GEORGIA License - Bad Credit?

Jul 21, 2015

  1. ganewbie
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    ganewbie Expert

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    Hi everyone,

    I just passed the Georgia Life, Health and Accident exam and my license application has been submitted.

    I've seen and heard things about credit affecting ability to be approved by companies....

    Unfortunately my credit is bad due to some stuff...we're talking in the 550 range :embarrassed:

    Will this affect my ability first of all to be approved for my license, and secondly, when I apply for the ability to sell through companies, will I be turned down?

    I'm really concerned about this...as I am making a career change to pursue insurance as a career....

    Thanks for all replies in advance!
     
    ganewbie, Jul 21, 2015
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  2. Heather
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    Heather Guru

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    I am in NY but there are companies that will deny appointments if your credit is to bad, I had this problem with an employee before. Some companies made her write a letter of explanation and that was okay. UHC will not contract her even with the letter. We just worked around it and had her contract with other companies.
     
    Heather, Jul 21, 2015
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  3. somarco
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    somarco GA Medicare Expert

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    Getting appointed by a carrier shouldn't be a problem. Advances will be a challenge.
     
    somarco, Jul 21, 2015
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  4. WinoBlues
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    WinoBlues Guru

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    Fire Aim

    Shouldn't this have been asked before you decided to get licensed?
     
  5. ganewbie
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    ganewbie Expert

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    Yep, but it wasn't. So here I am...

    I really hope this isn't going to screw things up for me....
     
    Last edited: Jul 21, 2015
    ganewbie, Jul 21, 2015
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  6. DHK
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    DHK Guru

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    Some companies are more stringent than others.

    As Somarco said - you may not get approved for advances. Here's what you do: Always present annual payment plans... or they can "finance" the annual payment into 12 payments with a small monthly charge. Not everyone can do an annual payment, but if you never present it, you'll never get those annual commissions up front.
     
    DHK, Jul 21, 2015
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  7. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    Or...you could go "as earned". I know, it's crazy! But just an option.
     
  8. ganewbie
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    ganewbie Expert

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    Well, it looks like I may end up at a brokerage that does life/health/accident, medicare supplements, dental, vision....not sure yet.

    I would work from in house mailed in leads, as well as be able to build locally person to person, so it may be a good balance. I know I'm going to be putting my nose to the grindstone for the first few years and busting my butt to make sure I'm successful.
     
    ganewbie, Jul 22, 2015
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  9. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    Sounds like a plan.

    Good luck to you. If you need any help, let me know. My credit was not stellar when I entered the profession.
     
  10. ganewbie
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    ganewbie Expert

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    Thanks Bob, I'm sure I'll be visiting these forums often!
     
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