and borrowed against the projected receivables, CC included. When CC filed for protection, Wells Fargo demanded that money back immediately. As in right fucking now. No monthly payment, etc. To the point where any deposited receivables have been being immediately seized by WF, including from our payroll account.

Keep in mind we do about $15m in annual business with other big box retailers....I just don't understand. I thought the bailout was to relax the credit crunch, not make it so banks don't give a shit if they write you off or not.

Needless to say, I'm a bit too emotionally involved to really look at our situation objectively....but personally speaking, the banks are doing some real harm here.

(Says the guy with $30 in his checking account

Has come back to royally bite me in the ass. Needless to say this issue is still not resolved, and the company now owes us 5 weeks of pay. They refuse to lay us off, and call either coming in, or filing for unemployment a "personal decision". WTF do I do? I have late rent, a late car payment, a check I don't have money to cover coming out of my account on Friday, car insurace to pay on the 20th, a ticket to pay on Friday (or a resulting bench warrant if I can't cover it), and general life chaos all around.

If these guys wouldn't have kept telling me "we're working on it, we expect issues to be resolved with the bank in a matter of days", I could've already been receiving unemployment benefits to cover these things. Now I'm totally fucked. I worked at this place for 3 years. We've never had a payroll issue once. Good lord, I am crushed.

UPDATE:
The bank is in the process of liquidating the company's assets. They have not filed for bankruptcy as of yet however. They have officially laid off all employees. No word on our 2 paychecks, but it's doubtful we'll ever see those. Especially since the bank has seized everything as of now, and the payroll debt is not theirs. My unemployment claim has been approved, and I should start seeing money from them next week.

I have a few interviews scheduled for next week for IT Admin/Engineer positions, so I'm crossing my fingers on those.

 

[rudeguy]

I'm sorry to hear that. That's wrong in a lot of ways.

Try to focus on what you can do right now, not on what you can't.

 

[Red Squirrel]

Is there any laws about a company having to give your pay by a certain period? Maybe you can bring them to court.

Then again it would probably cost you your job. Really sucks they can get away with that though.

 

[Muse]

When I've been on unemployment they asked me to sign statements asking how much money I made on a job whether I have gotten paid yet or not. It seems to me that in your circumstance they might make an exception. Contact them (be persistent if you must) and explain your situation. They should have an arrangement by which you can get retroactive unemployment benefits if your company doesn't pay you for the work you're doing. They might even have provisions to tide you over until you do get paid. Call your state Employment Development Department (that's what they call it in CA). Good luck!

 

[compuwiz1]

You have a sound reason to quit. Therefore, you should have a good enough reason to collect unemployment. I think if you explain to the unemployment people that you have been working and not getting paid, as well as what your employer has told you, your claim will probably be approved. I mean, if they never compensate you, how long can you let your employer steal your services?

You could be using the time that your company is not paying you for to be looking for another job. Unemployment compensation sucks, but it's something to live on while you find a new gig.

 

[TheInternet1980]

It's doubtful there are any attorneys who would litigate this with no money upfront. I've thought about it, and even called some people, but no one that would accommodate my current circumstances.

All I can really do at this point is file for unemployment benefits, wait, and hope they pay me for the month's + worth of work I'm owed. I cannot see that occurring currently. Then again, my level of trust in this place is not very high.

 

[irishScott]

Originally posted by: compuwiz1
You have a sound reason to quit. Therefore, you should have a good enough reason to collect unemployment. I think if you explain to the unemployment people that you have been working and not getting paid, as well as what your employer has told you, your claim will probably be approved. I mean, if they never compensate you, how long can you let your employer steal your services?

You could be using the time that your company is not paying you for to be looking for another job. Unemployment compensation sucks, but it's something to live on while you find a new gig.

this.

 

[IGBT]

..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

 

[TheInternet1980]

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

I think our economic problems run just a bit deeper than the media, but I digress. I don't have the energy to argue.

 

[SagaLore]

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

Yep, the magic media controls our economy. :thumbsup:

 

[Newfie]

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

This really the time to bring up that crap? In all seriousness?

