Overpaid by previous employer

ScorpiondeRooftrouser

Spend it on what?

There's no "this money" and "that money". there's just money.

if you have a bill coming up that you would otherwise have to borrow money at interest to pay, then of course use this. If they do ask for it back in a lump sum, worst case is that you borrow the money at interest then.

If you want to blow it on shoes, then are you prepared to end up paying lot of interest for those shoes if and when they ask for it back.

"Theft" doesn't come into it. You owe them this money. What money you have or don't have is immaterial, you will need to find the money to repay it when asked.

first78

ScorpiondeRooftrouser wrote: »

Spend it on what?

There's no "this money" and "that money". there's just money.

if you have a bill coming up that you would otherwise have to borrow money at interest to pay, then of course use this. If they do ask for it back in a lump sum, worst case is that you borrow the money at interest then.

If you want to blow it on shoes, then are you prepared to end up paying lot of interest for those shoes if and when they ask for it back.

"Theft" doesn't come into it. You owe them this money. What money you have or don't have is immaterial, you will need to find the money to repay it when asked.

I was going to use it to overpay my mortgage. I know I owe them the money but I have told them of their error and was advised they would write and tell me how to repay the money.

ScorpiondeRooftrouser

first78 wrote: »

I was going to use it to overpay my mortgage. I know I owe them the money but I have told them of their error and was advised they would write and tell me how to repay the money.

Is it a flexible mortgage? Can you get the money back in a lump if you need it? if so then there's no reason you shouldn't do this.

If you can't draw the money back out of the mortgage and you won't be able to repay the money if they request it all at once and immediately, then obviously not such a good idea.

jobbingmusician

first78 wrote: »

I am planning to move in 2-3 years...I feel like I have notified them, if I hadn't God only knows how long they may have continued to pay me for! I don't feel at all inclined to keep chasing them to try and give the money back, I've made them aware of their mistake and the way I see it is the ball is now in their court.

Yes, you have notified them, but they have 6 years to pursue the debt. So you need either to pay it, or to ensure that you are contactable if they wish to pursue it.

(Personally, I think the way I would handle it is that if they hadn't pursued the debt by the time I moved, I would send them a letter simply informing them of my change of address, asking them to amend the details in your personnel file [which they also have to keep for 6 years] with no explanation as to why I was giving them the information. I think there is still a risk that they might pursue you, but you should at least then get notification of any bills!)

PS I actually guess that they will pursue this debt within a month/3months or, at the end of their next tax year (Mar?) or not at all......

FBaby

It's a payroll system. It will happen, it just a question of when....which means that you could even be paid yet another month before they take any action!

So what? You haven't earned that money, why do you think you should be entitled to it? Useless or not, it doesn't give you any right to spend money that is not yours. You are clearly desperate to do so, but your feelings shouldn't come into it.

ScorpiondeRooftrouser

Jesus Christ. Of course he can spend it. Anyone can spend money they have in their possession. Spending it and paying it back when required to do so are entirely unrelated things. Why do people have such difficulty with this?

hyubh

ScorpiondeRooftrouser wrote: »

Jesus Christ. Of course he can spend it. Anyone can spend money they have in their possession. Spending it and paying it back when required to do so are entirely unrelated things. Why do people have such difficulty with this?

The OP has said they wish to spend money they know is not theirs, then spin out a repayment plan when the rightful owner requests it. Jesus Christ, I understand, had higher standards than that.

ScorpiondeRooftrouser

hyubh wrote: »

The OP has said they wish to spend money they know is not theirs, then spin out a repayment plan when the rightful owner requests it. Jesus Christ, I understand, had higher standards than that.

If they ask for installments, then why shouldn't he pay it back in installments? it was their mistake.

If they ask for it all back at once, he can pay it all back at once.

As long as he can pay the money he owes them back as and when they ask for it, there is nothing precluding him spending whatever money he wants to now. There is nothing dishonest about spending whatever money he wants to now. How can you not see that? It's not a bundle of marked fivers, with them wanting the same ones back they gave him.