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kezzer
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first of all - hi guys - I love this site, power to the people! I'm looking to claim back around £500 in fees from First Direct over the last 2 years in overdraft charges. I've got all my statements - cos I'm slightly anal - so I'm ready to go EXCEPT I don't know how to work out what I should charge in interest.

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I'm so bad at maths I can only count to 20 if I'm wearing sandals, and yet, I managed the Excel sheet!

 

the whole point is you don't have to do any maths:

 

"In respect of" : enter "refused cheque, bounced d/d", or whatever caused the charge.

"Amount" : just write the amount, no £ sign, like this, 20.00, or 38.00, you get the idea.

"Date Incurred": written like this, 02/04/06

"Days since Offence": don't write anything, Excel will work it out.

"Interest 8% APR": don't write anything, Excel will work it out.

 

Delete as many columns as you need to between your sums and the total column, make sure you save a copy named after the bank you're pursuing (especially if you're going after more than 1). Voila.

 

Next time you open the doc, it will automatically update the accrued interest, and there you have it. No maths at all, it's all been done for you.

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Hi kezzer - email me the charge amounts and dates they were incurred - I will send back the spreadsheet readu for you to put your own details in (name and acc number etc etc)

 

Have sent you a PM too

..

.

 

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

 

 

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I might be wrong, but isn't the spreadsheet only for use when the case gets to court and you need to claim the 8% extra that the court allows? This is different to the interest that you have already been charged on the fees and are surely due back.

 

There are different lines of thought about claiming back this interest - I'm sure I've seen elsewhere on this forum the thought that in court the bank might say 'but surely we're entitled to something?' - and a good response would be 'yes - that's why we haven't claimed the interest'.

 

I have put together a spreadsheet to calculate this - it's neither pretty, clever or easy to use - but if you'd like a copy send me a PM.

 

Regards....

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You are quite right - interest on those charges is ONLY added if you have to issue court proceedings.

 

I had presumed, possibly wrongly(?), that kezzer understood this.

..

.

 

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

 

 

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thanks guys...I'd assumed the spreadsheet was for working out interest to charge to the bank for the original charges, not the interest from the date of claiming it back. Obviously, I was mistaken there. Thanks for your help anyways. I've got my preliminary letter in the post today, claiming back £589. Will post new thread and keep you updated.

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  • 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

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Thanks

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