subject: Bankruptcy Information and How to Avoid Debt [print this page] A lot of people have debt today, but that doesn't mean it has to lead to bankruptcy. Instead, there are some important steps you can take today so that you can get yourself out of debt and back on track with your finances. Remember to take care of your priority debts first. You may not have much left over to offer the non-priority debts, but you should still talk to those creditors and tell them your situation.