Everyone gets behind their bill payments at one (or more) points in their life. So what do you do if you find it difficult to pay your bills? Here are some pointers to consider:

First and foremost, acknowledge to yourself that you DO have unpaid bills. If you just leave them lying around (or hidden under the couch) won’t make the problem go away. So whatever you do, don’t ignore the bills. Start planning on how to complete your payment and act on those plans.

Next, find out how much money you have and how much you actually owe. You can use a pre-printed personal financial balance sheet or you can just list down on paper your assets and liabilities. Once you know how much you owe, you can now think of a strategy to pay off your debt. Find out how much you can pay for each bill so at least you can pay the minimum charged amount. But beware of debt consolidation plans because often they are just temporary fixes. They won’t make your debt go away.

Talk with your creditors and be honest about your situation. Find out how they can help you. You can present them your plan. Let them know that you are actively looking for a solution. You’ll find out that these people can be very reasonable and very quite willing to help. But don’t forget to get in writing whatever agreement you reach upon.

Once you’ve started on your strategy, keep track of your credit. Make sure that everything is documented correctly. Remember to not let your insurance policies lapse as they still offer protection.