Appointments and Bad Credit

Bandrade093

New Member
1
I'm in Alabama and just got my L&H license. The broker I work for wants me to be appointed by Allstate first. My credit score is a 577. Will Allstate still appointment me? Do they credit check? I don't mind being paid as earned. That's what I wanted anyway. Thanks so much for any response.
 
There's no question that 577 is a very poor credit score. Statistically, people who have bad money trouble are a greater risk for committing insurance fraud which is why insurance companies use credit scores as one of the elements for underwriting prospective customers.

Since there is a potential for fraud in selling insurance it wouldn't surprise me if an insurance company used credit scores as an element in qualifying agents.

One way to find out is tell your broker about your score and have him call Allstate and see if he has the clout to overcome it.
 
It is not always the score itself but what makes up the score even though they are related. Write a good letter stating what you did in the past, own up to it and be accountable for it, and let them know what you are doing to correct it and learned to do in the future. Not a sure fire win but gives them something to think about. Some carriers are easier than others, and as stated before, sometimes the upline can pull some strings.
 
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