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Last Post 03/14/2009 11:57 AM by  BobH
Credit History
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James4
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03/07/2009 4:53 PM
    I am general contractor and have decided to become an adjuster. I have had a few customers not pay me for work completed i.e. roof installations, siding and/or gutters. The fact I have not been paid many thousands of dollars has made it impossible for me to pay my financial obligations. What are the odds I will be declined work because of my credit history?
     
    I have already passed my Texas all-lines exam and have been invited to attend training for certification for an adjusting firm. I have spent at least $2,000.00 and will need to spend more to attend the certification training. My biggest concern is I'll spend more money, pass everything only to be turned down because of my credit.

    Thank you
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    Ol' Ghost
    Member
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    Posts:279


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    03/07/2009 7:49 PM
    Sir, accounts receivable problems are the bain of all who are self-employed. It is sincerely hoped your employment applications to the insurance company human resources departments quickly result in a job offer in the claims department where you can learn and earn at the same time as a staff adjustor.

    We thank you for your correspondence.

    Ol' Ghost
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    James4
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    03/07/2009 9:12 PM
    I appreciate your response, Ol' Ghost.
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    adjusterclay
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    Posts:14


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    03/08/2009 8:55 PM
    I work for a major firm and they have nevr checked my credit.  You should not have any problems.
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    ALANJ
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    Posts:142


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    03/09/2009 11:54 AM
    This is going to be a greater and greater problem in the biz. I know of several top notch adjusters who showed up at a storm started working files and a few days later fired. They flunked the credit report. Some vendors have you bonded behind your back. When a negative credit report hits they refuse to place the bond and the rest is history. Seems smaller regional vendors do not go to the hassle of this. I just received a email from a vendor this morning wanting to run a credit / background check. We have all taken a hit with this economy and I do not know of anyone who hasn't taken a few hits on their credit report over the last year.
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    HuskerCat
    Veteran Member
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    Posts:762


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    03/10/2009 4:18 AM
    There can be various interpretations of credit reports.  Many people might have a little "blip" here or there because of the economy, increasing divorce rates, etc.  Perfect credit histories belong to our parents & grandparents who are in their 70's & 80's, and yet they today would not be "credit worthy" to lenders.  Why?  Because they have no credit card balances, or mtg payments or car payments.  
     
    Like the previous poster, I have never had a negative employment impact based on a credit report (as far as I know).  Maybe that means that as long as I'm in debt and always have been, it means I'm not a thief (or a poor one at that)...and the employer feels safe having me spend their claims money where it should be spent.   With that said, your employment opportunities are going to rest with the attitude of the HR people where you are applying.  It will also depend on whether you are trying to work a staff claims job with check writing authority.  As an independent adjuster, with no checkbook at hand, this becomes less of an issue.
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    Jud G.
    Advanced Member
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    Posts:509


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    03/10/2009 9:12 AM
    It is correct that many people have taken a hit from the stagnant and declining economy and, consequently, their credit may have been affected.  However, the economy's decline also results in a greater decline in the job market with a reciprocal upswing for higher qualified candidates- good credit is just one plus.
     
    Employers will be looking for any reason not to hire people.  If a credit issue comes up with yours, you're sure to be weeded out.
     
    Having good credit says much about your dependability (very few exceptions).  It is accurate that many prospective employers don't use this tool and it is to their disadvantage.
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    tonyd46
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    Posts:76


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    03/10/2009 4:42 PM
    As an independant adjuster my credit history is no ones business but mine. If my employment is based on my credit score then they really are not looking for experiance. As an independant adjuster in over 25+ years my credit history has never been asked for nor have I ever had to agree for them to run my report.My personal opinion is if you want to run mine then I should be llowed toi run theirs.This way we are on even footing.Look in this market and ecomony unless your are of the 2% that has no money worries then I am sure that the majority of folks have at least one or two hickies on thier reports and probley most of it is medical. There are plenty of independant firms that don't ask or require this information.My suggestion is look around and apply to the firms that are interested in you and your skills and you should do okay in this market.
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    Da-Biscuit
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    03/10/2009 6:02 PM
    Tony D, I remember you from the mold team.. been a long time.
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    LarryW
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    Posts:114


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    03/10/2009 8:38 PM
    Tex,
    If it has been such a long time, how do you know Tony didn't "turn out to be a good adjuster"? Next I guess you will tell us you did. Or does it not matter because someone made you the judge of good vs. bad adjusters?
    No one is absolutely worthless, at the very least you can serve as a bad example.
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    HuskerCat
    Veteran Member
    Veteran Member
    Posts:762


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    03/10/2009 8:42 PM
    Tex brings out the big wooden spoon again!
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    host
    CatAdjuster.org Founder
    Posts:716


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    03/10/2009 8:46 PM
     Tex,
     
    I'm not sure if your comments are some sort of inside joke or not, but please review the site Terms of Use.
     
