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Help needed please


Karish
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Hi Can anyone help me with this. I have completed my charges spreadsheet. On the letter that I need to send the following sentence is included..

 

 

 

What I require

I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

I enclose a schedule of the charges which I am claiming with this letter

 

How do I calculate the figure for the overdraft interest? I have used the simple spreadsheet. Do I have to include overdraft interest?

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Hi Karish,

 

There are two rules of thought with this. 1) don't bother with the overdraft interest, it normaly won't come to much.

2) use the advanced spreadsheet to work it out. It is a little more complicated than the basic one but it does all the working out for you.

 

My claim is for just under 9k but the overdraft interest was just £16.00 so I did not bother with it.

 

Simcap:-?

 

 

 

If this is helpful please click on scales in bottom left of screen. Thank you.

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As an alternative view, if you are claiming contractual interest and the charges are more than a couple of years old then interest you charge on the interest you paid will amount to a tidy sum.

 

I reckon simcap made a mistake when working out the interest. The spreadsheets dot understand how the interest vs balance relates and can give a misleading figure.

 

If you had 9ks worth of charges its impossible to pay only 16.00 bearing in mind the unauthorised o/d rate for abbey is 28.7% and other banks are similar.

 

I'm not saying its a fortune, only that its probably worth looking at before deciding whether to claim it or not. Incidentally it is your money they took when all is said and done.

 

Glenn

Kick the shAbbey Habit

 

Where were you? Next time please

 

 

Abbey 1st claim -Charges repaid, default removed, interest paid (8% apr) costs paid, Abbey peed off; priceless

Abbey 2nd claim, two Accs - claim issued 30-03-07

Barclaycard - Settled cheque received

Egg 2 accounts ID sent 29/07

Co-op Claim issued 30-03-07

GE Capital (Store Cards) ICO says theyve been naughty

MBNA - Settled in Full

GE Capital (1st National) Settled

Lombard Bank - SAR sent 16.02.07

MBNA are not your friends, they will settle but you need to make sure its on your terms -read here

Glenn Vs MBNA

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