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I’m At the End of My Rope and In Debt to Payday Loans Again. – Nicey

“Dear Steve,

I am at the end of my rope Steve. My finaces are out of the roof. Payday loans have once again become a part of my vocabulary, where I once promised myself I would never do it again, becuase of previous payday loan trouble. So I am back into the trap where I cant go without the payday loans.

We have extended ourselves for the household in which we live in by paying for the utilities, groceries and etc.

How can my family stop the payday loan cycle, nsf fees and live within our means?


Dear Niecy,

Well thank you for thinking of me. I’m happy to help.

The issue here is that your current income appears to be insufficient to meet your current financial demands. Something is going to have to change to alter this equation.

I hate to state the obvious but the issues are fundamental. We either need to increase income, lower expenses, or alter the debt. The most effective way to alter the debt is to legally discharge it through bankruptcy.

But you can use the free How to Get Out of Debt Calculator to review your options.

So post a comment for me below and give me some more information about how you wandered back into this trap again. What happened that tripped you up?

And here is a bit of homework for you, check and use their online benefits check tool to see if you are eligible for any help. Any help to lessen your financial demands is a blessing.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

READ  Text of The Payday Lending Limitation Act of 2010

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


    • Ah, ok.

      I’d like for you to first find a local bankruptcy attorney that is licensed in your state and talk to them. After you talk to them, come back and give me your impression if bankruptcy is right for you.

  • I wandered back into the payday loan trap bit by bit. and it did not help when we just had a child, (two total), My debt, his lack of credit, and he got a drastic pay cut. so payday loans had to come or somethings would have gotten cut off or set back. I do believe that we have enough money to live, I know that one of the culprits in not paying our bills on time, but its defiently not living beyond our means. Right now we need a place to live becuase we are a familyof four. An attack plan would be nice so that we can update all of our bills to current status, and be able to move tress free. Thank for your response it is appreciated.

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