when does jackson hewitt or hr block start the holiday loans based on your tax return?

Answer 1

HSBC bank, who previously funded these loans, has backed out of doing them due to people not repaying these loans. Therefore, Jackson Hewitt and Liberty Tax service are unable to offer any type of holdiay loan or even the paystub loan. H&R Block opened their own bank last year so they are able to offer a similar product for their clients only. They are limiting the loan to prior clients only because it's less risky. More than likely, if someone has been a prior client, they will return and repay the loan. You must have had H&R Block prepare your tax return in 2005 or 2006. The line of credit is for $500 and there is a charge for it. And the interest rates are not above the federal maximum. It starts around December 10th. Check your local office for details.

Answer 2

No sooner than when the IRS starts accepting tax returns, which is typically around January 15th. The numbers of customers qualifying for Refund Anticipation Loans has dropped dramatically over the past 2 or 3 years since the banks that fund the loans have started checking the customers' credit and qualifying the loans using standard loan underwriting criteria. For the past 3 years, Block has offered returning and repeat customers a small personal loan after Thanksgiving through its subsidiary bank, Block Bank, NA, under the brand name Emerald Advance. Standard credit criteria apply and the interest rate is high (around 40% APR). This is NOT tied to your expected refund, however you can have any refund that you are getting applied against the outstanding balance of the loan IF you have Block prepare your return for you. They have not yet announced if they will be offering those loans again this year.

Answer 3

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RE:
when does jackson hewitt or hr block start the holiday loans based on your tax return?

Answer 4

earliest you could get a loan would be the day they complete the FILING of your return. Since you probably won't have all your W-2 information, 1099's, etc, before the end of January, anticipate the loan on or about Feb 1st or shortly thereafter.

Answer 5

They aren't doing the same type of paystub holiday loan this year, but word is that H&R Block is doing some kind of line of credit - it might be limited to just their prior customers.

Answer 6

I THINK DAT IT IS RELLY ****** UP DAT U HAVE TO BE A 2005-2006 CLIENT IN ORDER TO GET THIS SIGNATURE LOAN DAT THEY ARE OFFERING TO THESE CLIENTS. WHAT ABOUT PEOPLE WHO ARE IN NEED OF FUNDS AND CAN'T GET ACCESS BECAUSE MONEY IS LIMITED. U HAVE TO ALREADY HAVE FILED A 2005-06 TAX RETURN WIT THEM IN ORDER TO RECIEVE THIS 5OO DOLLAR LOAN STARTING ON 12-10-07. AND JACKSON HEWITT WILL BE STARTING PAYSTUB LOANS ON JAN. 2ND. IT WILL BE TOO LATE FOR SOME PEOPLE WHO REALLY NEED THAT MONEY NO MATTER HOW HIGH THE INTERESTS RATES ARE.

Answer 7

HR Block has announced a line of credit offer. Details are here:

http://www.hrblock.com/bank/emerald_advance/index.html?pgnavp=bank_tax&pgnavc=bank_tax_emer_adv

Answer 8

doubt they could begin to do so until after W-2 and 1099 forms come out -- which would be 1st week in February or so.