Contracting Issues Due to Illness which Killed my Credit

[arand]

Contracting Issues Due to Illness which Killed my Credit can anyone please help?

Iv been an agent for 14 years. Never had a complaint of any kind my clients love me because I help don't sell. Clients have posted over 30 great reviews about me on my site. I was ill for a very long time. Allianz terminated my contract after being with them for aprox 10 years due to lack of production while I was ill.

America equity terminated my contract because they terminated my FMO for reasons unknown. American equity told me that agents terminated due to the FMO termination had a window of opportunity to 're contract with no background check however I wasn't told this or I certainly would have done so.

The terminated FMO told me I could not te contact through another FMO because I had a case in the works with am equity. It was a nice size case and I wanted to be sure I would get paid on it and it would seem that the FMO also wanted to get paid. I spoke with am equity a number of times to be sure all was well however none of the many times I spoke to them no one said anything about the opportunity to change FMO without needing a background check or changing FMO at all. Iv always been a good agent with am equity and all insurance companies abiding by every rule so no reason not to want me.

I'm taking steps to clean up my credit but it takes time and I have prospects for an an annuity but have no annuity company. I tried recently to get 're contracted with am equity but they declined me, I included a letter from my doctor to confirm what I told am equity and why my credit was messed up.

I feel better now than I have in many years and annuities are something I'm becoming very good at after years of practice and I have seen the positive impact they have had for my clients based on what they tell me I'm not just assuming.

Does anyone have any ideas how or who may contract me with a bad credit report strictly due to extenuating cercumstances? Is there an insurance company with a heart and will help an agent who has been through hell and is trying to put my life back together after a very long illness? Any help is greatly appreciated.

 

[donamese]

Your best bet is to do an honest and accurate write up to submit with your application. Some companies are more lenient than others. The challenge is they get excuses daily from people with bad credit. Some are probably truthful but most are likely excuses. If you have payment arrangements with the creditors, submit those as well so you can prove you are trying to make amends and pay what was owed.

 

[arand]

Your best bet is to do an honest and accurate write up to submit with your application. Some companies are more lenient than others. The challenge is they get excuses daily from people with bad credit. Some are probably truthful but most are likely excuses. If you have payment arrangements with the creditors, submit those as well so you can prove you are trying to make amends and pay what was owed.

I' appreciate your input am very aware of some people's inability to be honest and upfront which is why I have letters from my doctors which I submitted. Iv never been late on a credit card payment because I don't buy anything I can't pay for on the spot with the exception of my car. The bank took a change off on my vehicle however now I'm completely up to date. Need to file some back tax returns being completed right now. If I didn't have proof of illness from doctor and had a bunch of late credit cards indicating a person living beyond their means I would definitely say so however that's not the case. Being ill for 3 plus years would have a negative effect on most people. A doctor can loose their license if documenting false information so none would be stupid enough to do so with maybe the exception of being paid a crap load of money. What I'm looking for is a company who can understand that unexpected things happen in life which ironically is the reason for instance companies. An interesting twist in my situation. Not being truthful I know this business and not coming totally clean with an insurance company is something a newer person in the business might do, have access to all your personal information including health issues. When you contract your giving them permission to check you out from head to toe. Thanks again for responding.

 

[securico]

Some carriers are certainly more lenient than others. You could consider being contracted with a carrier as a licensed only agent (LOA). Sometimes this will help in their decision making. Some FMO’s have better relationships with carriers and are able to get some strings pulled. In regards to your credit is it liens, collection, or a bankruptcy? If it is liens or collections and you have a payment plan to satisfy the debt, the carriers will generally appoint you if you are making good progress.

Dan Simonsen
Securico Brokerage
Vice President
801-831-8245 (cell)
214-242-0283 (office)

 

[arand]

Some carriers are certainly more lenient than others. You could consider being contracted with a carrier as a licensed only agent (LOA). Sometimes this will help in their decision making. Some FMO’s have better relationships with carriers and are able to get some strings pulled. In regards to your credit is it liens, collection, or a bankruptcy? If it is liens or collections and you have a payment plan to satisfy the debt, the carriers will generally appoint you if you are making good progress.

Dan Simonsen
Securico Brokerage
Vice President
801-831-8245 (cell)
214-242-0283 (office)

Never heard of a licensed only can you explain? The main problem may have been a tax issue which is being corrected as we speak.

 

[securico]

Are you independent or in someone's upline(besides an FMO)? LOA means having your commissions assigned to your upline rather than being paid directly to you. For multiple reasons, carriers tend to be more lenient with appointments when someone is set up as LOA. There are work arounds to this.

 

[TevisVerrett]

Very good information, Securico. OP, my heart goes out to you, much good luck with this. I am with Revolution and Brokers Alliance, maybe I can put in a good word for you!

 

[arand]

Very good information, Securico. OP, my heart goes out to you, much good luck with this. I am with Revolution and Brokers Alliance, maybe I can put in a good word for you!

Thanks.

I can be reached at 216.235.1105. Adam

 

[arand]

Are you independent or in someone's upline(besides an FMO)? LOA means having your commissions assigned to your upline rather than being paid directly to you. For multiple reasons, carriers tend to be more lenient with appointments when someone is set up as LOA. There are work arounds to this.

Wouldn't want to be an Loa. I think I mentioned I don't owe any money to any insurance company I know many agents do, I haven't even had a chargeback or cancellation for probably 10 years. I need an fmo that has a good relationship with an insurance company. My credit issues are due to illness which is an entire story in itself but what would seem to be most important is my history truly helping people. I have roughly 30 client testimonials not saying "he's a nice guy" but thanking me for all the help iv provided along with some details as to how. Also the fact iv never had a single complaint of any kind. I do a lot of service work for my clients typically as they say more than ever expected. Lastly as I said I owe nothing to any insurance company not because I paid it back but because I don't have cancellations. I'm sure there are many honest agents with a lot of integrity. I used to manage new agents and know older ones but I'm yet to find an agent who doesn't find someway to find a shortcut or does some embellishing. My credit report illustrates me just surviving for years it doesn't reflect the type of person I am. Iv only recently tried contracting with one company I'm procrastinating because I don't want to get declined again. Iv had to pass or hold off two people with annuity money or money perfect for an annuity unfortunately I have no annuity company.

 

[Freddie]

Arand - did you find a solution yet? I can give you a call if you still need help. This would not be LOA. Thanks.