2007-11-20 23:39:48 · 6 answers · asked by JellyCat 4 in Business & Finance ➔ Taxes ➔ United States
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 which is 36%. It starts around December 10th. Check your local office for details
As I've said before people need to get their facts straight.
"A wise man speaks because he has something to say. A fool speaks because he must say something."
2007-11-21 15:53:55 · answer #1 · answered by Fool in the Rain 6 · 0⤊ 0⤋
No. The banks who were making the actual loans have pulled out mostly due to massive fraud.
You can still get a refund anticipation loan or RAL as it's sometimes called but must file your return through a preparer who offers the option. Of course, they'll rape you with outrageous fees and charges so you should only consider this if you are facing immediate eviction or need food for your kids.
2007-11-21 10:08:00 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 1⤋
Yes, but in a different format. It should be starting either at the end of November or the early part of December.
2007-11-21 11:47:31 · answer #3 · answered by nealeinmi 3 · 0⤊ 0⤋
Go to hrblock.com and read their announcement of the Emerald Advance Line of Credit. It's not the same as last year but it you may be able to do it.
2007-11-21 11:02:02 · answer #4 · answered by ninasgramma 7 · 0⤊ 0⤋
Not exactly as it was, but they do have some program through their own bank to make a line of credit available. I think it's only available to past customers of theirs. Fees and interest will cost you a bundle if you use it.
2007-11-21 11:11:28 · answer #5 · answered by Judy 7 · 0⤊ 1⤋
Yes they are, but it's a bit different from last year. Here's the details that have been made public at this time.
http://www.hrblock.com/presscenter/pressreleases/pressRelease.jsp?PRESS_RELEASE_ID=1633
2007-11-22 23:41:32 · answer #6 · answered by edandyvonnemoore@sbcglobal.net 3 · 0⤊ 0⤋