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7 Bumps

Refund Anticipation Loans are a scam.

Please do not throw away a big chunk of your refund to get it back a couple weeks early.
File on line if possible.
They charge you a fortune for your own money.
It is like dealing with loan sharks.


Asked by tootoobusy at 5:43 PM on Feb. 4, 2011 in Money & Work

Level 52 (487,465 Credits)
This question is closed.
Answers (9)
  • Even the ones through H & R Block. Everyone (ok, most people) can go online (that has access to a computer) and do their own taxes using H & R Block online. You e-file, pay $20, and in 10 days get your whole entire refund. It simply is not worth blowing a couple hundred dollars to get it a few days sooner. Your tax refund is not FREE money from the government, it's YOUR money, your hard earned money and to waste it because you can't wait a few days is shameful.

    Answer by slw123 at 9:08 PM on Feb. 4, 2011

  • This is a GREAT post, tootoobusy!! They take a lot of money from desperate people, or those that don't realize how much they actually take. I really think that it should be against the law, same with the check-cashing places.

    Answer by Scuba at 5:45 PM on Feb. 4, 2011

  • It sure is!  We paid 500 bucks one year to get ours RAL.  BS!  Now I file online by myself and keep that money!  :)


    Answer by MrsHouston47302 at 5:44 PM on Feb. 4, 2011

  • Unless you're about to lose your home or have something severely bad happen, I would not recommend them.

    Answer by Erica_Smerica at 8:11 PM on Feb. 4, 2011

  • An excellent reminder. I hope people listen to you!

    Answer by evwsquared at 7:10 PM on Feb. 4, 2011

  • Are these the ones through H&R Block too? My son is thinking of doing it.

    Answer by elizabr at 8:03 PM on Feb. 4, 2011

  • I don't understand why people use those. It takes 2 weeks or less to get them back when you file online yourself.

    Answer by heatherann0221 at 10:26 PM on Feb. 4, 2011

  • Go to you can E-file federal for free and only pay $9.95 to e-file state. We used it and got our state direct deposited in 2 days and our federal in 7 days.

    Answer by Anonymous at 2:48 PM on Feb. 5, 2011

  • It all depends on your circumstances. Last year we didn't have a choice we had 3 days before we had to move and my DH's boss postponed the end of year bonus. It sucked.

    Answer by 2murphyboys at 2:33 AM on Feb. 5, 2011