Spreadsheet with interest

[bram stoker]

Due to a lot of queries regarding interest I have designed spreadsheets that attempt to calculate a fair claim.

 

Please ask in this thread if you have any problems with it, and either myself, or someone else will try to help you.

 

These spreadsheets are freely given to help you. Please consider a donation to the site if you decide to use them so that we may continue to help you.

 

 

Some spreadsheets can now be downloaded, using the links below.

 

Please choose the spreadsheet relevant to your claim - there are different versions depending on if you are in England or Scotland, which spreadsheet package you use, and also whether you are claiming for a bank account or credit card.

 

 

Bank Accounts

England - Simple - Excel

England - Simple - Works

England - Simple - OpenOffice

England - Advanced - Excel

England - Advanced - Works

 

Scotland - Simple - Excel

Scotland - Simple - Works

Scotland - Advanced - Excel

Scotland - Advanced - Works SORRY - WE HOPE TO RESTORE THIS LINK SHORTLY

 

 

Credit Cards

 

England - Simple - Excel

England - Simple - Works

England - Simple - OpenOffice

 

England - Advanced - Excel

England - Advanced - Works SORRY - WE HOPE TO RESTORE THIS LINK SHORTLY

 

Scotland - Simple - Excel

Scotland - Simple - Works

 

 

Please note: All spreadsheets are © Reclaim the Right Ltd.

[bram stoker]

You do need the balances to complete this particular spreadsheet.

 

If only have monthly balances you should be able to work the balances out if you have a complete list of transactions.

 

Alternatively an estimate could be entered, but this will produce a less acurate figure.

[bram stoker]

The spreadsheet is not designed to deal with the particular situation you are describing, although it seems you are able to 'fudge' it.

 

As the interest-free figure is not static throughout the time period, you will need to amend every account balance figure you enter on the spreadsheet. You need to deduct the interest-free amount from the true balance on each date, thereby reducing an overdrawn balance or increasing a positive balance.

 

NB. The spreadsheet does not initially deal with interest receivable from the banks. Any interest on amounts they have unlawfully deducted is dealt with in the 8% calculation and is only claimable when taken to court.

 

I will add your point to my list of amendments for future updates.

 

Many thanks for your input. I hope this helps.

[bram stoker]

Yes, there is a new argument about charging the bank a commercial rate in your initial request and the notes need to be updated to reflect this.

 

To do so, just change the 8% to another rate of interest.

 

The argument is being discussed in another thread if anyone wants to discuss it further. Let's keep this thread for the actual workings of the spreadsheet.

 

There are some good points here. You're all creating work for me. Lol. I'll try to get an update done by the end of next weekend. Wishful thinking.

[bram stoker]

Have tried using the spreadsheet but as my account is in credit at the date the interest is applied it shows zero. is this correct?

That's one of the bugs of the spreadsheet. It is only designed to give an estimate. The balance you enter represents an average balance of the month. For you this spreadsheet doesn't work. I'm sorry.

 

I'll have to look at dealing with this problem. Try entering an average balance of the month for the moment.

[bram stoker]

On the 8% sheet, what date do i enter for interest date?

It is set to today's date. You can change it to the date you are filing your claim if you want.

[bram stoker]

Krakan,

 

You are absolutely correct, have understood completely, and applying the solution you suggest is spot on. Well done, and great to see such wonderful understanding of the workings and application of the spreadsheet. I'm touched.

 

A request for comments direct and without insult were unnecessary. I truly mean every word.

 

Seriously, you have it 'summed' up - pardon the pun.

 

Nice one.

 

Vamp. x:D

[bram stoker]

Fred,

 

You are referring to Section 69 of the County Courts Act 1984. This is stated in the Particulars of Claim in the Bank Templates library.

[bram stoker]

Essjaydee,

 

You are right to add the interest to the charges (of course, for other looking at this post, I'm NOT talking about the 8% interest).

 

Please see my notes in the spreadsheet as to the date and balance used. They can only ever give an estimate.

 

Vamp. x

[bram stoker]

Tim,

 

There is a formula set up in there. Don't delete it. You may need to copy it out again.

[bram stoker]

hi barracad,

 

no i dont have microsoft excel its open office one that i downloaded from here.

You have a corrupted formula in that cell. Try downloading the spreadsheet again and copying the formula back in. If you get stuck Let me know.

[bram stoker]

Are you all downloading the Excel spreadsheet or the Open Office spreadsheet? You need to make sure you get the correct one as they have different formulae.

[bram stoker]

Hi Vampiress,

 

The Excel sheet is great thankyou, I just have a question about how it calculates the interest.

