Income Tax Refund Loans Can Grease the Gears When Life Gets Sticky

Income Tax Refund Loans make life run more smoothly.

Ever run out of sick time… and then get sick again? Run out of vacation days, and have to travel home for a family event or celebration? Miss days from work – and pay – because your car is in the shop? Life would be so much simpler if we could plan for emergencies, but then they wouldn’t be emergencies, would they? Good or bad, wedding or funeral, planned or unexpected, life’s events will invariably interfere with our carefully calculated budget. Car repairs, best friends’ baby showers, and expensive prescriptions drop out of the sky and make us recalculate how much grocery money we have this week, or whether we can pay the rent on time. If you’re like most of us, you look forward to your annual income tax refund – but wouldn’t it be nice to be able to spend that when you need it most, instead of just at tax time? With income tax refund loans, you can do just that.

It’s Simpler Than It Used To Be To Get Income Tax Refund Loans

Income tax refund loans, or refund anticipation loans, used to be issued only by the companies that do professional tax preparation. In order to receive the advance you needed to go there and have your tax return completed by them, the fees for which would be deducted from the loan you could receive. The interest would also be paid up front through deduction from the check you’d receive. In addition to receiving less cash up front, the loan is issued as a check that you have to return to the office to pick up, then deposit to your bank account and wait for it to clear. Contrast that to the new online process that allows you to apply at any hour that works for you, from your own home or anywhere else with a secure internet connection. The application and approval are completed within minutes, with no cumbersome paperwork, and your money is deposited directly to your bank account within one business day. Could it be any easier?

Income Tax Refund Loans Are Available Regardless Of Your Credit Score

Many people who have adjusted to living with damaged credit don’t even consider applying for any kind of loan anymore – it’s difficult and embarrassing to be turned down over and over again. That’s why it’s important for everyone to know that the lenders who qualify applicants for income tax refund loans use a different set of criteria than standard bank loans and credit cards do. That’s one reason the application is so quick and easy, and doesn’t even include the usual list of credit references. They don’t even pull a credit report – because your long-term credit history isn’t important when the advance will be repaid within a month or so. It’s more important to look at your current circumstances – steady job with direct deposit to your bank account, no short term loan defaults on your record, and basic identification information that checks out. Simple!

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Income Tax Refund Loans Can Grease the Gears When Life Gets Sticky, By Eric Knapp - Today