Following these rules becomes even more important when you lose your job.
The first and the most important rule that you must follow is not to panic.
It is easy to think in terms of years and hundreds and thousands of dollars of debt when you are not earning anything.
The truth is that you can easily solve all your debt problems without opting for any long term damaging option like bankruptcy.
However, all this is possible only if you remain cool and calm.
If you have checked out various debt relief options in the past, this information will prove very beneficial.
If you have not thought of debt relief at any point of time in the past and if you are completely unaware of what it involves, then you can take reassurance of fact that you are not alone.
There are many other individuals who are facing the same problem as yours.
You should take heart from the fact that you quickly determined that your debts may cause a problem.
Once you have the list of debts in your hand, it is time to move into decision taking mode.
For that, you will need adequate data in your hand.
Simply knowing how much you owe to various lenders is not going to suffice.
You should also know which lenders charge high interest and which can be converted into secured ones.
Which lenders are more likely to opt for debt collection option and which lenders might directly approach the Court.
If you do not know how to proceed, you should make use of the World Wide Web.
If you will find answers all these questions online for free.
Online forums will probably tell you that credit card issuers hand over the debts to collection agencies the quickest.
This is because it is an unsecured debt.
On the other hand, your secured debt probably will give you some more leeway to operate.
Once you have a list of debts in your hand, it is time to understand it better.
Once you have completed this process as well, you can start talking in terms of the actual debt relief option that you must choose.
Remember that if you break up the process in two different stages, you will find it easier to handle and easier to concentrate.