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Christopher B, Esq.
Christopher B, Esq., Lawyer
Category: Employment Law
Satisfied Customers: 2963
Experience:  associate attorney
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I terminated my relationship with my broker/dealer (I was a

Customer Question

I terminated my relationship with my broker/dealer (I was a registered rep - paid commissions - reported on 1099). They are now saying that I owe them $10,000 for an old unspecified account. Is that legal?
Submitted: 1 year ago.
Category: Employment Law
Expert:  Christopher B, Esq. replied 1 year ago.

My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship.

Legal is not the right word. They either have a legitimate claim or they do not. If you feel they do not then you are free to not pay the claim and dispute it. The company can then sue you and you can assert any defenses. The company then will have to prove that the claim is legitimate and the burden is on them to prove it. The judge or jury would then decide if the company should be paid the money they say you owe. So to answer your question, yes this is legal but if it is not legitimate you do not have to pay it and can fight it in court.

Please let me know if you have any further questions and please positively rate my answer if satisfied. There should be smiley faces or numbers from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated for my time by the site.

Expert:  Christopher B, Esq. replied 1 year ago.

Just checking back in, do you have any further questions?