Thread: No Interest charged...Student

Hi I have been a student for most of the last 6 years and it seems I have not been charged more then maybe £5 in total in interest for my charges even though they equal over £1046, is this possible and am I reading this right? Also if this is the case how do I enter this into the template letter? Also the interest at 8% APR is not claimed until the second letter? is this correct??

Similar Threads:

• Interest Charged after Judgement
• Interest charged on closed accounts?

Hi Mate

Before you go any further have a read of the guide and the FAQs

You need to use one of the spreasheets in the templates section to add up your charges and it will calculate the 8% interest for you.

Please read the guide and the FAQs as someone has lost over £600 in interest by not reading the guide and forgeting to add it at court stage.

READ READ READ - Dont lose your money for the sake of spending a week getting to know the process

I have read it all throughly but I cant get my head around the interest situation.

The 8% isn't applicable until it gets to the court stages right? in my schedule of charges there are no charges listed as interest apart from the odd 20-30p every few months. Could this been down to the fact I had an interest free overdraft facility as a student or is the interest included in the charges that are listed as OD excess fee?

The interest is on your charges, not the interset the bank gives you

Which spreadsheet template are you using?
If you use the basic one all you do is enter your charge amoubts and the dates and it automatically calculates the 8% interst for you.

Ok thanks for your help, I think I'v got it now... fingers crossed