Isabella’s Story

By Kaitlyn Szabo November 7, 2018

Isabella* was caught in the precarious financial position of supporting both her children and her extended family. Then, she was hit hard following a minor car accident and a reduction in hours at work. The income loss and spike in expenses drained an already tight budget dry.

Since her family was not able to fully help her financially, she turned to a payday lender. She read the paperwork and was astonished at how expensive it was, yet at the time, she felt it was her only option.

She signed the dotted line. Then, the weight of her decision – and her newly acquired debt – began to take its toll, straining her financial woes further instead of alleviating them.

The payday loan crushed her, eroding her physical and spiritual well-being. She felt guilty for taking it despite knowing the costs, and could not see a way out. “I’m not gonna get out of the hole.”

Despite spending months only paying interest, she never felt alone. Her faith and her family anchored her. “I feel depressed and kind of miserable, but not isolated. I’ve got my family support… I feel blessed about that.”

Our refinancing program complemented the support she already had, as it allowed her to break the payday loan cycle. For her, working with Exodus Lending has been “wonderful,” thanks in large part to the helpful and supportive staff.

Since enrolling in Exodus Lending, Isabella has also learned the importance of saving money. “I can get money from my savings account and I don’t have to [look] for loans or borrow money from someone else.”

With the burden payday loan debt no longer dragging her down, she can now envision a future without any debt – just thinking about it lifts her spirits and leaves her feeling “very light… like a feather.”

 

*Name has been changed for confidentiality