Jump to content


style="text-align:center;"> Please note that this topic has not had any new posts for the last 3638 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

I have a friend in a bit of bother and although we have most of everything all sorted the issue which gives most hassle is the CCJ 8% interest and how it is worked out.

 

Briefly friend has business and buys goods from supplier on a weekly basis, payment went unpaid for a number of weeks as he thought he could catch up at a later date. There is no doubting the debt owed or the Court fees.

 

The interest claimed is on the whole sum owed approx £1800 and goes back to when he first started trading. My argument is that the interest should be worked out on a rolling sum eg bought goods first week £100 - interest for 7 days, next week bought £150 goods - interest then on £250 for 7 days, up until the last week he traded when total owing was nearly £1800 total - yet again interest for 7 days at this total.

 

I appreciate it may be easier to do it for the whole term but I thought you were not supposed to make financial gain from this.

 

Thanks for listening

 

PT


Please consider making a small donation to help keep this site running

 

[sIGPIC][/sIGPIC]

 

Share this post


Link to post
Share on other sites

1. multiply the debt by 0.00022

2 multiply the result by number of days

 

Gives the interest 8%


The next generation Nintendo Wii - the Nintendo Puu

Share this post


Link to post
Share on other sites
1. multiply the debt by 0.00022

2 multiply the result by number of days

 

Gives the interest 8%

 

I have that but want to know what sum of money you use. As said originally first week may have been £100, second £150 + first week = £250 or can they charge on the whole sum owed for the whole time.


Please consider making a small donation to help keep this site running

 

[sIGPIC][/sIGPIC]

 

Share this post


Link to post
Share on other sites

The 8 % should be worked out on each figure separately from the date that figure was owed and not on the total debt from the date of the first figure

Share this post


Link to post
Share on other sites

Very grateful, that is what I thought but was unsure.

 

PT


Please consider making a small donation to help keep this site running

 

[sIGPIC][/sIGPIC]

 

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...