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    • Thanks Dx,    For some further information, the holiday was booked as a package holiday for 2. One of the 2 had to be changed, and changing costs £700 for a new flight as "tickets had been issued and they cant do a name change". I cant quite figure out how compensation works for things when it comes to package holidays.    From what I can tell  - The plane was due to land in Turks and Caicos to drop off passengers, something happened during descent, resulting in technical fault.  - The rest of the original flight from Turks & Caicos -> Montego Bay was cancelled  - A New flight was put on today, which was then delayed by 1.5hrs aswell  - Hotel was provided for the night after much hassle.  - 1.5 days, 2 evenings of holiday lost  If I understand correctly, since the original flight (LHR -> Turks -> Montego Bay) was cancelled, they are both entitled to a refund on that full flight? I can't quite work out if they are only entitled to a refund for the equivalent of Turks -> Montego Bay, or for the full LHR->Turks->Montego Bay, since it was issued as one ticket/all Virgin, and they should have arrived yesterday..?)  I can't work out how to get the cost of that compensation, or whether its a set figure, and how the loss of days of holiday is factored in   I am aware:  If you received less than 14 days’ notice of the cancellation, you are generally due compensation, awarded in pounds or euros depending on where your flight was due to depart from, according to the following scale: £220 / €250 for all flights of 1,500km or less (e.g. Glasgow to Amsterdam); £350 / €400 for all flights between 1,500km and 3,500km (e.g. East Midlands to Marrakech); £520 / €600 for all other flights (e.g. London to New York). Compensation will be reduced by 50% if the arrival time of the replacement flight doesn’t exceed the arrival time of the original flight by: two hours for flights of 1,500km or less; three hours for flights between 1,500km and 3,500km; four hours for all other flights. So I "think" its £520pp for the flight part as compensation (7500km)... but some sites say its a full refund for the flight... is it both?  Thanks,  Ryan  
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A New Way of Looking at Interest- 1st successful Claim - N'wide


BankFodder
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Yeah - that oughtta do it !! Go on, have some fun at their expense for a change !!

 

There's nothing more upsetting to a 'receptionist' than to be reminded that he/she's just a mere receptionist !!

 

Unfortunately, the monkey doesn't realise that the organ-grinder calls the tune !! They learn, eventually, though !!

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It would be funny but I don't think I could do it. I'd be forever worried that she might lose her job or something.

 

I don't think she'll be in that job for long, anyway, if that's the best she can do. You'll just be hastening the inevitable, and enabling her to proceed to the next stage of her life.

 

Know wahat you mean, though. This is MCOL, and we do want them on OUR side, don't we ?

 

Bigger cages to rattle. Onwards & upwards and all that !!!

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In the hopes that more are subscribed to this thread, I'd like to repeat the question from my own [Vs HSBC] thread.

I received from the courts my N1 form back, stamped, along with a 'notes for the defendant' booklet. Since I received the form back, I did double check to make sure I got the 'claimant' and 'defendant' names in the right bit - I did.

My concern is that if I received this, did HSBC receive the Notice of Issue instead, and if so, will this delay the 14 day period some more?

 

Cheers,

 

Doryphor

Halifax: FULL REFUND

_________

Lloyds TSB: FULL REFUND

__________

HSBC Current Acct: FULL REFUND

__________

Capital One (three accounts); GE Money (Mothercare); GE Money (Burton):

Getting round to sending off first letters...!

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Have replied on my own thread, cheers Bong!

Halifax: FULL REFUND

_________

Lloyds TSB: FULL REFUND

__________

HSBC Current Acct: FULL REFUND

__________

Capital One (three accounts); GE Money (Mothercare); GE Money (Burton):

Getting round to sending off first letters...!

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Guest peed orf

G'evening all,

I'm trying to discover, when doing the spreedsheet for contractual interest, you use the daily rate, or the monthly rate?

Anyone know?

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G'evening all,

I'm trying to discover, when doing the spreedsheet for contractual interest, you use the daily rate, or the monthly rate?

Anyone know?

I used Mindzai's myself, then modified one of Vamps earlier ones. I haven't actually used one of the new Google ones, yet. But as far as I can make out, you just punch in the annual rate, and the spready works out the interest for you from that. It is generally accepted that the interest is calculated on a "compounded daily" basis, though.

 

HTH

 

Bill.

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Guest peed orf

Hi, my delemor is.... 8% = £10,000ish, Compond = £31,000ish and Contractual = £37,000ish!!!

That seems like an awful lot to me! (not saying I don't want it) but they do say " if it sounds to good to be true, it usualy is"!

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Well, peed 'orf, before this I'd have had to agree with that sentiment. However, this whole concept of the little guys against the big guy seemed a little, well, Lilliputian to me. Seems to be working tho...!

Halifax: FULL REFUND

_________

Lloyds TSB: FULL REFUND

__________

HSBC Current Acct: FULL REFUND

__________

Capital One (three accounts); GE Money (Mothercare); GE Money (Burton):

Getting round to sending off first letters...!

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peed'orf could you post up your total charges and first charge date so we can get an idea of whether this looks ok. Although I have to say if the statutory interest is coming out at £10k then it is a large claim and you wouldn't expect the contractual interest to come out at anything less.

