Asset lending can be unjust; compound interest unconscionable September 20, 2023 | 312 views “Asset loans” – at very high interest rates – are particularly attractive to financially distr Read Story
Lender reclaims Toowong unit after 5-yr default on incorrectly signed loan docs November 17, 2022 | 809 views An international flight attendant who had no recollection of signing loan documents for the advance Read Story
Broker fakes income & expenses: court writes off $1.5 mil from unaffordable loan September 21, 2022 | 1017 views A couple who signed an almost blank home loan application that they left to their broker to complete Read Story
High Court rules “asset” loan to borrower with no capacity to repay, unconscionable March 31, 2022 | 812 views Asset lending is done on the basis of the value of the assets securing the loan without regard to th Read Story
Judge attacks consumer body for delay in adjudicating financial services complaints March 27, 2022 | 581 views A Brisbane court has rebuked the Federal financial complaints body for prolonged delays in its adjud Read Story
High Court approves compound interest magic as financier collects 30 x debt after 20 yrs July 08, 2021 | 1146 views Australia’s highest court – in confirming that the waiver of statutory consumer protections by con Read Story
Loan book buyer statute barred in $4 mil mortgage debt recovery May 07, 2019 | 1072 views Borrowers under a private $320k loan have successfully defended their mortgagee’s $4 mil recovery Read Story
Whitsunday developer’s $3 mil loan default compounds to $11 mil at judgment April 21, 2019 | 2095 views One would have thought that all the stories of GFC related property calamities in Queensland had bee Read Story
Court orders halt to recovery action on “predatory” loans to desperate business April 23, 2017 | 1563 views Private loans with “stratospheric” interest rates exploited the financial desperation of a novic Read Story