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Let's set the record straight. Foresters will allow unsecured debt of $100+ to exist for about 11 weeks before terminating the agent and rolling the debt to an upline. An agent must be terminated before Vector One will allow the agent to be reported. The agent receives 3 notices before any of these actions are taken.
Notice Triggers Action
First Debt Notice "• Debit Balance greater than
$100 for 4 consecutive weeks" • Debt repayment within 30 days from date of First Debt Notice
"Second Debt
Notice" "• Debit Balance greater than
$100 for 7 consecutive weeks" • Debt repayment within 15 days from date of Upline Debt Second Notice
Third Debt Notice "• Debit Balance greater than
$100 for 10 consecutive weeks" "• Debt repayment within 7 days from date of Upline Debt Third Notice"
"Producer Termination" "• Debit Balance (current balance, side account, & producer rolled up debt) greater than $100 2 weeks after Third Debt Notice"
• Begin Termination process
• Rollup of total debt to the next active upline manager
• Debt remains the responsibility of both the producer and next upline manager
• Any future debt will continue to roll up on a weekly basis"
Notice Triggers Action
First Debt Notice "• Debit Balance greater than
$100 for 4 consecutive weeks" • Debt repayment within 30 days from date of First Debt Notice
"Second Debt
Notice" "• Debit Balance greater than
$100 for 7 consecutive weeks" • Debt repayment within 15 days from date of Upline Debt Second Notice
Third Debt Notice "• Debit Balance greater than
$100 for 10 consecutive weeks" "• Debt repayment within 7 days from date of Upline Debt Third Notice"
"Producer Termination" "• Debit Balance (current balance, side account, & producer rolled up debt) greater than $100 2 weeks after Third Debt Notice"
• Begin Termination process
• Rollup of total debt to the next active upline manager
• Debt remains the responsibility of both the producer and next upline manager
• Any future debt will continue to roll up on a weekly basis"