Chargeback Debt Continues to Increase - What are the Repercussions of not Paying?

[WinoBlues]

The funny thing is I have not had Oxford for over 10 years I'm pretty sure. I don't think I have gotten a comp statement from them in years.

I should call them. I may have like $2.97 sitting there earning interest.

 

[DonP]

Not necessarily. I've seen agents negotiate and never got hit with their balance. Of course, the upline has to pay back their part of the initial override.

I myself negotiated a big chargeback when 5 Star decided they really didn't know what they were doing and decided to shut down. The remaining (a few thousand $$) didn't roll to my upline.

Funny you mention 5 star . I had a $1300 rescinded death claim chargeback hit the time they shut down in 2016 I believe . Never heard another word . I didn’t write many but I got renewals a while . Anyone still getting renewals from 5 star ?

 

[goillini52]

The funny thing is I have not had Oxford for over 10 years I'm pretty sure. I don't think I have gotten a comp statement from them in years.

I should call them. I may have like $2.97 sitting there earning interest.

I just picked them back up for annuities and sold a Med Supp. They added $39.35 to my check that was sitting there. Those old policies take a long time to accumulate $50.

 

[WinoBlues]

Funny you mention 5 star . I had a $1300 rescinded death claim chargeback hit the time they shut down in 2016 I believe . Never heard another word . I didn’t write many but I got renewals a while . Anyone still getting renewals from 5 star ?

i want to say i may have at the end of the year when these companies clear the books.

i did get a letter from Sentinal that they had money they were going to send to the state from an old number. i called them and got a check for something like $350.

 

[Newby]

Funny you mention 5 star . I had a $1300 rescinded death claim chargeback hit the time they shut down in 2016 I believe . Never heard another word . I didn’t write many but I got renewals a while . Anyone still getting renewals from 5 star ?

I still get renewals from 5-Star.

 

[Todd King]

Funny you mention 5 star . I had a $1300 rescinded death claim chargeback hit the time they shut down in 2016 I believe . Never heard another word . I didn’t write many but I got renewals a while . Anyone still getting renewals from 5 star ?

Still get them like clockwork.

 

[capnjim01]

and had Foresters terminate him. Guys has ghosted me and even called his parents, he wrote a policy on is mother. So if all ever have to deal with is losing $750 it's a cheap lesson.

never hire needy people,

 

[capnjim01]

and had Foresters terminate him. Guys has ghosted me and I even called his parents, he wrote a policy on is mother. So if all ever have to deal with is losing $750 it's a cheap lesson.

never hire needy people,

All this didn't get sent. Hired a guy who wrote 4 policies on himself and family and checks were NSF. Don't have to worry about his credit probably doesn't have any.

 

[goillini52]

All this didn't get sent. Hired a guy who wrote 4 policies on himself and family and checks were NSF. Don't have to worry about his credit probably doesn't have any.

They wouldn't have paid commissions until the check cleared.

 

[Newby]

They wouldn't have paid commissions until the check cleared.

What companies wait for the check to clear? Most just wait for the draft date and then pay whether it cleared or not don’t they?