Work Out Settlement Figure Yourself, Possible?

A question about : Work Out Settlement Figure Yourself, Possible?

Is it possible to workout yourself (roughly or accurately), a settlement figure on a loan after you receive your annual statement?

Best answers:

• 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.
• 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.