The University of Pennsylvania is suing an alum who skipped out on $3,361.01 in tuition 11 years ago. https://nypost.com/2022/04/16/penn-sues-big-biz-alumnus-over-3-3k-in-unpaid-tuition/ For a school with over $20b in endowment, I think Penn is being petty. What is 3k? If they hired an attorney, it will cost more than 3k.
Sue one, scare 1000. It could pay off. Say, don't you guys in US have a Statute of Limitations on debts? Or maybe the guy didn't go without payment or acknowledgement for enough years... Or is it like student loans - "Made to Last an Eternity?"
Besides - I note the grad is doing exceptionally well financially. Maybe it's a special warning, singling out a grad who is very successful. Maybe Penn has an eye on some others... As another poster said, in a different thread, "You have to look at the books, to know."
Yes, I can see where Penn is doing this as a matter of principle and not because they are desperate for 3k.
Good. He can easily afford it and is just being obstinate. If I were the IRS I would be looking at his finances more deeply given his history of running out on his debts.
In this case, I doubt it. The defendant is an astute businessman - smart enough to know that the suit is an item of public record - available to his employer and who knows how many others. And he's doubtless aware of the adverse effects, if judgment is found against him. I'd figure he's smart enough to pony up right away, before any court proceedings, - including, of course, Penn's costs. Shouldn't cost Penn a dime out of their (admittedly deep) pockets.
The foregoing is just my take on this one - I could always be wrong. FWIW I collected debts for a living for many years - plenty of lawsuits. Most well-to-do people didn't get wealthy by being dumb. I think this man will do the right thing.
Trying to grasp a monthly housing payment of $6400 against a base salary of only $235k. Granted it’s Manhattan and there’s a decent bonus plan… but…
ONLY 235 K? ONLY? Do I assume you're making more? His take with bonus etc is around $385K so his housing payment represents about 30% of his gross salary and about 20% of his gross with bonus etc. Yes, it's a big monthly nut, but proportional to his income. Many people with far less spend the same percentage on housing - not the same total figure of course. Earn big - spend big. Don't like it? Move to Jersey. A broom closet in Manhattan costs $3K and up. I have zero sympathy. He is NOT house-poor. Not poor in any sense. The money he owes Penn is about 2 1/2 days of his gross income. Sympathy is not an appropriate thing to have for someone with a stratospheric income. As B.B. King sang, this guy is just... "Payin' the cost to be the boss."
