I wont' call out names but someone sent me a message asking can you get appointed to sell annuities with an open Chapter 13 bankruptcy??? What? I would imagine not a chance....
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I'm not sure if it's changed, but Presidential used to be fairly open-minded about such things.
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As a rule of thumb, I would say that you are probably right. However, it really depends on the carrier and whether or not there is anything else in the advisor's background.
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I would agree with Nate. The carriers have really tighten down on contracting. There are some that will allow the fmo to take financial responsibility, but then most fmo's are not to do that. But like Nate said you are going to have to check with carrier and fmo.
What are considering an "open" Chapter 13? The Charter 13 is the restructure with the payment plan. If you are actively on your payment plan and have not missed any payments, have a hell of a letter of explanation showing that you lost everything in 2008-2009 and didn't have any bad debts toward insurance companies regarding commission chargebacks and vectors, then you still have a chance.
The carriers like your BK to be at least 1-2yrs behind you (even if you're still on the payment plan). Most Agents I've had to deal with this on seem oblivious to the background and just write an application. Then they are confused as to why the carrier is asking questions on their background.
Good Luck,
Scott
The carriers like your BK to be at least 1-2yrs behind you (even if you're still on the payment plan). Most Agents I've had to deal with this on seem oblivious to the background and just write an application. Then they are confused as to why the carrier is asking questions on their background.
Good Luck,
Scott
- Thread starter
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Agents exact words "Chapter 13 BK filed on 12/2011 make a payment of 2100.00 every month, never missed a payment"
Well.. what is the question here? Whether he get contracted or not?? Submit contracting and find out. Are you an IMO or an Agency Office? If you're an Agency, let's do some business.. If you're another IMO than my advice stops here 
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- #8
Im not an Agency or an IMO, I don't play well with others. 
Well.. what is the question here? Whether he get contracted or not?? Submit contracting and find out. Are you an IMO or an Agency Office? If you're an Agency, let's do some business.. If you're another IMO than my advice stops here
