Help with particulars pleeeeease!!

[Missy29]

Hiya,

 

Completed my QA, they have asked for particulars. What does that 0.22 bit mean. I really can't work it out.

 

Missy

[why!!!!!!]

Hi,

This is to work out your daily rate of interest.

 

your amount of charges x 0.00022 =

 

for example: 0.00022 x 1000 = 22p

[Laineybelle]

Hi Missy,

 

I am not a pro on all this by any means but that should be the figure that is used to work out your daily rate of interest, although it is more like 0.00022. Check on the filling out of the Particulars of Claim to make sure of the exact calculation figure to be used.

 

basically, every day that your list of charges goes by without getting settled (once you have put your claim in) that is the daily amount of interest that has been worked out for your particular amount of charges. So you have your spreadsheet that was sent in stating so much was owed to you including the interest that the spreadsheet worked out for you and then the calculation figure gives you the daily rate that continues from that date on.

 

Hope that helps?

Good luck

Laineybelle

[Missy29]

Thanks for your help. Just one more thing. Does the amount that I calculate include the 8% interest or not.

 

E.g:

 

Amount before 8% x 0.0002

 

OR

 

Amount after 8% x 0.0002

 

I think my head is about to explode!!! Sorry for the stupid questions, just wan't to make sure I am doing the right thing:D

[Laineybelle]

Before the 8% interest I should think