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Hi, my delemor is.... 8% = £10,000ish, Compond = £31,000ish and Contractual = £37,000ish!!!

That seems like an awful lot to me! (not saying I don't want it) but they do say " if it sounds to good to be true, it usualy is"!

That's an awful lot.

 

One common error is that 8% should often be typed 0.08 not 8 etc.

 

Not saying you have made an error, but I would check if I were you.:)

[

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Hi, my delemor is.... 8% = £10,000ish, Compond = £31,000ish and Contractual = £37,000ish!!!

That seems like an awful lot to me! (not saying I don't want it) but they do say " if it sounds to good to be true, it usualy is"!

 

PO - I do believe a lot of people - including myself - couldn't believe the difference that contractual rate compounded made. I really do think that the sheer difference has made a lot of people bottle out because they really could not believe their own eyes or their own figures. I personally think someone like Bankfodder should make a major pronouncement with this in mind, to reassure those who still cannot believe it. It has come true for a lot of people now, I believe. I have had 2 moderate wins so far at the full rate - nothing huge - but no argument (£150 & £600) and no haggling.

 

As Vamp says, though, your 8% seems a little on the large side, so why not send in some figures for her t check - or just a copy of the spreadsheet line showing your oldest charge as an example ? The guys here will be able to gauge from that if there's an error somewhere.

 

Or maybe you've found it already !! (eg: x 8% = x 0.0)

 

But don't walk away from contractual compounded rates unless you're really sure !!

 

HTH

 

Bill.

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Guest peed orf

Hi all, thankyou for your replies.

The claim will be against HSBC, and I do want to screw every penny I can out of them (had time to think!) as, the result of these charges have left me with a high rate mortgage, and other financial problems over the years.

The claim is also a little more complicated, as part of it is over 6 years old, and partcialy eastimated!

My 1st charges are Sept 1990, £45.40, 8% interest is £58.81. Using the daily rate button, compound interest is £3,093.59. However using the monthly rate, interest is £2.02.

I'm quite willing to send a copy of the speedsheet to Vampiress, if it will help.

The 37.000ish is the total of charge + interest, I misread it!:oops:

The total of the claim, without interest is £5,331.97

I've only used the ready made speedsheets.

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P'O, I've just entered your figures in mindzai's compound interest spreadsheet and seem to get very different results, although I don't know what interest rate you're using, so I used 30% for a highest case scenario.

 

on a charge of £45.40 01/09/2000 I get £22.62 for 8% simple (statutory)interest.

 

I get £187 on that charge for compound interest at the daily rate of 30%.

 

maybe you do need to get someone to look over your spreadsheet?

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Guest peed orf

Bong,

Just came from the HSBC pages, the speedsheet I used was identical to the one posted yesterday that you were helping with.

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There seems to be a big difference then in the interest calculation - I just put your figures into the Mindzai spreadsheet too, and got £58.97 in 8% (simple) interest, £849.56 in 29.84% (compound) monthly interest, and £3104.62 in 29.84% (compound) daily interest - that's a massive difference between monthly & daily interest :o

 

(NB, using 29.84% just as an example)

 

In my current RBoS case, I have £2.7k charges going back to 2000, and the diff between daily & monthly interest is ~£1k....

 

Cheers

 

Michael

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yeah, I think the banks method is to compound the interest daily so why not us?

 

Oh absolutely - I'm not saying that we shouldn't :) It's just that's a highly noticeable difference - hadn't seen it demonstrated so effectively before. Not that the banks will see any other calculation figure for comparison :D

 

Cheers

 

Michael

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unless they're spying on us right now:p

 

Of course - nothing to see here though...;)

/me wanders off singing "Here come the Men in Black....."

 

Cheers

 

Michael

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This sure is a good demonstration of how compound interest creeps up, innit ?

 

No wonder people blink at their figures, and doubt them.

 

FWIW My spready agrees with your figures above Bong & Mcuth, so we're all sitting here blinking.

 

PO's original figures as posted were well high, but he seems to have got it sorted, now - just can't believe it, that's all !!

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Hi all, thankyou for your replies.

The claim will be against HSBC, and I do want to screw every penny I can out of them (had time to think!) as, the result of these charges have left me with a high rate mortgage, and other financial problems over the years.

The claim is also a little more complicated, as part of it is over 6 years old, and partcialy eastimated!

My 1st charges are Sept 1990, £45.40, 8% interest is £58.81. Using the daily rate button, compound interest is £3,093.59. However using the monthly rate, interest is £2.02.

I'm quite willing to send a copy of the speedsheet to Vampiress, if it will help.

The 37.000ish is the total of charge + interest, I misread it!:oops:

The total of the claim, without interest is £5,331.97

I've only used the ready made speedsheets.

 

I think you need to tread carefully here.

 

What is the total of the charges arising in the past 6 years?

 

Are any of the charges in the past 6 years estimated?

 

What proportion of the charges over 6 years old is estimated?

 

How have you calculated your estimate?

 

You can try to get older charges refunded but it's tricky. Trying to do this on an estimated basis is likely to fail unles the estimated proportion is very small.

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