If you're unable to meet your financial obligations, you have options. Which option or options you choose will depend on how severe your financial problems are and what resources you have. You should, however, act now. Delaying action could lead to further difficulties, including potential damage to your credit history, or even the possible loss of your home.
If you've lost income temporarily due to unemployment, reduced hours, separation or divorce, death of your spouse, or illness or injury, you may be able to survive for a period of time by collecting unemployment compensation, government assistance, or insurance, or by making lifestyle adjustments.
If overspending and mounting debts are a problem, you'll need to get your spending under control. You may want to consult a credit counselor to help you deal with creditors, reduce debt, and learn to manage your money better. And, if you can't get back on your financial feet again, either alone or with help, you may need to consider filing personal bankruptcy.