Refund Anticipation Loan Requirements

A refund anticipation loan (RAL) is money borrowed from a bank or lending company in anticipation of a tax refund from the government. Although many borrowers claim that they are not informed of the requirements needed to receive a refund anticipation loan, the application process resembles that of any other loan.

As with most other loans, refund anticipation loan applications require that a borrower grant a lender permission to perform a credit check. Refund anticipation loans are appealing to people with poor credit and therefore this requirement discourages many people from applying for a refund anticipation loan.

Also, some lenders require that you use them to file and prepare your taxes before they will issue you a refund anticipation loan. This is to make sure, as much as possible, that the refund that you anticipate is the refund you will receive and therefore that the lender will be paid back fully.  

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