Agent Ignorance About Being Put on the "Vector" list

I really wouldn't compare them to credit reporting agencies because those companies have federal guidelines that they are supposed to work under. Vector is not regulated by anyone and there is no recourse if they have bad info on you, other than to sue.

sounds to me like they're exactly like credit reporting agencies. there was a recent story on 60 minutes sharing horror stories of people unable to get bad info off of their credit report.:no:
 
sounds to me like they're exactly like credit reporting agencies. there was a recent story on 60 minutes sharing horror stories of people unable to get bad info off of their credit report.:no:

That's why I emphasized supposed. At least with credit reporting agencies you have some level of federal regulation and if they break the law there is recourse by suing the company for breaking the law.

Vector has no checks, no balances, no regulation.

Fun fact: The company that reported me was Universal American. I worked at their office as a career agent (this was my first foray into the insurance world). In 2010 they got their contract pulled by CMS for breaking Medicare Advantage rules and they were not allowed to sell Medicare Advantage plans that year. UA came in and closed our office down (along with several dozen others throughout the United States) and fired every employee.

They reported every single person that worked there to Vector, regardless of whether or not they had any bad debts. They considered any commission advance to an agent to be a bad debt at the time of termination, even if the policy was still in force.

So I, along with a few hundred others, had been reported to Vector for business that was still on the books! :mad:
 
didn't notice the italics until you pointed it out.

So, is there a way for an agent to check their own Vulture status? :D
btw, here's the 60 mins clip I was referring to:

 
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didn't notice the italics until you pointed it out.

So, is there a way for an agent to check their own Vulture status? :D
btw, here's the 60 mins clip I was referring to:

40 Million Mistakes Is your credit report accurate 60 Minutes CBS News - YouTube

I remember the report on 60 Mins, I watched it when it came on. It was pretty eye opening.

I think you can check it, you just have to fax them a request and they'll fax one back with your file if you have one. VolAgent made mention of an 800# for agents to call a few posts ago, but unless something has changed in the last few years, that 800# is only a recording. When I dealt with them they will not call and speak with you or give you a number to call them at all. Everything is via fax/email.
 
That's why I emphasized supposed. At least with credit reporting agencies you have some level of federal regulation and if they break the law there is recourse by suing the company for breaking the law.

Vector has no checks, no balances, no regulation.

Fun fact: The company that reported me was Universal American. I worked at their office as a career agent (this was my first foray into the insurance world). In 2010 they got their contract pulled by CMS for breaking Medicare Advantage rules and they were not allowed to sell Medicare Advantage plans that year. UA came in and closed our office down (along with several dozen others throughout the United States) and fired every employee.

They reported every single person that worked there to Vector, regardless of whether or not they had any bad debts. They considered any commission advance to an agent to be a bad debt at the time of termination, even if the policy was still in force.

So I, along with a few hundred others, had been reported to Vector for business that was still on the books! :mad:

That was pretty low down and a way to not pay commissions. Legal but not very fair.
 
Is there a time period, after which, a Vector report for a debit balance rolls off, and can no longer show up on your vector report?
 

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