According to a recent survey, it is expected that around 1 million people are likely to apply for payday loans this year. This is almost 20% higher than the figure of 2010. The reason is simply the fact that most people who took out payday loans last year are expected to take out the same loans again just to pay off the previous year’s loan. Borrowers are feeling comfortable about receiving these loans online as they find it very easy to apply and get cash fast without much paper work involved. But it is advised that before agreeing to anything you should carefully read the terms and conditions for the loan as well as questions about the payment terms or if there are any hidden charges. This is one of the biggest reasons why people end up in debt spiral for longer than they have planned because of the potential rollovers whereby they are unable to pay the loan off due to the high interest rates. Most of the people end up repetitively getting loans just because of their ignorance or they didn’t read between the lines at the time of signing the agreement. The new laws require the direct loan lending agreement to clearly make transparent all fees and charges associated with the loan and all of the terms and conditions clearly spelled out, including how long the borrower has to pay back the loan etc. Borrowers should also be given a copy of the contract they sign for future reference. For more information on finding reputable direct lenders, visit http://fastcashadvancepaydayloans.com