Spreadsheet with interest

[essjaydee]

Hello thanks for the spreadsheet, just one (possibly stupid) question!

Just entered the interest parts in on the right hand columns, and i take it that it is working out rough estimate of the interest charge which is the piece you would add onto your claim total?

19.62 interest.... balance of -1,441.44 at time of interest = 7.21 that i would then add to my charges to the bank?

i also saw someone else comment about the spreadsheet not working if the balance you enter is positive? i think u advised to try to work out the average balance for the month - but what happens if the average is also positive?

Thanks again!

[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

[timkay]

I downloaded the basic Xls sheet, I have entered the statement date and amount and reason. But how do i calculate the days since offence. Do i have to count back for every transaction (about 30)? Is there an easier way to work it out?

[bram stoker]

Tim,

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

[D.R.Burgess]

Hi,

Apologies if this is the wrong place to ask this question, but at what point does the 8% County Courts Act (?) interest get applied? I ask because there are a lot of conflicting accounts (I can expand if necessary) and I like to know exactly where I stand (especially with the letter before action).

From what I've largely pieced together, I need to:

1. Send a preliminary letter with a list of charges and the approximation of interest charged, without the 8% interest.

2. If I don't get any joy, I need to send a letter/notice before action, again including the list of charges but I'm not clear whether or not I can include the 8% at this stage - I'm thinking this is, again, without the 8% added....?

3. Still no joy, I need to file a claim with the county court, at which point I can add the 8%.

Is this the case or have I completely lost it?

Many Thanks

[krakan]

Bang on as I understand it!

[Rooster-UK]

Almost right.

Stage 2...... Detail your charges along with the overdraft interest. Don't add on the 8%.

There is a letter in the templates library for this.

http://www.consumeractiongroup.co.uk...hread.php?t=92

Good luck with your claim.

[D.R.Burgess]

Cheers - much appreciated

[blinkyblinkyblonk]

I downloaded the basic Xls sheet, I have entered the statement date and amount and reason. But how do i calculate the days since offence. Do i have to count back for every transaction (about 30)? Is there an easier way to work it out?

Originally Posted by Vampiress

Tim,

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

hi vampiress,

im sorry if i may be sounding a bit thick here, but i have entered the date of the charge and the charge amount, but the formula just says #NAME?

I have the same problem as tim, i thought i had to count back the days from my first date of charges.

can you help me please,

many thanks

[barracad]

Originally Posted by blinkyblinkyblonk

i have entered the date of the charge and the charge amount, but the formula just says #NAME?

Are you using Microsoft Excel?

[blinkyblinkyblonk]

hi barracad,

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

[bram stoker]

Originally Posted by blinkyblinkyblonk

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.

[powerful_rogue]

Originally Posted by Vampiress

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.

Vampiress,

Im having the same problem. Thought I had to count back how many days have passed since august 2001!

I have downloaded the basic spreadsheet a few times but it still shows up with #NAME? in the "Days since offence" and "interest at 8%" fields.

I am using open office as I dont have excel.

Any help would be greatly appreciated.

[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.

[powerful_rogue]

Originally Posted by Vampiress

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.

Im downloading the excel spreadsheet and using it on open office.

For some reason the open office spreadsheet isnt working.

[barracad]

The Excel template will not work with OpenOffice.

You need to download the OpenOffice template and try that again.

If that still doesn't work, have you got Micrososft Works?

As a last resort, you can go to Think Free and register on that site, then upload the Excel template and use it on Think Free - it should work on there.

[blinkyblinkyblonk]

thank you vampiress and barracad for your wonderful help

i was getting the two muddled up but have now downloaded your one vampiress with the two bits of interest on
and its working wonderfully

thank you so much for your help, i appreciate it very much

i can now start proceedings on monday as now i am fully armed, well at least sorted out the interest,and have added a few more charges which have come out recently , almost £3000 with interest, blimey and thats only since last march 2005

anyway i digress

thanks again


many thanks

[robdprince]

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

[bram stoker]

Originally Posted by robdprince

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. )

[Rooster-UK]

The 8% is added at the Moneyclaim stage or filing claim if doing it manually.

In other words, as soon as you add the law to the equation then you also add the 8%.

Good luck with you claim.