Spreadsheet with interest

[trigger99]

Hello!

Thanks for the very helpful spreadsheet, started off my claim nicely.

Forgive any bad etiquette this is my first time!

When filing in the column for interest charged, do I include the interest charged ONLY on months when bank charges are made? There was one amazing year in six when they did not charge me bank charges (but they did interest!). Do I leave this period of interest charged out of the spreadsheet?

Thanks again,

Trigger.

[Lizbrind]

Hi,

 

I have been using this extremely helpful spreadsheet but had one query on the interest charges calculated using Vamp's enhancements.

 

This thread has answered a few queries I had already, but one outstanding question I have is related to how it handles the interest in a month when charges were levied on multiple days in the month. If the interest figures are entered on each charge then the sheet calculates a refund of interest each time. i.e. Charges on 3 different days equates to counting the interest as owed back 3 times.

 

Am I right in thinking this isn't right and I should just enter the interest figures against the last charge of the month?

 

Thanks!

[thewifeandI]

Hello!

 

Thanks for the very helpful spreadsheet, started off my claim nicely.

Forgive any bad etiquette this is my first time!

 

When filing in the column for interest charged, do I include the interest charged ONLY on months when bank charges are made? There was one amazing year in six when they did not charge me bank charges (but they did interest!). Do I leave this period of interest charged out of the spreadsheet?

 

Thanks again,

 

Trigger.

Still include the interest - it could be caused at least in part by the fact that your balance was lower than it would have been if previous charges hadn't been deducted - the spreadsheet will work out what percentage is due to charges.

[thewifeandI]

Hi,

 

I have been using this extremely helpful spreadsheet but had one query on the interest charges calculated using Vamp's enhancements.

 

This thread has answered a few queries I had already, but one outstanding question I have is related to how it handles the interest in a month when charges were levied on multiple days in the month. If the interest figures are entered on each charge then the sheet calculates a refund of interest each time. i.e. Charges on 3 different days equates to counting the interest as owed back 3 times.

 

Am I right in thinking this isn't right and I should just enter the interest figures against the last charge of the month?

 

Thanks!

If I understand what you are asking here correctly, then all you need to do is enter the interest debited from your account along with the date it was debited and the relevant balance at that time (or the lowest value for that month if it was in credit on that date).

[Lizbrind]

If I understand what you are asking here correctly, then all you need to do is enter the interest debited from your account along with the date it was debited and the relevant balance at that time (or the lowest value for that month if it was in credit on that date).

It's more a case of how the sheet works when there are multiple charges in the same month. Take the following example:

- Charges are extorted on the 3rd, 15th and 25th March.

- Interest is applied on 30th April (Halifax). e.g. £6.

 

The spreadsheet will then have 3 lines for the 3 charges and then be claiming the interest back 3 time. i.e £18 interest claimed back rather than the £6 charged. While we can make the argument that the overdraft wouldn't be there if it wasn't for the charges, I suspect we'd struggle to claim it multiple times.

 

For now I'm going to go with only entering the interest figures against the last charge of the month.

 

Or do you think that's the wrong thing to do?

[thewifeandI]

It's more a case of how the sheet works when there are multiple charges in the same month. Take the following example:

- Charges are extorted on the 3rd, 15th and 25th March.

- Interest is applied on 30th April (Halifax). e.g. £6.

 

The spreadsheet will then have 3 lines for the 3 charges and then be claiming the interest back 3 time. i.e £18 interest claimed back rather than the £6 charged. While we can make the argument that the overdraft wouldn't be there if it wasn't for the charges, I suspect we'd struggle to claim it multiple times.

 

For now I'm going to go with only entering the interest figures against the last charge of the month.

 

Or do you think that's the wrong thing to do?

I think I know what's going on now...

 

What you need to do is to put the charges in on the left side of the sheet in date order, oldest first. Then go back through the statements putting in the interest debited in the righthand side of the sheet, but don't try to align it with the relevant charges, just list it down with the date and balance - this lot will (probably) be shorter than the list of charges - it doesn't matter.

[Debt Girl]

I'm not sure I've done this correctly. My interest on penalties is £212.19 and my total penalty charges are £2125. Does this look right?

 

[thewifeandI]

I'm not sure I've done this correctly. My interest on penalties is £212.19 and my total penalty charges are £2125. Does this look right?

Looks OK from here.

[Debt Girl]

^ thanks so much - just needed to make sure

[happymummy]

Can anyone help? I cant get the template to open, just keeps coming up with file format invalid. I dont have a clue what I'm doing!!

 

I'm not claiming any interest back as I dont have an OD, but I can charge them 8% on what they've charged me is that right?

[Guy]

Using the spreadsheet on credit cards.

 

I didnt have statements just a list of charges and the dates. Instead of calculating teh ineterst on the first page of the spread sheet i calculated the APR (eg one card charges 1.313% per month or 15.75% per year. To calculate the total interest charged for this particular card i just put 15.75 in the second page (replacing the 8%). I did some rough manual calcs an the figures work pretty close.

 

So in effect i have a total cahrges figure plus the interest they have charged on those charges.

 

So now i have claimed MBNA total charges plus the ineterst at their specific rates per card.

 

This is teh amount i will put in my Money claim when i file.

 

Does this sound reasonable / over simplified or completely wrong??

 

It added several hundred pounds to the total claim (one card was 22% APR)

[Guy]

God my spellnig is bad!!

