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Credit Counseling Agencies Offer Useful Tips to Help Consumers Weather...

Mortgages and personal loans are harder for some consumers to secure. People are losing money in the stock market. More people are being turned down for credit cards, or having available limits on existing credit cards decreased unexpectedly. Formerly-inflated home values are coming down, leaving homeowners with less equity and borrowing power, and large debts. The credit crunch is affecting U.S. consumers in a variety of ways, and providers of CareOne Credit Counseling Services (http://www.careonecredit.com) aim to help them with a collection of free tips released on how families and individuals can survive the credit crisis by making even small changes.

Many people have come to rely on credit cards and other lines of credit, either as their primary emergency funding or even for routine purchases, says CareOne Credit Counseling Services Spokesperson Clarky Davis. The best thing anyone can do to alleviate the stress of the current credit crunch is to decrease their reliance on that credit as much as possible. Our tips are designed to help them do just that.

Agencies providing CareOne Credit Counseling Services urge consumers to consider the following tips to decrease their debts and lessen their personal burden during a sometimes tough economy:

1. Set a Budget (http://www.careonecredit.com/Tools/BudgetPlanner.aspx) - It'ss difficult for someone to decrease debt and live more within their means if they aren'st fully aware of where their money is currently going. Setting a family budget allows people to keep track of where the finances are being allocated, and exercise more control over spending and paying down debts. A budget also enables people to set aside money for savings, such as by creating an emergency fund or savings fund for large purchases that may otherwise rely on credit cards or loans.

2. Continue to Save Money (http://www.careonecredit.com/Knowledge/101WaystoTrimYourBudget.aspx) - Small changes may be all that'ss necessary for many consumers to save money on regular purchases. Anything from carpooling with co-workers to save on fuel costs to looking for deals when shopping can put extra money in someone'ss pocket that can further pay down debts. During this time of year, it'ss especially important to look for ways to save money on energy costs, such as by turning down the thermostat a few degrees or insulating windows and other drafty areas in the home.

3. Reduce Credit Card Debt Faster (http://www.careonecredit.com/Knowledge/reduce-credit-card-debt.aspx) - Paying the minimum monthly payments on credit card debts can actually cost consumers more money in extra interest over time. Ideally, a cardholder should pay off all credit card balances in full each month, living within their means (not spending more than they can afford to pay back, using cards strictly for their convenience or added benefits). With the risk of decreased credit limits in the current economy, it'ss also wiser for consumers to keep an available balance in excess of what they think they may need to actually use, ensuring they'sll have access to adequate funds when needed.

4. Verify Credit Report Accuracy (http://www.careonecredit.com/Knowledge/Article.aspxarticle=135) - With it becoming more difficult for some people to get new lines of credit, and others suffering adverse reactions like decreased limits on existing lines, it'ss more important than ever for everyone to view a copy of their credit report and verify that all information is correct. This alerts the consumer of any potential identity theft or other errors that could make it difficult to secure financing in the future for a home, education costs, or other large expenses.

Consumers have the power to pull through the credit crunch, and even small changes can make a large difference in decreasing debt, increasing savings, and ensuring a more secure financial future.

About CareOne Credit Counseling Services

CareOne Credit Counseling Services is a service mark of 3C Incorporated. CareOne agencies are industry leaders committed to providing consumers with education and debt management services related to improving and maintaining their financial health. CareOne agencies have helped over 4.5 million people pay down debts through their solid relationships with over 220,000 creditors.

For more information about CareOne Credit Counseling Services, please visit www.CareOneCredit.com, or contact Clarky Davis at (410) 925-9769.

Contact:

Clarky Davis

CareOne Credit Counseling Services

8930 Stanford Blvd.

Columbia, MD 21045

Phone: (410) 925-9769

Email: cdavis @ careonecredit.com

Web: www.CareOneCredit.com

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