Vector

[damadcrapper]

One of my new agents has a small Vector with an old carrier - it was disputed lead costs which has since been resolved. Two of the carriers I spoke with said they belong to vector and check it, but don't report agent debt too it. It seems to me if the carriers aren't reporting it, but checking it for new agents, they should know they are not getting accurate data. Has anyone else heard this? I was going to subscribe but don't want to waste my money.

 

[jdeasy]

I don't really understand the question. But what I've seen of people that don't pay their bills it's very rare to be only one bill they aren't paying.

If it's truly one bill on their record then I would certainly give that strong consideration in their favor.

 

[Todd King]

One of my new agents has a small Vector with an old carrier - it was disputed lead costs which has since been resolved. Two of the carriers I spoke with said they belong to vector and check it, but don't report agent debt too it. It seems to me if the carriers aren't reporting it, but checking it for new agents, they should know they are not getting accurate data. Has anyone else heard this? I was going to subscribe but don't want to waste my money.

Some companies don't report to Vector. They will just roll the debt to the upline and let the upline handle it from there. When that happens to us, we just put the agent on Vector ourselves.

 

[damadcrapper]

Thanks Todd. I am actually questioning the value/accuracy of Vector. Many carriers do not report agents. As you mentioned, the debt gets rolled to the upline who normally pays it.

 

[Todd King]

Thanks Todd. I am actually questioning the value/accuracy of Vector. Many carriers do not report agents. As you mentioned, the debt gets rolled to the upline who normally pays it.

You are correct, sometimes it never gets reported. Also, just for clarification, once the debt is rolled to the upline, the company should be taking them off of Vector as the debt is no longer with the agent. That's why the IMO should have a Vector account.

 

[jmoney_comparion]

You are correct, sometimes it never gets reported. Also, just for clarification, once the debt is rolled to the upline, the company should be taking them off of Vector as the debt is no longer with the agent. That's why the IMO should have a Vector account.

You'd think so, but I have a vector like that and the debt was rolled to the upline, but they still vectored me. I'll get it paid after AEP.

 

[Newby]

You are correct, sometimes it never gets reported. Also, just for clarification, once the debt is rolled to the upline, the company should be taking them off of Vector as the debt is no longer with the agent. That's why the IMO should have a Vector account.

That changed a couple of years back. The Upline can pay the debt but still have the company leave the agent on Vector. Not all companies are aware of that though. Oxford is and it has helped collect debts from agents years later when they are trying to get new contracts. One of the guys at Oxford was involved in getting Vector to change that rule.

 

[WinoBlues]

That changed a couple of years back. The Upline can pay the debt but still have the company leave the agent on Vector. Not all companies are aware of that though. Oxford is and it has helped collect debts from agents years later when they are trying to get new contracts. One of the guys at Oxford was involved in getting Vector to change that rule.

So, That chargeback email I received from Oxford for $.26 was not to be ignored.

 

[walthamny]

Interesting. Oxford would not take me because of background check couple years ago. I did not pursue the reason as I am contracted with over 20 companies and if they switched me to advance, it would not be the end of the world for me. I will pull up a vector on me and see.

 

[nickin910]

You are correct, sometimes it never gets reported. Also, just for clarification, once the debt is rolled to the upline, the company should be taking them off of Vector as the debt is no longer with the agent. That's why the IMO should have a Vector account.

Hey Todd, after a vector hit is disputed or the debt has been cleared - will the agent still have issues trying to get appointed with carriers?

I believe one of the questions asked when getting appointed is if we've ever had a debt of any sort owed to another carrier.