Advance Loans

[Armando Beaujolais]

The Wisconsin Revenue Department weighed in on the check stub advance loan issue in a release dated December 20, 2006. They call it a "scam" where compaines are charging people to borrow their own money.

An excerpt:

"MADISON – Earlier than usual, the Department of Revenue, the Department of Financial Institutions and the Department of Agriculture, Trade and Consumer Protection, warn of a new tactic some tax preparation firms are using to lure new customers into high cost advancement loans well before tax season begins. The Wisconsin Better Business Bureau also has announced recently that Advanced Fee Loans were the worst scam in Wisconsin in 2006."

Read the interesting release here:

http://www.dor.state.wi.us/news/061220.html

[KBTS]

Advance Loans

Already had several people call and ask if I offered this service. Some were in late December. I tell them I think the program is a big ripoff and explain why. Then I tell the caller if they insist they want to do it anyway, HRB and JH across town would be glad to "help" them.

[dsi]

And they then visit HRB & JH just as soon as they leave your office.

[OldJack]

And they then visit HRB & JH just as soon as they leave your office.

And that is a good thing.

[taxmandan]

But it doesn't sound like they are going to do anything about the 'scam', maybe scams are legal in Wisconsin? If they really cared they would move against this scam, do a little grandstanding against the perpetrators of this usurious rip off. Some politician must see some political mileage in doing so, even if 'doing the right thing' doesn't motivate them.

The Wisconsin Revenue Department weighed in on the check stub advance loan issue in a release dated December 20, 2006. They call it a "scam" where compaines are charging people to borrow their own money.

An excerpt:

"MADISON – Earlier than usual, the Department of Revenue, the Department of Financial Institutions and the Department of Agriculture, Trade and Consumer Protection, warn of a new tactic some tax preparation firms are using to lure new customers into high cost advancement loans well before tax season begins. The Wisconsin Better Business Bureau also has announced recently that Advanced Fee Loans were the worst scam in Wisconsin in 2006."

Read the interesting release here:

http://www.dor.state.wi.us/news/061220.html