It is 129 days from
21 February until the end of June. Here is the calculation machine. http://www.timeanddate.com/date/durationresult.html?d1=21&m1=2&y1=2013&d2=30&m2=6&y2=2013
I do not know the
principal sum (£54,000?) or what the interest rate they are charging is. It
appears to be about 4% which is not too bad.
So she is entitled
to interest (assuming the calculation is correct) of £774 in respect of the
period from 21 February until the end of June when the capital sum was repaid.
Between the end of
June and now, say, 24 days, they are entitled to 4% interest on £774 which is
about 85p per day..
I would write back
to them and tell them exactly that because the interest on the capital sum
stopped accruing on the day that it was paid, three weeks ago.
You may need to do
some adjustment of the figures because I do not know the exact dates.
upon the figures you have given, you need to send £774 now.
cases like this, I never suggest making an offer. I suggest sending a cheque.
Armed with a cheque in the hand for some of the amount they want, compared to
an argument over the whole of the amount, (an arguments that they may win or
lose) the cheque in the hand is a pretty powerful incentive to accept it.
consider deciding how much you would like to pay the (you need to make it
attractive enough) and send it with a covering letter headed "without prejudice
save as to costs". That means that they cannot produce the letter in court as
any proof that you admit owing them any money at all.
them in the letter that you are offering this money in full and final
settlement of all claims against you, past, present and future, and that by
cashing it they accept it as such. Tell them that if they do not accept it,
they should return the cheque to you and if they issue legal proceedings, you
will defend them on the basis of A, B, C, whatever.
can tell you this approach works nine times out of 10,
For legal reasons which I will not bore you with but which
go back several hundred years, the cheque must not come from you, but was come
from a third party, friend, relative, solicitor, our accountant, neighbour,
girlfriend, wife, husband, whoever, just not from you.
Here is some rather heavy reading http://www.voltimum.co.uk/news/2312/cm/the-law----full-and-final-settlement-.html
in me misleading you.
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