I hate the nab

So you think you can trust your bank, after all, only nasty mortgage brokers would set you up with a predatory loan and aren’t regulated enough to keep ‘em honest.  Well I have news for you, don’t count on it.  Even the big banks indulge in dodgy loans and then when you do what you no doubt will (default on your loan) they come and take your property and sell it off quickly (that means they take any amount for it regardless of its real value).  Most people don’t even realise that they’ve been had so they just walk away. Now I do have to make the distinction – we are not talking mortgages obtained when you could afford the repayments and then your life circumstances change and you find that you can’t meet repayments, that’s life, it happens; it really sucks but it happens all the same. What I’m talking about is a loan approved by a bank when what little supporting documentation you have proves you cannot meet repayment obligations. These are predatory loans and they are illegal and immoral.

Now I have had comments that in my case it was not a predatory loan but a case of unconscionable lending and the issue is relevant to the Trades Practices Act and not Section 70 of the Consumer Credit Code - ok, here is my big 'confession', I am a housewife and not a lawyer - but then again, I don't remember ever saying to anybody that I knew anything about the law at all.  Although today I will admit I know the law - I know damn well that the law exists only to protect the rich and their assets and the rest of us are just irrelevant - did that come off slightly cynical?  

I want to use this website as a forum to not only tell my story about my fight with the National Australia Bank but also to be a source of information for others like me so that we all get a fair go.

 

    Follow me on You Tube - embarrassing but nothing left to lose is there?

Just for starters though – when this started with the first default notices issued to us, I was told that banking law exists to protect the banks – NEWS FLASH – banking law exists to protect US from THEM; it’s just that they have so much money, power and influence that no-one can afford to stand up to them.  That’s just one thing I want to change, I want banking law to be accessible to us.  There are laws that govern what banks do but they just seem to get away with murder – the nab has survived many an investigation by ASIC even though they obviously did the wrong thing (follow the links, I wouldn’t put information on here that I can’t back up, & if they're not here today they should be by tomorrow, but google it if you like).

 

I hope you find the information provided here useful and that you don’t just assume that I am just an idiot who should have known better.  All I want is my day in court, I want the bank held accountable for their actions – they know the law, they know they overstepped the mark.

To raise money for my defence and maybe even buy the farm back, I have started an online store selling t-shirts, mugs etc.  Hey I only have to sell about a million items to be able to buy the farm back, and as you know, you have gotta have a go tehehehe. 

Go to The omalicious Shop.

If you'd prefer to donate money rather than buy something, (I only make about $1.50 on each item) I'd really appreciate it - I'd prefer to sell something but can understand that maybe you don't want to buy what I'm selling and might still like to support my quest. Simply click on the 'add to cart' button and you can decide the amount you'd like to donate.

page last updated 23rd April 2010