Pay day loan has put my credit terrible

You really shouldn't consider bankruptcy as your first option, it should really be your last. Have you considered a debt settlement company perhaps? What state do you live in? Are you just dealing with payday loans or do you have payday loans as well as other creditors at this time? If you are dealing with just payday lenders, you have many options available that don't require you to file bankruptcy. Can you give us some more information to help you?

Bankruptcy would stop the harrassment, but it's not an instant process and it does a take a long time to repair your credit afterwards.

I have to second joshua's comment on bankruptcy - please don't take that step only because you can't afford your payments right now. It's a very long-term process (especially in the case of a Ch. 13) and has a lasting affect on your credit.

If you can provide us some details about the type of debt you have, we might be able to offer some helpful advice. But please, please don't file bankruptcy without serious consideration - it's a major, life-changing event.

If I'm not mistaken, you said your debt in the thread title was due to a Payday Loan? If true, PDL companies don't report to credit bureaus, just teletrack, so chances are your credit wouldn't be affected due to PDL's alone.