Busting Myths about Tax LoansYou think you know tax loans, but we bet you believe some of these myths that most people believe about this convenient and easy type of loan. There are a lot of common misconceptions about tax loans that too many people buy into and miss out on a great loan because of them. Let us help you understand what these loans are really all about and show you just how easy it is to apply and get approved for cash.
Myth 1 – Tax Loans Are Strictly Available January through April
Sure, this is the time of year you really start to think about taxes, but the truth is that tax loans are available year round. Taxes are more complicated than four months of the year, with extensions, errors, delays, and other factors that make paying taxes different for everyone. If you find you need cash at any time of year, or if you have an extension and will be getting your refund much later than you thought, you can rely on tax loans.
Myth 2 – Tax Loans Are Only for People with Perfect Credit
Tax loans are not for the privileged few who never made mistakes that led to poor credit. These loans are for everyone. You don’t have to be afraid to apply just because your credit score is low. You’ll find that the lender offering these tax loans are pretty flexible when it comes to credit, using other factors to approve borrowers, factors that go so much further than credit score and tell them more about you than a number ever could.
Myth 3 – Tax Loans Will Be a Big Hassle
Most people assume that getting any kind of loan is going be time-consuming, stressful, and generally a big ordeal. This is true of some loans, but it is not true of these tax loans. It’s easy to apply online, but you can also find an app that you only need to download once. Apply in minutes, from home, at work, on your break, on your commute, at your kid’s game, or wherever you have your mobile device on hand. It’s easy, much easier than you imagined, applying for tax loans.
Myth 4 – Tax Loans Are Only for the Desperate
Some people have this idea that loans like these, loans that are convenient, fast, and easy and that offer smaller loan amounts, are used only by people who make bad money decisions and end up in desperate situations. Most borrowers who use tax loans are just normal, hard-working people who often live from one paycheck to the next out of necessity. They sometimes run out of cash before the next paycheck comes in and they rely on these loans to provide just a little extra cash.
Myth 5 – Tax Loans Cost a Lot
All loans cost something, this is true, but there is a common misconception that tax loans that are quick and convenient come with an extra high cost. The truth is that these loans are relatively small and they are short-term, so even if the interest rate seems high, it doesn’t actually cost you that much. People who use tax loans find them to be very reasonable.