Credit issues as an agent

[nate124]

First off, this forum is awesome!! I am learning so much just by reading. My question is this....

I recently got hired by an agency who represents multiple carriers. I went through the interview process and got the job, just finished my pre-licensing, and will be taking my state exam this Friday. When I interviewed with the company, once they hired me they asked if I had any bankruptcies , or past criminal history, which I said no to. They said great, and I started filling out all the forms for each carrier requesting appointment to sell their products.

Growing up.. to put it quite simply, I was an *** with my credit. Although I'm on my feet now financially (and married), my credit has still not recovered. I have 1 judgement for a credit card from 2000 that will drop off in a month... (actually it's only still left on Experian... not Transunion or Equifax).

I have some chargoffs and what not..... but no major debts. I think everything totals less than $1500.00.

My main question is... am I going to run into trouble here? Am I going to go through the testing phase and everything, and then not be able to do this job?

Will an insurance company still let me sell their products even though I have bad credit?

I really want to do this, and I've been in sales for years. I'm hoping that my past credit history doesn't prevent me from doing this! Any help or tips, opinions, past experiences, etc would be greatly appreciated! Below is a list of some of the companies that I applied with through this other company. (I'm assuming already that not being captive will help me with getting approved??)

World Insurance
Golden Rule
Assurant Health
AIG - American General
Mutual of Omaha
Illinois Mutual
Peoples Benefit Life Insurance Company
Standard Life
Colorado Bankers Life

If anyone has any suggestions they are greatly appreciated! Thanks so much!!!

 

[Crabcake Johnny]

Judging from your post, you'll be just fine.

 

[nate124]

great!

Thank you so much. Just that simple reply from someone in the business really put me at ease. haha.

Now it's back to reading this forum! Time to continue to learn how to become successful in this business!

Thanks again!

 

[Crabcake Johnny]

I got licensed in '03 and my credit was trashed. No BK's but I think my score was in the low 500's - which is trashed. I had no problems at all except for cranking out a letter to Golden Rule. Not a problem.

 

[nate124]

Hi John,

Thanks so much!! My credit is similar. No Bk's but also in the 500's. What kind of a letter did you have to write to Golden Rule? I'm assuming I will have to do the same.

Thanks again for the help!

 

[Bob_The_Insurance_Guy]

Don't waste your time writing a letter to GR. Go with the companies that will take you, and get your business up and going. GR will come to you in time.

 

[Crabcake Johnny]

That's back when I thought I had to be with GR because they had the cheapest rates. Now I know better.

 

[Wprice]

I have trashed credit too... Mines in the high 400's medical bills and being a dumb ass kid with credit cards. I've never had much issue with credit concerning getting appointed... Except with State Farm, but I don't have the greatest driving record either, but that changes next year

 

[nate124]

You guys are the absolute best! Thanks for lifting my spirits after I thought I was not going to be able to work in this business!!! And thanks to anyone who has posted any helpful hints or tips on how to be successful in this business as well! They are all very well written and I know are going to help me a ton from the start

I love this forum!!!!

-Nate

 

[Insuranceman]

I had trashed credit and filed bankruptsy. The majority of the companies I contracted with are paying me advanced commisions.