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HELP!! My calculations were wrong!


Micheyboo
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Sorry Mods for starting a new thread but I am in a panic and I need an answer to below... ANYBODY??

Taken from Micheyboo vs HSBC:

GUYS!!! I am in a complete panic, arrrrggghhhh!!! I'm due to hand in my AQ tomorrow, due on the 31st. I've just looked at my schedule of charges and thought for some reason that the spreadsheet I have been using didn't calculate the 8% interest correctly. I decided to use a fresh spreadsheet template, the simple one with 8% interest column just to check cos I am paranoid like that, and the totals for each have come out different. I understand the interest has probably increased cos it's charged to date but my total is different for some reason!!!

 

My Claim = £1974.50

Interest = £346.05

 

Total Claim on MCOL = £2440.55

 

New Calculation = £1924.50

New Interest (up to todays date I assume) = £368.08

 

AM I SCREWED??????? Will my case get thrown out or will HSBC just contest my calculations? I have decided to stick with my old spreadsheet but I am desperately worried now that I've used the wrong spreadsheet. I was sure it wasn't the one based on contractual interest. The design template also looks different this time round, has it been changed in the last 3-4 months???

 

HELP!!!

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micheyboo,

 

1st - if the AQ is due on 31st which is Sat, (and this applies to all docs due to be filed at weekends) then you have until Monday to get it in.

 

2nd - can you not compare the two spreadsheets to see where the £50 difference is?

 

3rd - what was the daily claim for stat interest, and once you have sorted out the £50 discrepancy, does it work out to the difference between the two interest figures?

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Ok, it's all rather weird but I have entered my figures into the two spreadsheets that are in the Templates sections which I think apply to me:

 

1. Simple with Interest

2. Simple from Claim Date with Statutory Interest (Vampiress version)*

 

*this is the one I used

 

I've just now put everything into a fresh Vampiress spreadsheet as I used before and it comes up with my original figures. Although Daily Rate of Interest has gone up to 50p, but if I calculate the daily rate of interest based on the "Total x 0.00022" method it comes to the rate I quoted on my MCOL which was 43p.

 

The weird thing is with the spreadsheet #1, the total still came out less than the Vampiress version to £1924.50 and daily rate of interest weirdly came to 43p too based on this total.

 

I am assuming these two spreadsheets are supposed to be doing the same thing - or am I wrong?? I was always using spreadsheet #2.

 

Bearing all this in mind I have now, I think, asked HSBC for an extra £50 by the looks of it!!! Have I been using the wrong spreadsheet all along or is spreadsheet #2 corrupted cos by using normal excel to calculate the total it comes to £1924.50 as per spreadsheet #1 and not what I am claiming for £1974.50??

 

HSBC may pick up on this so what should I do :

 

1. Stick with original spreadsheet calculation and continue as normal

2. Hold up my hands to the error and produce new schedule with correct calculations

 

Could my case get thrown out cos of this minor oversight - not even my fault though :-(

 

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would you mind if I had a look at both (or are there now 3?) spreadsheets? Its up to you but if you want me to I'll pm you my email address.

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I can send you the spreadsheets to your email.

 

There are 3 spreadsheets :

 

1. My original

2. The Vampiress Chambers version

3. The Simple with Interest version

 

If you could look and compare that would be so great of you, thanks!

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I've looked at your spreadsheets. your £50 difference is the latest charge of £50 on 25 Jan 07. I haven't checked the date you issued your claim but if it was after 25 Jan then your claim is perfect. So is the panic over? Your 8% interest claim is slightly under (I think there are variations between the different spreadies), but as long as its under and not over then you're fine. Assuming your claim is supposed to include the £50 charge mentioned then your daily rate is correct at 43p.

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Phew, I feel so silly, I've just been panicing with my AQ due and just want it all right. I was getting myself in a muddle for nothing :-)

 

THANKS SO MUCH BONG, your a star!! Guess when you are flustered like me, you get a bit blinded. Can't believe I missed that 25 Jan figure on the other spreadsheet, doh!?

 

OK, panic over, i'm ready to go, have my AQ stuff prepared and will drop off to the courts tomorrow morning. I gave HSBC a chance to settle before AQ date by writing to them but they haven't responded. It's Draft Order stage next!!

 

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