paying charge back debt

[PhxSunsFan]

I got an emal from am am.... debt owed $720.00 If I dont respond by 12/02..etc etc.. I called to make a payment.. I wanted to pay $50 a month till paid off.. A,m Am said they can only go back 6 months so I had to pay 120 per month.. I agreed.. Could I have done better?? ( not using AM AM for any business)

 

[jdeasy]

I got an emal from am am.... debt owed $720.00 If I dont respond by 12/02..etc etc.. I called to make a payment.. I wanted to pay $50 a month till paid off.. A,m Am said they can only go back 6 months so I had to pay 120 per month.. I agreed.. Could I have done better?? ( not using AM AM for any business)

Could you have done better? Yes, not used AmAm.

Or pay them the $720 if you don't dispute you owe them that much.

 

[fed up]

Asked for an accounting of each and every policy that you wrote and then contacted the insured to find out why they left. Was it an accounting error, change in bank account info, etc.

 

[Todd King]

I got an emal from am am.... debt owed $720.00 If I dont respond by 12/02..etc etc.. I called to make a payment.. I wanted to pay $50 a month till paid off.. A,m Am said they can only go back 6 months so I had to pay 120 per month.. I agreed.. Could I have done better?? ( not using AM AM for any business)

As far as the payments go, no you couldn't have done better. Most companies only go out 6 months unless there is some sort of extenuating circumstance...such as you owing a huge amount that can't be paid back in that amount of time.

 

[titeye]

As far as the payments go, no you couldn't have done better. Most companies only go out 6 months unless there is some sort of extenuating circumstance...such as you owing a huge amount that can't be paid back in that amount of time.

I'm curious, what would be the consequence of him sending them $50, until his debt was paid? Interest applied to the remaining debt, vector, and/or worse?

 

[scagnt83]

I'm curious, what would be the consequence of him sending them $50, until his debt was paid?

Being listed on Vector One. Which prohibits you from contracting with new carriers. And can get your contract dropped from existing carriers if they run a subsequent check after the initial one.

If it was large enough (his debt is not) they could pursue the debt through legal measures and take him to court.

 

[titeye]

Being listed on Vector One. Which prohibits you from contracting with new carriers. And can get your contract dropped from existing carriers if they run a subsequent check after the initial one.

If it was large enough (his debt is not) they could pursue the debt through legal measures and take him to court.

Yes, I considered that. However, I think that guy, the OP, is already appointed with all the carriers he wants, at this time. As a result, Vector would be insignificant, considering the debt would be paid in 14 months. I was not aware that existing carriers could drop, or would even run a vector on an agent in good standing with them.
Thanks!

 

[titeye]

I got an emal from am am.... debt owed $720.00 If I dont respond by 12/02..etc etc.. I called to make a payment.. I wanted to pay $50 a month till paid off.. A,m Am said they can only go back 6 months so I had to pay 120 per month.. I agreed.. Could I have done better?? ( not using AM AM for any business)

Why not, simply, submit another app to them? One app should cover a $720 debt. I seem to recall you boasting previously that you write more business than the average agent. Unless your cash flow is tight, what's one app to the company to whom you are indebted in order to satisfy it?

 

[Allen Trent]

Why not, simply, submit another app to them? One app should cover a $720 debt. I seem to recall you boasting previously that you write more business than the average agent. Unless your cash flow is tight, what's one app to the company to whom you are indebted in order to satisfy it?

Why not just write a case with whoever he wants & pay them back instead of getting re-appointed with someone he doesn't want to write with. Is $720 different if AM AM commissions or XYZ commissions or cash?

 

[titeye]

Why not just write a case with whoever he wants & pay them back instead of getting re-appointed with someone he doesn't want to write with. Is $720 different if AM AM commissions or XYZ commissions or cash?

I agree that it doesn't matter where the $720 comes from, but how did you arrive at the conclusion that he lost his appointment or did not want to write with them anymore?