Does anyone know of any half way decent carriers or IMOs that will help me get contracted with some pretty hefty debit balances and bad credit. I really made a mess of my life a year ago and am back on my feet and ready to start writing. Problem is I have no contracts and everybody I talk to declines me because of the debit balances and credit. I can produce though and would be an asset to anyone who gives me another chance, now that my head is back screwed on straight. Any ideas?
Contracting with Debit Balances
- Thread starter scottrahn
- Start date
Most appointment applications ask about debit balances whether or not the company subscribes to Vector. I believe your best bet is to be honest and proactive concerning the credit and debit balances.
Every company has guidelines, and there's probably a company or manager out there who's willing to help. But to repeat, you'll be better served to be the one to bring up the financial issues rather than them finding it on a background check.
Every company has guidelines, and there's probably a company or manager out there who's willing to help. But to repeat, you'll be better served to be the one to bring up the financial issues rather than them finding it on a background check.
- 14,808
Solid advice. Be honest. You might be willing to find an agency where instead of giving you a 6 months advance, they give you a 3 month advance and hold 3 to they're protected.
If you're looking for carriers or agencies to give you street level commissions and full advances I feel it's gonna be a rough road.
If you're looking for carriers or agencies to give you street level commissions and full advances I feel it's gonna be a rough road.
Some IMOs and companies may take you as earn.
How much is your debit or how many do you have?
- Thread starter
- #6
I owe quite a bit, over $50k, from some big annuities that went south. They are on Vector. And I need Advanced Commissions on life and annuity cases. If any of you have any Carrier names that you know are more liberable, would be greatly appreciated. Thanks for the feedback.
- 14,808
I just want to make sure you understand that they you put that "k" on the end of it, it turns $50 into $50,000. Are you serious?
- 415
Your best bet is to go back to the IMO/Agency that you incurred that debt with and see if they will let you "sell your way" out of that debt.
Thats a huge debit balance to have racked up...........be proactive.
No IMO in the right mind would touch you with that sort of debit balances......but at least your former IMO knows your track record......
Go back to them and ask to sell your way out of it.
Its probably the best option......provided they agree of course.
Thats a huge debit balance to have racked up...........be proactive.
No IMO in the right mind would touch you with that sort of debit balances......but at least your former IMO knows your track record......
Go back to them and ask to sell your way out of it.
Its probably the best option......provided they agree of course.
Wow.. This is weird I got a call from a former mega and naa agent that basically had the same situation.
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