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Found 10 results

  1. There's no point in whining about them. We know they're ripping the public for all they can, any way they can. 58% rates, 28 day account periods when almost everyone gets paid monthly nowadays. My wife has a debt of £2096 with Marisota and I don't know how much with Very. (She says she doesn't know the password! I'm resetting it.) And a credit card, and who knows what else hidden. She doesn't work, I have to pay everything. I want to work out a prediction of where this will all go unless dealt with now. I can use spreadsheets but I'm not sure how they calculate the minimum amount. T's&C's say: The word is INITIALLY. That insinuates there will be something different later. Or is it so simple as 4% of the £2096? That is £83.84 but they are saying amount due is £251. How is it worked out? Thanks.
  2. On behalf of a friend, she need's advice with the following scenario please: She is a 35 year old female with a child. -she is joint owner of a property (about 33.3% share ownership with both her parents), she does not live their nor do they pay her rent for her share in the property. (no mortgage) -she is sole owner of a 2nd property that she currently lives in with her child (mortgaged) Her plan is to rent a property (and rent out her 2nd property) and is not sure how long it will take her to find employment when she relocated and therefore, may need help with rent......(housing benefit) Does anyone know how housing benefit is calculated? Do they take into account she has to pay a mortgage on her 2nd property but will have excess left over each month from the rental income? e.g. mortgage of 2nd property is £500 Rental income on 2nd property is £800 Surplus is £300 Rent on new house is £1000, therefore, would housing benefit pay her £700 top up? And would it be a 2 bed LHA rate, as she has a child? Any advice would be greatly appreciated, thank you
  3. I have today received a letter from GE stating that the interest on my interest only mortgage has been calculated incorrectly It states that the interest should be calculated daily and charged monthly , however it has been calculated monthly and charged monthly This has come out of the blue and contains no actual calculation and a credit has been charged to my account I recently had an experience with Royscott Finance , and because they had not supplied annual statements I received the full amount of interest charged over a 2/3 year period. Have I got any rights to get the interest back or any form of compensation in relation to this ? Any advise would be greatly received Thank you in advance
  4. Hi guys! I've been reviewing a car credit agreement I am currently paying, I was originally trying to calculate my own settlement figure using the Actuarial method. However, it seemed to me that in the interest figures stated on the Credit Agreement don't quite add up: Payment setup is as follows: 1st Payment of: £250.00 (arrangement fee) 59 payments of: £316.20 Final Payment of: £511.20 (includes credit facility fee) When I calculate the interest due using the 26.98% figure, my total payable is always much less than my agreement says it should be. Who's wrong, me or the agreement? And in any event, what formula is used to calculate interest on this type of finance?
  5. My father has a house which has what is classed as 6 bedrooms however one of the rooms is a what you call a box room as all you can fit in there is a single wardrobe and a single bed and a small chest of drawers. I have been watching Benefits Britain and recall that a man had one of his rooms measured for bedroom tax and it was said that it was too small to fulfil the criteria. Is this the same for council tax?
  6. There must be somewhere (online preferably), that I can find out the formula and criteria for the tax credits calculations - working, child, child care? We call the tax credits help line, give all our details, and they just seem to enter it into a computer which spits out the result. They can't (or won't?) give us any clue as to what effect a change in circumstances will have, just tell us to wait for a letter. It's obviously quite a complex calculation, but I can't seem to find any real detail on it, either it's a secret or I'm useless at searching! Does anyone have a link to the information?
  7. A colleague received one of Parking Eye's charge letters - he overstayed by some 20 minutes in a free car park which serves a supermarket and several other shops (they just didn't finish their shopping in time) . I gave him the letter suggested on CAG particularly asking how the charge was calculated - affixed is their explanation ! Unless I'm missing something - I cannot understand how staying longer in a car park that is free anyway - has cost the landowner any money ?????
  8. There is a job which will take me one hour and twenty minutes to travel to. However, there aren't regular trains to this particular destination, which means that I will have to leave home at 5:45 for an 8:00 start, which would make the travel time two hours and fifteen minutes. If I catch the next train then I would be around half an hour late. How do DWP calculate the travel time for travelling to a job? Do they just measure the amount of time actually spent travelling, or is time spent waiting for your job to start once you reach your destination included as well? My concern with this job is that they are asking for my bank details up front via e-mail. I have never met the person I am corresponding with and other than an e-mail address there is no other contact information. For all I know the job doesn't even exist and was posted on UJ to acquire bank details. If the travel time can be used as a reason for not taking the job then I will use it.
  9. A friend has received (no really is a friend ) an indication from Financial Ins Company that they will pay his claim for PPI but the amount is incorrect he has all his statements and they have asked him to supply copies and they will recalculate as it is from before he will only get simple interest per annum. How do we calculate this ? Is it from the first year or from when the amount is closed ? Thank you
  10. Right, I noticed that my annual statement had come through for my car, for whatever reason I analyzed it. Ive just pulled the statement and the original agreement and it states the following Sum borrowed £12950 rate 6% per annum Interest calculated sum borrowed and admin fee of £199 Total interest is £4010.40 On reverse working this I have found that its either been calculated over 61 months not 60 or the rate is actually 6.1% The statment ssays its a 60 month agreement however the hp agreement says its a 61 month agreement but with 59 payments of xxx and one payment of xxx IE just a 60 month agreement. Confused....
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