Get Out of Debt Guy - Steve Rhode

How Do I Get Out of the Payday Loan Trap? – Gail



“Dear Steve,

I have 5 payday loans.

How do i get out of this trap


Dear Gail,

The best way to avoid problems with payday loans is to not take them out in the first place.

While a short-term loan can be used wisely and successfully, the minute you start taking out additional loans before you’ve satisfied the first you are asking for trouble. Trouble just like you are in right now.

Payday loan outfits don’t generally play nice with credit counseling programs so that leaves you with bankruptcy as the only legal way to nuke your payday loan debt outside of paying it off in full.