The $700-billion question may soon have an answer. There is word from Washington that lawmakers are agreed in principle on the huge bailout plan for US financial markets. President Bush (web|news|bio), Barack Obama (web|news|bio), John McCain (web|news|bio) and other congressional leaders met at the White House today to hammer out the deal.

Senate leaders now say they expect to have a bill to present to the President soon. The financial turmoil isn't confined to Wall Street, you can find its effect on your credit card statement. We talked to a credit counselor today. She says there are a couple of things we need to check on now, because it's more important than ever to keep track of our credit. Some numbers are going up, while others are going down and everyone is feeling it.

Ann Ronk, Senior Credit Counselor, Alliance for Families and Children - "It's the worst that I have seen it and I've worked in credit for a really long time."

Ann Ronk's office is busier than ever, with more families looking for help.

Ronk - "It's pretty bad because the interest rates are so high and some of them are living on their credit cards."

And while the interest is high, some of the limits are getting lower.

Ronk - "I've seen several come in here and they were unaware that their credit lines were lowered and they made charges and of course going over the limit fees."

Putting card holders under pressure... because banks and the credit card companies are feeling the pressure of a weakening economy. Ronk says don't use credit cards on anything that's easily consumed, like gas, groceries, or eating out.

Debbie Dateo, Lynchburg - "Oh yeah, watering down milk, I don't tell my kids that, but in the cereal, you can't tell."

Review your budget, see what you can cut out.

Cherelle Read, Lynchburg - "I've been trying to budget as best I can. I know a lot of people have taken up second jobs which is unfortunate, but it's something that you have to do to live."

And take a look at your credit report. Statistics show one in four credit reports contain a mistake, that could be enough to deny you credit.

Ann Ronk, Alliance for Families and Children Credit Counseling - "Your credit score is important because it's how you make loans and you don't want your credit to drop."

Ronk says the best advice is to know your credit score.

Read - "I'm honestly terrified to check my credit score I'm sure it's like abysmal."

No matter how hard it may be. Federal law allows you to get a free credit report once a year annually from the three credit reporting agencies. Click here to go to that website.