Difficulties getting Licensed/Appointed due to bad credit/tax lien?

[MotivatedinFL]

Hello, can anyone shed light on how difficult of a time I will have getting either licensed in FL and/or appointed by carriers if I have bad credit and a federal tax lien? I have read a little bit about it but the info was very vague, I'm wondering if anyone with direct experience can tell me more definitively if I will experience difficulties. Thanks in advance.

 

[scagnt83]

Hello, can anyone shed light on how difficult of a time I will have getting either licensed in FL and/or appointed by carriers if I have bad credit and a federal tax lien? I have read a little bit about it but the info was very vague, I'm wondering if anyone with direct experience can tell me more definitively if I will experience difficulties. Thanks in advance.

No issues with licensing that I know of.

Appointments vary by carrier. Some are more strict than others. It also depends if you are trying to be captive or indy with them.

If you have a payment arrangement, usually that is enough.

You will have to disclose the tax lien. The amount, age, and payment agreement will decide if you can be appointed or not.

Bad credit will depend on the amount owed.
Indy will be easier to get vs. captive.
Most carriers dont care about small debts if you just want an independent broker contract. And a payment agreement will suffice for most large debts.

Most captives will care about any and all bad debts.

 

[adjusterjack]

Call the licensing department and ask.

 

[PrivClientSG]

(Due to the Federal tax lien) there are some carriers that will appoint you, and there are others that will not.

 

[FMOadvisor]

Hello, can anyone shed light on how difficult of a time I will have getting either licensed in FL and/or appointed by carriers if I have bad credit and a federal tax lien? I have read a little bit about it but the info was very vague, I'm wondering if anyone with direct experience can tell me more definitively if I will experience difficulties. Thanks in advance.

I have helped many agents with credit issues get appointed. Make sure you do a few things.
1. Disclose all issues on your original appointment request
2. You MUST have payment arrangements or a debt service that you are working with to resolve the all the issues. Proof is always required.
3. Most carriers will initially decline you and then you have to appeal the decision. In my opinion UHC is the most flexible, Cigna is the least flexible.

Hope that helps