Chargeback with Dirty IMO...

[dallas1]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

 

[jdeasy]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

As for Vector, no, it has to be $600. And you may not lose your appointment with that carrier either.

But bottom line it does seem to be a debt you owe. So you should pay that debt. Either by writing business with company to cover it or by just paying them.

It may be shady how you came to owe it but it's still your debt.

 

[goillini52]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

And are you still doing business through this IMO?

 

[WinoBlues]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

I would pay the $500. But so would the IMO in multiples.

Do unto others...........

 

[Newby]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

Hmmmm. So you have an IMO that is just using you for inventory?

How did you choose them?

Did you make sure they grant releases when you signed up?

Is there anyway that other new agents reading this post would know who they are to stay away from them or does it need to be a secret?

The best form of revenge is success. Pay the money so you don't screw yourself up and then go out and wright tons of business that that IMO never gets any portion of.

 

[GoPokes]

If it's easier for you, the IMO may take the payment in monthly installments, or negotiate a lower lump sum settlement. Sounds like you might be in a tough financial situation. Best wishes.

 

[The Gimp]

I agree with what others have said. Pay them and find another group to work with. Be glad it was only $500. I've seen a lot worse.

 

[dallas1]

No I am not. I can't trust them enough to write anymore business.

 

[Ksutton]

I was working with an IMO that screwed me over royally. To make a long story short they sent another agent out to one of my final expense customers and re-wrote them with another final expense company. Because of this action, I have a debt balance of around $500. My question is that if I don't pay this balance and it rolls up to my IMO to pay how will this effect me? I realize I will lose my appointment with this FE company, but if I don't pay this debt and my IMO does will I still be listed on "vector"??? Even if this debt is paid by my IMO will the fact that I owe my upline IMO money be enough to still list me as having a debt on vector???

Out write it and find a new IMO - I can help point you in the right direction if need be.

 

[dallas1]

I'm saving my final critique of this IMO until I am completely out from under it's wings. There are some other areas too that I would like to elaborate on, such as starting commission percentage, leads, lead cost, etc., but I am saving it until later. Sorry...