Vector Report

[cleanstrings]

Good grief. I feel like I'm the only slob to have a debit balance. The IMO I left even suggested offering existing clients a better deal. I will repay them.

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This is my second year in this business. I've learned a lot but did not pay attention to how serious debit balances are. I sure do now

 

[bboman23]

Good grief. I feel like I'm the only slob to have a debit balance. The IMO I left even suggested offering existing clients a better deal. I will repay them.

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This is my second year in this business. I've learned a lot but did not pay attention to how serious debit balances are. I sure do now

Transamerica only checks vector due to them.

 

[hardworker]

OK, so would he have a Vector hit if he had contacted the carrier and began to make payments of the balance? How does the Vector work?

 

[prljam70]

OK, so would he have a Vector hit if he had contacted the carrier and began to make payments of the balance? How does the Vector work?

Vector is similar to your "Credit Report" when it comes to insurance companies. Most companies will work with you if you have only 1 and show proof of repayment or a repayment plan in place. If you have multiple vector hits though, it can be tough to get contracted with other carriers. But typically, at least in my experience, as long as you have made your effort, you shouldn't have an issue. In this case, most companies that I write for wouldn't contract him due to having 2 or more hits.


ps- Vector shows even if you have made payments. It will not be taken down until the debt is satisfied one way or another.

 

[goillini52]

OK, so would he have a Vector hit if he had contacted the carrier and began to make payments of the balance? How does the Vector work?

I don't think it would ever be turned in to Vector if payment arrangements are made in a timely manner.

 

[prljam70]

I don't think it would ever be turned in to Vector if payment arrangements are made in a timely manner.

This is true!!........................................

 

[argar5]

OK makes sense. I am making payments. About 4k

you must've put a lot of junk on the books to have a debt that high

 

[onefastpony]

you must've put a lot of junk on the books to have a debt that high

Not really. That's about 3-4 apps with some.

 

[argar5]

Not really. That's about 3-4 apps with some.

doesn't matter $4000 is $4000 r

 

[onefastpony]

doesn't matter $4000 is $4000 r

My counter point to your point was that 4K doesn't mean A LOT of junk business. I write that on three apps.