Help with Handling chargebacks PLEASE! PLEASE! RESPOND

[VolAgent]

If you were advanced $500 (round numbers) and he was paid $500 in overrides, the debit balance is $1000 to his account.

When you pay the company, all you owe is the $500 you were advanced.

If you walk the loan, the manager has a right to come back to you and demand the amount he was charged back which in this case is $1000.

Is this scenario that you are explaining referred to as "rolling up the balance?"

In other words paying back a debit balance that's not just yours but what was your "upline's debit balance."

In what world do you owe a manager his override in case of a lapse or chargeback? That is one of the more ridiculous things I have heard. In a chargeback is rolled up to the manager, all you owe him is your chargeback that he had to pay to the company on your behalf.

 

[jmarkk1]

In what world do you owe a manager his override in case of a lapse or chargeback? That is one of the more ridiculous things I have heard. In a chargeback is rolled up to the manager, all you owe him is your chargeback that he had to pay to the company on your behalf.

I'm not saying that happened to me, but I have an issue with a debit balance that I'm trying to dispute. The company is using terms that I don't understand like "debit balance rolled up."

This whole commission stuff is really frustrating, and it sucks because the IMO/FMO that is paying you seems to be able to make up numbers as they go along.

I find it hard to believe that chargebacks of $800 that were paid off with new business that stays on the books for over a year somehow results in a debit balance of $2000.

 

[Norwayguy]

Does anyone know how a chargeback works if the company made a mistake and sent you a commission check and you called them to verify if it was yours and they said yes and now they are wanting you to pay it back and has made it a charge back against you.

Yes, You owe it, almost every EFT form I have ever seen and signed has a simple statement such as"

"I (We) authorize Company name to initiate Automated Clearing House credits and, if necessary, make corrections for any entries made to my account in error."

I know it seems wrong you get a credit to your account and contact the carrier and they assure you that it is correct and yours and you spend it and they come back wanting their money back...To add insult to injury it typically takes more than 90 days....Now when you find an error and 90 days has passed most of the time the Bank or Carrier says you need to inform them in a timely manner or that after so many days you accept the statement as correct. I know it sucks but thats the business we are in.

 

[GeminiGroup]

Norway is right..ugbxh1

Sir it isn't nor ever was your money....
Norway is correct and I agree that, the way it shakes out sux..... but honestly you didn't earn it, you know it.
It was simply a loan made to you in error, pay it back and move on...no biggie.

(Don't know why the bold is stuck, not my intention,sorry)

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