I called the credit card company's dispute dept and told them what happened and that I want the charge reveresed. They said they will look into it but couldn't say for sure if it will be. I then called collections and told them that I was reversing the charge. He told me if I didn't think I owed it then why did I put it on my credit card. I told him..because you threatened to go to call my place of employment for the money TODAY..and get it. So he said...if I told you to jump off a bridge would you do it...

So I told him to provide me with the documents claiming proof I hold this debt..if you cannot do so then I expect I will not be hearing from you again and wished him a good day.

I can't believe I allowed myself to be at their mercy...I feel so ashamed I can't even tell anyone about this...sort of the same way I felt when I got taken i buying a timeshare in Mexico...but that's a whole new issue. Hey anyone got some ocean front property they would like to sell me!!!

Thanks, Angella, for your advice. I'll keep you posted as to how this unfolds.

Call the credit card company and reverse the charges. Absolutely do that. If the collection agency calls again, refer them to your lawyer and hang up the phone. There is no need to tolerate verbal abuse. You have the power to simply... hang up the phone. Do so.

Angella..to answer your quesions:

The business is a corporation..formed about 30 or so yrs ago. The line of credit was soley gurareented by the original owner. Other than having signing authority on the account with my partner I have not signed anything else.

At the time of my first call from collections...I tried to remember back to over 2 yrs ago to whether or not the line had ever been signed over to us..and that it now was our personal garentee .I had signed a great many papers that day in the bank and just couldn't remember...and nor could he. Appears it is still in his name and only his name.

When I asked collections for a copy of what I had signed she said..I don't have it...I am not CIBC and I have had use of the money so therefor it is up to me to pay it back TODAY..she said it would take her 6-8 wks to get the documents and it wasn't her job to that . When Isaid I would go the bank then and get it from them...she said I am not dealing with the bank...I am dealing with her. I feel so ashamed for not standing my ground. I feel so intimidated and embarassed I can't even talk to anyone close to me about this. I have never missed any sort of payment other than a couple times being a day or two late making one. She said she had a credit history of me in front of her and knows that I could put this entire amount on my credit cards to settle this TODAY!! It was all about this being done TODAY!! and the way she said it..the way she talked right over me..asking me if I had a split personality..and to stop yelling into the phone..when i said over and over I am not putting anything more on any credit card...to pay a line of credit with a credit card..and now to find out that it wasn't even in my name...is that legal..how do I become responsible for paying a debt not in my name?

Then she said...I sound like a good person..wanting to do the right thing..so just pay TODAY and we'll send you a copy releasing me from any further debt. When I asked for a copy of that..she said..not about to send that until I authorize the charge to my card...and I said..not likely..then she said...what do you think we are here...a bunch of crooks..that's not how we operate...the conversations were all lengthy and tiring..wearing me down to where I almost said..FINE..whatever...but I didn't!! Thank god I didn't!!! I told her I had to leave for the bank appt..this call was at 8:45am..the bank appt was at 9:30...I said I had to go and hung up then seconds later her manager calls me back!!

What would you be doing at this point in time???
Thanks you for any suggestions...
D.

