Cash Advances Save the Day for Cash Strapped Consumers: Six Weeks Too Long to Wait

Cash Advances Save the Day for Cash Strapped Consumers: Six Weeks Too Long to Wait

When you file a tax return by mail, you can expect wait up to six weeks for the IRS to issue a refund. Although there are some electronically filed returns that result in refunds arriving as soon 8 to 12 days, the official IRS site says that these refunds could take up to three weeks to issue. In today's economy, that wait time can result in a lot of extra trouble coming a taxpayer's way. As more and more people find themselves living paycheck to paycheck, an emergency fund is a necessary, but often hard to achieve goal. Even for those who regularly put aside cash for a rainy day, more than one emergency expense can wipe them out.

American's today face competing demands for their dollars' attention. People are attempting to keep up with their mortgage or rent payments while at the same time balancing many monthly bills, utilities, car loans or auto maintenance, and debt reduction. This list is not exhaustive and doesn't even include the unexpected: a dental emergency, unexpected ER visit, higher than normal electricity bill, or emergency travel need can turn a tight budget into an impossible one.

The IRS, which has worked to reduce refund wait times, now says that "it is not necessary" for consumers to get have access to their funds any sooner than their ten day estimate, and has taken steps to discourage lenders from making refund anticipation loans available to taxpayers.

If you're in the financial state many people are in right now, you don't need the IRS making your decisions for you. One of the privileges of living in the U.S. is the freedom of choice. Our choices don't always and don't always need to make sense to those around us. For some, paying a higher interest rate now to avoid fees and other financial consequences later is a cost they are willing to bear. For others who choose to wait for their refund checks to arrive, it is not. The idea is that American taxpayers should have the option to do as they see fit, not have their decisions micro-managed by government bureaucrats or third party advocates, however well-meaning.

Not all options are closed, however. Payday loans can provide you with the same quick and easy access to cash that RALs would have with one additional advantage. Instead of sitting in a loan store and discussing you RAL application, you can apply for a payday loan online, from your own home computer. You won't need to fax paperwork, drive to a loan store, or remember to make a monthly payment. Payment of the amount you borrowed as well as any interest and fees associated with the loan will be withdrawn automatically by your lender from your account at the agreed upon date with our prior authorization.

Using a payday loan can result in your getting the cash you need while avoiding the higher likelihood of RAL rejection, credit history searches, and the wait time required for your actual refund to arrive.

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