Here's some news that makes you ponder the role of payday advance loans in society: 

The Federal Reserve reported Friday that non-mortgage consumer debt rose at a seasonally adjusted annual rate of 2.6 percent in August, slowing from July's 4.3 percent.

It was the slowest growth since March, when borrowing declined. Thus, the question remains:

• Does this mean individuals need to use no faxing payday loans more often? Or do they contribute to the problem?

It varies.

Borrowing on credit cards and other revolving accounts rose at an annualized rate of 4.2 percent, down from 4.7 in July. But borrowing for automobiles and similar loans rose in August at an annual rate of only 1.6 percent, well below July's 4.1 percent.

The report did not specifically refer to cash loans online.

Such widespread fiscal problems were largely blamed on gas prices. Total consumer debt (excluding mortgages) rose to an all-time high of $2.35 trillion in August, the Fed reported, even though the rate of increase declined.

If you find yourself in debt such as this, at least read up on bad credit payday loans before making a decision. 

Why would you consider a faxless payday loan? Because you've fallen behind on credit card payments, perhaps.

The American Bankers Association, in its quarterly survey of consumer loans, reported Wednesday that the percentage of credit card payments 30 or more days past due increased to 4.41 percent in the April-to-June quarter, up slightly from 4.40 percent during the January-March period.

"High gas prices and Federal Reserve interest-rate hikes have left consumers with less money in their pockets," said James Chessen, the association's chief economist, in explaining the increase in late payments in the second quarter.

This, of course, is what makes a payday advance so appealing: you can receive cash in your pocket quickly.

Since earlier in the year, gasoline and other energy prices have dropped and the Fed has halted its rate-raising campaign. The central bank last week decided for the second straight meeting to hold rates steady - a move that gives borrowers some more breathing room.

"The financial squeeze may ease a bit in the third quarter as the Fed has stopped raising rates and prices at the pump are down more than 17 percent since the end of June," Chessen said.

The survey is based on a poll of banks and did not specifically mention the use of no faxing payday loans.

The survey also showed that the delinquency rate on a composite of other types of consumer loans, including auto and certain home equity loans, climbed to 1.96 percent in the second quarter, from 1.94 percent in the first quarter.

The cooling of the once-hot housing market, meanwhile, has important implications on consumers and the overall economy, Chessen said.

Consumers who watched their homes rise rapidly in value over the last several years were inclined to spend and borrow against their homes - treating them like ATMs - to support their spending ways. But home prices have since lost altitude.

This, again, leaves the door open for people to consider cash advance payday loan use.

The National Association of Realtors reported Monday that the annual price of existing homes declined in August for the first time in more than a decade.

"Up until now, rising home values have increased wealth, been a source of liquidity for borrowers and allowed consumers to spend out of savings," Chessen said. "It's a different world now, and consumers will need to be more careful in managing their finances."

Not everyone is taken the pressing consumer debt problems in the country sitting down.

Ok, well, Scott Tucker may be sitting down when he aims his wrath at payday advance lenders - but he's doing it in front of his website, fromdebttosavings.com.

Tucker is aware that Americans today owe well over $2 trillion in debt - yes, that's trillion and, yes, the figure is constantly on the rise. Tucker believes not enough is being done about credit card and faxless payday loan providers.

He says fiscal problems are" because of the cynical and unfair practices of unscrupulous lenders, which are for the most part the banks and credit card companies … Credit companies make the most of their profits from so- called 'bad-debt' or 'high-risk' debtors - the lower your credit score the more they treat you as a risk, unfairly discriminating against you by assuming you will not keep up with your payments."

Tucker's stance reveals an alarming development that should concern all Americans, while uncovering a hidden dark side to these lending institutions.
Yet what makes the situation even more disturbing is the fact that these cynical practices target the people who can least afford to pay, and draws them unwittingly even deeper into a downward spiral of debt. That's the main critique of no fax payday loans across the boad.

"This," said Tucker, "is something that affects all Americans everywhere, because it's what's driving us to recession. It's not your fault if you fell for the lies and deceit of these 'fat cats.' And the quicker we get out of the cash-flow crunch, the quicker we'll help ourselves as individuals and get the wider economy back on track."

Tucker said he put together his website "to give the blameless victims of the predatory lenders a fighting chance to break free of debt."

It's an admirable goal. Of course, some cash loan lenders really do help the poor. So it's important to make a distinction.

Across the nation, consumer debt is rising. It's growing at a faster pace this year than at any time between 2001 and 2005. 

While it may be tempting to blame an outbreak of faxless payday loan applications for this problem, cash advances alone cannot explain why American debt increased at a seasonally adjusted annualized rate of 5.7 percent in June. Our debt is growing twice as fast as our economy.

It's occurring despite a quintupling of rates by the Federal Reserve Board. What gives?

According to The Knoxville News Sentinal, the lending standards of many financial institutions are at fault - and the newspaper is NOT talking about predatory payday advance lending.

