What to do if the company I work for lost a lawsuit it was involved in and now it is being brought back to court and I was also named?

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What to do if the company I work for lost a lawsuit it was involved in and now it is being brought back to court and I was also named?

It is being brought back to court for payment due. I was not named in the original lawsuit but am named now; I have been served papers because I received a substantial bonus that the other party claims was an attempt to deleted company funds available. If I am correct and the judgement goes the wrong way, this will affect or ruin my personal credit. What are my options?

Asked on June 17, 2013 under Business Law, Oklahoma

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If there is a judgment against you, it will only affect your credit in a substantial way if you do not pay it, the same as taking out a loan only has a significant negative impact on your credit if you don't pay the loan--it's the default, not the obligation, which hurts your credit.

If the bonus is large enough to be worth hiring an attorney over, you should hire your own--your company is not obligated to specifically defend you and your interests (under the law that is; if you had an employment contract requiring them to defend you, they may have to).


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