Spreadsheet with interest

[andrew1]

Thanks tamadus thats a good start and I thank you. It's all those 8%'s.

 

as for the contractual rates, are you suggesting that the 'complex' spreadsheet from Vamps collection is not working correctly for the credit card accounts?

 

 

Aslo, Spuzzcake how the hell do you get that spreadsheet extract to cut and paste to the forum? Mine just posted all the numbers in no particular order and without the lines and columns, colours ect of the spreadsheet, yours looks like a simple cut and paste - is it? ( I'm using Excel in XP)

 

 

Actually, whilst I'm about it and have someones attention pray tell me this if you can.

 

I have a credit card which was closed in 2004 and sold on to a dca.

 

When I calculate the charges I just add on the spreadsheet all the dates and charges accordingly.

I also work out the interest by using the balance (- figure) and the monthly interest they charged for the whole month.

 

That being done - to what date do we set the spreadsheet? To todays date or the date the account was sold in 2004?

[spuzzcake]

@tamadus Hello and thank you for your reply. I should have put it a month behind as you said, I will correct that first. From then on do I list any interest charged just for the months that a charge was incurred or for every month on from the first charge? Also, if I have 3 or 4 charges in a single month do I list the interest 3 or 4 times or just once?

 

@andrew1 Good morning! I highlighted the area I wanted then cut, open mspaint and paste, then resize the white area to just the size of what I have cut. Then open an account at Free Image and Video Hosting - Photo Image Hosting Site : Photobucket.com or you may have your own hosting. After you upload your picture it will give you a URL for it underneath, then in your post there is a small icon at the top with a yellow background and what looks like 2 mountains click on that and put in the URL! Hope that helps - it sounds time consuming and complicated but it will only take 5 minutes the first time and less than half of that from then on.

 

Mark.

[thewifeandI]

@tamadus Hello and thank you for your reply. I should have put it a month behind as you said, I will correct that first. From then on do I list any interest charged just for the months that a charge was incurred or for every month on from the first charge? Also, if I have 3 or 4 charges in a single month do I list the interest 3 or 4 times or just once?

Hi Mark - You only enter each interest charge once - on the right hand side of the coloured spreadsheet - oldest at the top, for EVERY month since the first month with charges. DON'T leave any gaps - they don't have to line up with the charges for that month. Expect the right hand column to be shorter than the left (in most cases).

[thewifeandI]

Thanks tamadus thats a good start and I thank you. It's all those 8%'s.

 

as for the contractual rates, are you suggesting that the 'complex' spreadsheet from Vamps collection is not working correctly for the credit card accounts?

Hi Andrew - have you obtained the correct CC version of the spreadsheet, or are you trying to use the Current Account version? There's also different versions for Scotland.

 

I have a credit card which was closed in 2004 and sold on to a dca.

 

When I calculate the charges I just add on the spreadsheet all the dates and charges accordingly.

I also work out the interest by using the balance (- figure) and the monthly interest they charged for the whole month.

 

That being done - to what date do we set the spreadsheet? To todays date or the date the account was sold in 2004?

Set it to today - the interest is due from the date of each charge until the claim is filed at court.

[mummyemma]

Hi

 

I have spent the last hour working out my interest on my charges using the spreadsheet emailed to me, which was nice and easy to use. I just wonder if someone would mind just looking it over for me to make sure i have done it correctly (bit worried as found it easy to do)

 

 

 

many thanks

 

Emma

[andrew1]

Hi Andrew - have you obtained the correct CC version of the spreadsheet, or are you trying to use the Current Account version? There's also different versions for Scotland.

 

 

 

For the credit card I am using Vamps ( god bless her!) Complex credit card charges calc.xls if that's the one you are referring to.

[thewifeandI]

Sounds right then.

[andrew1]

Thanks. I'm in England rather than Scotland also.

[mebuck]

Hey.

 

Check out my thread:

 

http://www.consumeractiongroup.co.uk/forum/halifax-bank/12527-halifax-plc-reformed-irresponsible-2.html

 

I need a spreadsheet that will take into account my interest free overdraft when estimating interest on penalties. Can anyone help?

 

Cheers,

[gemmabe]

I had a student account (now expired and a normal hellifax current acct) and am using Vamp's 8% interest spreadsheet which I believe is the simple one? I think you're talking about when you go over your agreed limit then they charge you interest on the entire balance? So sometimes you would be paying interest and sometimes 0%? To be honest this bit of your claim seems more trouble than what it's worth, I have confused myself now!! I would just stick to the simple spreadsheet, unless you can alter it to accomodate your circumstances, but I imagine it would be pretty complicated to do so. Sorry

[gemmabe]

Ok now i am REALLY confused. Apologies for being thick. I actually work for an accountant believe it or not. I just don't want to lash this up!

 

OK I am using the spreadsheet labelled CALCULATION OF PENALTY CHARGES AND INTEREST CHARGES UNLAWFULLY DEDUCTED INCLUDING 8% INTEREST CLAIMED

 

My query is with the 3 right-hand columns, headed INTEREST DATEINTEREST ON PENALTIES8% ON INTEREST ON PENALTIES

 

In here I have been putting the charges from my statement described as "Interest Debited - notified last month" dated at the end of each month, for most months my account has been open. Is this correct?

 

This is the first spreadsheet I have done, as Halifax originally sent me a list of charges anyway, but last week decided to send me all my statements after I kicked up a fuss about interest!

 

Please could a kind soul confirm I am doing this correctly, or if not point me in the right direction?

