Questions About Background Review Application

[vikkifowble]

Hello.

Hoping someone can help me. I can't seem to find a clear answer and I've called the CA DOI and they seem to say that it's kind of a case by case basis. So, yes, I had some tough situations in the past that made my financial life very difficult. I filed bankruptcy in 2002 and again just had one discharged in feb of this year. Yes. I have learned valuable lessons do, no need for harsh responses. I beat myself up enough. I also owe the IRS 1500 but we have an arrangement for me to have that paid by July 26th. The other thing that's worrying me is I have a tax lien for a 500 tax debt to the state. I sent in a payment arrange my to them but have yet to hear back. Most of us have made mistakes and when the economy took a dive, I did too and along with that I decided to bow out of working to take care of my dying mother. So, now I want to start over with a new career. I took the pre licensing in March. Studied diligently on my own until Tuesday and went and took the test and passed it. It was not an easy feat. I'm wondering if you think they will deny me. Thank you. Very concerned.

 

[xrac]

Answer all questions truthfully. Explain payment arrangements and go for it. I suspect the state will license you but that you will have a hard time finding a company that will give you advances.

 

[vikkifowble]

Not sure what advances mean???

 

[xrac]

Not sure what advances mean???

Most companies will pay you up to 9-12 months commission in advance. You sell a policy that is $30 per month and they will advance that commission. Instead of getting say $30 per month. You get $300 up front. Otherwise you have to wait and be paid each month as earned. The commission advance gives you a leg up if you are starting out out. However, if any business falls off the book you would then owe the company that money that was not earned.

 

[vikkifowble]

Most companies will pay you up to 9-12 months commission in advance. You sell a policy that is $30 per month and they will advance that commission. Instead of getting say $30 per month. You get $300 up front. Otherwise you have to wait and be paid each month as earned. The commission advance gives you a leg up if you are starting out out. However, if any business falls off the book you would then owe the company that money that was not earned.

does that pertain to independent brokers as well? I have pretty much written off getting hired by a captive company.. :(

 

[xrac]

does that pertain to independent brokers as well? I have pretty much written off getting hired by a captive company.. :(

Probably........................ Just to be honest you are a poor credit risk.

 

[vikkifowble]

I'm not sure really how to get started. I am sure not everyone that sells insurance had great credit.. Right?!?! How else sm I supposed to start over?!?

 

[xrac]

I'm not sure really how to get started. I am sure not everyone that sells insurance had great credit.. Right?!?! How else sm I supposed to start over?!?

I am not saying you can't get appointed only that you will probably have to settle for as earned and will not receive advances.