Insuranceguyatl
New Member
- 16
I have over $10k of bad debt and have declined from many FE Companies. Does anyone know of any FE companies who are a little more lenient with bad credit agents?? Help please!!
I Have Bad Credit and Can't Get Appointed!
- Thread starter Insuranceguyatl
- Start date
- 9,744
What arrangements have you made to settle the debt?
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- #3
Insuranceguyatl
New Member
- 16
I haven't as of yet due to the lack of income. Any suggestions?
- 9,744
Very few (if any) will appoint you until you make concrete (as in you can prove it to them) plans to handle it.
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- #5
Insuranceguyatl
New Member
- 16
Know of any FE that are flexible?
- 1,908
You are going to have to open yourself up to the legal department, explaining what has gone on, what you intend to do, that you will be paid only as earned.
They will make you feel like sh&t. That's their job. I find it a farce, that a company that will pay you as earned wants to know this. It will also take some one to one meetings with the DM's in the area, impressing them of your intentions.
Good luck. You are not the only one who has gone through it.
They will make you feel like sh&t. That's their job. I find it a farce, that a company that will pay you as earned wants to know this. It will also take some one to one meetings with the DM's in the area, impressing them of your intentions.
Good luck. You are not the only one who has gone through it.
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- #7
Insuranceguyatl
New Member
- 16
Yeah I feel horrible as it is. Wasn't my intention to have bad credit. Lol thanks for the advice!
- 15,041
You've never heard of an annual premium? Ask a few resident IMOs about that. I believe a couple got burned by agents who collected large annual premiums and got paid. But turns out, the check was no good. The IMO then got stuck with the chargeback.
- 9,744
Make some payment arrangement(s) to get the debt cleared up.
- 5,309
Bad debt as in Vectored? Or charge-offs as in unpaid credit cards?
Ask for as-earned, submit 10-20 quality cases to prove you're not going to rip them off, then ask for a minor advance increase.
Work with an IMO that offers aged leads at a good price, buy 100 of them, and work them to death. Rinse and repeat.
The big carriers might not offer the above, but the smaller ones more interested in developing a loyal sales force will be willing to do this as long as your up-line is up for it.
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