Sometimes it happens. Even when you truly try to manage your money well, you find yourself in a situation where you can't pay all your bills. Perhaps you've lost your job. Or maybe you've had some emergency expenses.

Don't panic.

Things may seem rough, but there are ways of handling the problem. There are things you can do immediately to limit the damage. You can also restructure your debt with the help of Credit Counselors.

Or, as a last resort, you can declare bankruptcy.