Good credit score more important now than ever
Created: September 18, 2008 09:20 PM    
Modified: September 18, 2008 11:10 PM


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A word to customers who have insurance with American International Group, the nation's largest insurer. Louisiana Insurance Commissioner Jim Donelon says don't worry, it's AIG's holding or parent company that's facing the financial crisis. Donelon says AIG's insurance subsidiaries are state-regulated and solvent. In fact, it's likely the insurance side will be sold in an attempt to return AIG's parent company to a more stable financial position. AIG has 45 insurance companies authorized to do business in Louisiana.

It's not just the federal bailout of AIG that has consumers worried. There's Lehman Brothers, Bear Sterns, Fannie Mae and Freddie Mac. What does it mean for your average Joe? A tighter credit market, making your credit score more important than ever. The high foreclosure rate, inflation and shrinking consumer spending have all contributed to Wall Street's woes

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