 

[IGBT]

Originally posted by: Newfie

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

This really the time to bring up that crap? In all seriousness?

..so what are you going to do after the obama becomes president and the media says the economy is fine. it's your fault you can't find work??

 

[silverpig]

It's too bad you can't sign your owed wages over to your creditors.

 

[RadiclDreamer]

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

P&N <--- Go here and stop trolling

 

[darkswordsman17]

Originally posted by: IGBT

Originally posted by: Newfie

Originally posted by: IGBT
..well we've had eight years of the liberal media talking down the economy so who's surprised it's really come about.

This really the time to bring up that crap? In all seriousness?

..so what are you going to do after the obama becomes president and the media says the economy is fine. it's your fault you can't find work??

Go fucking troll somewhere else. Notice this isn't in P&N?

Beat to the punch.

And OP, that is a pretty shitty situation. I'd definitely be talking to the unemployment office and your work. Tell them you just plain cannot go without getting paid.

 

[TheInternet1980]

Originally posted by: silverpig
It's too bad you can't sign your owed wages over to your creditors.

That would be more than ideal. They'd never get the wages however. So I guess that's the reason such a policy does not exist

Terrible. It makes it worse that my boss (CFO) and I were pretty friendly. I feel stabbed in the back. I had full confidence they would work out a deal, or at least pay us what we were owed themselves, before closing the place up. I never expected things to go like this. Blindsided isn't even the word.

 

[Nik]

Why did you continue working for 5 weeks when they didn't pay you? Why didn't (don't?) you find a new job?

 

[TheInternet1980]

Originally posted by: Nik
Why did you continue working for 5 weeks when they didn't pay you? Why didn't (don't?) you find a new job?

We were a told a deal with the bank was close, very close. Numerous times. Trust me, had they been honest with me, I would've been on unemployment and looking for another job already. I'm not dumb. I also didn't want to abandon a decent job, if they did come out of things. We were assured we would be taken care of.

What was I supposed to do?

 

[XZeroII]

Originally posted by: Nik
Why did you continue working for 5 weeks when they didn't pay you? Why didn't (don't?) you find a new job?

Definitely. After missing one paycheck, you should have been riding them demanding to know what was going to happen. The company legally owes you that money so you have a right to know when you'll get it. If the company goes under, then no amount of litigation will help you because there is no money to get from them! Really, it's a tough situation that you're in and I feel for you, but you needed to take action sooner. Waiting 5 weeks is just stupid.

 

[IceBergSLiM]

so what you do is goto unemployment and file a class action lawsuit for unpaid wages. you also contact the state labor commission. Then steal everything you can on the way out and sell it on ebay. Fuck those guys.

 

[Ns1]

sounds like some nigerians were behind it all


but yes, that sucks.

 

[TheInternet1980]

Originally posted by: XZeroII
Definitely. After missing one paycheck, you should have been riding them demanding to know what was going to happen. The company legally owes you that money so you have a right to know when you'll get it. If the company goes under, then no amount of litigation will help you because there is no money to get from them! Really, it's a tough situation that you're in and I feel for you, but you needed to take action sooner. Waiting 5 weeks is just stupid.

As I said, I was pretty friendly with my boss. I received daily updates on the situation directly from him. Each day he would say they were getting closer, don't worry, etc. The entire company demanded answers as of today. We got vague non-responses (more than likely what their lawyers told them to say). Tomorrow is everyone's last day, not that they would say we're laid off. No one is coming in anymore is all.

I guess I learned a lesson in trust from this ordeal.

Dumb of me? Perhaps.

 

[tranceport]

<toughguy>

If they miss a paycheck, I'll carry the payroll server out of the building. They can cut me an expense check and I'll return the payroll server. /flex

</toughguy>

 

[TheInternet1980]

Originally posted by: tranceport
<toughguy>

If they miss a paycheck, I'll carry the payroll server out of the building. They can cut me an expense check and I'll return the payroll server. /flex

</toughguy>

:laugh:

That helped my mood a bit...lol

 

[Eli]

Damn, that's rough man. :Q

Definitely contact your state's employment office and tell them your story.