Top tips for managing your debt

NEW YORK (CNN) - If you've recently found yourself with a pink slip, you might find yourself struggling to manage all of your debt. Here are some debt management tips you can try while looking for a job.

First, your number one job is protecting the roof over your head. Call your lender and explain what happened before you miss any payments. Lenders are putting together plans to help borrowers in danger of defaulting.

Next, you really need to prioritize your bills. Concentrate on paying for the necessities, like food, shelter, utilities first.

After all of that, concentrate on paying the minimums on your credit card to avoid damaging your credit.

But be sure to call your credit card companies and let them know your situation. Creditors may agree to ease loan terms for people who are trying to survive a jobless stint.

If you have kids in college you may be able to amend your FAFSA to get more student loan aid. Remember the FAFSA is the document you filled out to get student aid in the first place. Make sure you have documents that support your job loss like a pink slip. Go to the financial aid office and ask for a professional judgment review. It's up to the school whether or not to extend more aid, but it can't hurt to ask.