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.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[feralkat]

Hi again,

Once again, I've read through the threads but don't see anyone else with the same question.

Like many other people, I recieved copies of statements from 17/03/00 - 19/09/01. From 19/09/01 - 10/04/06 I recieved 'statement entries' which just detailed any charges/fees that had been levied against my account.

I have internet banking but am only able to look back until 07/03 so am unable to correctly fill in the spreadsheet kindly provided by Vampiress. I understand that I need to input what my account balance was at the time? Do I have to go back to Lloyds to request copy statements so that I can get this information?


Many thanks in anticipation for your help.

Feralkat

[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.

[meagain]

I have an interest-free overdraft facility, where the agreed limit has varied between £1000 and £1750. How should I account for this on the sheet?

Should I:

1. use the balance as stated? This then puts the interest calculation off, since it is not charged on the whole balance.
2. add whatever the limit is to the balance? This would be preferable for reading, as I can note the limit alongside, though would depend on whether the sheet calculates credit interest too.
3. if the balance is between the limit and nil, consider the balance as nil? This produces correct calculations (since if the balance is in this range I neither pay nor receive interest)

Thanks

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[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.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[meagain]

Originally Posted by Vampiress

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.

For now, since the interest column isn't populated when a zero or positive balance is entered, I have entered -0.01 to allow the entire interest charge to be added.

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 have adjusted this to reflect my banks' unauthorised lending rates, which I should be able to claim before going to court (after all, they have effectively borrowed my money, all I am doing is calling it in - like them, I'm entitled to charge interest on that loan).

We'll see where that point goes, but I've established that taking the interest-free balance into account, the amount of excess interest has increased 600%

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[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.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[meagain]

If the spreadsheet file format weren't so inconvenient, I'd try fixing some of those things myself.

[Spiceskull]

Originally Posted by meagain

If the spreadsheet file format weren't so inconvenient, I'd try fixing some of those things myself.

Do you not have access to Excel? If not there is an alternative spreadsheet for use with Open Office. That said, this is only a clone of the original Excel one - calculating the charges, the dates since 'offence' and the 8% APR element.

I won't make any promises, but if you would like me to have a go at converting Vamp's spreadsheet to Open Office I'll give it a shot!

[meagain]

Originally Posted by Spiceskull

Do you not have access to Excel? If not there is an alternative spreadsheet for use with Open Office. That said, this is only a clone of the original Excel one - calculating the charges, the dates since 'offence' and the 8% APR element.

No, I meant the internal format was inconvenient. If I make some improvement, and Vampiress wants to incorporate those changes in the master copy, she would have to repeat whatever I've done manually. In collaborative programming projects, which tends to use plain text, all I'd need to do is send a diff, which lets other people make the changes automagically.

Incidentally, my spreadsheet of choice is Gnumeric, which (like OpenOffice.org) will handle Excel files with only the required disdain.

[vix2000]

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?

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[bram stoker]

Originally Posted by vix2000

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.

[lee6370]

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

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[bram stoker]

Originally Posted by lee6370

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.

[krakan]

Right lad(y/ies) - quick question:

For the life of my account I have so far had either no overdraft or a 0% interest one. I moved from a kiddie account to a student account to a graduate account. I've a suspicion that part of my overdraft wasn't actually 0% (fag packet maths on interest charges - bearing in mind I exceeded my non-overdraft a bit,) but nothing, anywhere, seems to support my theory so I am left having to assume that the entire overdraft is interest free.

So, it seems to me that the interest I've paid is likely to be £0 more than it ought to have been - I'd only have paid interest on monies borrowed in excess of my agreed limit. It seems reasonable that interest charges would apply to this.

Would this mean that I should leave the second sheet empty, and include no mentions of interest charged when I make my initial claim to the bank? Naturally I shall be filling in the third (8%) sheet when the dreaded moment comes, but I can't see any way in which the second applies..

Just wanted to check, this isn't my usual line of work after all! (though if anyone has a business that has computers that want fixing I'll be glad to help

Anything but direct and unsubstantiated insults regarding my appearence are gratefully accepted..

Krakan

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[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

[colour-me-happy]

Hi I just wanted to say thanks for the new and improved spreadsheet! I'm only just getting round to claiming at court and was getting a bit daunted, math is not my best subject! It is very easy to use.

Your efforts are much appreciated

[thewifeandI]

I've just used the new spreadsheet and added almost 10% to my wife's basic claim. What I ended up doing was to use the lowest balance in the preceeding month as the balance, especially as in many months there was a credit balance at the date the interest was deducted. If I didn't do this I ended up with no interest to claim back in that month even though I was being charged interest (if you see what I mean). I'm sure that my method doesn't skew that figures too much - it is only an estimate based on the data available (and without access to a mainframe data centre ).

Also the way HFX charge their interest is not (usually) for the current month, but the one preceeding it. I took this into account when I calculated the balance to use.

Anyway, thanks for the spreadsheet - I was wondering the best way to claim this related loss back.

Cheers.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Fred_Funk]

Vampiress,

Thanks for the spreadsheet. However, there remains a question to which, I suspect, I am not the only one seeking an answer.

What's more, I have trawled all around the site and while I do not doubt it's out there somewhere, I'm buggered if I can find it!

Anyway, it's a simple question - at least, it is if you know the answer...

From where does the second lot of interest, ie the one you claim only if things go as far as court, derive? And, more to the point, why is it only applicable if things go that far?

Like I say, I'm sure there's a (relatively) straight-forward answer but I'm a journalist not an accountant or a legal expert and I'm blowed if I can work it out.

As ever, thanks in anticipation,

Fred_Funk

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[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.

	Materials library Follow this link to our library where you can use our templates and other references free of charge. You must be registered to use them - but registration is free.