I am sure some of you have seen the ads where you leave with your check right when you get your taxes done. They pull a HARD inquiry and did not tell me. They do not pull one for the next day service. NO WHERE in there info did it state that they were going to pull a report.
I didn't know that until I started cleaning my credit up in December. They go under Beneficial Tax Masters under my credit report. I got them deleted from 2000,but I'm still disputing 2001's.
George both are loans- yes, BUT they did not ever pull my credit before for the next day service and did not inform me that they were doing so this time.
Are you sure they didn't pull for the previous years, and you just didn't notice?? The will pull report for RAL, they are esssentially checking to make sure you don't owe back child support, tax leins etc, they lend you the money and make sure the IRS will release it to them. And as I recall it used to be written in very tiny tiny print on one of the papers they have you sign. If they didn't tell you, the I would be upset, but with a loan this is expected
Yep. They pull it for any type of advance payment they may give you. But they never tell you about pulling your report. I found out last spring when I started to clean up my reports. I called the mgr. at my local H &R and raised hell. I've gotten all but 1 removed and that 1 is listed as a soft inquiry.
I just got done reading and yes you are right it does talk about RAL. I had no idea what this was, and it still doesn't state a credit report is pulled. Also another WARNING And this is VERY VERY fine print. If you have a debt with any of the following they will take it out of your check!!!! Mellon Bank, BANK ONE, Greenwood trust, Chemical bank, County Bank, Republic Bank, First Security Bank or Santa Barbara.
I see George's point. It's a loan, backed by only the expectance of your refund. Who doesn't pull these days for a loan.
FYI- I am not stating that I think it is wrong that they pull your report. I am saying that they do NOT tell you they are doing so, and there is nothing in the fine print that mentions the words "credit report".
Too funny I just happened to find our "denial letter" for the Refund anticipation Loan for last year. yes they do pull for any "loans" Beneficial Tax Masters, is what it will show up as... the denial letter was due to back child support owed by hubby it says: "Thank you for applying for a refund anticipation loan (RAL) through Household Bank, fsb., unfortunately, we are unable to approve your application due to the following reason: We have been informed that you have a reund offset with the FINANCIAL MANAGEMENT SERVICE (FMS)" In case anyone here owes back support and you aren't sure if they will keep your refund call 1-800-304-3107, it's all automated all it asks for is your SSN#.
I hope I don't sound like a know it all, but the commercial does say checks are supplied by Household. If that is so, I would naturally assume they would run my credit as HHF is a crappy, underhanded company. This sucks either way...I feel for those that had their score affected.
I think that everyone is missing my point. I KNOW that for this type of thing credit is usualy checked HOWEVER I feel people need to be told about it. There is nothing on there telling you they are going to pull it. For those that are not credit freaks, they would not see this as hurting them. They see it as a fast payday. Again, this was just a warning to consider this when going to get your taxes done.
How can they do this, is it legal? I understood that it was difficult for most anyone to attach or garnish a tax refund, at least without a court order. Besides the small print notice is this made clear to the customer before they apply?
I dunno. I am sure it is. It says... Please note: If I have a delinquent debt, I understand that HB may be acting as a debt collector hereunder attempting to collect a debt and that any information be used for that purpose. If I owe debts to more then one of entities listed above, I authorize and direct HB and other RAL lenders to pay such debts in the following order: HB, HTMI, Other RAL lenders, ERO.
****************************************** This is very troubling to me, it's probably legal, because you are "signing an authorization" to agree with such "deductions". I would like to see ALL the fine print though; however, even with the proper legal language, it would seem to me to be an attempt to collect a debt, are they becoming a collection agency?????? It seems that they must advertise this collection tactic to creditors, because with the exception of Greenwood Trust, which is <issues> the Discover Cards, & was an invention of Sears, & H & R Block is affilliated with Sears, I can't understand the connection, other than that of a COLLECTION AGENCY, they are begging for a class action lawsuit.
I agree Eagle. They are making you a loan and you agree to pay them with your tax return, so it probably is legal. I also agree that this practice makes them a collection agency., a collection agency that, in my opinion, is practicing in a fraudulent manner. They are marketing a loan secured by your tax return, and then use it to pay off your alleged debtors. Is this misleading or what.
FYI i got a mailer from HOUSEHOLD this year, getyour $ now thing. it says just visit your local H&R BLOCK and ask for your RAL. i said ya right! i owe them for my REPO and they bought my RHODES, UCNB and BENEFICIAL loan. this year will be just like last, did my own taxes online w/turbo tax, e-filed and direct deposit got the piddly 500.00 in the bank in 7 days! sorry HOUSEHOLD!! and i agree the tax people should tell you up front about the inquiry, when we came back from denver 4 years ago we had all these moving and self employment things 2 states ect.. so we thought H&R would be better than me. anyway they did get us a big refund but sold us on the RAL, my husband asked the guy right out do you pull our credit reports? he says oh no your loan comes out of your refund. well then we dont qualify for the full amount, whatever! anyway about 2 months later we go car shopping and i'll be damned if there isnt an inquiry from BENEFICIAL on both reports! oooh he was mad. i called the # and sure enough it was for the RAL, so be careful! kelly
http://www.hrblock.com/press_relations/content/pr_2000_41.html?source=pressArchive Looks like there was one.
