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Who gouges the most – banks or class action lawyers? ‘Murphy’s law’ re bank fees – come in spinner!

admin — Sat, 15 May 2010 01:06:22 +0000

A class action is being launched in Australia against local and foreign banks for repayment of dishonour and late fees….. “The firm’s lawyers will argue that the charges are illegal because they are out of all proportion to the actual cost incurred by the banks” (News.com.au) but the same charge could be levelled against the class action’s lawyers who will also eventually charge a success fee of $1billion+ despite the actual cost of running the class action being merely a few million dollars, uhh. Legalism – a sucker born every minute…..LOL

Lawyers taking part in the case say the banks have earned billions over the years that they weren’t entitled to by taking money out of people’s pockets, but there’s a catch….. The firm funding the case will take 25 per cent of the amount recovered and court papers have yet to be lodged…..
http://www.abc.net.au/lateline/content/2010/s2897912.htm?site=perth

The Finance Sector Union has raised concerns that jobs will be lost if a planned class action against bank fees is successful.

The class action will allege Australians have been illegally charged more than $5 billion in bank fees over the past six years.

Leon Carter of the Finance Sector Union says while the lawsuit is a good way to bring attention to the issue, it has the potential to backfire.

“Our concern is that if this lawsuit is successful, the banks will simply make their money up somewhere else or, even worse, sack staff to recoup any costs,” he said.

“The only long-term solution to this problem is better regulation.”

However, Bernard Murphy from the law firm running the action, Maurice Blackburn Lawyers, says something has to be done.

“There’s no doubt that we have a good argument. Whether it will be successful, that’s a matter probably for the High Court,” he said.

The case will initially be heard in the Victorian Supreme Court, but it is possible there may be appeals extending to the High Court and lasting several years.

Up to half a million Australians are expected to join the class action against local and foreign banks for repayment of dishonour and late fees….. http://www.abc.net.au/news/stories/2010/05/13/2898688.htm

Official figures show the banks collected nearly $1.2 billion in such fees in the 2008 financial year.

The class action, being run by a subsidiary of litigation funder IMF, will relate to honour and dishonour fees on bank accounts, and over limit and late fees on credit cards.

The big four banks – Commonwealth Bank, ANZ, National Bank and Westpac – recently scrapped or reduced many of those charges.

Financial Redress, the subsidiary behind the class action, says the claims will pursue exception fees deducted from accounts over the past six years….. Official figures show the banks collected nearly $1.2 billion in such fees in the 2008 financial year.

The class action, being run by a subsidiary of litigation funder IMF, will relate to honour and dishonour fees on bank accounts, and over limit and late fees on credit cards.

The big four banks – Commonwealth Bank, ANZ, National Bank and Westpac – recently scrapped or reduced many of those charges.

Financial Redress, the subsidiary behind the class action, says the claims will pursue exception fees deducted from accounts over the past six years….. http://au.biz.yahoo.com/100512/31/2cvq0.html

BANK shares were pummelled yesterday amid investor concern that a landmark legal action against fees could hit profits.

Shares in major banks including Commonwealth Bank and ANZ fell by about 1 per cent after BusinessDay reported they faced one of Australia’s biggest class actions for overcharging on penalty and late fees.

The $400 million claim, if successful, could trim bank profits by about 1 per cent…. http://www.businessday.com.au/business/banks-take-jolt-over-fee-fears-20100512-uy59.html

Half a million angry Australian bank customers are tipped to join a class action launched against the nation’s big banks over AU$5 billion (US$4.7bn) in fees raked in over the past six years…..

Victoria’s Supreme Court will be asked to rule that the banks gouged customers with a raft of “exception” fees…..
http://www.news.com.au/money/banking/imf-to-bankroll-bank-fee-class-action/story-e6frfmcr-1225865541240

Duration : 0:3:21

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Mortgage Loan Modification 6 – Home & Real Estate Marketing Nov08 – Retirement or Mortgage Payment?

admin — Thu, 14 Jan 2010 03:31:59 +0000

Attorney Negotiated Mortgage Loan Modification for Home Owners. Expert Advice on Real Estate and Finance. Avoid Foreclosure Scams and Fraud. Prevent Bankruptcy. Go To http://RealEstateMarketingThisWeek.com

Part 6 (Excerpt)

Using Retirement Funds to pay your Mortgage is just a bad idea Get a Loan Modification

So it doesnt matter if it is a $100,000 property or a $500,000 property the cost to the lender is $50,000 on the average nationally.

