CREDIT CARD DEBT OWED ON A BUSINESS CREDIT CARD?
I recently found out that there is NO authorized signer on a corporate credit card I have been using.
I have never missed a payment in the four years since it was opened. The company refuses to speak with me regarding lowering the interest rate. Therefore, I stopped payments. Does the credit card company have legal recourse against me since I am not an authorized signer on the account?
Yes. Even though you were not officially listed as an authorized signer you have by your action of using the card become legally bound to the terms of the issuer. Since it is a corporate credit card many of the legal protections afforded to consumers on regular credit cards do not apply. As a practical matter they will after several months of adding on interest and missed payment fees look to your employer to pay up first under threat of canceling ALL their credit cards. Your employer will then pay up and deduct it from your wages and then fire you for mismanagement of company funds.
Shell Credit Card Center Corporate Challenge 1991