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I’m Falling Behind on My Other Bills to Keep My Payday Loans Current. – Rebecca

Written by Steve Rhode

“Dear Steve,

I have 2 payday loans 1 for $650 w/a local loan service and 1 for $750 with a online company.

I’m current on my payments with both (online company withdraws from my bank acct) but I’m only able to pay the minimum balance owed and I’m falling behind on all my other bills.

It seems like I’m paying with no end in site. This is troublesome for me because I am a single, working mother with 2 small children who receives no child support and to make matters even worse I work for the Federal Government and if I go to collections I’m putting my job in jeopardy and could lose my security clearance which would cost me everything.

The interest for these loans are 100%. I don’t know who to trust but I need help fast. I have worked hard for what we have and I’m in desperate need of some guidance. I got the internet loan to help with Christmas against my better judgement.

Please help


Dear Rebecca,

Actually your assumptions about the security clearance are only somewhat true. It is true that if you fall behind on your financial obligations or are maxed out it can negatively impact your security clearance.

However, if your debts have become unmanageable and unaffordable and you can’t make ends meet anymore than you might have to consider bankruptcy to clean the slate and get back to living within your means. Read this post for more information on security clearance and bankruptcy.

You can click here to find a local bankruptcy attorney who can talk to you for free.

Your only other real option would be to talk to the payday loan companies and see if they offer an Extended Payment Program (EPP) to allow you to repay the loans under special terms.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

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Then use the free How to Get Out of Debt Calculator to review your options.

Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.

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.

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.

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