The city of Newark has launched a financial hotline to help residents navigate the economic crisis.

"Whether it's high credit card bills, or facing foreclosure, or even not knowing what to do with your 401(k) - we have answers to that," says Newark Mayor Cory Booker.

City officials say those seeking advice speak with trained professionals, mainly volunteers from local banks. Pam Bertonson, who has been in the financial-services industry for three decades, is donating her time to the hotline.

"I just feel good about having the opportunity to help people, and I wish there was more of that going on," she says. "I think it's a real important thing right now."