Credit issues as an agent

Suggestion: Keep working on cleaning up the credit. If you decide you want to get your 6 & 63 and sell variable products, those skeletons in the closet could cause some problems.
 
The only problem I see agents running in to is past medical bills or outstanding debt owed to insurance companies.

I've had agents in the past who had terrible credit and none of the above, then I've had agents who owe a bunch in medical bills...no go!

Based on your original post I think you will be fine!
 
Here's a question I just thought of for the new agents coming into the field.

Does your past credit history affect the amount of money a new agent can be advanced? If so, in what ways?

I know that Assurant advances and are familiar with their structure, but not about World or any others. ....
 
The only problem I see agents running in to is past medical bills or outstanding debt owed to insurance companies.

I've had agents in the past who had terrible credit and none of the above, then I've had agents who owe a bunch in medical bills...no go!

Based on your original post I think you will be fine!

I guess this shows that some companies have different criteria. I was told by a company last year (one that required a Series 7) that medical bills generally aren't a big problem, but that BK and other bad debt is scrutinized more closely. Of course owing another insurance company is a big issue. My thinking is that the possibility of becoming indebted to them in some way is one main reason why they check your credit in the first place, with the thought being that if you have have a track record of not paying your bills, you might not pay the insurance company either if something happens and you become indebted to them.

My FMO for an MA company told me they have dozens of agents from 2006 that wrote for them for a while and then just stopped writing business and basically disappeared. When the chargebacks started rolling in, the FMO had to repay the MA company and was left holding the bag in many cases.
 
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