Bankers Life Charge Back

May 28, 2013

  1. Todd King
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    Todd King IMO/FMO Owner

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    It doesn't mean they can't be put into collections. We have agents get out of the business and think they aren't going to get dinged for the chargebacks and could care less about Vector. But then reality sets in when we send them to collections and they get hounded everyday to pay it.
     
  2. AfroPope
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    AfroPope Expert

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    Oh, they intend to pay it back and not get sent into collections, it's just a matter of how much they have to pay and how much they can tell Bankers to cram.
     
  3. marindependent
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    marindependent Guru

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    This sounds like a rip off.
     
  4. AfroPope
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    AfroPope Expert

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  5. stanley
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    stanley New Member

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    Sorry to resurrect a Zombie thread but I literally got hit with this today.

    How did you determine that the business was re-written? Any suggestions on what steps I should take to minimize how much BLC screws me over...

    Of course there was no documentation to back up the $$$ claim...just a form letter demanding payment.
     
    Last edited: Nov 8, 2016
    stanley, Nov 8, 2016
    #45
  6. jemelton
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    jemelton Guru

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    Ignore it. They are the devil. Send them a cease and decist and they will go away.
     
  7. SammyJ
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    SammyJ Guru

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    Interesting. So what your saying if you had a $3k debit for chargebacks and they vector you just negotiate? Will most companies take 50-60% of what you owe and remove the vector and not send it to collections?
     
    SammyJ, Nov 16, 2016
    #47
  8. stanley
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    stanley New Member

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    Got another 'nasty gram' from Bankers, along with either a threat to Vector me or a notice that they have Vector'd me...to be honest reading the notice that they sent I can't tell.

    Seems like it would be best to either email or snail mail them requesting supporting documentation regarding the balance that they claim that I owe vs speaking with them over the phone so I have documentation of everything.

    Also, the one time I answered the phone and it was the on the line the woman was very rude when I told her that I did not have time to talk to her right at that moment.
     
    stanley, Dec 8, 2016
    #48
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