Workers at Consumer Credit Counseling Services say they are noticing changes in the number of people dealing with horrible debt, which many times leads to bankruptcy.
These days they tell us they're seeing big decreases thanks to the payday loan changes that began January First.
"During bankruptcy classes I'd say 'how many have fallen into the payday loan?' and I had probably three, four or five people raise their hand all the time and now I'm asking that and there is nobody," Credit Counselor Sandi Paradiso said.
Unlike six months ago, new payday loan regulations give people 15 extra days to pay the loan back. They also cut off the number of loans people can take out. It was once unlimited, but now, borrowers are cut off at 8 per-year.
With the new cap and an extended payback period, credit counselors say they expect to see things continue to get better for those who were once spiraling into debt.