Comments on: Refund Anticipation Loans Suck

By: Lamartine

Lamartine — Fri, 26 Nov 2010 16:18:08 +0000

Read the following Book; Broke, USA: From Pawnshops to Poverty, Inc.How the Working Poor Became Big Business

I enjoy the discussion here and I have to highlight the financial illiteracy that continues to hold people back and negatively affects generational wealth and prosperity. The referenced book provides insight and understanding as to why it continues. Illiterate consumers makes happy, rich retailers. If we really study our spending habits, balance them against long term financial goals, then invest in assets vs. liabilities we’ll be amazed at what we can accomplish.

By: lisa

lisa — Wed, 03 Feb 2010 19:46:30 +0000

i’ve noticed a lot of my peers complaining that this year either their return is half of what it was the prior year OR they owe money. i didn’t make any more money than i did in ’08 and my return is about half of what it was. at least i don’t owe. thank god. i also noticed that when i compared my H&R block e-file with one I did by hand on the 1040EZ, the H&R block return amount was short about $40.00. I’d rather do it by hand and mail it in and get an extra $40 than get gyped.

By: Ryan

Ryan — Thu, 03 Dec 2009 03:55:53 +0000

Wes, I recommend talking to someone at your bank and requesting an extension or a payment plan. Some lenders are willing to do this. Another option is to try and get a loan from a Peer to Peer Lending company such as Lending Club or Prosper. Best of luck.

By: Wes

Wes — Wed, 02 Dec 2009 01:06:21 +0000

Generally, I ot for extra withholding to make sure I don’t owe the IRS any money @ the end of the year.

Some health related expenses recently caused me to fall behind on mortgage payments. The bank issued a deman letter giving me til Jan 15th to catch up the past due amt (approx. $2500).
After a lot of crying & hopelessness, a friend asked if I expected a tax refund. While I am expecting more than the amount needed to pay up my mortgage, I’m not sure that even filing electronically would get the money back in time.

Any suggestions (other than going for a tax refun loan)?

peace
Wes

By: Ryan

Ryan — Tue, 24 Nov 2009 23:30:25 +0000

I’m not sure. No one will do it until they know how much your refund will be, and tax forms won’t be released until January. So that would be the earliest you would be able to apply for a tax refund anticipation loan (unless you still haven’t filed for 2008 taxes).

By: Dovie

Dovie — Tue, 24 Nov 2009 22:58:30 +0000

Is there anyone that does a refund anticipation loan right now other than Jackson Hewitt?

By: cheryl

cheryl — Thu, 29 Oct 2009 18:17:40 +0000

Does anyone know where you can get a loan against your taxes without going through H&R Block. They did our taxes but we need to send them in because we are filing late. We signed for direct deposit so the money will be there automatically. Any help will be greatly appreciated

By: Ryan

Ryan — Mon, 26 Jan 2009 14:18:43 +0000

JR Miranda: I agree, these RALs are awful. There are some states that are working to ban them, or at least cap the interest rate on them. I think that is a reasonable idea.