Hi, Gary, I can't answer all of your questions but do have a few suggestions
for you.

1) Talk to your local union rep to see if they have a credit union, and if
they do, I suggest you join.  They are friendlier than large banks, and a lot
of times, you'll get help you wouldn't be able to get at a bank.  They are
the same as a bank, except they're owned by their members, not stockholders.

2) If you work  for a government agency, be it state, local or federal, they
almost certainly have a credit union you can join.  Ask your HR rep.

3)  You need to sit down with a loan officer and have them amortise a loan for
you.  That means they will figure out a payment schedule, using interest
rates and length of the payment period (financial term for this is "term",
that is, the term of the loan).  Or if you're proficient with a spreadsheet,
you can do it yourself, plugging in the numbers.  All spreadsheets have
amortisation functions you can use.

4) If you have a large credit card bill, the best thing you can do is to pay
it off as soon as possible, or at least pay it down.

5) If you get a fixed-rate (that is, an interest rate that doesn't change)
loan with a specific term, see if they assess penalties for paying it off too
soon or quickly.  Since lenders make money off the interest they charge you,
some will penalise you for paying it off too soon.   Most won't but some do.

That is the exent of my finanical accumen.  Hopefully someone else can give
you more specific advice than I.

Kat

On Thursday 10 March 2005 10:33 am, Gary Peterson wrote:
> Hi all!