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updated 25 December 2008 10.30hrs. Menu (Link):  XL Downloadspage  What I Did    What Westpac Bank did    What you can do    Solution   

READY RECKONER  [Compound Interest Rate to Simple Interest Rate]

RATE INCREASE              When     LOAN WILL NEVER BE PAID OFF !!!  

VIEW Documents VIEW Jan 2008 COURT DECISION Confirming the Compounding Monthly

Breif features of this case:

1.             The question before Justice Bowman on 18^th June 2007 was to decide if there is a case at all in my submission to proceed further with hearings or not? This is the meaning of Section 75 application.

2.             Justice Bowman heard the counsel for NAB for 25 minutes and then my arguments to continue the hearing for 50 minutes. On 20^th June 2007 he allowed me to submit for 40 minutes against CBA on behalf of my (so called) friend Mr Rao who claimed not knowing much in law but immediately after 20^th June 07 he told me that he believed Justice Bowman would ‘club both cases’ and give his judgment, a point I never came across before and ignored that day, but that is what Justice Bowman did!!!.

3.             At the end of (both days of) my submissions, he ‘reserved the judgment’. No further contacts or communication until 23^rd January 2008 when he decided to dismiss my case not to continue the hearing further, on the only grounds that the loan agreement showed the ‘total amount repayable over the term of loan’. Please read below…..