Wednesday, August 24, 2016

Avoid These Mistakes To Help Your Tax Anticipation Loan Be Approved!

Avoid These Mistakes To Help Your Tax Anticipation Loan Be Approved!


Some of the most common errors made on all types of online loan applications are made on tax anticipation loans as well. Since these types of loans are offered based on a brief application form, every piece of information on that form is of vital importance! Let’s look at some of the most common errors that cause loans to be declined:

• Make sure your income meets the monthly minimum. There’s absolutely nothing a lender can do if an applicant’s income is below the stated required monthly minimum income level for the loan they are requesting. If you work more than one job, make sure to include the various pieces of your income to make sure your total reaches that threshold.

• Proofread your application before clicking Submit. Even one small error can jeopardize your tax anticipation loan approval, so make sure every item on the form is correct. For example, it’s a common typographical error to transpose two numbers in a string. If your employer’s address is 5287 Main Street and you accidentally type 5278, attempts to verify your employer will fail. This will cast doubt on the veracity of the information in your application and prevent you from being approved.

• Double check your paydates. Repayment of your tax anticipation loan is drafted directly from your bank account, and it’s done on a payday so that even if your refund from the government hasn’t arrived, the chances of overdrawing your account are reduced or eliminated. If your memory is off or you misread your calendar and list a weekend day as a pay date on your application, the loan will not be able to be approved.

• Make sure you meet the other critieria. In addition to the minimum income there are a few other requirements – you’ll need to have a valid ID, a working telephone number, be at least 18 and have a bank account that accepts electronic payments and withdrawals.

How Do Tax Anticipation Loans Work? How Fast Can I Get Money?


Depending on the time of year, the first place you might think of when you’re in need of extra cash might be your income tax return. If you know you’re getting money back, but not soon enough for the need you have in mind, tax anticipation loans allow you to borrow against that future windfall now, when you need it. Like any other payday-style loan, you’ll repay the funds from an upcoming paycheck – so when your tax refund does arrive, it’s all yours! This is very different than the original tax loans provided by preparation companies, where the consumer was required to sign off on having their government refund direct deposited to a bank account belonging to the preparation company, never to be seen again! The process is fast and simple – you’ll complete a basic application and be approved within minutes. There are no financial statements or copies of your tax return required, and you can receive cash directly into your bank account as soon as the next business day!

No comments:

Post a Comment