So the idea of the upside down scenario, you may see banks more willing to entertain a broader audience of loan modifications or a broader request of loan modifications based on the fact that they know that now, what we are calling toxic assets, not only exist on their balance sheets, but they want to do something to avoid the additional cost of foreclosing on the property, to avoid the additional impact on our economy nationally with all these foreclosures mounting. So a loan modification that may not be the best or most ideal candidate today, dont throw the option completely out of the window.

And to that point I would never tell a home owner to stop making their payments just to get a better loan modification, because as of today, this may not be the case two weeks or two months from now, but as of today, your servicer is not going to entertain a loan modification unless youre late in most cases. Heres the situation, though at first you may get mad at that and they get mad at me for it, but the reality of it is we have a real problem now with lots of people who are two, three, four months behind on their mortgages, this loan modification we are jumping in, we are getting attorneys involved and getting right in front of the asset managers or the attorneys for the servicers to get these foreclosure proceedings stopped.

Im absolutely certain that in the foreseeable future they are going to allow people that are not late yet to do these loan modifications, hold on, I said I would never tell a home owner to not make their mortgage payment to get a loan modification, the other thing I would never tell a homeowner to do, never ever, is to take money out of your 401K to pay their mortgage payment because you cant go forward.

There are other stops in place, if you dont make your mortgage payment because of hard times you are going to get a loan modification. I talked to a guy the other day that had a 23 year, huge 6 figure income, he lost his job, big huge firm here in the valley, he is probably listening to the show right now, this guy drained his entire 401K, I mean a huge one, just to make his mortgage payments.

And the average 401K participant, investor, does not understand the ramification of what that is, just because your company plan allows you to take a loan against your 401K doesnt mean it is the right thing to do. There are ramifications beyond our time and the scope of this discussion regarding that decision. Loan modification first, if you are taking money from a 401K to make a house payment you are not only inefficient in creating the velocity of money but you are costing yourself in penalties, taxes, and that is certainly something we can be forthright about talking with anyone who wants to call.

And in this case the poor guy used up every dime of his 401K because his lender told him NO, NO, NO, three separate times because he was not late, well he wasnt going to allow that to happen. Unfortunately knowing what he knows now he would have looked at it differently.

Loan Modification is not for someone who has no income at all, the investor, the servicer, the bank that holds your mortgagee is not willing to do a loan modification because you dont have the means to pay. Even if it is a modified loan, you still cant make the payment. Right in some cases where you have significant cash reserves, but I have not seen one of those done.

That wouldnt be the ideal candidate, describe a little bit about who should be doing this loan modification and I know we are getting close to a break but people need to know that this option exists. They are hearing all these different concepts in the news and they are hearing in the media the spin about Hank Paulson and what the treasury is doing, and hearing about this bailout package and what that represents, and now they are hearing that the money is not going to be used to buy back bad loans, and mortgages, bad assists. So what does that do to the underlying holder of that mortgage? The owner of that house?

It is pretty scary for the majority of them, the loan modification lenders are getting very aggressive when being approached with a lawsuit or being addressed by an attorney, receiving a subpoena in regard to a specific loan case. They are paying attention to that and those are the people who are going to be getting the best options at this time…

Duration : 0:6:12

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Dr David Ayoub on mercury causing autism 6

admin — Sat, 09 Jan 2010 09:16:07 +0000

Part 6
This is the most heavily suppressed video on Youtube. In it, Dr David Ayoub provides mountains of factual medical evidence to prove autism is caused by thimerosal mercury in the baby vaccines. In one chart, David shows how the vaccine companies could be forced to pay $100 billion in lawsuit claims if this evidence is brought into court.

