Spreadsheet with interest

[alison19700_2]

Just downloaded the spreadsheet, but this may sound really thick but how to you use it etc?

[Seminole]

Read the instructions page! If you still have questions, please ask away but you need to have a good look through it first.

[jellybabe]

i've got the same problem.

it's the amount paid colomn. I gather, from your notes, this is not the amount paid in previous months, but the amount you are asked to pay or paid after recieving the statement.

is it the amount you have had to pay or is it the actual amount you did pay.

Or am i completely wrong and it is the amount that is left by reducing the amount you had actually paid in that month and the charges you had to your card (ie..purchases,chgs,etc.)sorry,if that sounds thick.

i tried for ages now to calculate the interest for my argos card account,and just can't seem to get a grip on it.

[jellybabe]

hello,it's me again.

filled my spreadsheet for argos out now.But not sure if i done it right.

It just seems a bit too much??

DATE PENALTY APPLIEDDETAIL OF PENALTYPENALTY CHARGED8% ON PENALTIESINTEREST DATEINTEREST ON PENALTIES8% ON INTEREST ON PENALTIESTOTALS:330.00124.16123.1242.10

I wonder if anyone would be so kind to have a look at my spreadsheet and see if i done it all the right way.

I am really trying,and don't want to annoy anyone,and am really greatful for all the help and answers and spreadsheet i received so far!

[jellybabe]

oops,that didn't come out right,did it?! :oops: :oops:

 

Try again:

 

Penalty Charged......................£330

Interest on Penalties................£123.12

8% on Penalties......................£124.16(yes, i know i don't use this until i file claim)

8% on interest on Penalties.......£42.10.

 

Doesn't that seem a hell of a lot??That would nearly double my claim, so i am sure i must have done something wrong.:-|

I read the instructions,and i used the spreadsheet i downloaded before Vampiress sent me the new one for credit cards.

Sorry for hijacking this thread.I think i better move back to mine,before i get a good telling off.

[barracad]

Spreadsheet requests

When requesting spreadsheets from vampiress.bag@gmail.com can you please include the following information:

• England or Scotland
  
• Bank Account or Credit Card
  
• Simple (8% interest only) or Advanced (8% interest + overdraft interest)
  
• Excel, Works or OpenOffice

This way your requests can be dealt with much quicker.

 

Also please remember this e-mail address is for spreadsheet requests only, any questions and comments need to be posted on the forum.

 

Thanks.

[sarah13]

hi, sorry to ask but i am using chargescalc2usingEx its column Q that is giving me problems. firstly there is a formula in the cell but it doesnt do anything its =IF(P22=FALSE,O22,0) - should it be that? also should i send the charges and interest sheet in full with my letter to request the money back?

Thanks for all your help and would like to say thankyou for designing such a great spreadsheet!

[barracad]

=IF(P22=FALSE,O22,0)

 

Please leave the above as it is - it is important and links to other parts of the spreadsheet. It does do something even if it doesn't appear to!

 

also should i send the charges and interest sheet in full with my letter to request the money back?

 

Relating to the overdraft interest, yes. Relating to the 8% interest, no. So basically just send the second sheet - save the third sheet which calculates the 8% until you start your court claim.

[sarah13]

thanks for your reply, just to clarify-

I should send the 2nd sheet without anything in the last column 'interest on penalties'? i have also made the presumption that up to the od limit is interest free- does this sound right? as there is no data in column Q should i add up H (interest charged) to give me a figure to add to penalty charge amount to get the total amount of claim? Thanks again

[barracad]

Your overdraft will certainly not be interest free!

 

Try and find out what the rate is and update the spreadsheet accordingly.

[sarah13]

you are quite right- i've called hsbc and been told that the overdraft rate was 14.8% - how shall i input this in the spreadsheet?

Thanks again

[ROB_5]

Quick question....

 

When submitting final claim including all the interest charges, what interest charges do i add on from the spreadsheet?

 

Ive got : 8% on penalties - £267 // interest on penalties - £27 // 8% interest on penalties £1.90

 

Do i add them all up then add the total to my claim??

 

Thanks

[c_allen]

HELP my heads in bits, i'm trying to work out the iterest on the charges they;ve took but want to work it out at 3 different rates(8%,overdraft rate 16.9%, and unauthorised borrowing rate 29.8%) I've tried to change the interest at the top but it doesn't make any difference. so I thought i'd work out the 8% easy enough, then times the interest by 1.09% to get the 16.9% rate, now i'm pretty certain that theres something wrong with this but don;t know what? any thoughts

[bram stoker]

Rates are not required to calculate interest on charges. My spreadsheet works by taking the interest charged and apportioning it between pentaly charges and legitimate overdraft.

 

Please do not alter any of the formulae if possible.

 

The 8% can be replaced by a contractual rate if you wish.

[c_allen]

I've tried changing the 8% to 16.9% but the interest stays the same:confused: .i'm using open office if that might be thr prob is there some math that will help me work it out manualy:|

[bram stoker]

Sorry, I don't know the Open Office one. I hope you're not trying to use my Excel spreadsheet in Open Office as I dont think it would work.

 

The maths, Each charge x 0.08/365 x number of days from date of charge to date of claim. You can replace the 8% with contractual rate.

[jellybabe]

hi,

sorry to ask,but does that mean that i can claim the 26% argos charges,instead of the 8%??That would nearly double my claim?

[c_allen]

yes you could but be ready with as much info as you can get, have a read of this thread Why is no one claiming the contractual rate of interest??? it should be helpful.

 

And no vamps i'm using the open office one ( I think/hope )i wouldn't like to have to enter all that lot again. By the way i'm owed £3516 without any interest added( £4133.58 at 8%, and around £4806.70 with 16.9% but thats a rough bit of working out using the 8% then timesing( is that a word?) by 1.09) i haven't even tried to work out what it would be at 29.8% yet:oops:

Anyway thanx for your help:D

[sarah13]

thanks for your reply, just to clarify-

I should send the 2nd sheet without anything in the last column 'interest on penalties'? as there is no data in column Q should i add up H (interest charged) to give me a figure to add to penalty charge amount to get the total amount of claim? Thanks again

 

sorry to be stupid and ask again- but should i just add together the 'penalty charged' total and the sum of all the interest charged. as stated before there is no data in the last 2 columns. This is for 1st letter requesting charges back? Thanks

[c_allen]

sorry i don't know the answer to that i didn't bother with interestthey charged it's complicated and doesn't really add up to that much

[jellybabe]

Thanks c_allen.Will have another read before i do anything.

 

Sarah13,i think to be able to work the interest out you need to know the balance of your account at the date the interest was applied.

Not all the interest you get charged is related to late payments and so on.

Thats why you can only claim the interest back that is actually related to those charges.

Hope that helped a bit.

[c_allen]

sorry vamp but do i x's 0.08 then x's 365 then x's number of days ? i know i'm being thick but my math is almost as crap as my dancing:)

[Michael Browne]

Each charge multiplied by 0.08, divided by 365, multiplied by the number of days since each charge

[c_allen]

cool now i know what i'm doing thanx:D

[jellybabe]

Ok then,worked out my interest with 16%.Not brave enough to go for the whole thing (25.9%).

Just one last thing.Read a few threads and noticed it has been mentioned that the interest list on the spreadsheet should be shorter than the charges list?

mine is almost double the size of the charges list,and i am convinced that i done something wrong now.