Payday loans are a vicious cycle. Many people go to a payday loan center for a quick bit of cash because they can't make ends meet. Then, when their next paycheck goes to paying the loan, and they can't out of this debt cycle, which has been designed specifically to get them hooked.
Here's how it happens: You take out a small loan of just a few hundred bucks. Then, you get roped into $55 fees every other week -- just so you could get some extra cash to buy groceries, pay rent and pay for gas. It soon becomes a vicious cycle, the fees you had to pay in order to get out of your first payday loan add up and the next pay cycle, you can't make ends meet again.
Payday loan debt can get so bad that the only hope for someone is bankruptcy, but other options could be available. Maybe all you need is a little bit of credit and debt counseling to learn the tools you need to get back on financial track. Maybe you just need a new, more realistic budget.
If, despite all of your best efforts, you still can't get out of your payday loan problems, then you may want to consider Chapter 7 or Chapter 13 bankruptcy proceedings. In fact, payday loans are treated like cheap credit card debt in the average bankruptcy process, meaning it's some of the easiest debt to resolve in a lot of cases. That said, you will need to get approved for your bankruptcy, and you'll also need to navigate your bankruptcy process in a legally appropriate manner.