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If the answer is yes, you have serious problems. You cannot pay your bills like credit cards, gas, electricity, student loans, telephone, the list seems endless. However, do not panic! You should deal with your debts. The sooner you face this problem, the easier it will be to get solved.

When you are facing problems, tell your creditors and make sure you do not ignore letters or demands. Be careful because creditors may add the costs of phone calls, written reminders and other recovery fees to the interests you are already paying.

The first things to do when facing debt problems is to know how much do you owe. For that, you should list all missed payments, loans and credit commitments and when they fall due. Some of these debts are priority because they can cause more trouble than the others can. So, to avoid that you should deal with debts first.

These priorities are:
*Rent\ mortgage areas (this can cause the loosing of your home).
Do not simply hand in the keys to the lender, because you will still be liable for the debt.
*Council tax arrears. Theses debts can land you up in court.
*Fuel debts (you could be cut off)
* Water rates community water charge (also you could be cut off)
*Second mortgage or secured loan (you could lose your home)
*Hire purchase debts. If you are having this kind of debts and you have paid less than one third, your goods could be reposed (without a court order)
*Maintenance payments (via child support agency)
*Court fines (there can be severe penalties if you do not pay these). But Do not panic. Generally, these penalties occur after warnings or court action. Nevertheless, remember to keep your creditors informed.
*than there all other debts the ones majority of Americans are faced with: Credit Card Debt and other unsecured debt like student loans

Maximize Income and create a budget.

The second thing to do is to maximize your income and create a budget. On a weekly or monthly basis, check how much money you have coming in and where it goes. If you are paying too much tax, check your tax code by contacting your local tax office. Also, check with your local benefits agency office or Citizen Advice Bureau whether there are any social security benefits you could claim.

After that, you should find out how much you spend and try to reduce the charges. Try to cut down on things like alcohol, cigarettes and eating out. In addition, you can get an extra part-time job, or sell some stuff in order to bring extra money. However, do not sell anything on which you still owe money..