Lodging stay of execution (possession) against bank

Discussion in 'Legal Issues' started by Cimbom, 27th Jun, 2016.

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  1. thatbum

    thatbum Well-Known Member

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    I'm confused about this. If the lawyer thinks you have a defence, then you should be lodging one and opposing summary judgment on the substantive court proceedings.
     
    thatbum, 30th Jun, 2016
    #21
    Terry_w likes this.
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I just read an interest case, a NSW Supreme Court of Appeal case where the person represented themselves, and won:

    Atle Crowe-Maxwell in his capacity as liquidator of I & K Frost Pty Ltd (In Liquidation) v Frost [2014] NSWDC 153
    Crowe-Maxwell v Frost - NSW Caselaw
     
    Terry_w, 30th Jun, 2016
    #22
  3. Cimbom

    Cimbom Well-Known Member

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    it was just a standard payment arrangement that the bank agreed to after we lodged a dispute with FOS. The technicality was that we had a nominated day per month that we had to make the normal repayments in addition to $x per month. They provided for a 7 day grace period (that apparently wasn't really a grace period) to allow us to catch up on the payments if we didn't make it for any particular month. Upon relying on this, we later found out that this still constituted a breach and they proceeded with legal action. The lawyer I saw said that he agreed that the 7 days term was written in such a way that would lead you to believe it was a grace period and the payment would be treated as being made on time - FOS and the bank didn't agree.

    I'm not sure if it's a "defence" as such. It was about the wording used in the payment arrangement administered by FOS which we signed (as I have described above). The FOS dispute is now closed and they are not allowing me to lodge any new disputes about this matter so it's pretty irrelevant going forward.

    The legal centre also said they would be unlikely to be able to represent us in court - they can only offer general legal advice. He advised against court anyway as we could be liable to pay the bank's costs which would likely be substantial.
     
    Cimbom, 30th Jun, 2016
    #23
  4. Joynz

    Joynz Well-Known Member

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    What is FOS?
     
    Joynz, 30th Jun, 2016
    #24
  5. Cimbom

    Cimbom Well-Known Member

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    Financial Ombudsman Service
     
    Cimbom, 30th Jun, 2016
    #25
  6. Joynz

    Joynz Well-Known Member

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    Thanks for that.

    So it sounds like you got behind, then bank tried to foreclose, so you went to FOD who helped you get a payment plan, then you got behind with those repayments - thinking you had an extra 7 days each payment - and now they are foreclosing?

    How long has it taken to get to this point from first getting behind?
     
    Joynz, 30th Jun, 2016
    #26
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