The Huffington Post broke this story about an outpouring of praise in the blogosphere for the online payday lending site – paydayloansmania.com. It turns out that the bloggers were paid by the company IZEA, to promote the payday lending site in what is known as a viral marketing scheme. (hat tip: Evan Goldman)

From one paid blogger:

In life, you can’t tell what will happen next. Sometimes, you have the abundance and sometimes you just have enough. But what if there are times when you are in need of some finances but seems it’s so hard for you to borrow or ask financial help from friends and families? How would you solve your instantaneous financial needs?

Okay, if you are hopeless on where you can find somebody to lend you a hand in times of your urgent monetary needs, the answer to that is Quick Payday Loan. Yes, you hear it right, it’s quick. And this means hassle free and your application will be approved instantly. Others will call it No Fax Loans, since you don’t need submit anything.

Do you want to know what company is offering this type of loan? Well, Payday Loans Mania is one of those trusted company for this. All you need to do is just visit them online at PaydayLoansMania.com and complete the payday loan application. Aside from the hassle free payday loan service that they are offering, their service doesn’t have hidden fees.

IZEA probably should have spent a little extra money to hire a good editor (“Sometimes, you have the abundance…”). Grammar issues aside, does paydayloansmania.com really sound like a “trusted company.” According to the Huffington Post, even a spokesperson for the payday lending industry’s own trade group refers to online lending as the “Wild West.”  Not exactly a ringing endorsement. The scary thing is that these online lenders can maneuver around even the toughest state laws and are nearly impossible to track. Short of a federal interest rate cap, I doubt there is much of a way to regulate these fly-by-night websites.