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BFCSA: Grandma update - I am now dealing with COSL CASE MANAGER NO. 5

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Dear Members,

Just an update for you on my story. I finally have received the DECISION on my case from COSL!

As you probably will have guessed no surprise here.  COSL have decided in their wisdom that my loan is not "Unjust" and they find nothing wrong in the bank`s lending practices !

Never mind the fact that my LOW DOC LOAN was changed into a FULL DOC LOAN without my knowledge.

Never mind that there were FALSE tax documents used to provide my financials

Never mind that they had me owning a Trust and my income was $92,000 while at the time I was unemployed and studying, and best of all that I had to fight 6 charges of Deception of Loan Papers in court for two and a half yrs only for the DPP to drop the charges four days before the trial.

All this informationwas given to COSL case manager No.4, but as she was taken off the case and I am now dealing with CASE MANAGER NO. 5 who handed down the decision.  It is quite evident that none of this information had been passed onto her!

SO now I have sent an email explaining all of the facts and pointing out the obvious and will await her next decision.

Feeling very ANGRY and FRUSTRATED to say the least! This is not Rocket Science! GRRRRR!

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  • doyla66
    doyla66 Sunday, 08 December 2013

    Doing the Case Manager's job for them, unpaid - a common problem at COSL, ASIC, FOS

    Hi Grandma, I'd been wondering how you went.
    We can relate to what you've been handed by yet another drop in case manager on their way to a Bank job.
    I believe you're correct about their lack of knowledge of your case.
    What I think they've done is work off the file notes and can't be bothered checking all the details in your case prior to writing up your "determination".
    These people have a highly responsible position that carries the power to destroy lives and financial futures. Unfortunately the people who are employed to write this garbage aren't interested in consequences as they have no skin in the game, beyond their pay packets, and, of course their next career move. So they play the game in the way that their current employer (Banks and FOS/ASIC/COSL) require, please a Bank or Lender, and get a step up the ladder to corporate success.
    Not saying that they don't do their best to get it right, but, frankly if they were any good at Law wouldn't they already be out there in those better jobs already, not filling in time at COSL? For all you or I know that Case Manager could be on the way to a job with Gadens! And we know what really good lawyers think of Gadens and their "quality" staff!!! (Low life.)
    We had a similar situation with COSL - case manager clearly made something up out of her head to finish the case. It was so far wide of the mark we wondered if she or any of them had read anything of the file, beyond the basics. She finished the file, that's about all it had to recommend it.
    All that doesn't solve your situation or anyone elses, but it's background to your case. So it's back to the details and the trenches to work out what's correct and what's not. I wish you all the best with it - pick them apart. Most of them can't read anyway and I can picture them in the COSL case sweatshop, working away, ipods firmly in ear and gum in mouth!
    I can validate your feelings of anger and frustration. It's very annoying to be gamed by some gen X who doesn't give a damn about what you've been through and the effort you've put into telling the truth and doing the right thing. And now you have to go through and mark this kid's homework (ie do their job for them, unpaid) while they're standing at the gates ready to trash your life without conscience. Grrrr is right.

    BTW if anyone ever needs a top Australian law firm to take a case against a Bank in future they could be scratching. The Banks are systematically nobbling them by engaging them to do all sorts of small jobs, and paying them well. Some Lawyers will do anything for money! Eventually Australians will have to seek good legal representation for cases against Banks, ASIC and the Govt overseas - it's already happening.

  • doyla66
    doyla66 Sunday, 08 December 2013

    Sorry to hear this Grandma but it is not unexpected. I know how you feel. These people destroy our lives and then go on as if nothing has happened. You cannot work out where the justice is these days. The trouble is we are all to honest and the lenders just lie and fabricate there way through these cases, confident in the fact that are untouchable. What an awful society we have become. Be careful what you put down on paper especially now. Remember all this info will go directly back to the lender and then the legal eagles get first hand info to work on. Ask questions? You are right in regards to the Lawyers, these poor smucks are handed crumbs from the banks. All of a sudden they think they are riding high.!!!! These suckers are just being taken advantage of really. They are not very well thought of in the legal world, other lawyers thumb their noses at them.

