Daily rate of interest

[winslo]

Hi i am putting a money claim in for a car i bought for £9250 from a dealer, the car was rejected under SOGA and he made no attempt to contact me in the 7 days he had to refund the money.

 

I need to know what is a reasonable amount of daily interest to charge for compensation, as the moneyclaim website says

 

Since you have indicated that you wish to claim interest on the money the defendant owes you, you must include the following text in the particulars of your claim:

The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year from {date when the money became owed to you} to {the date you are issuing the claim} of £ {put the amount} and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of {enter the daily rate of interest}.

 

thanks

[spark911]

You've answered your own question if you want to claim the 8% under s.69 of County Courts Act 1984?

 

If you're claiming £9250 then 8% of that is £740 (a year), which divided by 365 days = £2.02 a day interest (it actually comes out at £2.027 but I don't think you can round up and it really wouldn't make much difference).

 

So then you need to claim £9250 + £2.02 for every day since purchase