Why is no one claiming the contractual rate of interest???

[FANTASY CHARGES]

just seen this thread i discovered a site called payontime.com

 

"for the dark side to use" but maybe the link might help you check your contractual interest ---- i have not tried it ----

 

what is good for the goose is good for the gander !!!

 

The Better Payment Practice Campaign. Interest Calculator.

 

and then

Contractual Interest Calculator

 

 

 

CALCULATOR

Date payment became overdue (dd/mm/yyyy)

 

 

Date of Payment (if principal debt has now been paid): (dd/mm/yyyy)

 

Stipulated Contractual Interest Rate (numbers only)

 

Is the interest rate daily, weekly, monthly or annual? (tick which applies) daily weekly monthly annual

 

Is Compound Interest Chargeable? (tick for yes)

 

Total Invoice Value (inc VAT) (numbers only)

CALCULATION RESULTS

 

say you had 8 charges find out the date of the last charge

 

enter the details of each (one at a time) of the first seven charges and you add the seven interest charges together to see what they owe you at the date of the 8th (and last charge) say that is £234.56

 

then add all the charges up say they are 8 x £25 = £200

 

then use the first date the from -- by insering the date you were charged that last charge -- and if you have a court date -- that will be the second date to enter ----- hopefully someone will understand this idea and it can be used as a check (2nd opinion) on other conventionable means of calculation

[Gezuwit]

Ahhh Westy . I'll give you a shout next time!

 

Well, I'm not religious but I'm praying to be successful in my struggle to get my money back! And with this spreadsheet business tying my (as well as everyone else's) head in knots...I'm glad to have the Spreadsheet King on myside in doing so:-D!

[lucid]

Cheers for the help Lucid - sorry if I come come across patronising (not my intention)...

 

Hi Gezuwit,

 

No I didn't think you were being patronising at all.

 

Sorry for mis-reading what you said about using Vampiress's spreadsheet - fr some reason I only took in the first bit about changing the rate. I think you are along the right lines for calculating the compound interest but I know that the actual formula Mindzai used in his spreadsheet is very complicated.

 

I think that the interest paid on penlaties section of the spreadsheet is going to have to be universal for all credit cards - otherwise it's goign to be an impossibility to produce - so this is going to mean that some people will get overestimates from the spreadsheet while others will get underestimates. Then if the bank want to argue then it is down to them to produce the figures.

 

I do know that Mindzai's spreadsheet for credit cards is probably going to be completed and probably posted up on his thread (linked in the bottom of my signature) by tomorrow. It has been checked out and the only comment made was regarding the different rules for each credit card company. So keep a look out and it should turn up soon.

 

Lucid

[Gezuwit]

Great Lucid,

 

Thanks for the update - I'll keep my eyes peeled!

 

Gez

[ammani]

Hi there, i am sorry if i have put this thread in the wrong place, but i wanted to ask about the interest that can be claimed. Having read all this thread, i have become so confused, maths never was a good subject of mine! I understand that i can claim charges, that were unlawfully taken from my account, and also the interest paid on these charges, and also the contractual rate, or 8% interest. Could someone please tell me, how i would find the amount of interest paid on these charges, and the contractual rate for Egg. I downloaded the credit card spreadsheet, and put in my charges, and it showed amount, date incurred, days since offence, and interest at 8%.

After putting in my charges in £ sterling, the interest was showing in $.Could anyone explain how to use the spreadsheet, as never used one before. I couldnt seem to put in my personal details etc either. And once finding interest levied against charges where is it put on the spreadsheet? Oh and what is the small totals box to the right! Sorry for so many questions, just want to get it all correct.Once i have this sorted i will be sending preliminary letter and schedule of charges to Egg. I have decided to show the interest i am claiming in this first letter, is this correct? Any advice will be most gratefully appreciated. Many thanks.

[ladybird17]

I'm not coming here to help you ammani - SORRY!!! but it's so nice to see someone else having these continuing problems with the spreads. Lots of people on here have been patiently & kindly (trying) to help me out, but I sometimes I can't even get as far as downloading a spreadsheet. There's so many knocking around that I never get the same twice - they come up just with the printing - no columns and rows and I know NOTHING about spreadsheets! I unprotect them and they stay protected....arrghhh!!! was hoping to get claim off the week before last, but quite frankly, I have wasted so much time being completely useless that I am probably just going to add up the charges, ask for that and forget about interest altogether. Bit of a bummer, - you'd think someone with a degree whose working life consisted of completing complicated forms to Central & European government could get their round all this wouldn't you?..........no chance, and I'm not even blonde!!