  • doyla66
    doyla66 Monday, 09 December 2013

    Always one more option

    Grandma its time for you to take this straight to the media, ring your local state talk back radio (shock jock if there is one in your state) just expose what has happened. I think for every case that gets an adverse finding from these morons we need to start getting profile, radio first, social media must get bombarded about our dirty Banks conniving Brokers. The only way we will get them to start paying attention is a massive whack in their hip pockets and that can only be done by steering people away from their services.
    The one thing that scares all businesses particularly Banksters is BAD MEDIA, so if our Treasurer is going to take part in the cover up by using a OVERPAID Banker to look into the Banking industry in what is now looking like a SHAM Investigation lets make it embarrassing for all that are taking part in this cover-up. We only need one honest Journo, Lawyer or Politician to grab this by the throat and run with it. The evidence is so compelling that it must be taking more work to hide whats happening than it would take to expose it. Every time a major media (TV Current Affairs Programmes) gets a hold of this story about the Fraud being committed by our Banks, it gets momentum then somehow gets stifled again and disappears from sight. Its high time on of our media outlets get serious and continue the story and let the truth come out as it has in so many other countries. Are we so conflicted in Australia that our stinking Banks control everything including GOVERNMENT, MEDIA and our REGULATORY CONTROLLERS. We only ever take a glancing sideswipe at any crooked game our Banksters play as is happening now where we see a big stick being taken to the fees issue. But we all know that is simply a HUGE DIVERSION to take the focus off the Fraud issue which hover like a hangmans noose over the Banking top ends heads as it has done for many years now with no action taken. Our shining light in Joe Hockey has turned out to be our burnt out shooting star and this was obviously another political vote scoring farce. So its time to start really applying media pressure and tell our stories one at a time as we fail in in the regulatory offices of ASIC, FOS and COSL as we invariably will because it is very much and uneven playing field. Get blogging, emailing, phoning, texting and any other way you can think of to get your story out there its going to be up to us victims to make this turn around.

    ED: Documentaries closed for Christmas but prepare to do this mid January db

  • doyla66
    doyla66 Monday, 09 December 2013

    Well said, Max - I agree. Grandma's horrific plight is also an excellent media opportunity and an important warning to other consumers. Her story may also get her a fair go.

  • doyla66
    doyla66 Monday, 09 December 2013

    Well said, Max - I agree. Grandma's horrific plight is also an excellent media opportunity and an important warning to other consumers. Her story may also get her a fair go.

  • doyla66
    doyla66 Sunday, 15 December 2013

    My Case with COSL has now been closed!

    Hi Everyone,
    Friday I got the email I have been dreading. Our(COSL) decision on your case stands as is and this case is now closed.
    Case Manager No, 5 has decided in all her wisdom that Advantedge Financial Services have done nothing wrong! COSL does not handle fraud and as far as they are concerned and I quote"we are unable to make a finding of fraud,our review of unjustness(where reasonable) could only proceed on the basis that the information recorded and submitted in and along with your loan application WAS
    A TRUE AND CORRECT REPRESENTATION OF YOUR CIRCUMSTANCES AT THE TIME,WHICH WAS NOT TAINTED BY FRAUD"
    I don`t know what planet this case manager is on but its not the same one I am on!!
    FALSE TAX DOCCUMENTS,FALSE INCOME OF $92,000 LOAN CHANGED FROM LOW DOC TO FULL DOC WITHOUT MY KNOWLEDGE
    A THID PERSON`S HANDWRITING ON FORMS FILLED OUT NOT BY MYSELF!
    How can this information given to COSL be classed as a"TRUE AND CORRECT REPRESENTATION"??
    I have tried ringing this Case Manager but all I get is a recorded message.
    I refuse to pay one more cent onto this CORRUPT and FRAUDULENT LOAN.So now I sit and wait for ADVANTEDGE to send me the nasty letters,or rock up onto my doorstep to take my house.If this happens I will make sure the media are there in full force to watch!
    In the meantime I have reported the fraud to the police and am waiting to hear from them.
    It took COSL 18 months and 5 Case Managers to finally tell me they don`t handle fraudulent cases.
    ASIC don`t want to know about fraud on my loan, COSL don`t want to know about fraud on my loan, APRA don`t want to know about fraud on my loan.Please explain as to why these bodies exist??
    Oh well the fight goes on!! STAY TUNED!!

  • doyla66
    doyla66 Friday, 24 January 2014

    Hi grandma

    Sorry to hear of your failure at COSL . Has the broker committed fraud , or is it bank staff after the FAX? what's the next step? I guess they trotted out the old " the broker is your agent rubbish" ?

    Don't give up

    Regards
    Cam

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