Friday, August 19, 2011
Whats the diffrence between a rapid refund & anticipation loan?
They are called refund anticipation loan, a bank affiliated with your tax preparer issues you a loan, based on the refund that you will be getting from the IRS, in return you pledge your refund check to be direct deposited into that bank, thus your debt been paid then. Rapid refund is a "trade mark" given by H&R Block, they did try to register that, but I believe that they were not allowed, and so the Tax Preparation industry as a whole uses that term, but it is just a refund anticipation loan. As with any loan you better find out how much you are been charged for the process, some are abusive. if you neeed more information on any credit issues or taxes call me, my cell is (847) 322-9982
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