- 7,790
Somarco, did either carrier give you the opportunity to explain or another chance when you cleared up the problem?
How Important is Credit Score
- Thread starter apples4meplz
- Start date
With IM I was applying direct to the carrier. They were not willing to revisit my situation. I had explained on my appointment papers the reason behind my credit issues but that did not matter to them.
The AG appointment was through a GA who (supposedly) writes a lot of business with them. He had a lead program. I paid him $350 advance for leads at the time I gave him the AG paper work. We discussed my situation in detail before submission.
I got the leads but no appointment with AG. Wrote enough business to make a small profit but the life did not go through AG so he got nothing for his effort.
Considering AG is in the credit business and solicits people with damaged credit I was very surprised at their action.
Folks don't realize how tough it is to lose $750k through no fault of your own (other than picking the wrong business partner) but you don't file BK. Instead you liquidate a bunch of assets and get a cash advance from MC to pay Visa. During that time I became an expert at managing cash flow but they didn't seem to care.
The AG appointment was through a GA who (supposedly) writes a lot of business with them. He had a lead program. I paid him $350 advance for leads at the time I gave him the AG paper work. We discussed my situation in detail before submission.
I got the leads but no appointment with AG. Wrote enough business to make a small profit but the life did not go through AG so he got nothing for his effort.
Considering AG is in the credit business and solicits people with damaged credit I was very surprised at their action.
Folks don't realize how tough it is to lose $750k through no fault of your own (other than picking the wrong business partner) but you don't file BK. Instead you liquidate a bunch of assets and get a cash advance from MC to pay Visa. During that time I became an expert at managing cash flow but they didn't seem to care.
- 1,926
Been there got the t shirt. Keep a good letter in your files that covers everything and current situation. I had some problems due to illness and haven't been turned down by anyone. One carrier did turn me down but I sent a letter showing current production and they changed their mind and offered annualization.
- 14,808
Don't know about AG. I know I have contracts with Blue Cross, Aetna, GR, Assurant, World, Celtic, Coventry, and 8 life companies and my credit was a train wreck when I applied for all of them.
- 7,790
Geez, somarco, that is rough. Had you asked for a contract with advances? If so, do you think they would have relented on an "as earned" basis or did not really matter to them? Also, assuming that hopefully your situation has imprioved, have you thought about reapplying to IM and AG?
- 14,808
They are actually in the process now of reconfiguring credit scores and go figure - it'll be tougher to get a good score.
Farmer's seems to care somewhat about Credit Scores
When I applied at Farmers, they were big on my balance sheet. By the instructions of the GM, I put a bunch of fake numbers down and then they checked my (not so good) credit. It seemed they only cared about a bankruptcy on the credit report.
When I applied at Farmers, they were big on my balance sheet. By the instructions of the GM, I put a bunch of fake numbers down and then they checked my (not so good) credit. It seemed they only cared about a bankruptcy on the credit report.
- 14,808
I think your credit would be an issue with some of the outfits like State Farm, Allstate or Nationwide if you wanted to be in-house and on some sort of base pay or draw.
- 314
Country Ins is like that too. You can pass all of the tests and interviews but if your credit score is not up to company standards when they pull it, your SOL.
- 14,808
Can you even call yourself a real salesman if you have good credit?
