I was recently asked about my own experiences with finance and credit. Like many I have had both good and bad experiences. If you can call any loan good. Listen, as much as I hate borrowing, if you get into bed with the devil, there are institutions that have better customer service and overall more pleasant to deal with.
The credit union that currently handles my car loan is great to deal with. That Credit Union also has my checking account. I allow them to automatically withdraw $100/week out of my checking, as soon as my paycheck hits. This allows me to stay current, keep my interest payments to a minimum and allows me to pay the debt faster. For example in January, I will pay $100 extra, because of the fifth payday that month. Plus since my minimum payment isn't quite $400/month, I am also paying a little extra every other month as well.
On my home loan, I have had two. One good and one bad. The current home improvement loan the company has been pleasant to work with, despite that they are charging way to much interest. However, the former, which was a debt CONsolidation was what many would call bad credit home loans. They were charging me 16% and even though I was paid ahead by several months, they would still call demanding payment and such, when I would miss a payment due date. That is one company, I never want to deal with again. Perhaps if there is a next time, I will be smarter about choosing the company I do business with.
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