Thread: HELP!!!Trying to work out value of my claim including 8% interest.

Hi all
I am filling out form N1 and wondering is it VITAL to get all the figures ABSOLUTELY correct at this stage, I am having a bit of difficulty if anyone can advise ....
My PPI was £2021.33
interest to date £1819.77
Total = £ 3841.10

So....from that ....worked out that the monthly figure i was paying was £64.01
so...put this through the bank charges calculator to get the 8% stat.interest....which came out at £1026.93

Now on the printout from the calculator page it shows my "charge value " in the first column as £4416.69 .....shouldnt this be the same as the figure highlighted above?...(my total of £3841.10)
Have I done something wrong.....it is so confusing!
PLEASE ! Can anyone help.....I am meant to hand from N1 in at my local court tomorrow

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bump

Thanks Bog, I think i have found out where the problem was....
dont know if this makes sense...
Loan over 16yrs...still active and nearly 6 yrs into the loan...variable rate
Loan amount 18k and 2021.33 added for PPI at start.
in working out the equivelent "monthly rate" I was told to calcuate by taking cost of ppi + interest to date £2021.33 + £1819.77 = £3841.10 and divide by 60 to reach this figure...ie..£64.01,
so it was £64.01 I put through the calculator on each payment date, but on the calculator I should have stopped putting in the charge of £64.01 on the 60th month....ie, July 2007...I think at that point the figures add up, but I had kept adding the £64.01 to date....when I should not have added the charge but just the interest.
Dont know if that makes sense to you ....but I think thats where the mistake lies.
Do the figure have to be absolutely spot on or is there room for minor differences ....do you know?