Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)



Last Will and Testament Kit


Make a legally valid will without the fuss and expense of a solicitor - includes a full step-by-step guide.

£9.99 + £1.50 (P&P)

BAILIFFS - The Law and Your Rights

Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.

The book is easy to understand and clearly explains the rights a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.

£13.95 + £2.00 (P&P)


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  1. 10th April 2007 13:18 #1
    lindylou1974 lindylou1974 is offline
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    Default Contratual Interest

    Hi

    i have managed at last to fill in the spreadsheet for contratual interesticon, however i still have some questions.

    Do i charge the current interest rate for all the charges?

    How do i work the correct interest rate out, i only have a monthly interest rate?

    Thanks forthe help in advance

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  2. 11th April 2007 11:10 #2
    MrBump MrBump is offline
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    Default Re: Contratual Interest

    yes, use the current rate. It seems to be 14.9%, but may be different depending on which card you had. Best thing to do is call them and find out, or check on your original T&C if you have them.

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  3. 11th April 2007 13:59 #3
    lindylou1974 lindylou1974 is offline
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    Default Re: Contratual Interest

    Hi
    Thanks for replying

    My current monthly interesticon is 1.873%, do i times this by 12 to find out my annual rate?

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  4. 11th April 2007 14:44 #4
    MrBump MrBump is offline
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    Default Re: Contratual Interest

    Maths was never my strongpoint I'm afraid - I'd just call them, find out what the current rate is and use that.

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  5. 12th April 2007 03:57 #5
    Didge Didge is offline
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    Default Re: Contratual Interest

    I've just Googled that monthly rate and it seems to be coming up with an APR of 24.9%
    HTH

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  6. 12th April 2007 03:59 #6
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    Default Re: Contratual Interest

    yep just take the monthly rate & *12

    dx100uk

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  7. 12th April 2007 23:45 #7
    lindylou1974 lindylou1974 is offline
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    Default Re: Contratual Interest

    Thanks for your help

    Lindyx

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  8. 13th April 2007 11:39 #8
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    Default Re: Contratual Interest

    Quote Originally Posted by dx100uk View Post
    yep just take the monthly rate & *12

    dx100uk
    This is not quite so simple. To convert monthly to yearly use the following formula:

    yearly rate = ((monthly rate + 1)^12)-1

    The rate should be expressed as a decimal. Therefore

    Yearly rate = ((1.87+1)^12)-1
    Yearly rate = 0.249. So as a percentage is 24.9 %.

    To do it the otherway around i.e convert yearly rate into monthly rate use the following:

    Monthly rate = ((1 + yearly rate)^(1/12))-1

    or to convert to daily rate

    Daily rate = ((1 + yearly rate)^(1/365))-1

    Hope this is clear. LOL

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  9. 18th April 2007 23:59 #9
    electric lemon electric lemon is offline
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    Default Re: Contratual Interest

    Im looking to go for contractual rate, but need to find out if anyones been successful with B'card yet?

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  10. 18th April 2007 23:59 #10
    electric lemon electric lemon is offline
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    Default Re: Contratual Interest

    For contractual interesticon that is!

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