 

Thank you

[thewifeandI]

Is that the coloured (advanced) spreadsheet? If so there are two turquoise areas on the second sheet ("Charges and Interest"). List your charges in date order (oldest first) down the left side, filling in all the turquoise columns for each charge. Once you've done that, enter all of the interest debited amounts (oldest first) in the right side without leaving gaps or trying to align with the charges on the left. This will give you the totals for interest charged and interest on charges. It will automatically calculate (on the third sheet) the 8% s69 interest that doesn't come into play until Moneyclaim, so ignore it for now.

 

If you need to delete anything from the sheet ONLY delete what is in the turquoise columns - the rest will be recalculated automatically.

[gemmabe]

Hi mate.

 

I am actually at the moneyclaim stage now, but this is the first spreadsheet I have needed to do as Halifax actually sent me a list of the charges after I sent in the DPA letter.

 

I have been putting everything in the third sheet, so basically I need to copy paste everything from the turquoise columns into the relevant columns in the 2nd sheet? Does it matter that my account was a 0% interest account until June 2005?

 

Thanks,

 

Gemma

[thewifeandI]

If you've been entering into the third sheet it will have overwritten the formulae there and stop it working correctly when you use the second sheet. It's best to download a new copy and put the charges into the second sheet as per my earlier post. If there's been interest charged that is due to charges it will get calculated for you.

[gemmabe]

thank you, thewifeandI.

 

I THINK I have done everything correctly now - would someone be kind enough to let me email it across to them for the once over?

 

Regards

 

Gemma

[mebuck]

I had a student account (now expired and a normal hellifax current acct) and am using Vamp's 8% interest spreadsheet which I believe is the simple one? I think you're talking about when you go over your agreed limit then they charge you interest on the entire balance? So sometimes you would be paying interest and sometimes 0%? To be honest this bit of your claim seems more trouble than what it's worth, I have confused myself now!! I would just stick to the simple spreadsheet, unless you can alter it to accomodate your circumstances, but I imagine it would be pretty complicated to do so. Sorry

 

Agreed as the overdraft limit also changes over time! I think I just need to enter the details and try and get the largest estimate possible and leave it at that. But part of me wants to screw them for a larger amount as after all, the estimate on the normal spreadsheet can't be that accurate taking into account the interest free overdraft.

[bram stoker]

Andrew1 - thank you for your kind words. Appreciated very much.

 

Mebuck - I've not been online recently but notice you sent me a PM. I'll check this, but meanwhile, the complex spreadsheet has a column for you to enter an interest free overdraft figure.

[andrew1]

andrew1 - you have almost got it worked out

 

 

The 8% only comes into effect once it becomes a court action and that is at the discretion of the court. This is the bit Bankfodder made that comment about. If you mention this earlier than the court action then is simply shows them you are not fully conversant with the sequence of events, consequently they have space to bully you. The 8% can be applied by the court to both charges and interest paid on them, thats why it shows twice on the 8% sheet., for charges and interest paid.

 

 

 

Vamp you are more than welcome - more an angel than a vampiress!

 

As for the quote. Can you just expalin the logic that if the 8% doesn't come into play until court action does that mean if the bank settled before hand they have had the use of our money at no cost? so if they took £1000 in charges back in 2002 and 80 in interest they only pay £1080 back now? can we not claim the interest we could have had if we had the money?

[bram stoker]

You can claim contractual interest from your very first letter if you so wish. If you do go down this route, you can't add a further 8% at court.

 

There is more on contractual interest rate within the forum.

[barracad]

Good news!

 

All spreadsheets can now be downloaded, using the links below.

 

Please choose the spreadsheet relevant to your claim - there are different versions depending on if you are in England or Scotland, which spreadsheet package you use, and also whether you are claiming for a bank account or credit card.

 

Bank Accounts

 

England - Simple - Excel

England - Simple - Works

England - Simple - OpenOffice

England - Advanced - Excel

England - Advanced - Works

 

Scotland - Simple - Excel

Scotland - Simple - Works

 

Scotland - Advanced - Excel

Scotland - Advanced - Works

 

Credit Cards

 

England - Simple - Excel

England - Simple - Works

England - Simple - OpenOffice

 

England - Advanced - Excel

England - Advanced - Works

Scotland - Simple - Excel

Scotland - Simple - Works

 

Please do not send any further requests for spreadsheets to the Vampiress Gmail address. Thanks.

[Michael Browne]

Can this be posted in the bank template library as well, so that it's much easier for people to find?

[barracad]

Can this be posted in the bank template library as well, so that it's much easier for people to find?

 

It already is

[andrew1]

On the complex credit card excel spreadsheet ' charges & interest page' it asks for statement balance in column H . can I play dumb here and ask is that the opening or closing balance on the statement:confused: ?

[thewifeandI]

It's the balance at the time the interest was taken - but it works better if you use the lowest balance (highest overdraft) in the month before the interest as it's possible for the account to be in credit on the day.

[andrew1]

so, i take the opening balance then reduce it by all those items which occurred on the account before the interest was added. (This is the new Advanced Cr Card SP Sht by the way)

 

My statement for 27th Dec 01 to 26th Jan 02 for example reads :

opening bal 401.63

27th Dec Late payment fee 18.00

3rd Jan Payment received -75.00

25th Jan Interest 6.90

25th Jan CPP 2.78

25th Jan Overlimit fee 18.00

 

New Balance 372.31

 

Interest rate mthly was 1.873% purchases & cash

 

The interest figures don't quite work out, but I take it I insert the 401.63 + 18.00 less the 75.00.

 

I insert a minus figure for the statement balance? ie:-401.63?

 

Sorry but I have to get this right for other claims I'm doing.