Interest, HELP!

[Maxwell1986]

Have been meaning to send off my claim for too long now, but one things confuses me and that is the interest you claim?

 

Firstly do you have to claim the interest, I mean I don't have to claim anything but how does it work? the 8% for each charge from the date of charge?

 

Or can I jus claim for the charges added to me account only, without contractual interest?

[hedgey06]

At prelim and LBA stages, you 'hide' the column on the spreadsheet (schedule of charges) that calculates the s69 8% interest oweing on each charge. If you file your claim at court - you 'unhide' the column on your schedule of charges to show the 8% interest and add this onto your claim from the date you file at court.

 

s69 8% interest can only be awarded at the discretion of the courts - and it's completely different from contractual interest.

 

If you haven't done so already, you should enter all of your charges into one of these spreadsheets 6. Interest calculation spreadsheets ......... just in case.

[Maxwell1986]

Thanks very much, I am now all ready to post my Prelim, fingers crossed I will be able to add to the many successful claims on here.