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Please could somebody point me in the direction of a Compound Interest spreadsheet for calculating a claim?
I am quite confused as to how to formulate the claim having read differing accounts.
For example, taking the first two payments made in November (25.00) and December (30.00) 2000, would I claim 25.00 at 30% interest compounded monthly and then when I arrive at a figure, would I apply 8% annual statutory interest to this amount? Or is the 8% interest added only to the compounded interest element? In the second month, what would I use as the principal sum? Would I use only 30.00 or do I add the previous months premium and calculate from there?
Also, my account was opened on 1 November 2000 and was in a credit balance from August 2008 but was not closed (with the credit being paid to me) until September 2012 - on this basis, what end date would I use to formulate the claim - would it be at the point that the account went into credit? If so, could I apply interest at 8% from that date until today in the total amount?
To further complicate things, the account incurred many charges during its course, some of which would undoubtedly not have been so incurred but girl the PPI and, as such, recovery of these would be sought too but, to do this, the whole account would need completely restructuring - is there a spreadsheet to do this?
Many thanks and I do hope that you can answer my queries, as I believe that the amounts due will be rather vast.
I am quite confused as to how to formulate the claim having read differing accounts.
For example, taking the first two payments made in November (25.00) and December (30.00) 2000, would I claim 25.00 at 30% interest compounded monthly and then when I arrive at a figure, would I apply 8% annual statutory interest to this amount? Or is the 8% interest added only to the compounded interest element? In the second month, what would I use as the principal sum? Would I use only 30.00 or do I add the previous months premium and calculate from there?
Also, my account was opened on 1 November 2000 and was in a credit balance from August 2008 but was not closed (with the credit being paid to me) until September 2012 - on this basis, what end date would I use to formulate the claim - would it be at the point that the account went into credit? If so, could I apply interest at 8% from that date until today in the total amount?
To further complicate things, the account incurred many charges during its course, some of which would undoubtedly not have been so incurred but girl the PPI and, as such, recovery of these would be sought too but, to do this, the whole account would need completely restructuring - is there a spreadsheet to do this?
Many thanks and I do hope that you can answer my queries, as I believe that the amounts due will be rather vast.
