I Had a Rent Check Bounce, Owe the Cable Company, and Student Loans. – Tina

“Dear Steve,

Have student loan which I currently owe $1000 dollars on because I have not been able to pay it, just had a rent check bounce and owe another one right away, also owe the cable company (though this is in collections now too) ~$500. I would make enough to support myself if I could just get caught up.

I did not have to pay rent until recently and I had been helping my mother out, unfortunately that situation changed on me at a bad time, a huge cycle started from a few dollars over with the bank, they took out several overdraft fees then, and I feel like I’m in over my head now! I have been bouncing checks and overdrawing left and right just because well, for one, my bank allows this, but puts a $35 fee on it, but also, I have no other means of getting money at the moment, so I have to take advantage of the bank’s system in order to support myself.

How do I get out of this cycle? All of my money that comes is starting to go straight to very high over draft fees, the bank won’t do anything about it and seems to manipulate the funds so that they overdraft as much as possible, but at this point even when I get a paycheck, it all goes to my overdraft fees! I don’t know what to do!


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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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