If a family member has recently passed away and has left you any assets, inheritance funding company can be your best bet when it comes to receiving the money you’re entitled to in the fastest way possible. It works on the same principles as a loan against the estate, but you do not pay the money back to the inheritance funding company directly; it’s more like you sell part of your inheritance to them.
Such companies were created to help you receive money in advance, as the process tends to take some time—usually a minimum of six months, which can go up to a year. Moreover, when you’re dealing with these companies, you usually don’t need to pay any interest or take any risks.
So, let’s look at some important tips to help you find the best one for you:
Refer to the Better Business Bureau
Organizations such as the Better Business Bureau (BBB) can provide you with the most reliable ratings and trusted customer reviews regarding any company. To find the top inheritance funding company, you need to take a good look at each review and pay attention to how a company is responding to complaints. This will show you a lot about the customer service standards you’ll be dealing with.
Take a Look at Their Website
Your number one concern is to stay away from scams. Look for proof on the company’s website; are they easy to reach by phone? Is there an accurate office location on the website? Are they clear about the fees?
Trust Your Gut Feeling
It’s that simple! Collect some questions you are concerned about and give the company a call or send them an email. If their responses are vague or you just don’t feel right about them, then take them off your list.
Seek Legal and Financial Advice
Some companies may skirt around serious legal regulations, which will put you and your money at risk. Thus, it is advised to have someone you can trust—like your lawyer—to read the documents and protect you from any issues you might face after receiving your funds.
Know How It Works
Inheritance funding companies require certain documents along with a filled online form to start reviewing your request. These documents usually don’t include any information on income, credit score, or employment. Most companies will get back to you as soon as possible with approval and provide you with the fund in a couple of days.
After you sign the contract and receive your money, the funding company will follow up with the estate to pay them directly. So, you really do not need to do anything after receiving your money.
Watch Out for Extra Expenses
You should beware of hidden expenses during the entire process. Although it will be deducted from your estate once cleared, it is still better to know about them from the get-go. It goes without saying that you should also watch out for scammers. Always read up on the company you choose; even though its services may seem more expensive at first, safety comes with a cost.
Inheritance funding companies are very helpful and better than most loans. It is a fast and reliable way to receive money from your inheritance to pay off debts, start an emergency fund, or solve any other financial issue. Just remember to check the company’s reputation, and beware of any hidden fees before signing any documents.
