I had to file bankruptcy in the last 6 months? I already have my appointment with NGL which I had before I filed. I have a long 25 years of perfect credit, husband had to transfer job in a new state, had to try to sell a house we lived in for just one year right when the market tanked. Our house went from $455,00 to $375,000 in less than a year...couln't get anyone to even look at it so our attorney and accountant said to file and be done with it. Will other FE insurance companies consider appointing my license or am I dead in the water?
Can I still be appointed ?
- Thread starter Leogirl
- Start date
- 969
Re: Can I still be appointed if...
I would think you would be alright... You will probably have to write a letter of explanation... Worse case you may have to go "As Earned" on your commission
I would think you would be alright... You will probably have to write a letter of explanation... Worse case you may have to go "As Earned" on your commission
- Thread starter
- #3
- 969
Re: Can I still be appointed if...
Most contracting paper work will ask if you have ever filed "BK" if the answer is "Yes" then they ask you to write an explanation to all yes answers. Some companies ask some don't.
Like I said, usually if you have a plausible reason it is not a problem...
You made a good trade from South Bend to Fla... That town has changed for the worst in the last few years. I used to work there some but not much anymore. I have friends in Granger...
Most contracting paper work will ask if you have ever filed "BK" if the answer is "Yes" then they ask you to write an explanation to all yes answers. Some companies ask some don't.
Like I said, usually if you have a plausible reason it is not a problem...
You made a good trade from South Bend to Fla... That town has changed for the worst in the last few years. I used to work there some but not much anymore. I have friends in Granger...
deerheart7
New Member
Re: Can I still be appointed if...
I am thinking of filing for bankruptcy as well. Have only been in the business for 3 years and I have used ever ounce of credit to stay alive. Now I think my only out will be bankruptcy but I am also worried about the licensing question. I am licensed with over a dozen different companies but I am nervous that one time I will need to sign up with another company right after I file bankruptcy and I will be told I can't get licensed. This is a hard career to get up and running with no money to fall back on. Now I don't even have money to buy any leads as they want you to buy a quantity of $800 +. I am trying to get my own leads with direct mail, cold calling and getting some leads through my website.... it costs money to make it work I am seeing. It's a real challenge. More money goes out then comes in.
I am thinking of filing for bankruptcy as well. Have only been in the business for 3 years and I have used ever ounce of credit to stay alive. Now I think my only out will be bankruptcy but I am also worried about the licensing question. I am licensed with over a dozen different companies but I am nervous that one time I will need to sign up with another company right after I file bankruptcy and I will be told I can't get licensed. This is a hard career to get up and running with no money to fall back on. Now I don't even have money to buy any leads as they want you to buy a quantity of $800 +. I am trying to get my own leads with direct mail, cold calling and getting some leads through my website.... it costs money to make it work I am seeing. It's a real challenge. More money goes out then comes in.
A
allhealthandlife
Guest
Re: Can I still be appointed if...
Another thing to consider before filing bankruptcy in Florida is your renewals will have to be assigned to BK trustee or you could try to sell your book of business long before you file.
I am thinking of filing for bankruptcy as well. Have only been in the business for 3 years and I have used ever ounce of credit to stay alive. Now I think my only out will be bankruptcy but I am also worried about the licensing question. I am licensed with over a dozen different companies but I am nervous that one time I will need to sign up with another company right after I file bankruptcy and I will be told I can't get licensed. This is a hard career to get up and running with no money to fall back on. Now I don't even have money to buy any leads as they want you to buy a quantity of $800 +. I am trying to get my own leads with direct mail, cold calling and getting some leads through my website.... it costs money to make it work I am seeing. It's a real challenge. More money goes out then comes in.
Another thing to consider before filing bankruptcy in Florida is your renewals will have to be assigned to BK trustee or you could try to sell your book of business long before you file.
- 14,808
Re: Can I still be appointed if...
what products are you selling?
I am thinking of filing for bankruptcy as well. Have only been in the business for 3 years and I have used ever ounce of credit to stay alive. Now I think my only out will be bankruptcy but I am also worried about the licensing question. I am licensed with over a dozen different companies but I am nervous that one time I will need to sign up with another company right after I file bankruptcy and I will be told I can't get licensed. This is a hard career to get up and running with no money to fall back on. Now I don't even have money to buy any leads as they want you to buy a quantity of $800 +. I am trying to get my own leads with direct mail, cold calling and getting some leads through my website.... it costs money to make it work I am seeing. It's a real challenge. More money goes out then comes in.
what products are you selling?
- 1,328
Re: Can I still be appointed if...
Here's what you do... Max out all your credit cards with things such as:
1. PJ Man
2. A cruise
3. All the leads you can buy
File Chapter 7... they can't repo PJ Man, a cruise, or old leads... actually.. give them back the leads after you work them...
I am thinking of filing for bankruptcy as well. Have only been in the business for 3 years and I have used ever ounce of credit to stay alive. Now I think my only out will be bankruptcy but I am also worried about the licensing question. I am licensed with over a dozen different companies but I am nervous that one time I will need to sign up with another company right after I file bankruptcy and I will be told I can't get licensed. This is a hard career to get up and running with no money to fall back on. Now I don't even have money to buy any leads as they want you to buy a quantity of $800 +. I am trying to get my own leads with direct mail, cold calling and getting some leads through my website.... it costs money to make it work I am seeing. It's a real challenge. More money goes out then comes in.
Here's what you do... Max out all your credit cards with things such as:
1. PJ Man
2. A cruise
3. All the leads you can buy
File Chapter 7... they can't repo PJ Man, a cruise, or old leads... actually.. give them back the leads after you work them...
- Staff
- #9
- Thread starter
- #10
Re: Can I still be appointed if...
In all honesty, I am particularly interested in Forethought and Oxford's policy on appointing licenses with a BK. If anyone knows the specifics on these two companies and there standard buisness practices, I would greatly appreciate it! hoosierdaddy...you are right FL is amazing compared to horrible weather in Northern IN, you feel like you are on vacation everyday! I highly recommend it!
In all honesty, I am particularly interested in Forethought and Oxford's policy on appointing licenses with a BK. If anyone knows the specifics on these two companies and there standard buisness practices, I would greatly appreciate it! hoosierdaddy...you are right FL is amazing compared to horrible weather in Northern IN, you feel like you are on vacation everyday! I highly recommend it!
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