Jump to content


How to work out Interest (not for court claim)


Snorkerz
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 6601 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I am looking at submitting a claim to HSBC (though I guess it's the same for all banks) and I have noticed that they are currently charging me 25% interest on unauthorised overdrafts - and often my account has been overdrawn because of the fees.

 

My account has been both in credit and debit since it opened about 3 years ago, which makes a simple calculation of 'interest charged on illegal charges' very difficult. I guess one could then look at interest charged on the interest ad-infinitum - but that would be silly.

 

Has anyone come up with an easy-ish way to work out this interest?

 

If not - can anyone confirm that a daily interest rate would = the published interest rate / 365?

Link to post
Share on other sites

I worked mine out monthly,

 

amount of interest they charged me / amount I was overdrawn end of previous month x amount of charges

 

Not sure if that is the right way to do it but it seemed logical to me!! lol

If you find my post helpful please click on the scales at the top. Thank you

FAQ SECTION HERE

 

Halifax Bank Claim filed and settled

Halifax Credit Card settled

Argos Store Card settled

 

CCA requests sent to

Halifax Credit Card

LLoyds TSB Credit Card

Capital One

Moorcroft (Argos)

NDR

18/06/09

Link to post
Share on other sites

Don't know yet, but I'm pretty sure if its wrong they'll jump on it pretty quick!

If you find my post helpful please click on the scales at the top. Thank you

FAQ SECTION HERE

 

Halifax Bank Claim filed and settled

Halifax Credit Card settled

Argos Store Card settled

 

CCA requests sent to

Halifax Credit Card

LLoyds TSB Credit Card

Capital One

Moorcroft (Argos)

NDR

18/06/09

Link to post
Share on other sites

Sorry i'm lost, i'm trying to work out the interest on each individual charge at 25.5 apr, since 2004 each at different stages, it's getting late and my maths isn't at it's best, how would i calculate this???

 

Please???

 

Carli

Link to post
Share on other sites

  • 12 years later...

This topic was closed on 03/07/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group

Link to post
Share on other sites

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 6601 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Guest
This topic is now closed to further replies.
  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...