EVRi Lost Parcel - Court Claim Issued **SETTLED AT MEDIATION**

[AndyOrch]

Calculating interest under the County Court Act
In many cases you can claim interest on the money you are owed.
To calculate this, use the steps below;

 Work out the annual interest: take the amount you’re claiming and multiply it by 0.08
(i.e. 8%).
 Work out the daily interest: divide the yearly interest from step 1 by 365 (the number of
days in a year).
 Work out the total amount of interest: multiply the daily interest from step 2 by the
number of days the debt has been overdue.

For example, if you were owed £1,000:
 the annual interest would be £80 (1000 x 0.08 = 80)
 divide £80 by 365 to get the daily interest: about 22p a day (80 / 365 = 0.22)
 after 25 days this would be £5.50 (25 x 0.22 = 5.50)

If you are claiming interest under the County Court Act you will need to complete some extra
fields for step 5, including the daily rate of interest. You need to add this amount of interest
to the total claim amount and enter it in the box for ‘amount claimed’ as shown at the
bottom of the example. This ensures that any interest due prior to issuing the claim is
included in the total amount claimed. This cannot be added to the claim at a later date
without making an application for permission from a District Judge which incurs a fee.
Please note that you can use the same daily rate to calculate interest from the date the claim

 

was issued to the date of judgment if your claim reaches that stage.

[AndyOrch]