Last year, employees charged $140 billion on their company credit cards. If the company goes under or doesn’t pay, the cardholder could be forced to pay the balance.
According to RPMG research, 35 percent of corporate cards have individual or joint liability arrangements where the employee is responsible for the debt. Surprisingly, large companies are the most likely to make their employees personally liable for their company cards. You may be personally responsible for your corporate card debt if: the card shows up on your credit report; you are required to pay the bill yourself and then get reimbursed; or you provided personal financial information to get the card. – ABC News
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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