PLEASE HELP! About to Become New Agent, Can U Be Appointed with Bad Credit??

rujah

New Member
4
hello-

I am currently almost done with my michigan health accident producer license, and im excited to get started becuz i switched over from the medical field and know i will do well. My question is, once I have passed the test will I have problems getting appointed to health insurance carriers because I have bad credit? I have no bankruptcies, just medical debt. i believe my entire debt (literally everything on my credit report is about 18,000). I had good credit but then my soon to be ex completely ruined it. I am trying to get back on my feet and freaking out because i have heard they wont accept you with bad credit? IS this true?
 
Yes and no.
Some carriers wont contract with you unless you have some sort of credit (history of credit).

Did you have a company you planned on starting with?

Are you going through a divorce? Can you provide documentation the debt is related to the separation?

Those things may help if you have to work things with a carrier to get contracted.
 
yes we are separated...2 companies that want to work with me its 1099 work and u get appointed thru the health insurance carrier. my question is, i need to know what companies do and which dont so i dont waste my time.
 
yes we are separated...2 companies that want to work with me its 1099 work and u get appointed thru the health insurance carrier. my question is, i need to know what companies do and which dont so i dont waste my time.

Even if it's 1099 they still look at credit. And I'm not %100 which ones do and don't.

What upline are you going through to get contracted? Or direct?
 
im not sure what u mean? im def a newbie at all this. one company is called agent franchise which is through gohealth, and the other is national insurance agency.

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work from home agent in both cases

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both said get your license and then tell us and we will get u appointed to our carriers, both companies have over 70 carriers, so u obviously choose a few.
 
im not sure what u mean? im def a newbie at all this. one company is called agent franchise which is through gohealth, and the other is national insurance agency. ---------- work from home agent in both cases

Your upline is the IMO or company you contract through between you and the insurance company.

What do you want to focus on?
 
health/accident insurance

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i dont care what carriers they are as long as they accept me lol
 
hello-

I am currently almost done with my michigan health accident producer license, and im excited to get started becuz i switched over from the medical field and know i will do well. My question is, once I have passed the test will I have problems getting appointed to health insurance carriers because I have bad credit? I have no bankruptcies, just medical debt. i believe my entire debt (literally everything on my credit report is about 18,000). I had good credit but then my soon to be ex completely ruined it. I am trying to get back on my feet and freaking out because i have heard they wont accept you with bad credit? IS this true?



Just answer the questions on the application truthfully and give written explanations for any yes answers. Based on what you've said, I don't think you'll have any problems.

Oh yeah...be sure to blame everything on your soon to be ex.:twitchy:
 
It depends on a lot of factors. But in my experience, if you are making payments on the debt it makes a huge difference. If you have debt sitting there and making no attempt to take care of it the companies don't like that.

Just answer the questions on the application truthfully and give written explanations for any yes answers. Based on what you've said, I don't think you'll have any problems.

He's right. Be truthful and when in doubt answer "yes" and then explain in a nicely typed letter. Finish the letter with something like "With this new career I plan on paying off my debt as quickly as possible and get my credit score back up. I appreciate your consideration."
 
As a fellow Michigan agent feel free to give me a call..... I have extensive experience in the Health Field and know which carriers to work with. My number is on my website below.

Also, if you have collections on your Credit report for Medical bills.... They are easy to remove. Just dispute them. Collection agencies rarely re-report as it will cost them additional money to do so.
 

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