Well..she is till calling..up to 4x a day and now her manager is calling right after her..so i called a lwayer and the first thing she told me was to give them nothing and go to the bank and get copies of everything that has my signature on it. My partner and I went there this morning. the bank had nothing...I mean, nothing..with our signatures on it for this line of credit. It had been personally guarenteed by the original owner of the co. and they could not show us any of that. This money had already been spent when I came into the picture. My partner, N was already a partner with the original sole owner, S. He got involved when S needed more money to complete the new business. For that, S gave him 50% of the co. When the line of credit was maxed and they realized they needed more cash they approached me. I told them I would be happy to lend them some money as I wanted to see this business open and they were so close. I am not related or involved with either one...for that S told me he would give me 30% of the co. Soon after, they needed more money. They came to me...I gave them more and S sold me the remaining 20% for a substantial amt which I paid him personally..and he said he was free and clear of the co. It came with some restrictions..one that the business bears his name..and that we pay off the line of credit. I have no day to day dealings with the business now open for 2 yrs and rarely see any books, etc. I speak occasionally to my partner. He said everything was going well. At no time did I know that the payments on the line of credit were not being made and that now with interest it had exceeded its limit...thus the bank going to S to collect...thus S saying he had sold the co to us and that it is for us to pay...they contacted N the same day as me and made the same demands. N told them he couldn't pay anything right now...so they call me...I am out of prov. at the time I get the call...they tell me if I do not pay this amt in full TODAY they will be contacting my employer to get the money...she called me 4x that day...I told her it would have to wait until I got back home and she said NO..it could not...it had to be dealt with TODAY..and who do I think I am to tell her when I am dealing with this very serious matter...am I for real...these conversations are being recorded...and she was calling me on my cell phone and the calls were at least 15-20 min. each. She was relentless. This started on Thurs. Fri am she called me to say I was to call her back first thing in the morning and now its 11am..can't I tell time? I must put at least $5G on my credit card TODAY..or they will be calling my employer TODAY to get the money. By this time, I was shaking...and caved...telling her I didn't have a credit card with me that had that amt...that is not my problem..she had a copyof my credit report and knew I had cards that had that accessable limit and I needed to authorize payment TODAY!!! I had to call my partner..send him to my house, have him go thru my files and find the credit card...he called her with the number and yes, it went thru. She called me Mon. am and said I needed to put the remaining amt on my credit card TODAY...and when I told her absolutely not..it would have to wait until I got back home...that is not my problem...and the calls continued up until 8:47 pm that nite...I did not answer..she left me voice mail. She then called me the next day from the number that I had returned a call to her..the relative I was saying with and asked me why I did not answer her calls...and the it started all over. I told her I would handle this when I got home. I wasn't home 10 minutes on Wed. when the calls started...and have continued...now its her and her manager...last call to him I told him we returned from the bank and was told only one signature was on the line of credit and it was S. So where does that leave me now?? I just put money on something that sisn't even have my signature on...they now offered us a one time deal of paying an additional $37G to clear up the acct and release us...but if they do not have the money by Oct 31...the deal is off and we need to pay the full amt. And for me...since I've paid $5 already..if I just put $16G on my credit card they will release me and I won't hear from them again..now let me offer this one time deal to your partner...at which time I put him on the phone and he said we'll let him know on Wed. And that's where we are TODAY!!! If this wasn't happening to me...I would not believe it!!! Does any of this sound familiar...is this how these people operate??? I am seeking the advice of a lawyer and my partner is seeing his on Mon. If anyone has had anything similar please help me...I have not eaten or slept in days...this is anguish...I should be suing them for trying to extort money from me on something that I did not sign...I should be able to have the credit card amt. reversed..I was cohersed into authorizing it under diress....this is madness!!!

BTW... you are not responsible for "paying this now" and, should you chose not to "pay this now" there's pretty much f*ckall she can do about it.

Don't do a damn thing till your business partner consults his lawyer. What she is doing is harassment and illegal and I would consider filing a small claims action against her on those grounds.

Is your business a corporation or actual partnership? Is the line of credit under the partner's name or the business name?

Well..here I am..over 50 yrs old and just rec'd my first call from a collection agency...why?? because my business partner allowed a line of credit to go unattended to and now it is in the hands of collections..so get this!! because he has no record of income they have come after me and called me on my cell while I was out of province and told me I had until 3pm to come up with the money or they would be garnisheeing my wage (I work at another company and am only a silent business partner..having nothing to do with the daily running of the business). I told them I would not be back at home until the following wk and she said that would not work and I had to give a credit card number to them and pay a substantial amount. I did not even have a credit card with me. Not her problem, she said. She called me a total of 7x in 2 days..including hanging up on me and when I told her my cell phone was going to go dead and I had to hang up..she called me back and brutally asked me why I hung up on her. I told her I would call her to further discuss this when I reached a land line. I did so. These conversations were the worst I had ever had in my life. She asked me if "I were real" "If there was something wrong with me" .."to stop interrupting her" "all conversations were being recorded" "they were calling my employer to have my wage garnisheed for the total amount for which I am responsible for". She called at 7pm..she called at 8:52pm all on my cell phone which I did not answer because the ld charges were already more than I wished to be paying for and what would I have left to say to her and resolve. The next morning she called the number which I had called her back on which happened to be a family member. "Why didn't you answer your phone when I called" "why didn't you call me back first thing this morning..it's 11am". I finally caved...and had my business partner back home go to my house and go thru my files and retrive my ccard and call her to put a large amount on my credit card...hoping this would give me time to get home and speak with my partner. I made arrangements to be home 2 days sooner than planned by borrowing a car..(not her problem, she told me) and wasn't in my house 10 minutes when she called me and asked me what I was doing about this very serious issue. What can I do??? I know the business owes this money but hasn't been paying since it hasn't had the money...and nor do I personally..and nor does my business partner. What is our next move??? She says this needs to be paid within 24 hrs..not 2 a wk not 2 wks...my partner is speaking to a lawyer tomorrow but she is calling me again in the morning..and I am responsible for paying this now.