Form N225 - Request for judgment and reply to admission (specified amount)

Sym0n

Hi,
I've searched the forum as best I can but can't find an answer to my, most probably stupid, question.
I currently have an on going claim against Natwest and they have until midnight tonight to enter a defence, surprise surprise they entered an acknowledgment the day after I entered for judgment and so my judgement was refused...good going MCOL. Now as I can no longer proceed online and having spoken to MCOL help desk they have told me to get form N225, complete it and fax it to them first thing in the morning so that it can be entered manually.
My problem comes with regards to the interest since date of claim. My claim was deemed to of been served on Natwest as of 15/05/07 and I will be asking for interest up until the date of judgement, which is tomorrow, of 13/06/07. So from my workings that's 30 days.
Now for the part that I'm really confused with. I'm claiming interest at 8% per annum, or 0.021% daily rate. On the N225 it asks for the percentage rate at which I'm claiming interest at so should I put 8% or 0.021%?
I've currently opted for 8% there and then done my workings at the 0.021% rate.
So...can someone check my calculation for me as I suck at maths!
Total amount before interest - £1230/100*0.021=0.2583. 0.2583*30=7.749, so rounded up to £7.75. Is that right or am I miles off the mark? :undecided
And finally I'd end up with: -
1230.00 (Total amount charged)
267.04 (Interest as stated on MCOL claim form)
7.75 (Interest from date of serving till judgment)
+ 120.00 (Court fee)
£1624.79 (Total amount due)
My god my head hurts lol. Any help greatly appreciated.
Thanks
Sy

hurst75

I am a newbie so you may want to check with another more experienced forum person, but here is my take on it.

The 0.021% figure is a daily interest rate. So that means if you were charged £25.00, 3 years ago today (12/06/04), then the statutory interest you would be entitled to would be;

interest = [number of days elapsed] x [charge] x 0.021%

= 1080 days x £25.00 x 0.021%

= £6.00

This applies to each and every charge, you have listed.

Your calculations (above) are combining all the separate calculations for interest into one figure, and then adding an extra 30 days worth on top. This I think would be wrong.

My advice would be to enter all the charges into the table again. It may take some time but you don't want to muck things up now when you've come so far.

Good Luck!

PS for the more experienced forumers - the figure used on the bank charges interest calculator is actually 0.0222365% and not 0.021% - it sounds like I'm being a geek but it actually skews the figures quite a bit. hey ho - back to my cupboard.

Sym0n

Thanks for that. I figured I was doing something wrong but couldn't figure out what.
Now I just need to figure out why my paragraphs seem to of lost their line breaks!
Sy