DAVECRASHER vs NATWEST

[davecrasher]

On my bank statement it says:

 

Your intrest rate for borrowing upto £600 on this account is 14.99% PA.This is the credit zone rate.Should your overdraft exceed this level the excess will be charged at our unarranged borrowing rate,currently 29.5%

 

On the Microsoft excel advanced spreedsheet,the column cell saying intrest charged,what number do i need to put in,i really want to get this right and am very gratefull for anyones help.

[davecrasher]

Right,Have added up all my charges in the spreedsheet,it comes to £4039 without any interest,i know i cant add the 8% yet,but would like to add some interest to this amount,as you can see from my above posts i am struggling to find the right way of going about it,please please help.

[Parkvale]

Dave,

Work out where each charge is situated. i.e. Whether they are in your unauthorised 14.99%. rate. (authorised )or your unauthorised rate. 29.5%.I worked it out the difficult way with each charge put through the Calculator A bit long winded , but accurate.

[davecrasher]

Parkvale,

Thankyou again

 

One more thing and then i will leave you alone i promise.

1: The to date-is this the last day of the month when the interest is calculated ?

2: Do i set it at compound interest or simple interest

3: If it is set at compound interest,do i set it at daily weekly or annually?

4: Set % Above Base-do i set this at either 14.99% or 29.5% depending where the charge is situated.

[Parkvale]

1-yes

2-compound

3-annually

4-at both depending which charge applies

You can ask me as many questions as you like Dave. If i can help i will.

[davecrasher]

Thankyou once again Parkvale-You are a superstar:D

[Parkvale]

Superstar ?

[davecrasher]

Hi,

A quick update. Sent Request for repayment of charges on the 26th of march 2007,and heard nothing.Sending LBA tomorrow.

 

Interest under s.69 County Courts Act 1984-does this mean the 8% you add when claiming your money back through the courts.

 

Cheers

 

dave

[davecrasher]

Hi again

 

Have found my answer in another thread lol

 

Dave x

[davecrasher]

Had a text message today from Natwest asking me to call them urgently(didnt know they had my mobile number)

I rang them and asked what was the urgency?

They told me my loan was in arrears by one month,i have enough money in the bank to cover the arrears,so told the person to take the arrears out.

He then asked me if i would have sufficent funds to cover this months payment at the end of the week,I said "no,dont get paid till next wednesday"

So to my amazement thinking here we go another charge,the person said what we will do is increase your overdaft to cover this loan payment,and then over the next three months you can pay us back in equal payments.

I said "Ok,Thanks"

 

Natwest have never ever offered to increase my overdraft to stop me getting charged.

 

Are Natwest usually this kind-I dont think so.

 

Are they trying to soften me. Ha ha-no chance

 

Davex

[davecrasher]

Sent LBA on the 11-04-2007 recorded delivery.On the 22-04-2007 i had a look on royal mail reference tracker so i could print off the signature,to my horror the refernce number was not recognised, i tried phoning the royal mail but it seems to be all automated and they dont give you any answers to why my letterwas not sent.I have had to fill in a form for a lost letter throught the royal mail.

The 14 days is now up on the LBA that they should of recieved through recorded delivery.

Do I

 

1:Phone natwest to see if they recieved the LBA

2:Send another LBA

3:Go straight to the mcol

 

The post office said it can take upto 3 weeks to track the letter.

 

Any advice would be great

 

Thanks Ahead

 

Dave

[scott150663]

i would proceed to mcol or your local court but i would give them a few extra days grace.

 

 

Scott

[davecrasher]

Ok-thanks scott,and congratulations again:D