Is Having Bad Credit an Issue for Most Companies...?

[IvyLane]

In this economic climate I think they need to amend that stipulation..I mean the insurance companies themselves have filed for bk so its kinda hypocritical to exclude someone from working with you due to their personal credit issues

 

[DUDE]

can anyone explain how Vector works? is there a way i can find out if i have a vector hit without applying fir a new contract

 

[magagent]

DUDE, do you owe any money to insurance companies or a GA? Every insurance company does not automatically put a "vector" on you just because you have a chargeback. Every insurance company will not "check" your vector before they appoint you, some do and some do not.

 

[Mark]

can anyone explain how Vector works? is there a way i can find out if i have a vector hit without applying fir a new contract

Their phone number is 888-607-0555

Call that number.

 

[TheSalesWolf]

Recently I started counting agents that have filed for bankruptcy when they fill out new agent appointments through us. Recently the percentage has increased to almost 35% of agents thorugh our agency have filed for bankruptcy sometime over the past 7 years. 35% That's a staggering number however I have never had one agent have a problem obtaining appointments from any carriers like: United Health, Humana, Assurant, Aetna, IAC, ING, AIG, Fidelity, United of Omaha. etc... The only agents that I have had issues with are agents that owe other insurance companies money. You get a $3,000 chargeback for an Annuity or Life Insurance policy then walk away from producing for that company. Obviously the other carriers are going to be interested in that.

 

[tcarlj]

Heres an odd situation for you, just so you know ins companies DO look at credit, etc. I have decent, not fantastic credit, but I had a lot of problems in the distant past. I worked long and hard to resolve them, but 1 company did decline for for a tax lien from 1993!!! yes you read that correctly, 1993. It was paid off ages ago and I hadnt even thought about it in years. We are trying to resubmit, and it looks pretty positive, but it does go to show these things can be and are looked at.

 

[arnguy]

I believe that if it indicates that the tax lien was satisfied you should have no problem at all. Just be certain that the current credit report does indicate that situation.