The head of an industry-specific lending division of a major regional bank recently explained that his competitors had lowered the amount of collateral they required borrowers to put up or were eliminating certain loan guarantees. The result?

A price war among competing banks; proof that online payday loan providers certainly aren't the only shady lenders out there. The above maneuver also provided credit to borrowers who, only a few years ago, would not have qualified for these loans.

In the current interest-rate environment, the profitability of bank lending typically declines. One reason is that the spread shrinks between banks' cost of funds and the rates they can charge borrowers. Yet with the recent exception of mortgage activity, bank-loan profits remain high - and are still increasing. How?

Because of an increase in loans. If your margins decline, you're tempted to make it up with more volume. And if the pressure to increase quarterly earnings is great enough, you increase your lending volumes by dipping down to a lower-quality borrower.

In other words, banks aren't helping their clients very much. They're often making financial matters worse. With all the negative attention providers of no fax payday loans receive, critics may also wish to take a close look at banking activity.

Young women may be falling into debt and considering payday loans these days, but they aren't the only ones. 

Consumer borrowing unexpectedly shot up in June as Americans used credit cards to finance more of their purchases, a Federal Reserve report stated Monday.

Non-mortgage loans to individuals rose $10.3 billion to $2.19 trillion, following a revised $5.89-billion increase in May. This would include approvals on resources such as faxless payday loans. The two-month gain was the biggest since September-October 2004.

Americans are relying more on credit card debt because rising interest rates and a cooling housing market make it harder for them to take out home equity loans. Higher gas prices are also prompting consumers to borrow more, economists said.

People almost need a payday loan online in order to fill up. Seriously. 

"The jump in consumer credit coming at a time when consumers are hard hit by soaring gasoline costs could indicate some financial woes on the part of borrowers," said Chris Rupkey, an economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. "It looks as if consumers are relying more on credit cards now that other avenues of credit such as mortgage refinancing have been shut off to them."

Revolving debt, such as credit cards and cash loans, increased by $6.65 billion in June, after rising $7.42 billion in May. Non-revolving debt, such as loans to buy cars and mobile homes, rose by $3.62 billion in June after declining $1.54 billion a month earlier.

Overall, U.S. consumer debt rose at an annual rate of 5.7% in June.

Does Alicia Ingram need a faxless payday loan? She's only 22 years old, but she's already $27,000 in debt.

When Ingram graduates from Georgia State University this fall, her entry into adult life will begin with a slow crawl from student loans to solvency.

"I feel like that kind of hinders everything - where I'm going to live, how I'm going to live," says Ingram, who has delayed plans to attend graduate school. "It's having this burden of dishing out this money for something that I really hadn't expected."

Ingram is far from alone. Nationwide, those just graduating from college are surprised to find that early debts can have a far-reaching impact on the quality of their lives. As a result, quick payday loan use becomes more prominent in hopes of a fast fix.

Experts say this is especially the case for young women. Debt in America is nothing new. lds was $3,989 (in 2001 dollars). According to Tamara Draut, author of Strapped: Why America's 20- and 30-Somethings Can't Get Ahead, the trouble often begins with student loans. As females enter the workforce - making less money than their male counterparts - they may have to turn to payday advances to balance student loan payments with burgeoning social lives.

"These are such no-win scenarios," said Mary Ellen Garrett, first vice president of the Garrett Group, an Atlanta financial advisory team. "Debt is a phenomenon right now that is sweeping in droves, and I'm seeing it more in women than in men. Their biggest question is 'How do I get out of this?'"

The groundwork for debt may be laid in college or even earlier. Draut says the country's "debt for diploma" system has made borrowing one's way through college the norm.

"A generation ago, student financial aid was grant-based; now it is debt-based," Draut said. "You could work through the summer and pay for a whole year of college. That's not the reality anymore."

Meanwhile, more women are attending college than ever - they made up 56 percent of undergrads in 2000, according to the U.S. Department of Education. Subsequently, more women are graduating with student loan debt, an average of $19,360 in 2004, based on data from the Project on Student Debt, a nonprofit organization dedicated to finding cost-effective solutions to expand educational opportunity.

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Due to student loans and a lack of credit, you'd think young consumer were most at risk for falling into debt. These individuals are not familiar with online payday loans, either; they're more likely to not understand such interest rates.

And, don't get us wrong, this age group does fall into debt. However, recent information from abroad makes it apparent that UK consumers in their 50s are increasingly struggling with credit card debt. A government report published today warned that the number of insolvencies in England is likely to rise as this trend continues.

The Consumer Credit Counselling Service (CCCS) said that while credit card spending has slowed over the past 12 months, people aged 53 and above are the only age group still increasing their spending on plastic. No information was made public about the tendeny of these individuals to apply for cash loans of any kind.

