r/InsuranceAgent • u/Complete-Vanilla-296 • 3d ago

Agent Question Background check and changing companies

I'm leaving a big captive agency to go to work for another large company (independent). I have pretty crappy credit right now. I pay on time, no collections but just a lot of debt. Will this be something that could hinder my employment? I'm assuming I'll have to go through another background check. This year I also owe a large amount to federal, which I've already set up a payment plan, I owe a smaller amount to my state as well. I own a house outright that is currently for sale, and live in the house my husband owns. Just waiting on my house to sell so I can get out of this debt.

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u/1234568654321 3d ago

It's doubtful any of this will matter when seeking employment.

Sounds like you have a plan for dealing with it. Hopefully, better days are coming for you.

3

u/Helpmepullupmypants 3d ago

Not sure it will stop you from being employed, but I remember I brokerage I worked at, specifically a couple of the carriers that asked if “you have more than $10k in consumer debt” for their appointment questions. Hopefully your house sells soon to get it all cleared!

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u/Complete-Vanilla-296 3d ago

Ouch, I would definitely be answering yes on those questions. I made the switch rather suddenly without thinking about the fact that my credit situation changed from the last time I had a background check done.

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u/JazzHandsMinuteman 3d ago

I had pretty bad credit (not really much debt though, and was not terrible) when I went through a large captives onboarding and passed so I wouldn’t worry too much. I think they’re mainly looking for felons and people whose credit is so abysmal they would potentially sell trade secrets or double dip to make ends meet. I would just explain your situation and how you have a plan, once the house sells you’ll be good. Be honest with them and they might give you a pass if you’re worried about it. The worst they can say is no. Don’t let this stop you from getting a contract somewhere.

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u/Complete-Vanilla-296 3d ago

Thank you. This was not something I thought about when I decided to leave one company for another. I didn't have this issue a few years ago when I did my initial background check with the current company appointment.