Moneyclaim Online (MCOL) question

Beate

Hotdog wrote: »

Martin says the daily rate of interest is 0.021%.
Rex Mundi advises that "To work out the daily interest. Multiply the amount of your claim (charges only, not including interest) by .00022."
Apart from the 2 instead of the 1 at the end this gives you exactly the same amount as one time you multiply by a percentage and the other by the amount in pence, I just tested it.
You'd have to ask the two of them why their numbers differ by a 1 at the end.

Thanks, trouble is I am discalculate which is like dylexia but with numbers so all these formulas to work out daily rates of interest might just as well be written in chinese! That's why I chose martins poc because it's very simple and gives me more time to work out the interest at 21% whilst my claim can move on. Would it really matter if there was a discrepency between 21% or
.00022p? Can my case be thrown out over this?

It's not 21%, it's 0.021%. The statutory rate of interest is 8% per annum, divided by 365 gives the daily rate: 0.0219, if you want to be precise. Whether you cut off after 0.021 or round up to 0.022 will not make much of a difference, if anything, the rounding up is more mathematically correct. But it's really splitting hairs as very few people will ever get that far as sitting in front of a judge who will award daily interest, and he will most certainly use the daily rate he thinks is correct. So I wouldn't worry one little bit about it, and it certainly will not get your case thrown out.

Hotdog_2

Ooops, thanks Beate! Told you I was bad at numbers! I'm much happier now :j

pageee2004_2

Many thanks to you all for all your advice and help.....
checked Halifax bank account today and all charges and court charges have been refunded in full into my account !!!!!!!!!!

For those still waiting, hope your day comes soon....

chrissieo

chrissieo wrote: »

OK for my next stupid question............

in this bit what do I put in this bit

continuing at 8% until judgment or settlement at a daily rate of £0.xx;


Thanks in advance for your patience....

Chrissie

................and the next stupid question.

As I posted earlier I have accepted original offer from Cap1 as part payment, completed my MCOL and just about to press the "GO" button. I have been away since last Thursday and while I was away I received another letter from Cap1 for me to sign to say I accept original offer as closure of complaint. Do I just ignore this as I have already said I would not accept it and proceed with MCOL today, or do I have to reply to it and wait for a further response from Cap1?

Chrissie

frugalpam

chrissieo wrote: »

................and the next stupid question.

As I posted earlier I have accepted original offer from Cap1 as part payment, completed my MCOL and just about to press the "GO" button. I have been away since last Thursday and while I was away I received another letter from Cap1 for me to sign to say I accept original offer as closure of complaint. Do I just ignore this as I have already said I would not accept it and proceed with MCOL today, or do I have to reply to it and wait for a further response from Cap1?

Chrissie

Hiya - I'd stick to your timescales and go ahead with MCOL, if I were you. Cap One are just using stalling tactics and you don't have to accept their part payment as closure of complaint.
And they're not stupid questions - we're all in the same boat!

Pam

chrissieo

frugalpam wrote: »

Hiya - I'd stick to your timescales and go ahead with MCOL, if I were you. Cap One are just using stalling tactics and you don't have to accept their part payment as closure of complaint.
And they're not stupid questions - we're all in the same boat!

Pam

Well that's it, I've pressed "GO" and started the MCOL, not sure what happens next, so no doubt I will be asking more questions in a few weeks time. Is there anywhere that gives you a step by step guide of what happens next?

Thanks to everyone who's offered help to get me this far.

Chrissie

Shellyk_3

I issued my claim with Lloyds on the 23/05/07, they acknowldged and said they were going to defend it on 9th June. if the defence was put in on this cay do I wait 28 day from here or 28 days from the 23/05/07. I'm getting really anxcious!!:mad: :mad: :mad: :mad:

princesskez26

Shellyk wrote: »

I issued my claim with Lloyds on the 23/05/07, they acknowldged and said they were going to defend it on 9th June. if the defence was put in on this cay do I wait 28 day from here or 28 days from the 23/05/07. I'm getting really anxcious!!:mad: :mad: :mad: :mad:

It's 28 days from the date it was deemed served,

Kez

frugalpam

chrissieo wrote: »

Well that's it, I've pressed "GO" and started the MCOL, not sure what happens next, so no doubt I will be asking more questions in a few weeks time. Is there anywhere that gives you a step by step guide of what happens next?

Thanks to everyone who's offered help to get me this far.

Chrissie

You might want to read through this thread incase they decide to put in a defence, and also this one that tells you more about dealing with solicitors letters etc

Pam

Beate

chrissieo wrote: »

Well that's it, I've pressed "GO" and started the MCOL, not sure what happens next, so no doubt I will be asking more questions in a few weeks time. Is there anywhere that gives you a step by step guide of what happens next?

Thanks to everyone who's offered help to get me this far.

Chrissie

Yes there is. Check my post no. 13 in the Reclaim Help Thread:
http://forums.moneysavingexpert.com/showthread.html?t=400981