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Mr sp I would have to say if I was offered a loan at 8% and the banks were somewhat lower, then oh well, a mug and their money.
Mr sp I would have to say if I was offered a loan at 8% and the banks were somewhat lower, then oh well, a mug and their money.Sounds like they could afford it.
It is weird that the lenders had no problems lending money at 8% to house buyers, when the banks obviously were lending at lower rates.
It's sad when any group rip off their own.
Or a mug with too much money, that someone wanted to relive them of, there is a lot of that going on ATM, on many fronts, emmotional. Political and social.Mr sp I would have to sy if I was offered a loan at 8% and the banks were somewhat lower, then oh well, a mug and their money.
so it would appear there is no shortage of mugs/losers. She and me hang onto it with a vice-like grip. Farm machinery being the exception of course.Or a mug with too much money, that someone wanted to relive them of.
Back a few decades before no doc and low doc loans, people who had a "battling business" while driving a new car every year had difficulty getting a home loan.Mr sp I would have to say if I was offered a loan at 8% and the banks were somewhat lower, then oh well, a mug and their money.
Back a few decades before no doc and low doc loans, people who had a "battling business" while driving a new car every year had difficulty getting a home loan.
Other Funny money went to the solicitor then the battler would borrow and pay a slightly higher interest than banks
It was funny money looking for a return that was borrowed by people who also had some funny money but needed a mortgage.
Once a bit of equity was gained they could then approach a bank and get a standard morth
@maca Having never dealt in or with "funny" money I do understand the logic that you have posted here.Back a few decades before no doc and low doc loans, people who had a "battling business" while driving a new car every year had difficulty getting a home loan.
Other Funny money went to the solicitor then the battler would borrow and pay a slightly higher interest than banks
It was funny money looking for a return that was borrowed by people who also had some funny money but needed a mortgage.
Once a bit of equity was gained they could then approach a bank and get a standard mortgage
Or a mug with too much money, that someone wanted to relive them of, there is a lot of that going on ATM, on many fronts, emotional. Political and social.
When times get tough, only those with a long term plan survive.
Thanks @sptrawlerAnother person being scammed, or another person not being able to say NO, to themselves?
When Janene Thacker was sent an e-contract in exchange for a new household item, she said the cost would often go "straight over" her head.Disability pensioner charged $6,760 for renting a phone that retails for around $1,800
Centrepay is an online tool designed to help people on Centrelink pay for essentials like rent or bills through automatic deductions. But financial counsellors say the government service is instead being misused by some providers to exploit vulnerable Australians.www.abc.net.au
"You're not initially thinking about what you're going to be paying," she told 7.30.
With limited savings, the disability pensioner used appliance rental stores for decades, unable to purchase goods outright.
In February 2021, it was a lounge for $4,056. In September, it was a tablet for her mum for $1,586, and in November, it was a fridge, for $6,240.
Filling her home with furniture and appliances made Ms Thacker feel like everyone else.
"I felt I was up there for a little while, you know what I mean?" she said.
Last year, another rental appliance business, Rent4Keeps, signed Ms Thacker up for a Samsung S21 phone. The mobile retailed for about $1,800 but she was on the hook for $6,760.
"They may be brand new products, but you're paying four times the money for them, so how do these companies get away with that?" Ms Thacker asked.
The businesses would take fortnightly payments out of Ms Thacker's Centrelink benefits through a government-administered service, Centrepay.
The online tool is an automatic bill-paying service linked to a client's Centrelink account.
An approved provider directly arranges contracts with Centrepay's 600,000 monthly users, taking repayments before the money hits their bank account.
Last year, another rental appliance business, Rent4Keeps, signed Ms Thacker up for a Samsung S21 phone. The mobile retailed for about $1,800 but she was on the hook for $6,760.
"They may be brand new products, but you're paying four times the money for them, so how do these companies get away with that?" Ms Thacker asked.
NO it would make no difference, from my life's experience, that is going from my parents, to my friends and my workmates.Thanks @sptrawler
Financial Literacy classes in school might prevent future Mrs Thackers from over-extending themselves
The difference is in years gone by, people ended up impoverished for their poor decisions, now the issue is not poor decisions but someone not informing them of their poor decisions.Having said that, many people have an unrealistic sense of distance from their poor decisions in that they blindly pursue actions assuming that there is a god or a government department out there that will protect them. Unfortunately there is no such god or department.
Unbelieveable that that this woman can rake up this sort of debt just to feel good.Another person being scammed, or another person not being able to say NO, to themselves?
When Janene Thacker was sent an e-contract in exchange for a new household item, she said the cost would often go "straight over" her head.Disability pensioner charged $6,760 for renting a phone that retails for around $1,800
Centrepay is an online tool designed to help people on Centrelink pay for essentials like rent or bills through automatic deductions. But financial counsellors say the government service is instead being misused by some providers to exploit vulnerable Australians.www.abc.net.au
"You're not initially thinking about what you're going to be paying," she told 7.30.
