Bankers Life Charge Back

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.

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.
 
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.

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.
 
Around 70% was business that was re-written by other BLC agents.

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.
 
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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?
 
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.
 
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