by Chris Bantly » Sun Jun 14, 2009 07:01 pm
One of my agents came to me very upset the other day and said that he was being forced into bankruptcy. Although I didn't want to pry too much, I did need to understand why and I must say that it legitimately is out of his control. He is going through a divorce and his wife has filed for bankruptcy. Being that most of their debts are joint, his only other option is to take all the debt upon himself which would be financial suicide.
That being said, he is concerned about losing his license. I explained that you cannot be discriminated against for declaring bankruptcy. He was then worried about losing all of his contracts and that his appointments would all terminate him! I honestly can say that I have no idea whether this could happen to him or not!
I realize that it is very hard for someone with horrendous credit to obtain appointments with reputable companies, but at the same time...he has already shown that he is a good producer and has had an impeccable record! With the economic problems people are having, do you think the companies are going to be a little more lax on their requirements? Do you think he has anything to worry about?
That being said, he is concerned about losing his license. I explained that you cannot be discriminated against for declaring bankruptcy. He was then worried about losing all of his contracts and that his appointments would all terminate him! I honestly can say that I have no idea whether this could happen to him or not!
I realize that it is very hard for someone with horrendous credit to obtain appointments with reputable companies, but at the same time...he has already shown that he is a good producer and has had an impeccable record! With the economic problems people are having, do you think the companies are going to be a little more lax on their requirements? Do you think he has anything to worry about?
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