Most adults will eventually find themselves in a situation where they are in debt. Ideally, you’d want to avoid making debt, but that is impossible for most working adults. The best way to ensure that it doesn’t become overwhelming is to manage it correctly and plan ahead. Never make more debt than your budget will allow and always plan ahead.
If you’re in trouble, it would be best to be upfront with the people you owe money. Tell them that you are in debt and arrange an agreement where you pay less until you can afford to pay more. They will appreciate this more than you writing them bad checks. Besides that, it will be extremely bad for your reputation if they have to use bad check collection to get their money. Doing something like writing a bad check will also make them less sympathetic to your plight since you wasted their time. Put away your pride and be honest as soon as you see you’re in trouble.
A wise man once said that poor people become poor by living like they are rich while rich people become rich by living like they are poor. While this is a hyperbole, it is still something to keep in mind. If you are in debt you will have to forgo luxuries. Spend what is left after saving, not the other way around. Living by this principal prevents debt from becoming overwhelming in the first place.
If your situation is truly overwhelming, consider getting debt counselling. These counsellors will be able to help you plan a way out and give you advice about the road ahead. Just having peace of mind and less stress will already help your situation.
Once you’ve dug yourself out of debt try to maintain a good credit record. You’ll thank yourself for it in the future.