2009/06/04

Tax Refund Loans

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Avoid Pay Stub and Tax Refund Loans

Executive Summary about  tax refund  loans by Richard Chapo

What could be better than getting an advance on your tax refund from the good ole IRS? The interesting service in this case refers to loans being made by tax preparers in concert with banks to taxpayers. The fees can be atrocious.

The most direct name is a tax refund loan. A less direct name is a “pay stub” loan, in reference to the use of paycheck stub information to figure out how much money to loan you. While these loans are fine and dandy, they can come with some atrocious fees.

Short term loans are inherently expensive. Why? In the pay stub loan business, the fees often equate to 10 percent or more of the loan. That is a pretty high percentage for loaning you money for a couple of months.

Auto Title Loans and Tax Refund Loans Explained

Executive Summary about  tax refund  loans by Tammy Wood

What is an Anticipated Tax Refund Loan?

Annually many Americans find themselves needing their refund now causing them to obtain a refund loan as a quick and simple method to get their refund quicker. These kinds of loans are essentially short term borrowing made against their anticipated refund. The consumer typically applies for an anticipated refund through a company that prepares financial returns.

A Car Title Loan is an Excellent Alternative

Though a refund may sound like a quick and easy way to obtain your income tax refund sooner, obtaining a car title loan from a title lender provides you greater benefits. Most title lenders will discloses all of their rates and fees up front.

Some Car Title Loan providers allow you to pay off the loan over a 32-month term. Whereas in an anticipated tax refund the fees are automatically taken from your refund before you receive the amount.

Check out my other posting on: State Tax Refund

Tags: income tax refund loan, tax refund advance loan, tax refund anticipation loans, tax refund loans.

Filed under Tax Refunds by taxrefunds on Jun 4th, 2009. #

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