In need of some financial advise. We are falling into the same trap!?

My husband and I filed bankruptcy last year and we were bombarded with credit card and new car offers. We were told that getting several credit cards was a good way to reestablish our credit. However, neither one of us is good at managing money. We took the bait and now we have two new car payments and three credit cards that are over the limit. We have been paying on them each month, but still have not been able to catch up with the late fees and over the limit charges. Our total monthly expenses is equivalent to 97% of our income. How can we ever get out of this credit card hell?? The total of all cards combined is nearly $3,000. I have heard that 90% of people that come out of bankruptcy end up in debt again. I don%26#039;t want to be one of the statistics. We really need some good advice. Serious answering only. d

In need of some financial advise. We are falling into the same trap!?exchange rate

Get rid of all but one card. Consolidate everything into one. The credit agencies will give you better marks for having one credit card under control, than 3 cards out of control.

Sell the cars and buy something you can afford.

Live beneath your means, not beyond them. Make a budget and stick with it!

In need of some financial advise. We are falling into the same trap!?

loan

Unfortunately, there are many folks that are in similar situation as you and your husband. While it is true credit card is one of the best way to initiate a credit rating, it is often misunderstood as people will tend to spend more than what they can afford. If both of you are not good at managing money, you should close those accounts immediately until you get a grip around the situation. You sound like a young person that%26#039;s just starting out so I would stay away from filing bankruptcy. Bankruptcy will cause a lot of harm down the road. My advice is to close your credit cards and start paying them off. One way to do this is to combine the three credit card into one. Sometimes a credit card company will offer 0% financing on transferred amounts. At least this will help lessen the pain. Now instead of having to deal with three credit card companies, you only have to deal with one, which should be much more manageable. To get out of this hell, you%26#039;ll both need to learn more about money and don%26#039;t spend money you don%26#039;t have.