help

[Lisa Bowater]

Ok. I am about to send the prelium letter for £1,045.00 do i include the £5 admin charge?

 

I have not included the 8 per cent interest do to the current statge nor the standard interest as i could not work out the spreadsheet i just thought, i'd rather get it right, so i just claimed for charges.

 

Am i guessing the charge for the interest taken back by halifax for the bank charges wont be that much anyway and therefore have done the right thing?

 

Lisa x

[beano2]

Hi lisa,

 

Had trouble with the interest myself, found a simple interest calculator at this address

 

http://www.consumeractiongroup.co.uk/chargeinterest.php

 

It seemed to work for me and was easy to use, i'm on mac and couldn't use the spreadsheet at all

 

cheers beano

[Lisa Bowater]

Thanks,

 

the 'to date' is that todays date or the date they charge me interest?

 

and do i do that for each bank charge? or is this the calculation i use before the MCOL?

 

sorry i just worry

[nona]

Lisa,

you only add on the interest charge when you file MCOL or N1, Not before. If you use the spreadsheet which has blue and yellow columns on either side you type in the date of the MCOL file then each charge and the date it was incurred and it adds it all up for you.

 

Hope this helps

Nona

[Lisa Bowater]

Thanks Guys,

 

It does help.

 

What about the overdraft interest you charge before court action, i tried to use the spreadsheet but could not work it out

 

Also when working out the daily rate once you submit the MCOL when do you start the charge for the daily rate and stop it?

 

Thanks

[Michael Browne]

the 'to date' is that todays date or the date they charge me interest? Yes

 

and do i do that for each bank charge? Yes, it will make a list, but you can't save it. Copy and paste it.

 

or is this the calculation i use before the MCOL? It calculates the interest that you can claim once you have filed at court

 

It really is preferable to use the Simple s/s if you can since:

 

1. The online calc is calculating at 7.3% instead of 8%

2. Once filled in and saved, it will update the 8% to todays date every time its opened.

3. You can use the s/s (without the last 2 columns) as your schedule of charges to send with the prelim and LBA letters

[Lisa Bowater]

Thanks, I think i got it.

 

Ok i have picked the s/s which includes contractual interest and not statutory, and is asking me to changed the 8 per cent to my banks unauhtorised or authorised overdraft rate? whats this?

[Michael Browne]

No idea, you'll have to ask the Halifax or maybe another Halifax user can answer that.

[beano2]

hi lisa,

 

just found this link

 

http://www.consumeractiongroup.co.uk/forum/nationwide-successes/7056-juicy-nationwide-i.html

 

you may find it helpful, the bits about interest are on page 2 but the whole thing is worth a read, although its against nationwide not halifax still some useful info from tinkerbell on thread.

 

cheers beano

[Lisa Bowater]

thanks all, ok about to send the prelim, should i add the £5 admin fee?

[Michael Browne]

thanks all, ok about to send the prelim, should i add the £5 admin fee?

 

No, the Data Protection Act S.A.R - (Subject Access Request) gives notice that you will claim the fee back, but it's a cost so you claim it at court filing.

[Lisa Bowater]

ok. Thanks guys.

 

You have all been a big help and i wont forget it when i come to make a donation!