Taxpayers anxious to collect refunds.

• Position: Your Life - Brief article

Consumers who overpaid their income tax in 2009 and are anxious to get their money back are the target of refund anticipation loan advertisements, cautions the Associations of Independent Consumer Credit Counseling Agencies, which indicates that individuals should resist the temptation of these loans and decide the best way to use the money for their personal financial situation.

The appeal of these loans is that people can get their money very quickly While it does take about six weeks to get a refund for those who send paper returns via mail, consumers who file electronically and choose direct deposit can cut that time to 10 to 14 days. The fee charged to get your money a few days sooner using a refund anticipation loan can be the equivalent of a 250% annual interest rate.

"Exercising patience and creating a plan for the best use of the money can make a difference...