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MCOL question please help!!!


TEL999
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Hello all,

 

Regarding the MCOL stage im a bit confused.

When writing the particulars of the claim do i put in the daily rate.?

Im getting confused about stating that im claiming the 8% and then it says to put the daily rate in multiplied by 0.22 - why is this ?

Also do i work this out by adding the charges and the interest and multiplying this by the 0.22?

 

If somebody could explain this to me i really would appreciate this greatly.- and do I have to do this in order to complete this correctly?

 

Thanks all

 

Tel.

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Hi Tel

 

To work out the amount of interest you are owed up to the date you start the claim, you first need to work out the daily rate of interest. Using a calculator do the following:

 

0.00022 x the amount of your claim.

 

This gives you the daily rate of interest. You then need to work out the amount of interest you are owed up to the date you issue your claim. Count how many days have passed since the money became owed to you and multiply that number by the daily rate of interest.

 

For example,

 

If you are owed £1,000, the rate of interest would be as follows:

0.00022 x 1,000 = 0.22 .. So the daily rate of interest is 22p.

If the debt became owed to you on 7 March and you are filling in the claim form on 26 April, 50 days have passed.

 

So, 50 x 0.22 = 11.

 

You can add £11 to the amount you are claiming. The total figure for interest and the amount you are claiming must be entered in the 'Amount claimed' box in the bottom right-hand corner of the claim form. The fee you will have to pay to issue your claim will be based on this figure.

 

In your 'particulars of claim'. Write your claim in the following way:

'The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from [date when the money became owed to you] to [the date you are issuing the claim] of £ [put in the amount] and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of [enter the daily rate of interest].

 

Hope this sorts out your question. I am on and off here all day. If you get stuck to to the Her Majesty's Courts Service - Home website and check there.

 

Ukaviator

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Hi Tel

 

Sorry i'm a bit late, got held up with work. I have Pm'd you some details to use.

 

Uk. . .

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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