Unearned Commissions - Vectors

[GoCubsGo]

I agree with you and JD, that the debt should have been settled immediately or if it was not possible to send them the money, then at least contact them.. preferably the day the letter was received.

However, I have a real problem with the IMO putting those big, bold stickers on the outside of the envelope. Not only is it possibly illegal, it is certainly uncalled for on what appears to be no more than a second notice. Could be the first notice wasn't received.

I would pay my debt immediately and then I would find another IMO.

I agree, pay the debt and find a new IMO. I'm thinking if you were writing any business with them they wouldn't have treated you like that. Either way you can forward the envelope to the attorney general in your state.

 

[VolAgent]

I agree with you and JD, that the debt should have been settled immediately or if it was not possible to send them the money, then at least contact them.. preferably the day the letter was received.

However, I have a real problem with the IMO putting those big, bold stickers on the outside of the envelope. Not only is it possibly illegal, it is certainly uncalled for on what appears to be no more than a second notice. Could be the first notice wasn't received.

I would pay my debt immediately and then I would find another IMO.

I have heard the other side of the story now. According to the IMO, it wasn't just one month this debt sat without being settled or acknowledged, but several months. According to the IMO, attempts have been made since August or so to collect with friendly letters.

There usually is more to the story. It is probably something closer to the middle of these two sides. And at this point, the IMO probably would like the agent to move on as well, once the debt is settled.

 

[rousemark]

I have heard the other side of the story now. According to the IMO, it wasn't just one month this debt sat without being settled or acknowledged, but several months. According to the IMO, attempts have been made since August or so to collect with friendly letters.

There usually is more to the story. It is probably something closer to the middle of these two sides. And at this point, the IMO probably would like the agent to move on as well, once the debt is settled.

Sounds as if that would be best for both parties..

 

[Norwayguy]

Funny I got a letter from Rosenthal as well wanting to give me a raise if I just wrote 1 piece of business with UHL. Its a carrier I contracted with because I liked the IMO but jumped to fast on the paperwork as the only product approved for sale in my state is one of the simplified whole life express type products that I have other go to companies for.

 

[GoCubsGo]

I have heard the other side of the story now. According to the IMO, it wasn't just one month this debt sat without being settled or acknowledged, but several months. According to the IMO, attempts have been made since August or so to collect with friendly letters.

There usually is more to the story. It is probably something closer to the middle of these two sides. And at this point, the IMO probably would like the agent to move on as well, once the debt is settled.

This IMO needs to get some legal advice about debt collecting. As Crabcake pointed out and the fact that they discussed it with you I believe has them on the wrong side of the law and vulnerable to legal action.

 

[VolAgent]

This IMO needs to get some legal advice about debt collecting. As Crabcake pointed out and the fact that they discussed it with you I believe as them on the wrong side of the law and vulnerable to legal action.

Probably good advice. The person who told me is not the person who handles collections. They might need to get on the same page.

For the record, I do not use this IMO nor do I know the agent in question. I got dragged into this because I posted my thoughts on this thread. I'm starting to regret it as I have gotten several PMs over it.

 

[Crabcake Johnny]

Putting markings about debt collection on the outside of an envelope is indeed illegal and very poor form.

If you're living with roommates, everyone may see that letter. In my community, about 4 times a month the mail goes into the wrong box and our neighbors drop it off to us.

 

[Todd King]

In thinking about this a little bit more, yes, I still feel as though it was a bit unprofessional to post those stickies all over the front of the envelope, yet I can understand why they did it. As an IMO, I can say that we are not always up to speed on all the laws and I'm sure the IMO will investigate this and then take the appropriate action accordingly.

Also, if the agent did owe for a debit balance and had ignored months of requests, then that is unprofessional as well. I have seen many agents ignore things from there upline as they would assume it's just another marketing piece. Goes to show, you should at least give it a look-see as you never know.

It amazes me that agents actually ignore requests by the companies to pay their debit balance. Do they really think it will just go away? That sure is how many agents treat it!

 

[Crabcake Johnny]

Because an agent doesn't pay a debt doesn't mean it's a race to the bottom. If collection efforts have failed you can always turn them over to a debt collection service. If the debt is large enough (thousands possibly) it might be worth it to pursue a court judgement.

 

[Norwayguy]

In thinking about this a little bit more, yes, I still feel as though it was a bit unprofessional to post those stickies all over the front of the envelope, yet I can understand why they did it. As an IMO, I can say that we are not always up to speed on all the laws and I'm sure the IMO will investigate this and then take the appropriate action accordingly.

Also, if the agent did owe for a debit balance and had ignored months of requests, then that is unprofessional as well. I have seen many agents ignore things from there upline as they would assume it's just another marketing piece. Goes to show, you should at least give it a look-see as you never know.

It amazes me that agents actually ignore requests by the companies to pay their debit balance. Do they really think it will just go away? That sure is how many agents treat it!

It's interesting this comes up now....Last year I moved my last MoP med sup client to another carrier and get thief emails about once a month about my commission statement (something only available on thier website). So recently wrote a piece of business so finally looked at the statement only to find out I had a 29 dollar debit balance....If they had written me I would have paid it.