Don’t Get your Refund Early

With tax season coming up, many people are already planning how they will spend their tax refund. In order to get more people coming through their doors, accounting companies are promising to give you the expected refund on a secured credit card as soon as your taxes are filed. In these hard times this is a tempting offer. After all, who couldn’t use a little extra money during these economic times? Although you may be tempted by these claims, there are a number of reasons why you shouldn’t be depending on this type of refund anticipation loan to pay off your bills.

By using this refund anticipation loan instead of simply waiting for your refund check to be mailed to you, you are looking at losing money over the long term. The amount of fees that come with using this “Emerald Card” are staggering. Unless you are in significant need of your tax refund right away, there is a lot of benefits to simply waiting a little bit longer to receive your money. Unless you are about to file for a Minneapolis bankruptcy and are advised to take this type of loan by a Minnesota bankruptcy lawyer, you should consider the number of fees that are included with this type of loan.

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