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Can Farmers get the DOI to revoke my license?

Posted by Rick 
Hi all,

I'll try and keep my Farmers story short and get to the point. I started as a reserve agent in Jan 2005 and was career until October. Basically I became very disheartened with the company and quit selling life insurance. They threatened to terminate my contract after 3 months of no new life apps and I said go ahead. I'm now independent and extremely happy with leaving Farmers.

Since then, they have sent me letters saying I owe $10,600 in subsidy and its all due right now. I dumped about $30-40k of my own money running an office, paying for staff and equipment so my accounts are cleaned out.

The collection agency that Farmers sent this to says that Farmers often gets the Dept of Insurance to revoke former agent licenses for not paying the subsidy back.

Is this possible? I life in Arizona if this makes any difference.

Any help is appreciated!



PS: I converted my former Farmers site into another Farmers Hate site. I'm going to have to put a little more content to get another site out there like this one.

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Hi Rick,

My story sounds just like yours to the T. I just resigned as of Jan. 31st and my DM left me a message that I could pay the subsidy back in monthly payments and that he could arrange it. I left him a message that I would like to do it that way, but I haven't heard anything, and since i've been lied to so much by this company your story concerns me. They even stopped my subsidy check I was supposed to get in February. Also I got my 1099 having to claim this money on my tax return so if we have to pay 1/2 of this back do we have to claim these earnings on our tax returrn?
Another agent mentioned that Farmers has a class action lawsuit against them for tricking people into this profession with false promises and ruining good people's lives and I am looking for this info and still have not found anything. I swear if I was painted the whole picture from the get go and not after I went career I would have turned away, not quit my job, and spent my life savings on this program.

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I don't see how they can terminate your licenses. They were not the once to have acquired them for you to begin with. As for the subsidy, it’s a loan!! DON"T claims it as income!!!!!!!!!!!

If you’re not afraid of the collection agency I would spit at paying that off!

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