     
     
     
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    kmerian
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    Guest
    Posts:13


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    03/10/2009 10:25 PM
    It should not be a problem I have less than perfect credit, and have always had work. Now, you may not get hired by State Farm or Allstate, but try the smaller companies and IA firms, and you should have no problems. This industry is more about ability than creditworthiness.
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    Catmandale
    Guest
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    Posts:39


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    03/11/2009 9:52 AM
    James,

    I have had both companies that run checks and those that do not.

    It may be that a bigger problem for you could be cash flow. This is not a cheap business to be in. In Cat situations, unless you are staff, you are footing all the bills until you get losses closed and billed. Even then it may be a while before you see your green. Sometimes never.

    Be cautious and consider whether it might be better to try your core business again - maybe estimating for a restoration firm or project management.

    Good Luck with whichever you try.

    Dale
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    ChuckDeaton
    Life Member
    Senior Member
    Senior Member
    Posts:1110


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    03/11/2009 10:42 AM
    The problem for those with any "bad" in their history is that there are those who don't have any "bad", good or negative but no "bad". Those that produce, get the job done with no fuss are always preferred over those that have "issues" no matter what they are.

    Most probably if you failed at a previous job and you are carrying the remnants of that with you, if your life is in a mess, it is going to be difficult to succeed as a catastrophe claims adjuster.

    Read the posts on these pages, can you afford to travel to Texas, work and not get paid the $15,000.00 you think you are due? Construction is not the only business where bills are ignored. As the economy gets worse so will catastrophe claims adjusting. The Art Boyles of the world are going to multiply.

    You might want to consider staying on the porch.
    "Prattling on and on about being an ass with experience doesn't make someone experienced. It just makes you an ass." Rod Buvens, Pilot grunt
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    Tom Toll
    Moderator & Life Member
    Senior Member
    Senior Member
    Posts:1865


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    03/11/2009 12:41 PM
    With economic times being what they are right now, I suspect that credit reports will be requested. I know many of the vendors are now asking for drug tests and credit history. Times are changing and we all must strive to not get into credit trouble. Watch your pennies and charge no more than you have to.
    Success is not final, failure is not fatal: it is the courage to continue that counts.
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    tonyd46
    Member
    Member
    Posts:76


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    03/11/2009 4:06 PM
    Tex.
    Hello, now who are you in real life? There were a lot of us in cali. working that mess.and as to whether or not I am a good or bad adjuster is up to the companies that keep me on first call don't you think? As for any of us who have opinions about who is a good or bad adjuster that is subjective. Myself I judge that by how many vendors call me to work first out at the time of the storm. So far I must be doing a fairly decent job as i had claims from the 18th of september till now and more reinspections are coming every day.As for other adjusters who are we to judge their work as we are not hiring them or paying their invoices. Anyway have a great day to all it's back to the computer for me.
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    Da-Biscuit
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    Posts:9


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    03/11/2009 5:14 PM
    Tony D.

    Everyone loves to " toot " their own horn after a hurricane season don't they ! Brag and boast how long and how many reinspections they're working..blah blah blah

    Hear it every year..minus 06 & 07

    Good luck and keep up the great work !
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    Ol' Ghost
    Member
    Member
    Posts:279


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    03/12/2009 9:37 AM
    Now, if I could get another storm I could pay off the Mastercard bill that was supposed to be paid off on the last one. Then my credit rating would be sparkling clean.

    Wouldn't that be loverly?

    Ol' Ghost
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    tonyd46
    Member
    Member
    Posts:76


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    03/12/2009 10:25 AM
    Craig,
    sorry if i didn't catch the spelling error didn't have time to use spell check thanks for catching it. As for the reinspetions they are not mine but other adjusters work that are no longer here to do themselves. That is one of the advantages of being a local and living here full time. I was not bragging just stating facts. Sorry if it offends you but you know what I really could care less about your opinion. My work ethic and product speak for themselves with my vendors and that in the long run is all that matters to me.All I can say to you is I hope this season was good to you and you enjoyed yourself.Have a great day.
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