You require a pay day loan not under any normal circumstances but when you are facing financial hardships and have no alternative way of meeting the required expenses. The arrival of a lender at this juncture seems to be a blessing of the God since he is going to get you out of the instant trouble by providing necessary financial assistance. 

However the lender while even providing you with payday loans no faxing is no angel. They are commercial people and have approached you with the sole motive of making profit and not helping you. This is in fact one of the major complaints against the system of pay day loans that they try to exploit the financial hardships of the client for profit motives.

Particularly, the poorer sectors of the society are the target groups since they are the people who may require such instant cash assistance more than anyone else.  But the exorbitantly high rates attached to the loans far outweigh the advantages of having easy and faster no faxing payday loans. The high interest rates are likely to trap innocent borrowers into a debt cycle and they may be forced to renew their loans repetitively in order to thwart the financial crisis they may be facing.

Moreover, the pay day loans seem to be unfair for the poorer sectors. The middle class people can limit their interest to only 25% with the credit cards while the minimum interest rates paid by the poor people come to 390%.