The inheritance cash advance business has been around for years. There are, however, only a few relatively large companies. You know who they are if you have ever searched for an inheritance loan or advance online; they are the companies on the top of all the search terms. The problem with being a large firm in this current environment is that probate estates are taking longer to settle. This means that if you advance a lot of money in a lot of estates, you have to pay a lot of interest on it. This interest is part of the overhead of these large firms. This overhead eventually get passed along to the heir.
If you are looking for a large advance, 25,000.00 or more, you are going to be forced to go with a large company and pay their prices. However, if you only need a small inheritance loan/advance, be sure to call some of the smaller, self-funded companies. If you do your homework, you might save yourself 500.00 to 1,000.00 in fees! By homework, I mean calling companies a little further down on the Google list. Some of these companies are actually brokers for the larger companies. If you call them, you will really be shocked because their is a broker fee that is built on top of the already high fee. When you call for your quote, make sure that you are talking with a company who funds their own transactions.
If you find yourself in need of a small inheritance loan/advance, don’t be lazy! Make a few more calls and you will have hundreds of dollars. Remember to avoid brokers and large inheritance advance companies if you only need a few thousand dollars. Large companies are set up for larger advances.
You will also get much better customer service with a small firm if you only need a small advance. The salespeople at the larger inheritance advance companies are like sales people in any industry; they are on commission. That means that the larger advance requests pay more in commission that the smaller requests. Your advance might take a lot longer to fund than you were originally led to believe if your funding officer is busy with larger advance requests. A smaller company will be able to give you the one-on-one personal service and a speedy funding that you need.
Remember: do your homework and save hundreds if not thousands of dollars!
Erik J. Rose, J.D. has seven years of experience working for the largest inheritance cash advance companies in the industry. Rose set out to provide the best rates and service to heirs in need of smaller advances. His firm, Inheritance Loan Company, is self-funded to keep overhead a low as possible. The savings is passed along to the client.