Getting on the phone with a debt collector during tax time is risky business. The collectors have sneaky but legal ways of knowing that you may well qualify for a hefty tax refund, especially if you are a low-income debtor. It shouldn’t come as much of a surprise to learn that the collection agencies want your refund. As such, they may well try to pressure you into using a tax preparation service that will cost you a fortune in the long run.
Entries Tagged as 'Refund anticipation loans'
It’s Tax Refund Time and the Vultures are Circling
March 29th, 2011 · 1 Comment · Debt Collection, Taxes
Tags: Debt Settlement·RAL·RALs·Refund anticipation loans·tax refunds·tax return·tax service companies·Taxes·vultures
Refund Anticipation Loans: Can You Say “Predatory Lending”
February 10th, 2009 · 2 Comments · Banking, Consumer Info
If you’ve never heard of a “Refund anticipation loan”, or RAL, it’s probably a good thing. RALs, also known as “instant refunds”, are short-term loans that are made based on the notion that you will be receiving a tax refund from the IRS. But they come at a significant price in terms of fees and [...]
Tags: instant tax refunds·IRS tax refunds·predatory lending·RAL loans·Refund anticipation loans
