As the dow tumbles, and an economy is in crisis, people are concerned.

"I think we are in dire straits right now. It is going to be a lot worse than people think," said Joe DiMaria.

And while some people are pulling their money out of wall street, others stay the course. Some people are very concerned about credit. These days, your credit score is more important than ever. It may need to be higher when you buy a home or get a mortgage. At Consumer Credit Counseling services of Buffalo. they are getting more questions right now. Some are from people who want to make sure they don't end up in financial hot water. This is how you do.

"You get overextended. You find for two or three months you don't pay at all. Pretty soon it starts to impact on your credit rating," said Paul Atkinson, the President of Consumer Credit Counseling Service of Buffalo.

Then credit can get out of control, when you simply can't pay your bill. Admission if the first step toward recovery.

"You need to put a real picture to it and take a look at it in black and white, and realize the numbers do not look good," said Atkinson.

Make sure the creditors know that you are aware of your situation.

"It will keep them from immediately assuming that you don't want to pay it off," said Atkinson.

Brian Downing, who helps repair credit, stresses the importance of having good credit right now because of the economy, so know where you stand.

"80 percent of the credit scores in America have some type of error, and it is not due to the consumer," said Brian Downing of MStarloan.com

Banks and other card issuers are going after money sooner because delinquencies are on the rise, and more are offering special 'workout programs.' Some leading issuers who were contacted say there are a range of plans from reducing interest rates to waiving fees, restructuring payments to online financial help. Even debt settlement in some cases.

"Any collection account that you have right now can be negotiated. Sometimes you can negotiate them down 60 to 70 percent of the original amount," added Downing.

Negotiated amounts can be noted on your credit report and harm your rating. But always remember, there are ways to make sure you never get there in the first place. Know your means, live within your budget, pay your bills on time.

"Any credit cards that you have right now that have a balance, or have a high line of credit of ten thousand, you want to keep those below 5 thousand, below 50 percent of available credit out there," added Downing.

For more information, here are some websites.
www.ftc.gov