interest calculations

Beate

To be honest, it doesn't make much difference because only when you file a court claim does the bank really have to give you the interest on top. But by all means, because you added the interest in the earlier letter(s), just put it right in another letter, saying something about "revised interest". It will probably be more than before if you had some of the charges for quite a few years.

barrettandy

redhouse53 wrote: »

hi, I'm just about to issue court proceedings against hsbc, as they have ignored my previous letters. So far I havn't asked for interest to be added, but know I have too, so, do I calculate interest on the whole amount (£1025) or do I work it out on each charge individually, (cause theres a lot of them and it will take ages!)

many thanks

Hi there,

Add 8% on the indiviual charges using Martins Calculator.. read all other posts on this

Andy

suzyp1982

The interest that you can claim back-
the calculator ML has designed do you put the whole figure in ie the whole claim in and then when the first date these charges occur

Or do you have to work out each individual charges interest seperatly?

Seema bit unfair to the banks that they are getting charged interest right back to 2001 for charges in 2006??

Beate

They are getting charged interest from 2001 for a charge that occured in 2001 and interest from 2006 for a charge that occured in 2006. Can't get fairer than that because that is the amount you are missing out on, so you have to input all charges separately otherwise it is not correct!

kashie

I recently put in a claim for charges on behalf of my husband for charges amounting to £400 plus.

I charged the interest at 8% according to Martin Lewis' claims calculator on the 'Money Expert' website.

Since then I have issued Cap1 with a county court but have I over charged them??

I'm a bit worried now as I was unaware that these interest rates would be different.

Edinburghlass_2

If you input each charge with the date it was charged to your bank the calculator will work it out correctly.