In the developing world, people are blindly turning to payday loans. This is a relatively new concept brought to them by people who have been exposed to payday loans in developed countries. In developing countries, well to most people, the thought of easy money is very alluring, especially when you think of all the beauracracy, and inconvenience of getting a loan through mainstream lenders. Like with every good thing out there, when things are done without seeking advice from the experts, the long term effect or consequences can be almost disastrous. Consider someone who sees an advertisement in the newspaper for payday loans, but when you get there, the unscrupulous dealer is asking that you surrender your car registration or your land deed, just until you payback the money.