 

Well its the wireless keyboard with dodgy batteries and what looks like tomato sauce inbetween teh keys.

 

Must ket the kids thier own puter!!

[Lizbrind]

I think I know what's going on now...

...

 

That sorts it. Thanks!

 

This spreadsheet is even smarter than I thought

[Jane Austen]

Guy,

are you saying that if I replace the formula on the 8% part of the spreadsheet then I can calculate more accurately credit card interest?

 

Does this affect the calculation for interest on the first page?

 

I have just filled everything in but I notice my APR is 19.9%.

 

Any help appreciated.

[jolajo]

Hi, I hope you can help?

Firstly can I say, please dont get the impression by my questions that i am lazy! i have been struggling for 2 months with the process.....blame it on the depression!! I seem to of hit hurdle after hurdle!!

 

The problem i have or problems, should i say are....?

 

I have never looked at/seen a s/sheet before let alone used one?

I have been library but the 2 books completly baffle me?

 

I cannot find your s/sheet with the notes on??

 

When I attempted to download from exel it read....file cant open due to lack of disk space???? Defraged still wont? Another member has been trying to help as i pasted figures to her to apply on sheet....she got same message.? Her advice was to contact you, which i have sent a pm explaining my history.

 

I have had a number of late pay charges from my utility company's over a £100 can these be claimed for as the bank had refused to pay them?

My Inc Support/Incap Ben/Child Benefit was completely took for their charges 3 weeks in a row and quite a few weeks where they took a large portion of my benefits? Can the absolutely genuine distress caused by their illegal actions be compensated for?

Sorry changed topic oops!

Any help offered I will be eternally grateful, thanks to' KATIESAGIE' for trying x

[gizmo111]

Hi,

 

Is the spreadsheet supposed to print in red - or have I got a printer problem?

 

Thanks

[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.

[jolajo]

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

[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.

[thewifeandI]

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.

No probs, it's been enjoyable to pass on my experience and help others out! Thanks for the Rep!

 

The only area I've stayed away from is the subject of interest charges on CCs, although I'm about to claim on the first of many soon, so I'd welcome your input.

[thewifeandI]

Hi,

 

Is the spreadsheet supposed to print in red - or have I got a printer problem?

 

Thanks

I wouldn't expect it to - sounds like you are out of ink of one or more colours or got a clogged printhead in your printer. Check your ink levels and if they are OK, run it through a cleaning cycle (see your manual for instructions).

[gizmo111]

I wouldn't expect it to - sounds like you are out of ink of one or more colours or got a clogged printhead in your printer. Check your ink levels and if they are OK, run it through a cleaning cycle (see your manual for instructions).

 

Thanks - it was something to do with the ink - took my 11 year old daughter to fix it for me!

[dave&sueb]

Hi,

I am not sure if I am using this forum correctly so please forgive me if this thread isn't where it should be.

Anyway, it would seem logical to me that to bank customers that have interest free o/draft or no overdraft facility. the whole of any charges including interest on o/drafts can be claimed back in full. The premise I am using is this.

Ignoring the issue of charges for a moment.......The bank has total control over what it pays out of your account...ok.

Therefore, if they exercised their right to refuse a payment on the basis that this would be unauthorised borrowing then customers would never go overdrawn or over limit to begin with !!!

It follows therefore, that when debits are allowed that result in a customer going into unauthorised borrowing.......this is a conscious decision by the bank.!!

are you with me so far?

Right ......now then.....it can be easily seen that the decision to allow a debit to be paid that will knowingly send your account into unauthorised borrowing is a calculated measure designed to attract the automatic penalty charge.!!!! get the drift ??

 

This would seem to be a form of 'constructive default' analogous to 'constructive dismissal' where the bank is deliberately allowing you to breach their conditions in the knowledge that they will profit from it!!! and I am wondering if there might be a legal precedent.

Would appreciate anyones thoughts as it could be useful in court!

[ROB_5]

Hi,

 

2 days to go until i send LBA. I dont mind admitting i'm really struggling with the spreadsheet.

 

Problem 1) How do i know what the interest rate was charged to put in the column "interest charged" on the spreadsheet. On my statements it just says the amout of £ debited and the balance.

 

At the end of each month on my statements it says "Interest debited £2.11" etc etc.

 

Should i just total these up and use this as the interest charged??

 

Could it be that easy??

 

Hope someone can help.

 

Rob

[thewifeandI]

Hi,

 

2 days to go until i send LBA. I dont mind admitting i'm really struggling with the spreadsheet.

 

Problem 1) How do i know what the interest rate was charged to put in the column "interest charged" on the spreadsheet. On my statements it just says the amout of £ debited and the balance.

 

At the end of each month on my statements it says "Interest debited £2.11" etc etc.

 

Should i just total these up and use this as the interest charged??

 

Could it be that easy??

 

Hope someone can help.

 

Rob

Hi Rob,

Enter the amount of interest charged into the righthand side of the enhanced spreadsheet. In the blue columns, enter the date the interest was charged, the amount debited and the lowest balance for the month that the interest refers to (either the same month or the one prior to it). The spreadsheet will work out how much was due to the accumulated charges on that date and the amount will show in the yellow column. This is all assuming that you have entered all the charge information into the lefthand side of the sheet (ALL entries are made on the Interest and Charges sheet). Don't forget to enter all this information in date order, oldest first with no gaps.