Contracting As an Independent Agent. Can He Get Contracted?

[crabtrap]

I started selling as an independent and a buddy I used to work with wants to get into selling insurance as an independent agent.

The problem is he went through a nasty divorce where his ex filed bankruptcy. BY no fault of his, he was forced to file a chapter 13 bankruptcy. He has no criminal record or any other issues other than the bankruptcy about 4 years ago which has since been dismissed.

Can he get contracted with all of the major FE carriers or enough to make a good income? He plans on joining up with an IMO as well.

I told him I didn't know. Help please.

 

[pcbinsurance]

"By no fault of his" makes me chuckle. He married her.

Anyway, some carriers might appoint him, some may not. He won't know unless he tries.

 

[crabtrap]

"By no fault of his" makes me chuckle. He married her.

Anyway, some carriers might appoint him, some may not. He won't know unless he tries.

Who said it was a woman? LOL

Everybody has a right to be miserable like you these days ,pcb. I will pass this enlightening response on to him.


Anyone with any insight or experience with this type of situation please post.

 

[rousemark]

Who said it was a woman? LOL

Everybody has a right to be miserable like you these days ,pcb. I will pass this enlightening response on to him.


Anyone with any insight or experience with this type of situation please post.

If the bankruptcy has been discharged and that is his only problem he should have no trouble getting contracted with most carriers.. Some will give him advance, some won't .. He will just have to apply, giving all the information on the application and see what happens.

 

[goillini52]

I started selling as an independent and a buddy I used to work with wants to get into selling insurance as an independent agent.

The problem is he went through a nasty divorce where his ex filed bankruptcy. BY no fault of his, he was forced to file a chapter 13 bankruptcy. He has no criminal record or any other issues other than the bankruptcy about 4 years ago which has since been dismissed.

Can he get contracted with all of the major FE carriers or enough to make a good income? He plans on joining up with an IMO as well.

I told him I didn't know. Help please.

Every company asks about it. Some ask if ever, some in the last 7 years and some the last 10. The fact that it's only been 4 years might be a problem with some. He'll have to attach an explanation to the application. I doubt it'll hurt him on more than 1/3 of the companies. Like PCB said, he won't know unless he tries.

 

[EAJoe]

Every company asks about it. Some ask if ever, some in the last 7 years and some the last 10. The fact that it's only been 4 years might be a problem with some. He'll have to attach an explanation to the application. I doubt it'll hurt him on more than 1/3 of the companies. Like PCB said, he won't know unless he tries.

I've seen guys with bankruptcies about 6 years old get put through pretty easily. I'd say a good cover letter explaining the details of the situation, and his current financial situation would do a lot in getting him approved. As long as he doesn't have anything negative on his credit currently, he should be able to get contracted.