Debt Management, One Answer to Your Financial Problems

I just heard on the news this morning that Washington Mutual Bank went out of business. What is happening? Big businesses are failing left and right. If these huge corporations are having financial problems, what more for regular people like us. We constantly hear in on the news these days, people are losing their properties because they cannot afford to pay their mortgages. Most of these people clearly took in a mortgage that is too big compared to what they can actually afford. Everyone is affected by this financial crisis. The news article I read mentioned that even your credit card limit might be affected by this. They reported that some consumers have already received notices from their credit card company that their limit was lowered.
This is scary especially for people with huge credit card balances or loans. One of the things you can do is go to the Personal Finance page of the United States Government website (http://www.usa.gov/Citizen/Topics/Money/Personal_Finance.shtml). This page has links to different articles that can help you start in managing your finances.
It has articles on Personal Credit Help, How to Pay Off Debt, How to Get Your Free Credit Report and Credit Information on MyMoney.gov.
You can also contact a credit counseling company like CareOneCredit.com which can help you with debt management. It is advisable to work with professionals that has a lot of experience in dealing with creditors since doing it yourself can be very daunting and complicated. They will help you in consolidating your debt, talk to creditors to lower your monthly payments and interests. You have 24/7 access to your account, receive monthly statements and have the option of electronic payments. Doing these will at the very least, help you avoid bankruptcy which will completely ruin your credit.