Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



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)


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  1. #1

    Default query about interest...

    Hi, i need help again! I am just sending in the preliminary letter and the spreadsheet of charges to the bank, and have a query about the interest i can claim for? Nearly every month when i am overdrawn i have a charge of 'Interest to 12 July' (for example) and can range from 79p to £8.59. Can i include this interest on spreadsheet?

    Also, on the letter, it says ''i calculate you have taken £XXXX plus £XXXX interest; total £XXXX''. What is this interest? Is it the aforementioned monthly interest, or does it refer to the 8% contractural interest which i understand you leave off for now?

    Hope this makes sense and hope somebody can clear it up for me!

    Thanks

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  2. #2

    Default Re: query about interest...

    Quote Originally Posted by dizzydolly View Post
    Hi, i need help again! I am just sending in the preliminary letter and the spreadsheet of charges to the bank, and have a query about the interest i can claim for? Nearly every month when i am overdrawn i have a charge of 'Interest to 12 July' (for example) and can range from 79p to £8.59. Can i include this interest on spreadsheet? NO, but see below

    Also, on the letter, it says ''i calculate you have taken £XXXX plus £XXXX interest; total £XXXX''. What is this interest? This is overdraft interest that can be DIRECTLY ATTRIBUTED to penalty charges Is it the aforementioned monthly interest yes, or does it refer to the 8% contractural interest which i understand you leave off for now No, and yes you do leave it off?

    Hope this makes sense and hope somebody can clear it up for me!

    Thanks
    First off....you really shouldn't split your threads up, makes it hard to keep up. I'm sure I've covered this before in your main thread, or somebody has, or maybe it's just that the same questions get asked over and over and over and......

    The entry INT TO A/C xxxxxxxx is your monthly overdraft interest repayment. It is comprised of both authorised and unauthorised (if you went over-limit) interest attracted by your overdraft.

    But because your overdraft will be mainly used for normal day to day things you can only claim back the portion of the INT charge that can be DIRECTLY ATTRIBUTED to penalty charges.

    The advanced spreadsheet will calculate this if you give it enough information, but it is a minefield and IMHO not worth the risk of getting it wrong for what will probably be quite a small gain.

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