You owe under 10,000 in student loans and are default? Thank you for the information.
Total Comments: 3
Posted: Fri Nov 01, 2013 02:35 pm Post Subject:
You have to disclose that. Why would an insurance commissioner allow someone who can't be responsible with his own money allow that person to come into contact with other people's money?
Two of the characteristics required of a licensed agent are to be a person of "integrity" and also of "good reputation". Skipping out on $10,000 of student loans that one promised to repay is evidence of neither.
Would you agree as a condition of licensing to repay the $10,000 debt with your first $10,000 of commissions? That could be a requirement. Same is true of unpaid child support.
Posted: Sun Nov 03, 2013 11:53 pm Post Subject:
Would they give that as an option because I would?
Posted: Mon Nov 04, 2013 05:09 am Post Subject:
would they give that as an option?
Anything is possible -- but more likely as a requirement, not an option. Both federal student loan debt and unpaid child support cannot be discharged via bankruptcy, and each has priority claim status, so it would not be unusual as a requirement of licensing to have to bring those amounts current before a license could be granted.
Just wanted you to be aware that you may have to disclose that in your license application, and if so, it will be an obstacle to licensing.
Posted: Fri Nov 01, 2013 02:35 pm Post Subject:
You have to disclose that. Why would an insurance commissioner allow someone who can't be responsible with his own money allow that person to come into contact with other people's money?
Two of the characteristics required of a licensed agent are to be a person of "integrity" and also of "good reputation". Skipping out on $10,000 of student loans that one promised to repay is evidence of neither.
Would you agree as a condition of licensing to repay the $10,000 debt with your first $10,000 of commissions? That could be a requirement. Same is true of unpaid child support.
Posted: Sun Nov 03, 2013 11:53 pm Post Subject:
Would they give that as an option because I would?
Posted: Mon Nov 04, 2013 05:09 am Post Subject:
would they give that as an option?
Anything is possible -- but more likely as a requirement, not an option. Both federal student loan debt and unpaid child support cannot be discharged via bankruptcy, and each has priority claim status, so it would not be unusual as a requirement of licensing to have to bring those amounts current before a license could be granted.Just wanted you to be aware that you may have to disclose that in your license application, and if so, it will be an obstacle to licensing.
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