Banks Failing To Help Customers Struggling Due To Interest Rates

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  • Опубліковано 19 тра 2024
  • As Aussies struggling with their rising mortgage repayments, it’s been revealed that our banks are actually making it worse by refusing to help their under pressure customers.
    So, do the banks owe it to us to do better for us all?
    Financial Rights Legal Centre’s Alexandra Kelly joins us.

КОМЕНТАРІ • 22

  • @pengily_emi
    @pengily_emi 12 днів тому +79

    I’m down $137k this year, scared my bank or brokerage will fail. Savings are dwindling due to high prices and debt.

    • @Stevierockie
      @Stevierockie 12 днів тому

      Government stimulus helped Americans save, but I don't expect this trend to continue.

    • @RockRex-lx7lg
      @RockRex-lx7lg 12 днів тому +1

      Pandemic savings are gone for middle and low-income families. My trading skills need improvement.

    • @SantosCliff
      @SantosCliff 12 днів тому

      Desiree Ruth Hoffman, my market strategist, says the S&P 500's drop clears a path for a rally. She’s a great resource.

    • @Stevierockie
      @Stevierockie 12 днів тому

      Plan properly or consult a seasoned professional with a good track record like Desiree.

    • @SantosCliff
      @SantosCliff 12 днів тому

      Be cautious, but definitely look into Desiree Ruth Hoffman. She's taking new clients now.

  • @LaLaLa130878
    @LaLaLa130878 13 днів тому +4

    Banks are there to make profit for shareholders.

  • @robertlee8862
    @robertlee8862 13 днів тому +2

    Unfortunately borrowers also naively took up too much loan that sinked them . Also bought houses are too big for small family 🙄

    • @jakichan4
      @jakichan4 8 днів тому +1

      Had the good easy times with1% rates etc. Those days are gone

  • @tkjudas
    @tkjudas 11 днів тому +1

    They don't care and all they care is profit.

  • @aoca3817
    @aoca3817 14 днів тому +1

    21 Solar Earth yrs, just to save 4 a depost 4 an average home @ 550,000$. It ain't what it used 2b, it ain't what it used B2.

  • @morganoox3838
    @morganoox3838 13 днів тому +1

    Surprise 😂
    Keep voting labor everyone. Theyre here to help! Everything's fine 😂

  • @eddyeroyal6024
    @eddyeroyal6024 13 днів тому

    This is happening even in the USA, some people are too proud to ask, once you get over that then it will be better, but the person can’t wait too long or over 60 days.

  • @Spacemonkeymojo
    @Spacemonkeymojo 13 днів тому +1

    "I borrowed too much, give me money to pay the mortgage off." Just you wait, the gov will give tax payer money to mortgagors.

  • @adiintel1
    @adiintel1 14 днів тому

    I thought they closed all the branches down and are going cashless very soon?

  • @arclux
    @arclux 14 днів тому +3

    Hopefully, the government will get their inflation under control instead of introducing even more inflationary policies 😒

    • @darkhorseman8263
      @darkhorseman8263 13 днів тому

      Nothing they can do. International billionaire tax cuts are to blame.

  • @prancer4743
    @prancer4743 13 днів тому +1

    It’s the person borrowing to much is not the banks problem 🤔🤔🤔🤔🤔 simple don’t borrow so much 🤔🤔🤔🤔🤔

    • @morganoox3838
      @morganoox3838 13 днів тому

      The average price of houses in Sydney is 1.6m. The cost of rent is more than repayments, and you can be kicked out for any reason at any time. You say that like people have a choice. They buy the cheapest they can and then the government crushes them anyway.

  • @strikeforce448
    @strikeforce448 13 днів тому

    The banks "assistance" during covid, no doubt, has a part to play in how we got to this point.
    Although they paused repayments on mortgages for borrowers in hardship during lockdowns, they continued applying interest. Adding thousands of dollars to the balance and possibly tens of thousands over the life of the loan. While their help may have meant a short-term profit, dip they ensured that it created a long-term gain from those who needed assistance