http://www.paydaypolice.com/n86.html Online payday advances are a tough call. No matter how hard we try, we can never get a clear idea of who is at fault with online payday advances around. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 More often than not the Payday Police are called into situations completely beyond our control. We have no idea who said what first We never know if the lender is breaking the law or if the borrower is at fault. We even have a hard time knowing who needs the police more - the people applying for faxless payday advances or the lenders offering up the service. Online payday advances are a crazy beat and a tough time for any seasoned copper. Try as we might,. we'll never have complete control over the entire situation. Who's to blame for online payday advances? We know there is a huge problem with online payday advances today - average citizens are getting their hands on incredibly dangers, incredibly costly loans and for the most part people just can't handle the demands and obligations of pure, uncut fast cash. But even more incredible is the fact that the lenders are acting in complete agreement with the law: They can legally charge 500% APR for their payday advances - because its not a rate! Every time you miss the repayment date you are charged a one time late fee - not a rate. They can make collection however harsh and however imminent as they please. They can even sick the district attorney on you for insufficient funds. They can even slide in a few sentences of fine print creating extra fees and hidden costs to their payday cash advances, and throughout all this horrible lending practice our hand's are completely tied. We are servants of the law, and the law states these lenders offering online payday advances can legally do the great majority of what they do. Sorry, but its out of our hands - that does not mean however that we all can't change the laws for the better. Oh, well change laws to fit our desires alright. Anything to beat these no fax payday advances. Us payday police hate faxless loans more than the Crips! What needs to happen The first great victory for the borrowing masses will come when rates are finally controlled. Late fees, interest rates - its all the same thing and these lenders should be complying with federal usury laws. Secondly, there will come a day when greater approvals will be necessary to qualify for online payday advances. Less people will qualify, the lenders will profit less - a great day for the average Joe Paycheck ( or is it? See how today's fast payday advances are essential for your financial stability). Sat, 26 Jul 2008 15:00:00 EDT