Should I use My Tax Refund For Payday Loans?


tax return for payday loansThis time of year people are always wondering should I use my tax refund for payday loans or should I just keep making payments on them?

We have a simple and direct answer to them, NO!

We see people do this every year and a person can use this money in much better ways and accomplish paying off those payday loans all at the same time!

Let’s take a look at how e can take a tax refund and turn it into a goldmine of help!

[We can show you how to eliminate your payday loan debt without spending your tax refund. Click here to see how!]

Why Not pay Off The Loans?

Well, I never said not to pay off the loans!

What I said was no to paying off the loans with your income tax refund.

Why not get the most out of your money by paying off these loans for a considerable discount and maybe have some of that tax refund left to spend on other things like fun stuff!

Let me explain!

So many people get their tax refund and dump the whole thing on their outstanding payday loan debt.

While the hope is this will pay down and possibly eliminate one or more outstanding payday loans many times it does not end up that way!

What usually happens is there will still be an outstanding balance on one or more of the loans and within a month these loans are right back out of control due to the high-interest rates charged and unexpected expenses people incur.

Where do you end up?

Well, you still owe a bunch of payday loan debt and you now have no cash from your income tax return.

Now, what if I told you there was a much better way to handle this whole situation and come out with little or no payday loan debt and a very manageable bi-weekly or monthly payment on any outstanding balance that might be still owed PLUS, you would still have your income tax refund?

Sounds like a pretty sweet way to handle this but I know you are asking how this can be done so let’s take a look!

Do you want to know how we do this?

It is really no secret and t is the smart way to approach out of control payday loan debt.

We have put together a plan that works and saves you a ton of money while at the same time cleaning up your past due loans and you do not have to dump your tax return onto this debt!

Check out our Payday Loan Repayment Plan and see how we do it!


Now you know that your tax refund and payday loans can go together quite nicely!

So here is your chance to not only keep your income tax refund and spend it the way you choose you can also clear up all of that payday loan debt for a huge discount!

Enjoy your refund and as always we want to hear from you!

Please leave any comments or questions below and we will address them promptly!

[We can show you how to eliminate your payday loan debt without spending your tax refund. Click here to see how!]

20 thoughts on “Should I use My Tax Refund For Payday Loans?”

  1. Hi Shawn,
    Thanks for sharing this post. There I was thinking the conventional wisdom of getting rid of debt would suffice here but looks like I was mistake as I’ve seen that scenario where the outstanding balance left quickly gets back up to the level it was originally, and in some cases more than the original.

    I’ll have to take a further look into your plan.

    1. Hi, James!

      Thanks for stopping by and yes, the balance can baloon very quickly and before you know it like you said, you owe more than you did originally!

      If you ever need any help give us a holler, we will be here!


  2. While the rules here in the Philippines is quite different from what you have there in your country, I have a brother that I think would benefit from reading this article of yours. He’s working in New Zealand, and will soon transfer to Australia. In one of the conversations between them and another family member living in Australia, they discussed about what you said here, about using tax refund. I think, referring him here would be a great favor for him. I’m sharing this now…

  3. You ask a very intriguing question about payday loan debt and tax refunds. I haven’t thought about it. I really like the link at the bottom of the post in regards to the payday loan repayment plan. That is very helpful. I agree with the post in NOT using your tax refund to pay down debt. It is your own money and you should do something fun with it. That is a great recommendation as I am in full concurrence.

    1. Hi, Elan!

      I have seen people pay these things down but not completely pay them off and 3 months later they owe more than the original debt before the pay down!

      Wasting money!

      Thanks for stopping by and if you or anyone you know needs help we will be here!


  4. Great article, thank you for laying that out.

    I have always felt paying off debt is ideal so if you have cash from a tax refund. Why not pay your pay day loan off. However, you make a really good case of the pros and cons of doing that. I would have never thought unless you can pay it all off, how quickly it can regrow on you and backfire.

    1. Hi, Lo!

      Yes, it can backfire really fast and before you know it you are right back where you started plus you have no tax return money left!

      Thanks for stopping by and please help spread the word that we are here!


  5. The plan to payoff the payday loan is very helpful. I would think it would make the most sense to use my tax refund to pay that loan down, but with your repayment plan I see there are other options.
    Getting out of that situation is overwhelming, the step by step shows hope!

    1. Hi, LO!

      E$xactly the way to do it is to pay off these loans using our plan and save that tax refund for yourself!


  6. Shawn,

    What a great service you’re offering! I’ve never personally had payday loans, but I have supervised people with them. At work, they become so stressed and unproductive because of their focus on their money problems. It’s nice to know there is a service like yours to help get them away from that heavy burden, constant phone calls, and ridiculous interest!

    1. Hi, Tiffany!

      Thanks so much for the compliments!

      Send those workers our way and we can get them back into the productive mode by eliminating their payday loan debt!


  7. Thanks for sharing this post. Actually I am already retired and had paid up all debts but this post is something a youngster can be made aware off. In today’s world it is difficult not to have debts and the way we smartly pay of debts will be beneficial on the long run.
    I am actually curious on how you could advice anyone on using the tax return money wisely.


    1. Hi Andra!

      I tell them to save the money!

      In today’s world it is so important to have more money than you owe and people are actually starting to think this way. Debt is nothing but a burden in most cases because it is unnecessary. Student loan debt is out of control and credit card debt is right behind i.

      It is a great feeling when you want something and you pay for it in full when you buy it.

      I do know many who find themselves in this kind of debt are really struggling to just survive and hopefully thyere will be more programs out there that do not take advantage of their situations like these loans do.

      Thanks for stopping by and yes please share the word!


  8. With so many people in huge debts these days, we need more articles and help guides like this! Often the issue is that people are not using their money in the wisest way and paying off the wrong things first.

    Debts of any kind can be incredibly stressful and we all need reminders and advice from time to time as to how to manage them best. Thanks for a useful article.

    1. Hi, Louise!

      You are so right about having a guide hen it comes to financial hardships. We have created  page iof resources that helps people find alternatives to payday loans. Feel free to check it out free Available Resources and we will be adding more in the coming weeks!

      Thanks for stopping by!


  9. Hello Shawn
    Being debt-free is a wonderful feeling but a few years ago things weren’t so good.
    Payday loans, loan sharks and a couple of scam thrown in meant I was living way out of my means. I had to work things out for myself and having a young family to care as well meant it was twice as hard.
    It would have been so much better having a plan to guide me through the process.
    Even though I’m no longer in need of a service like this I found your article very interesting and shall recommend it to those who may need it.

    1. Hi, Jackie!

      Thanks so much for the kind words and I am so glad things are better for you now!

      We appreciate any help in spreading the word that we are here to help people who need it!

      Thanks for stopping by and sharing with us!


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