The proportion of people between the ages of 53 and 59 seeking help from the above group has risen to 23% of the total, up from 19% in 2003. These over 53s now have the biggest outstanding credit card debt in the nation, while those in their 60s have increased their credit card borrowing by one third between 2004 and 2005.

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As the levels of consumer debt rise in America, it's apparent individuals need assistance. Sometimes, payday loans are the answer - as long as you understand how their interest rates work.

Over at MSN.com, however, a column talks about steps toward total financial control. We've paraphrased it below. Take the advice of this expert, take out a faxless payday loan … but just do SOMEthing about those rising bills!

Cut Up Your Credit Card Bills: The First Law of Money Dynamics states that if you have plastic you will use plastic. Therefore, you'd be well-advised to stop carrying anything but a debit card and leaving the credit cards at home.

Get real: People seem to believe their money problems will be solved by someone or something else, somewhere down the line. So let's get one thing straight: You're not going to win the lottery or marry the Sultan of Brunei. That's why applying for an instant payday loan is at least some sort of move in an active direction.

Get over it: Start a spending plan. Budgets can be tricky, so for 2006 implement the simpler 60% Solution. This entails keeping your committed expenses to 60% of your gross income. It's challenging, but worth it in the end.

Set up separate accounts for saving: You can actually set up TWO extra savings accounts: one for short-term, one for long-term. It doesn't cost a dime to do so. This is where the idea of a savings account payday loan came from.

Make saving automatic: Pick up the phone and arrange for automatic transfer forms to be express-mailed to your home or office. This way, 10% is transferred to your new short-term savings account with every single paycheck. If you can't manage 10%, start with 5% and build up to it.

The idea of all these steps is to offer an alternative to online payday loans that helps you lower balances. Good luck!

As the Navy continues its push against military payday loans, it should be encouraged by the success of Pioner Services in helping clients this year.

The company saw the effects that such bad credit payday loans can have and set a goal to save military families $100 million in high-cost, predatory debt by providing educational opportunities and services that help service members break the financial debt cycle.

This week, Pioneer Financial Services announced that they've already reached the half-way point in that campaign, achieving more than $50 million in documented savings for service members and their families.

"To date, Pioneer Services Representatives have certified more than 17,000 military families in our 'Break the Debt Cycle' program," said Tom Holcom, president of Pioneer Financial Services Inc. "Part of the certification process is showing these families ways to break out of debt and work toward financial independence."

Amen. The savings are documented through the instant payday loan application process and meticulously recorded. As each service member reduces the amount of interest he or she will pay on credit cards, payday loans, and other high interest debt with the help of a debt management loan, the numbers are added to a detailed spreadsheet.

Pioneer Services Representatives expect to report $100 million in savings by the end of the year.

"We have helped thousands of families work on improving their credit scores and monitoring for identity theft. But the real excitement begins when they choose to enter their current debts into a series of financial calculators and learn they can save hundreds or thousands of dollars," said Holcom. "And every dollar a military family saves is a dollar they can add to a Thrift Savings Plan, a savings account, or use for everyday needs. All that matters is that they're able to focus on their duties, rather than on their finances."

That's the main trouble with a military payday loan. Yes, it causes fiscal hardship, or can. But it can also affect the readiness of those about to go into battle.

More than a third of the UK population is 30 days away or fewer from financial crisis, according to new research from Prudential.

The life and pensions provider conducted a study into British employment and financial planning, and found that an alarming number of working residents admit to having little or no savings. Sufficiently covering expenses, should they stop working, is very unlikely for many British citizens.

This means that they are effectively living from payday to monthly payday with little to no buffer. Is a surge in payday loans far off?

One in 10 working adults, equivalent to 2.9 million people, said they were concerned about their financial future, fearing their jobs were in imminent danger. Job insecurity is increasingly becoming a worry for the population as unemployment levels are at four-year highs.

"No-one likes to think that they could get a severe illness or lose their job, but what if the unthinkable happened? Without any savings or protection, many people put themselves in a vulnerable position," said Angus Maciver, Business Director of Insurance at Prudential UK.

In fact, 30 percent of respondents said that they had no insurance to cover job loss or redundancy. Only 1 in 10 said that they could cover periods without employment. That makes British citizens prime target for online payday loan solicitations in the event that they come up short on cash at a critical period.

The problems of rising consumer debt have been well reported, and this could be one reason for the widening savings gap. Many banks highlight a rise in personal bankruptcy in their results as customers struggle to meet repayments on credit card and personal loans.

The findings come weeks after Prudential released the results of its six-monthly Retirement Index, which discovered one in four pensioners, more than 2.7 million people, did not have sufficient income to cover all of their financial commitments. Working Britons must take adequate steps to ensure their future.

"We urge people to contact a financial adviser to plan their finances, in order to achieve their everyday financial aspirations," Maciver said.

Prudential believes the answer lies in overall financial awareness, but also in life insurance products, such as its Flexible Protection Plan. Customers can use the plan to help to cover mortgages and provide general financial support in the event of illness or death.