FinanceAcceleration.com Releases Credit Management Tips for Furloughed Employees

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KBTV’s newschannel10.com published an article on October 11, 2013 entitled “Financial survival tips for furloughed workers” that highlighted areas of potential financial risk for workers currently affected by the government shutdown. FinanceAcceleration.com expands upon this article to discuss credit management tips specifically to ensure that no furloughed employees damage their credit scores.

On October 11, 2013, KBTV’s newschannel10.com published “Financial survival tips for furloughed workes”, an article that discussed particular financial areas at risk for those impacted by the government shutdown. A negative effect on a credit score is one such risk and FinanceAcceleration.com provides credit management tips to help furloughed employees maintain financial stability.

Furloughed workers are facing uncertain times and financial hardship as the government shutdown continues. Andrew Housser presents a few general tips for furloughed employees to avoid impending financial troubles including adhering to a budget, making purchases with cash and looking for outside sources of income as a backup plan.

Another important idea that Housser brings up is to notify creditors to find out if any company policies exist for customers experiencing financial hardship. The article raises an important point that credit cards and other debts often become difficult to pay each month during what feels like unemployment to many furloughed workers.

In response to the importance of avoiding a bad credit score, FinanceAccleration.com provided these tips for furloughed employees to keep their credit score intact:

1. Do not close any open lines of credit.

2. Do not open new lines of credit if current cards are maxed out.

3. Make at least the minimum monthly payment.

4. Contact debtors to discuss repayment options and deferment.

Some furloughed employees may already have a bad credit score, which can make this time particularly difficult. To learn more about credit management and the ability to secure a loan, FinanceAcceleration.com suggests you watch the bad credit video for detailed information about other financial options.

The article entitled “Financial survival tips for furloughed employees” provides a few tips to maintain financial stability for those experiencing financial hardship because of the government shutdown. In light of the article, FinanceAcceleration.com discusses the importance of credit management for furloughed employees to avoid any negative impact on their credit score.

About FinanceAcceleration.com
FinanceAcceleration.com is an online resource for people who are seeking advice on how to achieve their financial goals. The website is particular helpful for newlyweds looking to start life together in a fiscally responsible manner.

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