credit card bankruptcy statistics
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’t want to be one of the statistics. We really need some good advice. Serious answering only. d
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!
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