AHCP Vector One Help

[jmarkk1]

Did you ever see a statement from the companies you were licensed with? My contracts through AHCP were direct and the com. were from the companies, not AHCP. I never could make sense of where my renewals ended up, but they were not enough to go to war over.

Yes I did see statements. What's strange is that Ahcp didn't apply my YTD totals to next years earnings. They told me to figure out things I needed to look at totals and apply years end earnings to the next years. When I do this it appears they owe me. Keep in mind I had 3 chargebacks whole time I was there and these were paid back with additional biz written. These totals were less than $600 and they are saying I owe $1700.
Most of my biz was on books for 2 years or more.

 

[jmarkk1]

1st Dispute it with Vector One. You can call them at 888-607-0555. Their fax number is 480-922-7720.

In order to dispute what information do I need to give them?

This seems a little shady because the information I have doesn't match up with the IMO. If I give Vector my information and issue a dispute, the IMO is going to give Vector "proof" that they are right.

Is Vector truly a 3rd party to this whole thing or are they connected with the IMO?

 

[Mark]

In order to dispute what information do I need to give them?

This seems a little shady because the information I have doesn't match up with the IMO. If I give Vector my information and issue a dispute, the IMO is going to give Vector "proof" that they are right.

Is Vector truly a 3rd party to this whole thing or are they connected with the IMO?

When you call them, you will hear the rules on how to dispute it.

I believe it is like 100 words or less. Something like that.

IF the IMO shows proof that you owe the money, then you should do the right thing and pay it.

If you can show where you dont owe the money, then they will remove it from vector.

Both parties can show their proof. The ball is in your court. Unless you prove that you dont owe it, it will remain there.

Vector is used by some Insurance Companies and IMOS or it's members to both report and look up agents with debit balances.


Vector and many other companies are getting better and better tracking agents that have debit balances. Chargebacks cost both insurance companies and IMOS a lot of money.

Most agents think that their earnings will pay off their debits. Most of the time, it won't.

 

[jmarkk1]

When you call them, you will hear the rules on how to dispute it.

I believe it is like 100 words or less. Something like that.

IF the IMO shows proof that you owe the money, then you should do the right thing and pay it.

If you can show where you dont owe the money, then they will remove it from vector.

Both parties can show their proof. The ball is in your court. Unless you prove that you dont owe it, it will remain there.

Vector is used by some Insurance Companies and IMOS or it's members to both report and look up agents with debit balances.


Vector and many other companies are getting better and better tracking agents that have debit balances. Chargebacks cost both insurance companies and IMOS a lot of money.

Most agents think that their earnings will pay off their debits. Most of the time, it won't.

Problem is that my "proof" shows that they owe me money based on the earned credit amounts given to me based on their monthly commission reports given to me.

Their proof, given in excel spreadsheet format, shows that I owe them money. Their numbers don't match the numbers of their own monthly reports....I'm guessing that they have the ability to change the numbers if needed.

Although, I don't understand how. When I was with them, I was advanced $4500 and had only $795 in chargebacks and they charged me $630 in administration fees. The chargebacks should have been earned or paid back with new business. (they took the advances from new business to pay back the chargebacks)

If I owe them, I'll pay, but I can't seem to figure out how they are coming to such a large balance of $1700.
- - - - - - - - - - - - - - - - - -

Problem is that my "proof" shows that they owe me money based on the earned credit amounts given to me based on their monthly commission reports given to me.

Their proof, given in excel spreadsheet format, shows that I owe them money. Their numbers don't match the numbers of their own monthly reports....I'm guessing that they have the ability to change the numbers if needed.

Although, I don't understand how. When I was with them, I was advanced $4500 and had only $795 in chargebacks and they charged me $630 in administration fees. The chargebacks should have been earned or paid back with new business. (they took the advances from new business to pay back the chargebacks)

If I owe them, I'll pay, but I can't seem to figure out how they are coming to such a large balance of $1700.

Also, proving that I don't owe seems to kind of hard to do when I don't understand how their commissions are even figured out. Also, do you know what is meant by the term "debit balance rolled up?"

I received email from their commissions dept. and one of the ladies actually shows a difference of $795 based on her own math. She can't figure it out either.