Need advise from a person who is very financially smart..Serious people only.?

My husband and I filed bankruptcy last year and we were bombarded with credit card and new car offers. 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?? 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. - Thanks!

Need advise from a person who is very financially smart..Serious people only.?rate my

Please, you need to hear this...

STUPID!!!

You filed for bankruptcy, and it taught you nothing? You STILL bought things with money you did not have? Learn from this, I beg you. Learn what happens when you decide that you have to have something NOW, instead of waiting until you have the money to pay for it.

Here is what I would recommend:

1) Talk with a Debt Counselor. This is usually a free service offered by the state.

2) You may need to declare bankruptcy again, but only as a last resort. A better option is to find a credit card that offers a high-amount balance transfer with 0% interest for the life of the transfer. Transfer your highest interest rate to that card. Then, pay the minimum on that while you pay the max on the next-highest interest card. That will save you money over time.

3) Once you find some way to pay off a credit card, cancel it, cut it up, and burn the pieces! Make sure you do not fall into this pit again.

4) A house and a car are the only things you should EVER buy that cost more than you have in the bank. Do not fall victim to the sweet sounds of %26quot;buy now, pay later.%26quot;

5) Understand that the amount of ~things~ you have does not equal the amount of success you have in life, importance, or friends.

6) Lastly, LEARN from this! Do NOT take credit card offers that seem too good to be true. Have one card. If you approach the limit, you spent too much on it! Simple.

Need advise from a person who is very financially smart..Serious people only.?

loan

ouch!!

without giving me account numbers and any personal info

just email me with net pay and how often

include all daily,weekly,monthly,and annual bills

questions@researchitforme.com|||Yes, most people who file once end up filing again because they didn%26#039;t change the habits that got them in trouble in the first place. Unfortunately, you can only file once every seven years - that%26#039;s why you were able to get the credit cards and loans so easily. Money is funny - everyone wants it, but no one wants to talk about it.

First - cut up the credit cards. That is the last thing you need to be using for ANYTHING.

Next, create a budget, listing all income at the top. Then, start listing NECESSARY expenses - shelter (mortgage or rent, utilities), food, clothing, transportation (including auto loans, gas, insurance) and savings for emergencies (you%26#039;ll need to work up to about $1000). Next comes other expenses - doctor bills, life insurance for both you and your husband, auto repairs, home repairs, etc. Last of all is your other debts - credit cards, old medical bills, etc. You will work your way down the list, subtracting the amount needed from your income. If you get to the end of the list and you still have money do this:

Organize your debt - list all your debt (except the mortgage) on a piece of paper, starting with the SMALLEST AMOUNT OWED. Include who you owe, how much you owe and what the interest rate is. Now you know WHAT you owe. Pay the minimum on everything EXCEPT the smallest debt. Put every left-over penny on this debt until it is paid off. Then take that money and ADD it to the amount you pay to debt #2, keeping your total debt-reduction amount the same every period (week, month, paycheck). Keep doing this until all debts are paid off.

If you can%26#039;t make the minimum payments on the credit cards, call the issuer BEFORE they start calling you . If you call them, they%26#039;ll usually work out a repayment plan because you%26#039;re showing that you WANT to pay them. Just make sure YOU tell THEM how much you can pay. Don%26#039;t let them tell you they need such-and-such a minimum payment. Only YOU know how much you can afford. Make sure you speak to a manager.

Sell both cars, pay off the loans and get something cheaper with the cash left over. Which is more important to you - looking rich or being rich? You%26#039;ll never BE rich if you keep spending more than you earn. If you want a newer (never new) car, save your money and trade-up using your old car (trade-in) and cash. Never use credit to buy something that depreciates (liek cars), only things that appreciate (like houses).

At least one of you needs to get short-term second job. Use this income to pay off debt. Go through the house and find stuff to sell at a garage sale - put the money toward debt-reduction. Get rid of the cable/satellite TV, cell phones, internet (use the library for free and you can sell the computer), anything that isn%26#039;t NECESSARY.

I know how you feel. We were there several years ago ($16,000 in credit card debt, $40,000 in student loans + mortgage with 2 kids). We have paid off all credit cards (haven%26#039;t used them again), car loans, and are working on the student loans.

You can do this. It will just take time and hard work. You%26#039;ll also need to change all those old habits. Check out the website below. This guy changed our thinking about money and saved our marriage. Best of luck.

If you want more help, click on my ID (homeschoolmom) to send me an email.