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

http://www.safetylawsuits.com/

Duration : 0:9:58

Technorati Tags: Aaron, activists, Alex, all, anti-NWO, anti-war, autism, Ayoub, bank, Bilderberg, Bohemian, causing, central, compassion, compensation, congress, constitution, court, David, debt, Dr, equal, federal, for, FRCP, friendship, funding, good, goodness, Grove, help, helpfulness, honesty, house, Jones, kindness, lawsuit, love, mercury, morals, need, new, NWO, order, Paul, peace, people, programs, protect, reserve, rights, Ron, Russo, social, thimerosal, white, World

Dr David Ayoub proves mercury causes autism – 1

admin — Thu, 07 Jan 2010 17:45:02 +0000

Part 1
This is the most heavily suppressed video on Youtube. In it, Dr David Ayoub provides mountains of factual medical evidence to prove autism is caused by thimerosal mercury in the baby vaccines. In one chart, David shows how the vaccine companies could be forced to pay $100 billion in lawsuit claims if this evidence is brought into court.

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

http://www.safetylawsuits.com/

Duration : 0:9:47

Dr David Ayoub proves mercury causes autism – 4

admin — Wed, 06 Jan 2010 06:45:12 +0000

Part 4
This is the most heavily suppressed video on Youtube. In it, Dr David Ayoub provides mountains of factual medical evidence to prove autism is caused by thimerosal mercury in the baby vaccines. In one chart, David shows how the vaccine companies could be forced to pay $100 billion in lawsuit claims if this evidence is brought into court.

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

I myself recently filed an anti-vaccine lawsuit in federal court USDNJ #09-3803.

http://www.safetylawsuits.com/

Duration : 0:10:0

Technorati Tags: Aaron, activists, Alex, all, anti-NWO, anti-war, attorney, autism, Ayoub, bank, Bilderberg, Bohemian, causing, central, compassion, compensation, congress, constitution, court, David, debt, Dr, equal, federal, for, FRCP, friendship, funding, good, goodness, Grove, help, helpfulness, honesty, house, Jones, kindness, lawsuit, lawyer, love, mercury, morals, need, new, NWO, order, Paul, peace, people, pro, programs, protect, reserve, rights, Ron, Russo, se, social, thimerosal, white, World

Dr David Ayoub proves mercury causes autism – 5

admin — Mon, 04 Jan 2010 09:38:08 +0000

Part 5
This is the most heavily suppressed video on Youtube. In it, Dr David Ayoub provides mountains of factual medical evidence to prove autism is caused by thimerosal mercury in the baby vaccines. In one chart, David shows how the vaccine companies could be forced to pay $100 billion in lawsuit claims if this evidence is brought into court.

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

I myself recently filed an anti-vaccine lawsuit in federal court USDNJ #09-3803.

http://www.safetylawsuits.com/

Duration : 0:10:0

Lawsuit to deem insanity unconstitutional

admin — Mon, 04 Jan 2010 09:38:04 +0000

Someone needs to file a lawsuit in federal court to deem the insanity defense as unconstitutional.

Duration : 0:10:0

Technorati Tags: Aaron, activists, Alex, all, anti-NWO, anti-war, bank, Bilderberg, compassion, compensation, congress, constitution, court, debt, deem, equal, federal, for, FRCP, friendship, funding, good, goodness, help, helpfulness, honesty, insanity, Jones, kindness, lawsuit, lawyer, love, morals, need, new, NWO, order, Paul, peace, people, programs, protect, reserve, rights, Ron, Russo, social, to, unconstitutional, vaccine, World

Dr David Ayoub on mercury causing autism 6

admin — Fri, 01 Jan 2010 08:01:12 +0000

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

I myself recently filed an anti-vaccine lawsuit in federal court USDNJ #09-3803.

http://www.safetylawsuits.com/

—————————————-

Duration : 0:9:58

Dr David Ayoub proves mercury causes autism – 4

admin — Wed, 30 Dec 2009 23:43:01 +0000

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

http://www.safetylawsuits.com/

Duration : 0:10:0

Dr David Ayoub proves mercury causes autism 2

admin — Wed, 30 Dec 2009 02:20:04 +0000

Part 2
This is the most heavily suppressed video on Youtube. In it, Dr David Ayoub provides mountains of factual medical evidence to prove autism is caused by thimerosal mercury in the baby vaccines. In one chart, David shows how the vaccine companies could be forced to pay $100 billion in lawsuit claims if this evidence is brought into court.

$100 billion is a vast sum of money. Now we wonder, what would these vaccine companies do to try to protect that $100 billion?

http://www.safetylawsuits.com/

Duration : 0:10:0