You may be one of the thousands of people who’ve taken out a payday loan.

It’s an industry that rakes in billions every year from borrowers across the nation.

Tuesday, South Carolina lawmakers debated new regulations that would affect how you get that money or if you can get it at all.

Since 2001, both Georgia and North Carolina have already banned the businesses all together.

News 2 producer, Heather Olinger, is caught in the endless payday loan cycle. She talked to the Problem Solver Team about her problems to help others avoid a payday pitfall.

She needed money to make ends meet and went to a payday lender. She now feels as though she is stuck and has to take out further payday loans to keep up with high interest rates.

The Problem Solver financial expert, Dorothea Bernique, says before locking into payday lenders you should always explore every other option.

Bernique says to let family members know what your financial problems are. Swallowing your pride and asking for their help could save you a great deal of financial heartache.

She says you should also go to a credit union and ask them about a small loan. They often have $500 loans with small interest rates.

You should also look around your home and decide what you can sell off. Selling some of the extras may be just enough to keep you ahead of your bills until your next paycheck.

Click the Video Tab to see that story.

Below are the links to each of the 12 bills in the State Senate and House involving Payday Loans.

http://www.scstatehouse.gov/sess118_2009-2010/bills/3301.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3035.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3050.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3048.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3056.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3157.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/3159.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/15.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/47.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/87.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/113.htm

http://www.scstatehouse.gov/sess118_2009-2010/bills/112.htm