With limited savings, the disability pensioner used appliance rental stores for decades, unable to purchase goods outright.
In February 2021, it was a lounge for $4,056. In September, it was a tablet for her mum for $1,586, and in November, it was a fridge, for $6,240.
Filling her home with furniture and appliances made Ms Thacker feel like everyone else.
"I felt I was up there for a little while, you know what I mean?" she said.
Last year, another rental appliance business, Rent4Keeps, signed Ms Thacker up for a Samsung S21 phone. The mobile retailed for about $1,800 but she was on the hook for $6,760.
"They may be brand new products, but you're paying four times the money for them, so how do these companies get away with that?" Ms Thacker asked.
The businesses would take fortnightly payments out of Ms Thacker's Centrelink benefits through a government-administered service, Centrepay.
The online tool is an automatic bill-paying service linked to a client's Centrelink account.
An approved provider directly arranges contracts with Centrepay's 600,000 monthly users, taking repayments before the money hits their bank account.
Thanks @basilio. I did a search and found a clearer description of Octo's mode of action and some protection members with android phones might use. It is an Android Phone Malware.Danger !!! Danger !!! Danger !!
Maybe a bit over the top.. ? I suggest absolutely not.
This new piece of malware for your phone is elite. A very dangerous tool to end up on your phone. Could very well clean up your bank and share portfolios
The malware is powerful — it can record your calls, harvest your contacts, evade antivirus, bypass multi-factor authentication, log what you type and send you text messages.
It can also perform what's known as overlay attacks, which is what happens when hackers superimpose a fake login page over an authentic app, like the ones above, to trick you into giving up your credentials.
Exclusive new data obtained by the ABC has uncovered what appears to be the first major distribution campaign of the malware, with Australians identified as specific targets.
How cybercriminals are using bogus login pages to steal your banking information
The story of how 'Octo' malware's tentacles are reaching phone screens across Australia
Fake Australian banking apps that look like the genuine article are appearing on the internet. Test your knowledge and see if you can tell the real from the fake.www.abc.net.au
(I don't know what is happening with my computer)
Not being very computer ;iterate or i-phone savy, I only answer ph calls that have a name attached to them, so I do know who is trying to contact me. With the computer unless the e-mail address is also known then it is usually replied to otherwise into that thar bin it goes.Danger !!! Danger !!! Danger !!
Maybe a bit over the top.. ? I suggest absolutely not.
This new piece of malware for your phone is elite. A very dangerous tool to end up on your phone. Could very well clean up your bank and share portfolios
The malware is powerful — it can record your calls, harvest your contacts, evade antivirus, bypass multi-factor authentication, log what you type and send you text messages.
It can also perform what's known as overlay attacks, which is what happens when hackers superimpose a fake login page over an authentic app, like the ones above, to trick you into giving up your credentials.
Exclusive new data obtained by the ABC has uncovered what appears to be the first major distribution campaign of the malware, with Australians identified as specific targets.
How cybercriminals are using bogus login pages to steal your banking information
The story of how 'Octo' malware's tentacles are reaching phone screens across Australia
Fake Australian banking apps that look like the genuine article are appearing on the internet. Test your knowledge and see if you can tell the real from the fake.www.abc.net.au
(I don't know what is happening with my computer)
Not being very computer ;iterate or i-phone savy, I only answer ph calls that have a name attached to them, so I do know who is trying to contact me. With the computer unless the e-mail address is also known then it is usually replied to otherwise into that thar bin it goes.
The danger seems to be using phone banking apps on Android phones.
The user is presented with a login page that looks like the genuine bank one. Once the victim types in their account number and password the crims have access to their bank accounts.
Very nasty.
I'm with you Belfi My phone is just that a phone not used for any sort of transactions, very handy camera though.As technology progresses there is the potential for things to get even uglier. I presently use debit cards for a lot of transactions. They are not in digital wallets and I don't use my phone for anything financial expect to receive 2FA. However, I think eventually those cards will go the way of cheques and indications are that is already occurring. So once that occurs there is a high probability of an increase in fraud attempts.
I don't know what form it will take or what electronic device we will be using for transactions or when but my in my opinion both events will eventually happen.
Yep. Far more detailed description of the capacities of this malware at Tom's.Thanks @basilio. I did a search and found a clearer description of Octo's mode of action and some protection members with android phones might use. It is an Android Phone Malware.
Interestingly this article is from August 2022, so it is not new, except to the ABC, and me and other members of ASF who are not tech savvy. Perhaps it has changed it's virulence. I found the ABC article to be of poor quality. Too much fluff in the QA and causing confusion re Apple/Android.
https://www.tomsguide.com/news/octo-android-malware-can-take-over-your-phone-how-to-protect-yourself.
Once again thanks for alerting me to Octo.
gg
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