Saturday, 14 May 2011

You May Qualify for a Probate Cash Loan Even if...

One of the most attractive features of probate cash loans is that these can be secured even in situations where you would typically not be eligible for a conventional loan. Probate cash loans or inheritance cash loans can be obtained even under the following circumstances:

  • You are unemployed, or have bad credit. Not having a job or having a bad credit history will not stop you from being eligible for a probate cash loan.
  • There is no will in existence. If there is no will, then an estate attorney will be able to determine whether you are eligible for a portion of the estate under the laws of California. You can then apply for up to 30% of that inheritance in advance.
  • The probate is ongoing in a different state. Even if the probate process is being undertaken in a state other than California, you may be eligible for a probate cash loan. It's quite common for heirs or beneficiaries to be living in a state different from the deceased.

Therefore, you can secure an inheritance cash loan even in those circumstances in which your bank or money lending agency would not lend you money. Besides, you don't have to worry about paying back the loan. The estate will take care of it for you. At the time of distribution of the estate, the loan is repaid from the estate funds.

Even if the estate takes a much longer time than expected to settle, it won't make a difference to the amount that you owe. A probate estate lender assumes several risks when it lends probate cash loans, and delayed estate distribution is just one of those risks.

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