Interest calculation's after initial claim!

grayclose31

Hi all,

Can anyone help me with some sums please.

I am claiming for charges on 3 accounts and when i initialy claimed a few months ago i used Martin's interest calculator to determin the amount of interest at the time.

I am now awaiting a court date then the bank will settle in full.

If i want to re-calculate the interest upto the date of settlement do i need to re calculate each claim using Martins Calculator or is their an easier way.

I am hoping for the later as i guess i will need to work out the sums whilst on the phone th the litigation team.

grayclose31

Can anyone offer any advise please.

LozBingley

grayclose31 wrote: »

Hi all,

Can anyone help me with some sums please.

I am claiming for charges on 3 accounts and when i initialy claimed a few months ago i used Martin's interest calculator to determin the amount of interest at the time.

I am now awaiting a court date then the bank will settle in full.

If i want to re-calculate the interest upto the date of settlement do i need to re calculate each claim using Martins Calculator or is their an easier way.

I am hoping for the later as i guess i will need to work out the sums whilst on the phone th the litigation team.

Personally I use a spreadsheet, changing the calculation date updates all the interest

email me for a copy or send me a personal message with your email address and I'll forward you a copy - no need to ask, anyone else wanting a copy please do the same

lindilou39

LozBingley wrote: »

Personally I use a spreadsheet, changing the calculation date updates all the interest

email me for a copy or send me a personal message with your email address and I'll forward you a copy - no need to ask, anyone else wanting a copy please do the same

Loz am totally lost on the spreadsheet system....my friend who is a Litigation specialist drew up a schedule of charges Revised ...alls i have to do is copy it onto spreadsheet formula..but i cant get the grid system up, (dyslexically thick when it comes to understanding words) I understand exactly what she has logged, but am havin problems with excel spreadsheet, setting it into a grid pattern

Lin

LozBingley

lindilou39 wrote: »

Loz am totally lost on the spreadsheet system....my friend who is a Litigation specialist drew up a schedule of charges Revised ...alls i have to do is copy it onto spreadsheet formula..but i cant get the grid system up, (dyslexically thick when it comes to understanding words) I understand exactly what she has logged, but am havin problems with excel spreadsheet, setting it into a grid pattern

Lin

If you want to send it to my email address (in my profile) I can sort it out for you I'm dyslexic too but a wiz on the computer

LozBingley

grayclose31 wrote: »

If i want to re-calculate the interest upto the date of settlement do i need to re calculate each claim using Martins Calculator or is their an easier way.

Just re-read your message and thought of an easier way round this

All you do is take the amount of your charges then add 8% for the number of days since your printed it out

The Sum
Charges x 0.08 x days / 365

Remember its Total Charges before interest, 0.08 is 8%, and as this is 8% per year you need to times by the number of days since you last calculated it represented in years, so we divide by 365 easy once you know how!