2006-12-27 06:35:51 · 5 answers · asked by country56c 1 in Business & Finance ➔ Taxes ➔ United States
The only people who profit from refund anticipation loans is the lenders that prey on people desperate to get the cash now. If you take into account the fees and charges they charge you and the amount of time they actually lend the money to you (considering that if you electronically file you can get your refund in two weeks), it works out that they are essentially charging you interest in the amount of 300% on an annual basis. Not even loan sharks are that greedy.
2006-12-27 07:05:20 · answer #1 · answered by jseah114 6 · 3⤊ 0⤋
Sure you can. They're often called a refund anticipation loan, or something to that effect. The problem is that they're a short term loan with a very high cost, much higher interest rate plus fees than you would pay if you talked to a traditional lender, or you could use a credit card check with a low interest rate for a limited period of time.
2006-12-27 14:45:57 · answer #2 · answered by davidepeden 5 · 1⤊ 0⤋
Basically, that is what the "quick cash" or cash advance is for your income tax return, if you get it done somewhere like H&R Block (other tax preparers do this too).
That actually would be kinda silly, since many returns come pretty quick nowadays, unless something is wrong with it. The last few years, I've got mine back in just 2 weeks. Many others get theirs back within a month. Just be patient.
But if you really want to do that, talk to your bank/credit union, they might be able to do that without costing you too much.
2006-12-27 14:42:08 · answer #3 · answered by joannaserah 6 · 2⤊ 0⤋
What kind of loan is it that you want to get? If its just a payday loan you have to have a bank account-checking account in order to do it. If its for a different kind of loan I would have no idea.
2006-12-27 14:43:24 · answer #4 · answered by Shellybelli24 2 · 1⤊ 0⤋
If you go to H&R Block they have a plan i believe.
2006-12-27 14:39:01 · answer #5 · answered by egotist61 3 · 0⤊ 1⤋