A Fish out of Water is episode 10 of family guy season 03. It was originally aired on September 19, 2001.
When Peter decides to become a fisherman, he takes out a large loan to buy a fishing boat and unwittingly gives up everything he owns as collateral. Faced with losing the family home, Peter resorts to desperate measures to get the money and hunts down a famous man-eating fish for the reward money. Meanwhile, Lois and Meg hit the beach for Spring Break.