3 Important FAQs about Tax Loans

Before you take the time to apply for tax loans you may have important questions that need answers. It’s smart to get answers and information before making any financial decision, and loans are no exception. Poor financial choices can lead to things like credit card debt, late fees and interest payments you can afford, and a damaged credit score. Get the answers here to three of the questions we get asked most often about tax loans.

1. Do I have to have a refund on the way or be in the middle of tax season to get approved for a tax loan?

These are common misconceptions that a lot of people have about the tax loan you can get through this online service. It does not have to be traditional tax season at the beginning of the year. In fact, you can apply for and get approved for these loans any month of the year and literally on any day, seven days a week.

You also do not have to have a refund coming to get approved. Many borrowers like to use these loans to get their refund cash sooner, which makes sense. If you do have a refund that has been delayed, for instance, you can get the cash now and repay the loan later with the actual refund. But, this isn’t a requirement, and you can use a tax loan for any reason you want, with or without a refund.

2. Is having a tax loan out better than getting into credit card debt?

In a lot of ways, yes. Credit cards are easy to use, which is why so many people turn to them in the first place. But the one big problem about credit cards is that the companies actually encourage you to be in debt. This is good for them, because you end up paying them more in interest. But for you it’s bad to be in debt for months or years. Credit card debt can lower your credit score, cost you extra money in interest payments and late fees, and it can cause a lot of stress as you struggle to pay it off.

The better solution is to use a loan, like this tax loan, that is designed to be short-term. You’re not supposed to hang on to the debt for too long, and repayment is expected in full within a week or two of borrowing the cash.

3. How do I apply for and get approved for a tax loan?

The better solution to credit card debt is to use a simple tax loan. This is a loan you can apply for online or with a free mobile app. Fill out a short application with some basic information about you, your job, and your bank account. Submit it through the app or online to get connected to a lender. That lender will give you an answer in minutes. The answer is probably going to be an approval. This is because the main requirements for getting approved are having a job, having a regular paycheck, and an income that is $1,000 per month or more. You also need to have a bank account to which the cash can be transferred. With your big questions about tax loans now answered, what are you waiting for?

3 Important FAQs about Tax Loans