When times get tough many people turn to payday loans to help make ends meet. Payday loans are risky business and all too often people fall further into debt at the hands of a payday loan. I have seen people carrying mulitple payday loans, using one to pay the other. This is a slippery slope that usually spirals out of control. The good news is that payday loans are dischargeable in bankruptcy. Filing for bankruptcy can free you from the grasp of payday loan lenders and help you regain control over your finances without the need for high interest rate loans.