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Statutory interest in UK
Thread poster: kterelak
kterelak  Identity Verified
Poland
Local time: 04:13
English to Polish
+ ...
Oct 19, 2008

Dear All (especially UK residents),

I am looking for some information on how to calculate statutory interest in the UK. The agency I worked for has gone bankrupt and they want me to send them a form detailing my debt with interest.

I would appreciate any help with this.

Katarzyna


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Sheila Wilson  Identity Verified
Spain
Local time: 03:13
Member (2007)
English
+ ...
Here are some links Oct 19, 2008

I left the UK some years ago so, although I know that such a thing exists, I don't have the exact figures.

However, there's a group that can help you and here's their link:
http://www.payontime.co.uk/index.html

This link will take you to their home page where there's a section on how to calculate interest. They refr there to the act of Parliament passed in 2002, which you can view here:
http://www.opsi.gov.uk/si/si2002/20021675.htm

Hope that helps you. You're certainly lucky in having help from the company concerned, and hopefully you'll get something out of it, although I have to say that I've been in this position twice and haven't seen a penny - us small creditors are right at the bottom of the pile and there's rarely even crumbs left for us after services companies and the banks etc etc have had their fill.


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kterelak  Identity Verified
Poland
Local time: 04:13
English to Polish
+ ...
TOPIC STARTER
Thanks Shiela... Oct 19, 2008

Yeah, I am at the end of the list..., but thanks for help, anyway.

Katarzyna


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