Show this site to the lender.
No more bargain on Interest Rate
Demand your repayment to be applied to oldest debt first!
Download XL file.
Key in your loan details in B1-B4 to see your savings.
CEO of Commonwealth bank gave written declaration that all lenders do charge Compound interest!
Join with like minded people and write to the CEO of the lender, local Member of Parliament and media
Visit election venue. Take the ballot paper & but NOT vote. This will bring attention of the media and the world, showing you are not accepting something.
So no penalty for not voting. No one else would cast your vote.
This needs a revolution.
Other solutions:
Send me an email, your thoughts to hariiyer24@gmail.com
Tell me what you want me to do further.
Speak to friends, families, colleagues, lower and lowest level employees at work place.
Sell the property and stay renting.
(This will make lenders lose their compound interest and lose profits/fail).
‘What if a group of people all default their instalment repayment for one month at a time?".
Wont lose the property.
No offence committed.
Will not result in huge amount of additional interest.
Lenders hedge their loans with bigger lenders.
This will cause a huge impact to lenders”.
What the Government says?
Treasurer claims that Public have ACCEPTED compound interest.
But if you still accept it, ignore whatever you read.
Now if you don't accept, then;
You can take it up with your local member of parliament.
Tell him/her that your "repayments should be applied to Principal and Interest in the ratio of the amount owed to each of them at the time of each payment".
OR
Demand a legislation making simple interest mandatory.
Demand to REMOVE Regulation 33F, supporting compound interest.
DEMAND legislation for mandatory disclosure of the equivalent Simple interest rate.
(All above have the same effect.)
Any one that can translate this site in other languages please do so.
