Spreadsheet with interest

[essential_mixer]

there are only six columns you need to fill in.
statement date - obvious
detail of penalty eg late payment charge / over limit charge
penalty charged eg £20 £25
interest charged, which you have
statement balance, which you have as new balance
amount paid, which is payments

thats it. the spreadsheet does the rest. i hope that helps.

[Tilerdon]

Sorry Essential

I really don't see how this works unless you include a penalty charge entry of zero for each statement that has no penalty charges

You are paying interest on the previous charges in every month - assuming you are still in debt and there isn't any date/value look up as in the Bank charges spreadsheet

I maybe thick but i need some convincing

[essential_mixer]

tilerdon, yes that is correct. you will need to enter even those months which you did not have a payment for. this is because the spreadsheet needs to calculate how much of the interest is still due to previous charges which have not been fully paid off yet.
i feel i should say, you honestly do not need to fully understand how the spreadsheet works to claim the money back. i can assure you that as long as you enter the information i have told you to put it, the spreadsheet will calculate the correct figures for you.
then all you need to do is to write the credit card company the letter before action, ask for the interest charged total (yellow box at the top), interest on penalties total (yellow box at the top again). if they dont respond within the allocated period, you add the 8% interest.

fill in a few rows and you may start understanding how the spreadsheet works. i remember thinking it was overly complicated but it really isn't. try filling in some of it and i think you will feel a bit more confident.

[dph1976]

hi all
sorry if im in the wrong post but it looks like the right place
i have just filled out the complex spreadsheet
its great i have no idea how it works but it does
my problem is this
having just spent 2 hours putting in all my charges interest, balance etc
i had also put in miss sold ppi then i found out it would be a seperate claim so would need to be done on its own spreadsheet
which is fine
but is it going to be the same template or is there one for ppi claim

thankyou in advance for any advice

DH

again sorry if i am barging in on the post

[essential_mixer]

i'm afraid i don't know if there is one for ppi. i would have a look in some of the other sections of the site, i'm prett sure there is one for ppi somewhere.

[dph1976]

hi
thanks for the advice
i will keep looking
i think it would be the same format
the interest calc should be the same

DH

[Tilerdon]

DHJust write and claim your PPI, you probably can't work it out anyway. I just claimed it and they have paid me a sum which is premiums and 8% interest. I feel I should have been repaid interest i then paid them on the premiums but am having to argue this through the FOS

[retrospect]

advanced credit card england spreadsheet:

"Column I, AMOUNT PAID, should be the amount paid in respect of the balance, not the amount shown on the statement in respect of the previous month"

eh?

also if i enter the amount i have credited my account by into the 'amount paid' column, the spreadsheet deducts that figure from the amount i entered in the 'statement balance' column. The spreadsheet then presumes the result of this simple sum to be the new balance, but there are other transactions taking place on the account such as spending and credits not entered into the s/s. So the amount in remaining balance is never correct! - I have left the 'amount paid' column blank and this seems to result in a more reasonable result.

[angel1977]

Hi All, this is what i think i should be doing with the interest spredsheet, could someone tell me if i'm doing it right.
For example i have a charge in June so for the statement balance i would take the balance from mays statement then what i had paid against Junes balance from julys statement is this right?
Also if i dont pay that month do i just leave it 00.00?

[theformerdebtor]

Hi all.
I can see that lots of questions regarding this calculations!!!!!! and, I may have one
Does anibody notice that the England - Simple - Excel/Bank Accounts isthe same as England - Simple - Excel/Credit Cards?
I hope this is not a big mistake, cos you know guys we dont have a sort code and bank account on a credit card. Is just the credit card number.
Thanks

[tnook]

My case was stayed like all the others. My claim went back six years from then which was back to 2001. Can I claim the interest that far back now, or can I only go back six years from now to 2003?

[maxine989]

Hi all

Interest... How do I change the 'sum' on the spready from 8% to the 29.9% capital One have been applying to the charges they have added to my account.

... Or is that not how I work out the interest they have charged me on the charges??

Sorry to sound confused. I'm getting there... slowly, ha!

[maxine989]

Originally Posted by maxine989

Hi all

Interest... How do I change the 'sum' on the spready from 8% to the 29.9% capital One have been applying to the charges they have added to my account.

... Or is that not how I work out the interest they have charged me on the charges??

Sorry to sound confused. I'm getting there... slowly, ha!

ah... think I am using the wrong spready... need the one with the extra columns... any one got one they could direct me to??

[Certified Home Inspector]

Helo spam, actually i take an loan from bank to purchase a new home and for that home i hired a home inspector.. actually http://equityinspection.com/ site helps me lot but i hired inspector from other site and found him fraud.. tell me what can i do against him??

[pumpytums]

Hi everyone,
I have finished filling in the complex bank charge spreadsheet thanks very much for creating that. However I have noticed something (please ignore if this has been mentioned before)

Basically the spreadsheet uses the cumulative charges takes them off the current balance and uses a ratio of

(corrected balance/actual balance)

* months interest

to calculate the proportion of the months interest thats owed to you.

This is great however I feel that this proportion of interest should be fed back into the calculation so its cumulative so we get

(corrected balance+cumulative charges interest)/actual balance * months interest

This will give more interest on the charges as the calculation will take into account the cumulative charges. I will try and modify the spreadsheet to do this.

Thanks

Pumpytums


Please ignore the above, I have just realised that the method would be compound interest which is a can of worms.

[Clare1981]

Oh my goodness... I am completely lost here!!!

Im using the excel advanced to try and claim back something on my overdraft interest. I also have some unplanned overdraft interest??!! Is this the same??

I dont even know where to start... is there a simple way of explaining it to me???

Sorry to be a pain