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Statutory Interest - I'm confused


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It doesn't take much to confuse me, but-


When is statutory interest applied to a claim, and how does it work?


My understanding was that it could be applied as simple interest (not compound)

at 8% from the date of termination of the account until judgement was passed.


Now this is where you are all going to laugh at me!!!


What confused me was during the Dispatches program when 'Mark' from Marlin was talking about charging orders pointed to his screen and said 'We own 17 grand of that house, and it's going up 8% every year'



I'm in the DCA kicking business ..........and business is good!!!!

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