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hollyblue v abbey


hollyblue
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Hollyblue, no, don't back out - at least not without sitting there with a completed N1 ready to file. If you then think, no, can't do it - fine. But let's see if we can finish your N1.

 

Here is the step-by-step guide to filling in the N1. http://www.consumeractiongroup.co.uk/forum/bank-templates-library/681-4-particulars-claim-n1.html

 

You work the 8% interest out by taking each charge and multiply by the number days from when it was levied until today and multiply that by 0.00022. Here's an example :

  • charge = £30
  • date charged = 1 Jun 06
  • days to now = 307 days
  • interest = 30*307*0.00022 = £2.02

Do that for every charge and add up the answers (ie 2.02 etc). If you've got the spreadsheet half working, use the calculation above to check out it's working OK. Regards, Mad Nick

 

PS 0.00022 is 8%/365

PPS The daily rate (which goes at the end of your N1 Particulars of Claim) is the total of the charges multiplied by 8%/365

Abbey £8370 settled 17 Apr 07

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