Saturday, 31 December 2011

Will a Foreclosure Prevent Me from Getting an Inheritance Cash Advance?

One of the most frequent questions that persons have for an inheritance cash company is whether their financial problems or current financial situation will have any impact on their eligibility for a cash advance.

Generally, bad credit or the state of your bank balance will have no impact on whether you're eligible for a probate cash loan. However, while determining your eligibility for an inheritance cash flow, the company will prepare a credit report that will determine whether you have any liabilities like pending child support, or any judgments against you that could affect your eligibility.

Home foreclosures do not automatically disqualify you from eligibility for an inheritance cash advance. In fact, in most cases you may not be prevented from obtaining an inheritance cash advance based merely on a home foreclosure or discharges in bankruptcy. A foreclosure does not interfere with an inheritance cash advance.
However, when you apply for an inheritance cash advance, it is important that you make your financial situation as clear to the funding company as possible. Tell the company about any creditors that you're aware of, any liabilities that may affect your inheritance, or any court judgments against you, in order to ensure a smooth processing of your advance application.

Since your inheritance cash advance is really an advance on your inheritance and not a loan, your income status is not of any particular interest since there are no monthly installments to pay. Any claims on your inheritance like medical claims, can impact the ability of your estate to pay back the funding company in full. In such cases, the probate cash company will assume the risk, except in those cases where the person was aware of these claims, but failed to inform the company about it.

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