Calculating Court Interest

[millymop23]

I am in the process of reclaiming my credit card charges via the courts and would like to know if i need recalculate the interest of my original claim before i submit it or do i stick with the old amount. I first requested the refund nearly over two months ago so although it would not change significantly it will still haved increased slightly.

 

When do i add on the 8% and where abouts in the equation does the 0.00022 daily rate come into effect? Is this already taken care of in the original calculation (Claiming £772 with £140.32 interest as of 23.05.08)

 

Also, i have had a few charges since my first refund request. Do i need to submit this seperately or can i add it on to my current claim?

 

Getting really baffled so any advice would be very helpful

[saintly_1]

Any new charges can be added to your claim now

 

The £140.32 interest what is this is it the interest the CC company has charged you or the interest that the spread sheet worked out as the interest on the charges ?

[millymop23]

The £140.32 interest what is this is it the interest the CC company has charged you or the interest that the spread sheet worked out as the interest on the charges ?

 

Yes, this is the interest calculated from the spreadsheet.

 

So am i right in thinking that if i can add on any new claims i will need to recalculate the interest anyway??

[saintly_1]

Which spreadsheet are you using ......... as the simple one auto updates each time you open it on your pc

[millymop23]

I used the one from MSE website but i have used it since for another claim and all the figures had disappeared. I didn't realise there is one that keeps the info. Looks like i will have to do it again anyway. Thank you

[saintly_1]

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html here is the link to the ones on here

[millymop23]

Please can someone quickly explain how the "days" since offence calculation works. My last entry is for 11 July 2008 and it is bringing up 127 as days but where is it getting this figure from??

 

Please help as i would like to get my claim off asap x

[legalpickle]

Please can someone quickly explain how the "days" since offence calculation works. My last entry is for 11 July 2008 and it is bringing up 127 as days but where is it getting this figure from??

 

Please help as i would like to get my claim off asap x

 

I am unsure which spreadsheet you are using, but most calculate the amount of days between the date of 'offence' and the date put in the top section, normally marked as 'Date of claim', which is the day you would be submitting this sheet to the court and defendant.

 

I change the name of 'Date of claim' to something like 'Revised date' or 'Submissions date', so that it is clearer.

[saintly_1]

post #16 on this thread http://www.consumeractiongroup.co.uk/forum/barclays-bcard-woolwich-successes/7226-maisielou-barclays.html#post50088 gives a good example of how to fill in the simple spreadsheet

 

 

 

 

saint

[legalpickle]

post #16 on this thread http://www.consumeractiongroup.co.uk/forum/barclays-bcard-woolwich-successes/7226-maisielou-barclays.html#post50088 gives a good example of how to fill in the simple spreadsheet

 

 

 

 

saint

 

I use a different spreadsheet which I find easier and is also simple to use for any claim. I downloaded it off PCF or MSE, I think PCF a while back. I removed a section where you add the sortcode and account number, as I use it for any claim that I claim interest in, but you can add fields to put it in. I find this one simpler than the CAG ones. I've attached it to this post.

MS EXCEL_Interest_Calculation_8%_V1.2.xls

[saintly_1]

Is that one auto updating ?

[legalpickle]

Is that one auto updating ?

 

Not exactly. It's simple to update, you just enter the new date you want the interest calculated till in one field and it updates the rest. I found it simpler because it's all in one sheet and is easy to understand. It also doesn't need any modifications for whatever claim you want to use it for - now that I've deleted the bank charges related fields - so that you can use for literally anything.

 

I did very few bank charges claims, most of my claims are to do with telecoms providers, and I also provide advice through a business, and use that. My father works in CAB and uses this sheet as well because it's better than the one they were given.

[millymop23]

Sorry but I am still having problems with the interest calculations and dates. When the spreadsheet is first opened up it already has dates and figures in the columns (i know that these are ficticious) but how is it calculating the days since offence column as there are no other dates to calculate the difference from. I have already worked out my charges on 13th August and saved the document, but when i go back into it, it is not altering any of the figures and i really dont understand why??

 

Please help, thank you

[ukaviator]

Hi Millymop

 

If you are stuck, i have one i can send one to you, but i won't be about until tonight. I need an email address to attach it to. It is more user friendly than some of the others.

[ukaviator]

Hi Millymop

 

If you are stuck, i have one i can send one to you, but i won't be about until tonight. I need an email address to attach it to. It is more user friendly than some of the others.

[millymop23]

That would be great thank you. I will pm you my email address