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Moneyclaim question regarding 8% interest


Ricky
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Hi guys.

 

Im just filling in the moneyclaim form and I am having a few problems with the interest. My claim is for £681 which has risen to £695.90 once the overdraft interest was added. I'm having real problems working out the 8% interest on this on the new spreadsheet (I have never used the google ones before and it's quite tricky). I have tried using the guidance that states:

 

"...S.69 County Courts Act of 8% - £xxx - This is the total of the 8% interest calculated by the spreadsheets on our site. Enter the total at the date of the court claim."

 

Is there an easy calculation to work it out, when I put the figures in the spreadsheet it comes up with interest at £39.04, I cant work out if this is just the 8% on top of the £681 or of this actually includes the overdraft interest or not. I'm wondering if it might be easier to drop the overdraft interest from the claim and just got for the £681 which I would then assume would be easier to put throught the spreadsheet and would then probably result int the £39.04 interest.

 

Help... I'm getting confused.

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I decided to complete the claim without the overdraft interest added on to it. I feel I can justify the charges easier that way. I was always sceptical about working out the overdraft interest, always found it quite tricky and I would rather be 100% sure about what I'm claiming.

 

Should I send a breakdown of the charges to Cobbets yet or should I wait for them to ask for it.

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