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Though tax credits may help, consumer credit counseling may offer solutions for debt problems
By Sam Craine on Feb 13th, 2010
One way consumers may be able to save some money is by making sure they don't forget about tax credits as they fill out forms.
Recently, Thomson Reuters put forward some suggestions of tax credit consumers should make sure that they take advantage of a tax credit put forward by the government for those who bought a new home. First-time homebuyers can get $8,000, while others buying a new home can get $6,500.
Furthermore, families may be able to get a break through a $2,500 tax credit tied to college.
"Thanks to higher income limitations and increased years of student eligibility, many more families qualify for the Hope Scholarship credit in 2009 than in the past," Bob Scharin, a senior with tax analyst with Thomson Reuters.
Of course, tax credits may not be able to help some people when it comes to trying to save money and pay off debts. Consumers who are struggling to map out how to pay their bills may consider going to a consumer credit counseling agency.
The services that a consumer credit counseling service can provide include analyzing a person's finances and setting a budget based on what they make.
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