Spreadsheet with interest

[bram stoker]

That's your choice, and I won't push you, but to be clear on this to others, people are already claiming contractual interest and the banks are paying it.

 

If you think about it, why wouldn't they? Their only alternative is to go to court and defend their charges, which they won't do.

 

Good luck to you all - whatever you decide.

[MissMorningStar]

OK..

 

Having looked at them all and being a thickie.. whats the difference between contractual and compounded contractual then?? The contractual one looks same as statutory one..is this so we can change and put our interest rates with our specific banks? Still, that still leaves me unsure what compounded one is??

 

Sorry...lol

[bram stoker]

Compounded Compound interest - Wikipedia, the free encyclopedia

[Kizzyella]

Hi Vampiress. I have googled your spreadsheets, but when I "file/save as" your "throughout claim with compounded contractual interest" sheet, and then open it, I have just got a completely blank page? What am I doing wrong? I have Office Excel 2003 and Windows XP Professional.

[Kizzyella]

Disregard my last question. I wasn't following your instructions properly, sorry!

[Enron]

Wonder if anyone can help, Citi Card have made a partial refund - the difference between charges and £12.

 

Should I calculate my totals including interest and then deduct the amount?

[bram stoker]

Wonder if anyone can help, Citi Card have made a partial refund - the difference between charges and £12.

 

Should I calculate my totals including interest and then deduct the amount?

No. Enter the charge as normal, then enter the refund as a negative charge with the correct date etc.

[bobtheb]

Hi vampiress on the excel spreadsheet credit card,when calculating 8% interest.if the right hand columns are longer than the left,it appears to confuse the formula.I have put some extra dates on the left hand side and this seems to have solved it, was this the right thing to do ? Also,all the columns suddenley changed to "ref" I just deleted these,was this correct?

p.s Keep up the good work:)

p.p.s sorry I also sent this to your e-mail last week but I know you are very busy

[bram stoker]

The credit card spreadsheet should have equal lengths both left and right. There is only one date per row to enter. Treat each row as a summary of your statement details, one row per month.

[bobtheb]

I thought I had read several times on here that it didnt matter if the number of charges was differant to the number of months as long as you put them in order and left no gaps?

[bram stoker]

I thought I had read several times on here that it didnt matter if the number of charges was differant to the number of months as long as you put them in order and left no gaps?

You did, but in reference to the bank charges spreadsheet. The credit card one is different.

[bobtheb]

oops i had better start again:mad:

[traceyrmj]

abbey have not given me the balance at the side they have just printed off the date, detail and amount ( and the transaction code like csh, swt etc) do i have to right to force them to give me the full into or will i fall foul with this. do they do it specifically so i cant work out the interest? i have about 8 months of regular statements that list the interest and charges seperatly, do i work those out and try and estimate the interest charges previously? im cunfused!

[D.R.Burgess]

Hi,

 

I'm a little confused (well, actually I'm very confused) and I hope someone can help me.

 

I'm in the process of using the Enhanced Spreadsheet for calculation of interest charged on charges (this IS NOT the 8% bit - I know that comes later).

 

I've got two accounts that I'm trying to get my money back from. With one I've been charged just over £140, and the interest due is coming out as £7.12. On the second account, I'm owed nearly £400, but the interest is coming out as £4.54.

 

The way I've input the interest charged/balance at period end is that I've put in the required information for each month that I was charged. Is this all I need to do or do I have to input the interest for every single month (regardless of whether or not I was charged)?

 

If the latter is the case, I've hit another problem where I have months where I have been charged interest but because the balance is in credit it doesn't show any interest owing. Also, I have one set where a £16 charge is accruing about £3 in interest over the first four months.

 

Any Suggestions?

 

Many Thanks!

[thewifeandI]

Assuming this is for a bank account...

 

For each month after the date of the first charge, enter the interest debited. Enter the balance on that date if it was overdrawn, otherwise enter the lowest balance (highest overdraft) since the previous interest debited date. Don't try and line up the interest with the charges - you don't have to align the charges with the interest.

 

If it's for a credit card, see Vamp's posting #534 above.

[barracad]

I've got two accounts that I'm trying to get my money back from. With one I've been charged just over £140, and the interest due is coming out as £7.12. On the second account, I'm owed nearly £400, but the interest is coming out as £4.54.

 

 

If the £400 charges were more recent than the £140 charges then this is possible. If not, then you may have miscalculated.

