Interest charges

[dave882]

Can anyone assist?

 

I previously had a loan which I cleared and each quarter would receive a statement showing outstanding capital, the monthly payment split into capital and interest following by the remaining capaital outstanding. I would pay say £90.00 each month and this amount would be split into increasing capital payments and decreasing interest payments.

 

I presently have a loan with the BoS who have top loaded my loan. I wish to dispute the charges and have asked the BoS to provide me with a statement showing my payments split as my previous lender but the BoS have refused point blank stating that it is too much work.

 

I therefore wish to calculate my own payments so that I can dispute the BoS charges. Does anyone know of a programme/site or the formula to work out my monthly payments in the method I wish to use. My previous lender were quite helpful when I spoke with them but could not help as they just input the figures when they start a loan and the computer calculates the monthly payments and splits the payments for capital and interest.

 

Thanks:idea:

[enamae]

Try THIS . It's American but works just the same.(remember when inserting dates to put months first)

 

After calculating details you can then view the Amortization Schedule which will split you payments.

 

 

enamae

[dave882]

Enamae,

 

This has been excellent. Thank you. I had borrowed £6500 but the BoS but my start amount as £8098. I can now use this to work out a settlment figure.

 

Cheers

 

Dave