What is Tax Refund Loans

When a taxpayer receives a RAL, the tax preparer lends the taxpayer the amount of their tax refund less the cost of interest and fees for the loan. When the government sends the actual refund check, it is directly deposited into the bank that made the loan. If the refund is smaller than anticipated due […]

Secured vs. Unsecured Loans

Secured Loan Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien is placed on such item. The finance company or bank will hold the deed or title until the loan […]

Discover Home Equity Loans

A home equity loan, or line of credit (HELOC), allows you to borrow money using your home’s equity as collateral. To begin, let’s make sure we understand these two important definitions: Collateral is property that you pledge as a guarantee that you will repay a debt. If you don’t repay the debt, the lender can take […]

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Why students need better protection from loan fraud

Across the nation, a few for-profit colleges have been deceiving studentsinto taking out private loans that cost more than advertised. Others have made false claims about job placement rates or have offered credits that don’t transfer and – in some cases –don’t qualify students for the licenses they need. Veterans have been particularly targeted, with schools eyeing their GI benefits. […]