[traceyrmj]

wanted to reword my last query a little if i may, over 5 years of transaction history, there is not one opening or closing balance, i know the overdraft rate i was paying was 9.9% i know we were in overdraft perpetually ( as that is now we ran that account, or mis-ran that account) i am thinking of adding the following passage to the prelim letter...

 

" as you failed to provide me with complete information under my S.A.R - (Subject Access Request), i have no opening and closing balances for the years 2000 to 2005 and therefore cannot extrapolate the interest i was charged on the charges i am now disputing. i have therefore calculated 9.9% ( the preffered overdraft rate i was on having paid in £1000+ a month) against the whole of the principal sum. if you will provide me with the details i requested under the SAR in full i will recalculate from those figures and adjust my claim accordingly. please note that should this claim come to court 8% interest willbe added to the entire amount under s69....."

as my figure is £620.00 this makes it £681.38 but that is just lumping the 9.9% on the top of the lump sum is that the way to do it?

[barracad]

If you used the SAR from this site then they have provided what you asked for - a list of charges.

 

If you don't know the balance you can still make a claim including contractual interest - there is a spreadsheet in Vampiress's Chambers to cover this scenario.

[traceyrmj]

have had a look at the spreadsheet suggested, when i try and save to my computer ( not happy about putting in my details online) it doesnt save the formulae also it keeps giving me online errors and i keep loosing it all i know it is probs really easy but im getting all flustered abotu this.

can someone explain how the charges interest whould work in theory? i can adjust my own spreadsheets in if i know the formulae also is it simply that on a £30 charge the interest is charged at 9.9% or is ti that you take the first £30 charge and add 9.9% interest then add the second £30 charge and add 9.9% interest on the £60+ interest already accrued?

 

im well confused here.

[ecobabe]

sorry edited this, I posted in wrong place.

[bram stoker]

have had a look at the spreadsheet suggested, when i try and save to my computer ( not happy about putting in my details online) it doesnt save the formulae also it keeps giving me online errors and i keep loosing it all i know it is probs really easy but im getting all flustered abotu this.

can someone explain how the charges interest whould work in theory? i can adjust my own spreadsheets in if i know the formulae also is it simply that on a £30 charge the interest is charged at 9.9% or is ti that you take the first £30 charge and add 9.9% interest then add the second £30 charge and add 9.9% interest on the £60+ interest already accrued?

 

im well confused here.

I'm not sure about the exporting, but all the formula are there in the template to view and copy if you wish.

You will see them by clicking in the cell, and looking at the bottom right of the

spreadsheet.

[Mindzai]

have had a look at the spreadsheet suggested, when i try and save to my computer ( not happy about putting in my details online) it doesnt save the formulae also it keeps giving me online errors and i keep loosing it all i know it is probs really easy but im getting all flustered abotu this.

can someone explain how the charges interest whould work in theory? i can adjust my own spreadsheets in if i know the formulae also is it simply that on a £30 charge the interest is charged at 9.9% or is ti that you take the first £30 charge and add 9.9% interest then add the second £30 charge and add 9.9% interest on the £60+ interest already accrued?

 

im well confused here.

 

If you have excel try the one in my sig

[LES VOGEL]

Hi if you are having problems with any spreadsheets- then you could always work with this formula- whatever the interest rate you want to use for e.g 8%= then you multiply the charge (£15) by the 8%=£1.20 x how many yrs the charge goes back to e.g 6yrs then its £1.20 x 6yrs=£7.20 plus £15.00=£22.20. remember to do this for each charge whatever the amount and the same sums are done with any amounts of charge and different % rates. this advice is only a guide for you to use- i think even if you work out the amount on a daily basis it comes to round about the same-if in doubt always round the figure up to your advantage=7.20 becomes 8 if you see what i mean. cheers LES

[Bigmac versus]

Been thinking for a while now which route to take s.69 or contractual and have decided today to use vampiress spreadsheet for contractual interest, ive always managed in the past to solve any probs ive had without asking anyone but i am stuck and cant seem to solve this one. Like tracyrmj when i try to save spreadsheet so i can edit it i get disconnected from my aol connection (every time i try) sole aim is to get a spreadsheet for contractual int without the need to put in the interest they charged me for going o/d.

[Michael Browne]

Mindzai has an excel s/s "Compound Version v1.5 xls" download here:

Dedicated free file hosting upload storage space - CompoundSheet_v1.5.xls