Please,please Help Me If Possible

[Millsmania]

Good evening everybody i really need help with the 8% interest can you please inform me what to do my total charges calculate to £830.00 with the interest before court action making the total £948.97,am i supposed to multiply £830.00 x 0.00022 = 0.1826........and also does the interest start from the 1st charge, if yes then this for me is 11/08/2005 which makes 1411 days from then until i hand it in next friday,do i then multiply 0.1826 x 1411.....I really would like so advice help etc,i havent found one spreadsheet which helps me......Any help would be appreciated thank you

[**Tilly**]

Hi millsmania

 

Have you tried these Interest calculation spreadsheets

 

The interest starts from the date of your first charge to when you file your claim.

 

on your poc under the following

Accordingly The claimant claims

 

a) The amount of charges

b) The amount of interest

 

you put the date of your first charge up to the date you file your claim.

and also interest at the same rate up to date of judgement or earlier payment at a daily rate, xxxx

 

Tilly

 

[slick132]

Hi Mills and welcome to CAG.

 

As Tilly says, use the site spreddy - select the Bank Charges, Simple Version if that suits.

 

The spreddy will calculate the 8% int't for you on every charge when you enter the charges and the charge dates as required. That will give you the total claim sum.

 

To get the daily increase for Statutory Interest from the date you file your claim, multiply the total claim (chgs + int't) by 0.00022. This gives you the daily add-on amount which you put on your Form N1.

 

[Millsmania]

Thank you both of you,i really do appreciate the fantastic help which i have recieved,may i ask is it acceptable to send an attached templated version of the P.o.c or do i have to handwrite all of it?

[**Tilly**]

Hi Mills

 

You can download the poc here Particulars of claim - N1 - Updated 24th June 2009

 

You will need 3 copies of each, also you will not be able to save them, so once you have filled them out print of your 3 copies job done

 

 

 

Tilly