Bankers Life Charge Back

May 28, 2013

  1. Chazm
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    Chazm Guru

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    I would do the 6 month plan personally if I were in your situation
     
    Chazm, Sep 20, 2013
    #31
  2. Indy007
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    I was in the exact same situation, albeit a MUCH larger balance. I called home office and had the girl email me my comp statements for the last year so I could find each and every chargeback. Around 70% was business that was re-written by other BLC agents. I disputed that with them and she offered 20% off if I paid in full. I wanted 40%, she couldn't offer that and had to get approval. She called back the next day and said the 40% got approved, so I bit the bullet and paid 60% of the debit balance in full. They had Vectored me a few days prior, and removed me with confirmation immediately. Your balance is relatively small, just offer them a settlement, and pay it to put it behind you.
     
    Indy007, Sep 22, 2013
    #32
  3. xrac
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    This was a smart way to handle it.
     
    xrac, Sep 22, 2013
    #33
  4. axeman462
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    Ok, but does being vectored hurt my credit?
     
  5. Indy007
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    No, but if carriers drop you or you can't get appointed with companies you need, that will hurt your income which in turn may hurt your credit.
     
    Indy007, Sep 23, 2013
    #35
  6. axeman462
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    I wasnt aware that carriers could/would drop me if I got vectored. thank you

    called bankers this morning. waiting for them to email me a comp statement. plan on paying it off in full today. :-/
     
  7. drm0913
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    drm0913 New Member

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    Have you ever gotten an itemized statement showing the exact charges they claim you owe? Do you mind me asking what state you are in? I hope some day someone starts a class action suit against them. I am dealing with the same thing.
     
    drm0913, Jun 13, 2014
    #37
  8. AfroPope
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    Sorry to bump an old thread but I wanted to check in with folks. Bunch of my old coworkers quit Bankers right before or after I did and have started getting these same letters.

    Same procedure, right? Which is to say, get the comp statement; if the chargebacks are lapses and cancellations then try to work with them but if they're from people rewriting your business, tell them to pound sand?

    None of these folks are selling insurance anymore so I don't think they care about being vectored.
     
  9. gambrinus
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    gambrinus Guru

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    They run ads non-stop in the Denver area..

    Good to know to stay away from them.
     
  10. axeman462
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    tell them to negotiate it down. When I left Bankers, I had a few charge backs, they took something like 60 cents on the dollar
     
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