GRACE89 Posted May 7, 2021 Share Posted May 7, 2021 Not knowing what I was signing as a brand new PA, I signed a contract where I have to cover my own salary or I am in a deficit with the practice. My contract states only 20% of my collections goes towards my deficit. I was placed in a very slow office in which I was bringing in $20k to $35k each month. The first few years I worked with the practice I was digging myself in a large hole. I was thinking this "hole" was just to get me to a point where I would reach a bonus. I was not aware that I would actually owe this money. Now I am in the process terminating my employment with them and now the practice is coming after me for a significant amount of money. I have worked my butt off for this practice for years, how is possible ?? Any suggestions on how to handle this? Has anymore else signed themselves up for a nightmare of a situation like this? From now on, I will have a lawyer read my contracts so this does not happen moving forward. Quote Link to comment Share on other sites More sharing options...
MediMike Posted May 7, 2021 Share Posted May 7, 2021 2 hours ago, GRACE89 said: Not knowing what I was signing as a brand new PA, I signed a contract where I have to cover my own salary or I am in a deficit with the practice. My contract states only 20% of my collections goes towards my deficit. I was placed in a very slow office in which I was bringing in $20k to $35k each month. The first few years I worked with the practice I was digging myself in a large hole. I was thinking this "hole" was just to get me to a point where I would reach a bonus. I was not aware that I would actually owe this money. Now I am in the process terminating my employment with them and now the practice is coming after me for a significant amount of money. I have worked my butt off for this practice for years, how is possible ?? Any suggestions on how to handle this? Has anymore else signed themselves up for a nightmare of a situation like this? From now on, I will have a lawyer read my contracts so this does not happen moving forward. This sounds insane. I have read a lot of contracts, seen a lot of offers posted on here and haven't run across this. Check with a lawyer regarding the enforceability of this as it MAY be state dependent? Quote Link to comment Share on other sites More sharing options...
Arthropathy Posted May 7, 2021 Share Posted May 7, 2021 Take a deep breath. You 100% need to talk to a lawyer, but if you are W2 I don't this is enforceable. The numbers don't even make sense to me though, at minimum you are pulling in $240k and this doesn't cover your salary? Maybe not the first year but again you could be "paying back" at least $48k/year. Quote Link to comment Share on other sites More sharing options...
AbeTheBabe Posted May 8, 2021 Share Posted May 8, 2021 From what I'm understanding they were expecting you to cover 5 times your salary? That would be hilarious if it wasn't so sad. You should never sign a contract without a lawyer reviewing it, especially since you didn't understand it. Seek an advice from a lawyer, NOW. Without someone reading your whole contract and knowing the laws in your states, nothing anyone says on here is going to help you. Quote Link to comment Share on other sites More sharing options...
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