Don't pay chargebacks - what can happen?

[STIBROKER]

yo lynx...have any toy duck left over....

http://www.youtube.com/watch?v=9O33rOvOoc0

 

[Lynx]

Sorry, gave all my left overs to friends and family and pets , love the vid.


thanks for the help guys...

 

[WBunch]

That video is hilarious...thats the only thing the duck is good for..

 

[WinoBlues]

OK, I have been getting emails demanding I pay or set up a payment plan for a charge back.

The thing is it is for a nsf'd case. It had not lapsed yet.
Oh, and I have not written Oxford for 10-15 years.

Knowing I had to deal with it eventually I just called them. Turns out they pulled it from my as earns. I think this is the first charge back I have had with them.

So glad they didn't vector me or roll up the debt for that .26 cents.

 

[rmhaire]

OK, I have been getting emails demanding I pay or set up a payment plan for a charge back.

The thing is it is for a nsf'd case. It had not lapsed yet.
Oh, and I have not written Oxford for 10-15 years.

Knowing I had to deal with it eventually I just them. Turns out they pulled it from my as earns. I think this is the first charge back I have had with them.

So glad they didn't vector me or roll up the debt for that .26 cents.

Should have gone with the payment plan

 

[shonceman]

Should have gone with the payment plan

I really would have thought about it! A demand letter for that small amount is just stupid. They paid more than that in postage & handling.

 

[WinoBlues]

Should have gone with the payment plan

I was going to. However, thankfully Genworth eft'd me $ .74, on an old number.

 

[WinoBlues]

I really would have thought about it! A demand letter for that small amount is just stupid. They paid more than that in postage & handling.

No a boomer would have sent a letter or just written it off. This was an email, from a Gen whatever.

 

[PrivClientSG]

Hi, new to this board, wish I found this forum when I was still a agent.
If I had I wouldn't have gone with Aflac. ughh

now you understand the title, I have left the business after a very horrible year with Aflac, as many of you know chargebacks with Aflac is unavoidable, I owe them over $700 (almost half of what i made working for them) some time goes by and I get a letter saying they will turn it over to their legal department(boo-hoo) if I don't pay, my question is, what will happen if I don't pay? sue me? ruin my credit? harrass me?

after racking up over $6000 in personal debt working for them (I know I know) and turning over alot of leads to another agent who opened a couple accounts that I was working on for a good part of a year. Paying Aflac back for the few commissions I made makes me sick.


any advice?

thanks,

While I am sure I am missing something here, and of course am absent all of the details -- the bottom line is that there were chargebacks. Period. Why not pay it? I understand you don't want to, and the thought of doing that "makes you sick" -- this is not about how something makes you feel. Your debt is independent of that and is irrelevant to the chargeback debt.

If you don't pay, yes, they certainly have the right to send this to their legal department and/or collection. It can certainly be entered onto your credit report. While it might not be cost effective, they can certainly sue you and get a judgment against you. At a minimum, this will go on your licensing/producer record and it may prevent you from getting licensed with other companies. Rather than trying to "beat them" -- why not simply step up and do the right thing and pay it. Just because you "can get away with it" doesn't mean you should "not pay" a valid debt. Good luck and all the best.

 

[PrivClientSG]

Owing a delinquent debt to an insurance company can prevent you from becoming appointed with other carriers.

It can also affect your E&O premiums, and open you up to sanctions from your state's DOI.

That is true! I didn't even mention E&O. Good point. In addition, the state DOI can and will sanction you. That too goes on your producer/license record. Outside this industry -- it can impact you as well. Apply for a job and if the application says anything about any licensing, sanctions, fines, etc. Plenty of applications and potential employers ask many questions about this and run both upper and lower, multiple depth/record, etc., background checks.