All debts are not created equal. Learn which are most important.

Some debts are more important than others. If you are having trouble paying your bills, take the time to prioritize your debts. Make a list of essential and nonessential debts -- and always pay the essential debts first. Read on to learn which debts are essential and which aren't.

Rent or mortgage. Unless you know you are going to move and have a place to live, make paying your rent a top priority.

If you own your house, and you've lost your job or had another financial setback, be realistic about whether you can afford to stay in your home. You might be better off selling your home, renting a moderately priced place, and using what's left over to pay your other essential bills. But carefully consider the pros and cons before you sell your house. In today's housing market, your house may be worth more in a year than it is today. You may get more for your house if you sell it later on, giving you more money to pay your creditors.

Child support. Not paying child support can land you in jail, unless you convince the judge that you really couldn't pay.

Utility bills. Being without gas, electricity, heating, water, or a telephone is not safe -- put these bills near the top of your list.

Car payments. If you need your car to keep your job, make the payments. If you don't, consider selling it or voluntarily turning it over to avoid repossession. You may be able to use any leftover money to buy a cheaper car.

Other secured loans. A debt is secured if a specific item of property (called collateral) is used to guarantee repayment of the debt. If you don't repay the debt, most states let the creditor take the property without first suing you and getting a court judgment. If the property is something you cannot live without, you'll need to keep payments on that debt current.