DENVER -- Finance experts say the market crash could eventually have an impact on consumer credit, hurting people already struggling to make ends meet.

Mac Clouse, a finance professor at the University of Denver, said because of the crash, consumers could get crunched with higher credit card rates, higher minimum payments and tougher credit requirements.

"The issuing banks are discovering that those losses could be pretty bad news, and as a result it could cause some of the catastrophes that we're seeing now that could bring down a bank," said Clouse.

Credit Counselors say making borrowing more difficult would pinch people who are already facing tough times, but they should focus on their personal economies, rather than the national economy.

"Go back to basics. Keep your debt low. Save what you can. Pay your bills on time. These things apply no matter what's happening in the market," said Kim McGinnis, with Consumer Credit Counseling Services.