[sowerby17]

ladybird youhave made my day i thought i was thick not being able to do the spreadsheets but now i know it is not just me. i suppose it is like you doing your govern ment stuff the people who did the spreadsheets probably wouldnt know what to do with them.Well good luck sure we will get there in the end.

[ladybird17]

I think part of the problem is when you understand something, as in the case of those experienced on spreads, it's really difficult to explain it to people like me whose eyes glaze over when they see figures! And that's no criticism of anyone on her - wish I could understand them like they do! The frustrating thing for me is that I understand about contractual - I understand about compounded contractual, authorised & unauthorised rates, statutory, when in the process they should be claimed - but I just can't pull it together on a spreadsheet, I don't usually give up on things, but this is wearing me to a frazzle!

[photoman]

ammani, ladybird and sowerby.

sent you all a PM. check you inboxes.

PM

[bill-k]

Sorry this didn't work for you, Ladybird, but just in case it's any use to the others, here:

 

http://www.consumeractiongroup.co.uk/forum/post-544188.html

[sowerby17]

well lady bird you understand far more than me

[FANTASY CHARGES]

I think part of the problem is when you understand something, as in the case of those experienced on spreads, it's really difficult to explain it to people like me whose eyes glaze over when they see figures! And that's no criticism of anyone on her - wish I could understand them like they do! The frustrating thing for me is that I understand about contractual - I understand about compounded contractual, authorised & unauthorised rates, statutory, when in the process they should be claimed - but I just can't pull it together on a spreadsheet, I don't usually give up on things, but this is wearing me to a frazzle!

 

look at my earlier post 2 or 3 days ago and see if you can understand my idea --

[ladybird17]

OK - almost cracked it!!!!!!! I now can't fathom out how to print out only the pages I have completed. And as you can see, I have lost all self-respect and dignity by confessing my complete stupidity!!

[photoman]

Ladybird, sent you a PM in response to your question about how to print.

Basically, from file menu in top left choose print. On there it asks which pages to print.

[ladybird17]

Thanks - I've PM'd you back. Got myself tied up in knots and was SO determined to do it! I was making things far more complicated than they really were. Thanks to all you guys on here who have pushed me kicking, screaming and struggling through this hoop, especially Bill-k, Battleaxe & Photoman. Phew - ...crikey is it only 12 noon? - I though it was time to open a bottle!

[Guest Battleaxe]

There you go another skill learnt. Glad to have been of help. Now you ahve the phone number and email addy, if you get stuck again, just holler.

[photoman]

There you go another skill learnt. Glad to have been of help. Now you ahve the phone number and email addy, if you get stuck again, just holler.

 

Hey battleaxe,

Have you noticed your post count !!

About to hit the millenium !!

[Guest Battleaxe]

Let's do it. I was peeved when the posts in the Bear Garden got reset, but it's nice to hit the 1000 mark twice. Thank you Photoman for making me do it. 1000, now what is the prize?? No, nothing, oh well it's fun

[bill-k]

GONGRATULATIONS,

BATTLEAXE !!

POST # 1,000

 

- and spent helping someone. Well spent !!

[ladybird17]

Having finally cracked the spreadsheet and worked out what I'll be claiming - I've hit another problem with HSBC - I tried starting 2 new threads - but no replies, so I'm temporarily hijacking this thread - HSBC have started calling unauthorised OD's "informal" OD's - when you hop over your limit they now charge you a £25 "arrangement fee". Now I realise this is a penalty, not a fee, but I want to try & re-word the prelim. letter so as it doesn't rebound with - "this is not a penalty, or charge, it's a fee for a service" - anyone want to help out on this?

[Guest Battleaxe]

Just tell it like it is, they are trying to get smart. it's unauthorised whatever way they want to disguise it. They can tell their story to the Judge. This is the new ploy they are all trying. Just call a spade a spade Ladybird

[Guest Battleaxe]

Thank you Bill. Hugs

[Guest Battleaxe]

15 guests looking at the thread I hope they are learning something

[FANTASY CHARGES]

15 guests looking at the thread I hope they are learning something

g's were on the large thread 20 mins ago!

[bill-k]

I expect our dear guests are trying to work out how to fill in a spreadsheet properly !!!!

 

Am I bovvered ??

 

Sorry guys - help is for members only. Rules is rules.