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Calculating interest on a debt that is being repaid over a number of years

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6 months 3 weeks ago - 6 months 3 weeks ago #4821 by jdesousa
Calculating interest on a debt that is being repaid over a number of years was created by jdesousa
Hello All,

I been found in favour of a debt that is owed to me and have been advised that the interest rate I am entitled to apply to the debt is 8%. The debt is going to take several years to repay at the rate the court has decided on, can anyone advise what the correct calculation is that I should use to calculate the total repayments? 

Many thanks,

John

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6 months 3 weeks ago #4822 by j.salmon@cpa.co.uk
Replied by j.salmon@cpa.co.uk on topic Calculating interest on a debt that is being repaid over a number of years
payontime.co.uk/standard-late-payment-interest-calculator

payontime.co.uk/how-to-calculate-late-payment-interest-and-compensation

Hi John, its actually 8% above base (set every six months) - see our guide above.

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