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Calculating debt
worriedwilf
Posts: 93 Forumite
When calculating total debt do you take into consideration all of the interest payment on a loan too - For example, my loan which was orignally for £15000 increases to £17500 when I take into account the debt. My current balance is £7500 but the settlement figure is considerably less.
Which is the best figure to use as in theory, If I paid off the loan today the settlement figure would apply.
Cheers
WW
Which is the best figure to use as in theory, If I paid off the loan today the settlement figure would apply.
Cheers
WW
0
Comments
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Although the figures were scary, I calculated the debt to be what I owed from my latest statements as I considered it to be a more true reflection rather than what you have owed and what you may owe if you were to pay it off.
Wisdom comes from experience. Experience is often a result of lack of wisdom.0
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