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Correct APR for Current Plus?


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Hi,

 

I've copied & pasted all my transactions into a spreadsheet. However I'm now stuck with trying to find out past APRs for overdrafts. According to their website, the current EAR (which I assume is the same as APR) has been 19.89% since 2nd August 2010. The previous EAR is stated as 19.24% from 28th April 2008.

 

I have downloaded the spreadsheet (CompoundSheet_v1.8.xls - not sure if that is the up-to-date version?) to calculate what the bank owes me. However I can't figure out which percentage to use. There is a field at the top of the sheet for the APR, however it seems that it is changed every year or so, so I am clueless as to what figure to use, especially as I don't have the figures for the period before April '08. I have checked the forum for information on this but haven't had any success.

 

Over the last 5 years since I have had the account, the bank has taken over £1,200 from me and as I am on benefits due to my disability, this is a huge amount of money to me!

 

Thanks for any help with helping me to reclaim those fees.

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me thinks you also need to investigate the

notice of appropriation letter

in the library tab top left of your thread

 

as for the interst info here are some links that might help you working it out

 

http://www.stoozing.com/mon2yr.htm

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks. I did send them a letter once asking for my right of appropriation with regards to a payment that I was expecting, but they ignored it at the time so I was p***ed off and didn't bother making any more claims after that. Unfortunately I recently found the letter as I was going through all my paperwork and threw it away so I have no proof. However I will send them a letter as described in your link just in case I ever go overdrawn again. Maybe I should also write in my claim that the fees were taken from my benefits which were intended to cover my costs of living, and therefore should have been appropriated anyway.

 

Calculating the interest is probably very difficult unless I find out the historical APRs, as they seem to have changed at least twice since I've had my bank account. I'll probably use an average of 19%, citing that the actual overall percentage is probably higher than that but that as a gesture of goodwill I am willing to waive any amount above that

 

Dec 2005 - Apr 2008 = ? for 28 mths

Apr 2008 - Aug 2010 = 19.24% for 28 mths

Aug 2010 - now = 19.89% for 1 mth,

 

so I'm probably fairly accurate with my calculation, although maybe the bank can tell me what their APR was before Apr 2008 so I have the exact figure.

 

I'll be starting a new thread to write about my progress. Meanwhile thanks for the support.

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