Really NEED advice - Please help

[remarc]

Here is my current situation. I really need some advice on what i should do and the best corse of action to take

In March i paid down all my debt to about 15% I then purchased a car. I traded in my older car. put a little money down and got myself something better with only slightly higher payments. extra $40 a month . Everything is good. 

Then. In May of this year I had a family member pass away and had to return back to the UK and i used a lot of my available credit on my cards to do this. I had no other choice as i had not planned for the situation and just purchased the newer car. 

Ive returned now but i am at the brink of what i can affored every month. Im paying just over the  minium on my credit cards & always pay my car payment on time. 

My current CC debt is at 75% and i really need to reduce this but the car is weighing heavely on my shoulders. 

I currently pay $387 a month for my infiniti QX56 

I was thinking about trading it back in and getting something smaller. something with more miles to the tank & much lower payments. I currently owe $19.000 on it and the trade in says ita around $16.000 which will put me upside down.

Whats the best thing to do? keep paying it and keep it?

pay it down till a chunk is paid off then trade it in? 

I really need to free up some extra money to pay my CC and bills. ive been looking to get extra job and more hours at work. however i have a little boy and when im not working my time is consumed looking after him. 

My scores around around the 620 to 640 mark because of the increase on my credit.

Please Help 

[fishbjc]

This may be the Mom in me, but time with your child is so precious.    Is there a way you can make extra cash with eBay?  Craigslist?  Childcare in your home?  Take out a personal loan and pay the CC's at a lower interest? 

As for selling the car, the upside down of $3k....would this be b/c of a turn-in or private sale? 

Call the CC and ask for CLI to offset utilization. 

[StartingOver10]

So you have only had the car for 3 to 4  months worth of payments, right?

Don't stop the payments. That is the worst thing you can do because then the car is repo'ed and you still have the debt to pay! Your credit will be destroyed. There are other ways to fix it.

Even if you didn't have the cc debt, would you be looking to give back the car? It sounds like it from your post. Problem is, do you know that you are only $3k upside down or is it more? If you sold it privately could you bring cash to the table to clear the loan?

That is your best bet, sell it privately.  Don't trade it because the dealer will give you wholesale for it and then charge you extra on the new vehicle so in essence you will be carrying two vehicles in the new loan.

If you don't have the extra cash, do as the above poster states - sell your items around the house on Craigslist or Ebay to get the funds together.

Do you have extra room to get a responsible and reliable rent paying roommate until you get through this period of time?