Do property and casualty carriers care about life insurance vector?

[Heather54756529]

Hi please help me if you can. I moved recently due to health issues and the carrier didn’t email or call me. I know this is not an excuse for anything and I would never allowed this to happen! Had policies cancel. Got some chargebacks and was emailed by ANOTHER carrier that I had a vector hit. Reached out to carrier with vector to set up a payment plan. I can’t pay it all at once. I got a great job that I’m currently licensed at doing commercial and I’m wondering if I’ll have problems with getting contracted with their carriers? It’s through them all commercial carriers. Lots more guidance here and no chance for chargebacks. I appreciate anyone’s help if they know. I know I messed up! :(

 

[goillini52]

Hi please help me if you can. I moved recently due to health issues and the carrier didn’t email or call me. I know this is not an excuse for anything and I would never allowed this to happen! Had policies cancel. Got some chargebacks and was emailed by ANOTHER carrier that I had a vector hit. Reached out to carrier with vector to set up a payment plan. I can’t pay it all at once. I got a great job that I’m currently licensed at doing commercial and I’m wondering if I’ll have problems with getting contracted with their carriers? It’s through them all commercial carriers. Lots more guidance here and no chance for chargebacks. I appreciate anyone’s help if they know. I know I messed up! :(

I think it will affect you getting new contracts until you pay the chargebacks.

 

[Newby]

Hi please help me if you can. I moved recently due to health issues and the carrier didn’t email or call me. I know this is not an excuse for anything and I would never allowed this to happen! Had policies cancel. Got some chargebacks and was emailed by ANOTHER carrier that I had a vector hit. Reached out to carrier with vector to set up a payment plan. I can’t pay it all at once. I got a great job that I’m currently licensed at doing commercial and I’m wondering if I’ll have problems with getting contracted with their carriers? It’s through them all commercial carriers. Lots more guidance here and no chance for chargebacks. I appreciate anyone’s help if they know. I know I messed up! :(

A Vector is basically telling them that you have run up bad debt and have not paid it back. So yes that will concern anyone that is going to be co-signing your business.
If the Vector is correct you need to work out a payment plan.
If the Vector is incorrect you need to contest it.
If you just ignore it, it won’t go away and will affect you as long as you work in insurance.