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The Ramsey Show Highlights

My Boss Overpaid Me $48,000 and Now They Want Me To Pay It Back

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 21 July 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app.

0:04.3

Start budgeting for free today.

0:06.7

I have a very complex payment situation that I need advice for.

0:13.2

So we started, we took your class, my husband and I back in September, October.

0:18.7

It completely changed our life.

0:20.7

We've been rapidly paying off debt, building up savings.

0:25.7

However, in the month of October, I work for a very large company,

0:30.7

and there was a payroll error where they accidentally paid me $50,000, $48,000, to be exact, gross payment in error.

0:43.3

I told them before it hit my bank account, but unfortunately it was too far gone at that point.

0:50.6

After taxes, I received net $28,000.

0:55.0

Approximately 3,300 of that was my paycheck.

1:00.0

And again, I told them before it hit my account, but they took so long to correct the error and get me my debt repayment letter.

1:09.0

We're now 10 months in the future.

1:15.7

And because it crossed the tax year, they're asking for gross repayment,

1:22.3

which is requiring me to come up with an extra approximately $23,000 of my own.

1:30.2

And I've already been taxed on this because it was taxed in my 2024 24 tax return as well which was additional money out of my pocket um they're offering to allow me to repay it in full which would be the full

1:36.5

48 um which net 3 300 of it is mine that i would have to repay back and i'm not sure how many get

1:43.8

that back in the future um but they also are giving me an option to deduct 15%

1:49.1

from my paycheck until the debt is paid I'm and I'm not sure what to do we have

1:54.8

the money so let me stop if I understood you right you don't owe 48 you owe 48

2:00.0

minus 3,300.

2:03.5

Well, net growth, 48.

...

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