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Work Out Settlement Figure Yourself, Possible?
Goldfinger09
Posts: 45 Forumite
in Loans
Is it possible to workout yourself (roughly or accurately), a settlement figure on a loan after you receive your annual statement?
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Comments
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Goldfinger09 wrote: »Is it possible to workout yourself (roughly or accurately), a settlement figure on a loan after you receive your annual statement?
what does the annual statement tell you?0 -
Yes, you check what fee is charged for early settlement (e.g. 2 months interest) workout what two months interest would be, work out how much you have paid off since your last statement, work out how much interest would have been charged since your last statement and then you have a settlement figure.
balance + interest - payments + fee = setllement fee.loose does not rhyme with choose but lose does and is the word you meant to write.0 -
An easier option is to just look on your credit report at your outstanding balance, it'll give you a pretty close idea to how much your monthly payment takes off your owed amount.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0
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