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(WHAS11) - Warned that time was running thin, Congress has reported an agreement on a $700 billion bailout plan; hoping to get it to the President soon.

Not every member of Congress says they are confident about the bailout plan, and many Americans are worried about how this will affect them.

From getting a loan, to credit scores, experts say that it’s a troubling time and you must protect yourself.

So now that it looks like Wall Street will be saved, but what about you?  That car you wanted, that house or condo you were hoping to buy in the coming months.

Even if some believe the lending picture locally won’t take a nosedive, your credit rating could become more important than ever. 

Don’t know what it is? Start by going to www.annualcreditreport.com, for a free credit report that you’re entitled to by law, once a year.  It was created by the nation’s three major credit reporting agencies: Transunion, Equifax and Experian.  If you find information that’s wrong, such as bills that are not yours or payments never credited, let them know so it doesn’t remain to drag down your score.

Think it doesn’t matter?  Think again. Many employers check your record before hiring, insurance companies before issuing policies, utility services to determine what deposit if any you’ll have the leave, cell phone companies and cable services too.

850 is the top score, but virtually no one has it; high 700’s you’re golden, low 700’s still great, but below 620 and you’re in sub-prime mortgage territory, and getting credit will be tough.