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Expecting a large inheritance, but dealing with a lengthy probate process? An advance from My Inheritance Cash might be able to help. While you won’t pay any interest since it’s not technically a loan, you’ll still be on the hook for a relatively high advance fee.
$100,000
Max. Loan Amount
Product Name | Inheritance Loans USA probate advances |
---|---|
Min. Advance Amount | $3,000 |
Max. Advance Amount | $100,000 |
Requirements | Qualifying inheritance of $15,000+, live in eligible state, US citizen or permanent resident |
Phone Number | 800-430-4551 |
My Inheritance Cash offers interest-free cash advances on your inheritance. Since it’s not a loan, your credit score doesn’t come into consideration, nor do you have to pay back the advance by a certain date. Instead, My Inheritance Cash collects the advance amount plus a fee directly from the estate once the probate process is complete — however long that takes.
My Inheritance Cash provides advances on inheritances that are stuck in probate court. You can apply for an advance of up to 20% of your inheritance, which is repaid by the estate — not you. Advance amounts range from $3,000 all the way up to $100,000.
Since these advances aren’t considered loans, you won’t be on the hook for any interest charges. Instead, the main cost you need to worry about is an advance fee. This starts at $2,000 and goes up to half of the amount you had advanced — minus $100.
For example, if you had $5,000 advanced to you, the maximum fee you could be charged is $2,400. The exact amount depends on the risks involved, how long it takes for the estate to be distributed and other factors. This fee isn’t paid up front, but is instead taken out of your inheritance once its paid out by the estate.
With its wide range of advance amounts and zero interest charges, here are just some of the perks of using My Inheritance Cash:
Consider these potential drawbacks before taking out an advance with My Inheritance Cash:
Not much as of April 2019. My Inheritance Cash receives an A- rating from the Better Business Bureau (BBB) based on factors like transparency and advertising practices — but that’s about it in terms of an online presence.
It’s not accredited with the bureau, nor does it have any reviews or complaints listed on its BBB page, Trustpilot or other online forums like Reddit. This isn’t exactly surprising considering the company’s only been around for less than two years.
To receive an advance from My Inheritance Cash, you need to meet the following criteria:
Residents of California, New York and Pennsylvania may have to meet special filing requirements as well.
You can apply for an advance from My Inheritance Cash online by following these steps:
To start the process by phone, you can call the provider at 800-430-4551.
When you submit your application, you may need to provide copies of the following documents:
Depending on the probate case and estate, other information may be required once the advance process begins.
There’s nothing left for you to do. Once the estate is distributed, My Inheritance Cash collects the amount advanced plus its advance fee directly from the estate. Then you’ll receive any remaining inheritance owed to you.
My Inheritance Cash can help you access up to 20% of your inheritance before it’s distributed. Though you won’t be on the hook for interest, its high minimum advance fee might not be worth it — especially if you’re only receiving a small advance. If that’s the case, you may want to consider alternative options for inheritance funding or other borrowing options in our guide to personal loans.