 

I put in all my charges and I put in all opverdraft interest charges for the last 6 years. When calculating the interest I noticed that for the earlier interest charges made by the bank your sheet calculates an interest value for me to claim which is smaller than the interest charge the bank made, this I understand. Part way down the sheet however (as the dates get more recent) the interest to claim amount is exactly the same as the interest charged amount, is this correct or have I not filled the sheet incorrectly?

 

I hope I've explained myself in a way that you can understand, I'm happy to send you the sheet if that helps.

 

Many thanks

Rob

This is probably correct. By the more recent dates the charges will cumulate to quite a large sum. Most probably all of your overdraft is made up of bank charges. Therefore, all the interest is in relation to bank charges charged.

 

Hope that makes sense.

 

(And thanks all for your kind words. Get yourselves to the BAG forum party. ;-))

[bram stoker]

Hi all,

 

Just a quick catch up on spreadsheets. I haven't been able to be around much. I notice now that some of you are are fully competent on the ins and outs of the spreadsheets provided here, and able to advise each other.

 

This forum is designed for us all to help each other. As I am not now as available as I have been, it's nice to see you all helping each other, and hope you continue to do so.

 

I'm just completely gutted the world hasn't fallen down whilst I've not been around. Lol.

 

Keep it up folks. We're all here to help each other. Thanks.

[bram stoker]

What would happen if you admitted your claim and unknowingly had worked out interest at the wrong amount?

Im in a pickle and not very confident in what i am doing although been trying for 2 months!!

Could i enter my total figures for someone to check?? please

If you want to send me your spreadsheet at vampiress.bag@gmail.co.uk I'll take a look.

[bram stoker]

Ok I am completely baffled now. With credit cards I need to be able to use the card companies monthly interest rate and apply it to any charges made in that month. The spreadsheet doesnt seem to allow using a monthly interest rate.

 

Where Banks are concerned surely we only need to charge compound interest based on their monthly unauthorised overdraft interest rate ?

 

I'm no expert on spread sheets but it seems to me that if a charge was made on 30/2/2004 then interest is calculable from then until now.

 

Afraid my brain is starting to get too old and frazzled to start trying to work out interest owed over a 6 year period when multiple charges have been made. I can't for the life of me understand why the account balance is needed on a monthly basis when we are really only interested in interest they owe us on charges made against us.

You don't need to worry about interest rates at all. Use the spreadsheet as normal. You will probably find that only a small amount of the interest relates to the charges.

The rules still apply where, if you are charged interest on a £200 bill, and £100 of that is made up of penalties that should never have been applied, then they owe you half the interest back.

[bram stoker]

UPDATE :

 

Finished filling in spreadsheet. The interest on charges only comes to £27.

I think this is because im only claiming for the last 17 months to keep my claim under £5000.

 

So,

 

Charges = £4500 Interest on charges = £27 Total = £4527

 

Does this look ok ?

 

 

Thanks

It seems low, but if that's all they charged you, then that's all they charged you. At least you can claim all of it and not just a part of it.

[bram stoker]

Vampiress : I put estimated figure of previous charges in brown box (£3000), nothing changed in the total amount.

 

Does estimated figure have be done 1st?

 

thanks

 

rob

It makes no difference. It would only affect the proportion of interest that relates to penalty charges. Your circumstances show that ALL the interest relates to penalties, so you are claiming all the interest. There's no more to claim.

 

Good luck Rob.

Vamp.

[bram stoker]

Onanblues - No.

 

See the notes within the spreadsheet. Just list the interest on the right-hand side. It doesn't matter if the dates do not align with the left-hand side.

 

Sorry, I must have missed that comment as I've been away from here for a while. Thanks.

[bram stoker]

Thank you!

 

But...

 

So the right hand side only needs to have one entry (row) of interest charged and balance per month?

 

Rob

Yes. And just listed one under the other.

[bram stoker]

I have used your spreadsheet for calculation of penalty charges and interest but have noticed when I deleted the unnecessary rows of cells up to row 777 so as not to print them it altered the total of my interest on penalties figure?

It shouldn't do this. I'm not sure what's gone wrong here, but it's been fine for everyone else so far. Can you please try again.?

[bram stoker]

2. Is correct sent list of charges if you want to, but also not necessary.

Although not necessary, it is very much advised as the banks are more than likely to request this.

[bram stoker]

You need to insert some lines above the total. When you do, make sure the total includes every cell you wish to add in to the total.

 

If you want to send it to me to check, please do so at vampiress.bag@gmail.com

 

Good luck.

[bram stoker]

MarkSteps,

 

Send an email to vampiress.bag@gmail.com and I'll send you the spreadsheet you require.

[bram stoker]

Hi Cola - Just fill in the righthand turquoise columns of the 'Charges and Interest' sheet with the details of the interest paid. There's loads of info on doing this if you go back to page three of this thread and start reading through from there.

Hi all. Please remember also that there are notes within the spreadsheet itself.