Reported to Vector-1

[capnjim01]

I just parted was with a company last week and today I received a termantion letter from them saying that I have a debt balance with them and have been reported to Vector-1. I need to return my leads to them and my balance may be adjusted.

Also they say my charge backs could incease. How big a deal is Vector I have already been hired by another company.

 

[Josh]

A vector hit can kill your ability to contact with carriers. It also means you have a debt that should be repaid (at least usually). Often times it's bark to scare you into paying them what they're owed, but just settle it out with them and you'll have nothing to worry about.

 

[donamese]

Your best bet is to settle it up and get it taken care of. If you want to get appointed by other companies they will more than likely decline you. If your new carrier does an annual check up on their producers and pulls a vector report, you could likely be terminated from them in the future as well.

It is a debt owed so it is a debt that needs to be repaid, if you think it is unjustified you can appeal it with Vector otherwise, just pay it and no problems.

 

[Mattschmidt]

Just play the game and pay the debt as soon as possible...Keep detailed records of what you paid, in case they screw with you and claim that they never received payment. The sooner the better

 

[capnjim01]

I was going to ask for a detailed accounting and then see what I can work out. I think this may be SOP with these people.

 

[xrac]

I was going to ask for a detailed accounting and then see what I can work out. I think this may be SOP with these people.

Sounds like a SOP. Why would they start talking Vector when they haven't even told you how much or given you a chance to settle up.