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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I'm curious about whether I can lodge a claim against CBA in

Customer Question

Hi. I'm curious about whether I can lodge a claim against CBA in relation to a Hardship case on a Property Investment Loan.
JA: What state are you in? It matters because laws vary by location.
Customer: Queensland
JA: Has anything been filed or reported?
Customer: I applied for Hardship back in January 2016. I asked Lady from CBA if I could sell property and enter into a payment arrangement with debt outstanding. She said 'No'. Property is in Gladstone. Rental appraisal when house was built was min of $750/week. Highest rent I've received is $560/week. Went through a company called Property For Wealth. 3 months after house was completed (~2012/13)asked agent to appraise property as I wanted to get rid of it. Property was worth ~$50 000 less than valutation by bank. Asked CBA about this, they responed with 'That is a question for your mortgage broker'. Rents have been decreasing since it was 1st leased. Rent is now only $260/week for 4bed/4bath home. Repayments are ~$2500/month (interest only). I have used all my savings, maxed out credit cards paying for property till I have nothing left and am living week to week. CBA kept approving Hardship apps. August 2016 house was vacant for 1 month, CBA approved Hardship (I payed no monies to loan that month, I now only have rental income minus monthly rates payments to give). House was leased in September for $260/week (12 month lease). When I applied for Hardship again CBA requested a copy of tenant agreement which I gave them. They then declined my Hardship case and referred me to Realizations. I was sent a default letter from CBA solicitors and the bill from the solicitor ($333). I lodged a complaint with CBA as I found out they shouldn't have declined my request to sell the property back in January 2016. Person handling complaint said He listened to recording and said that I assumed that I couldn't sell property and the Lady I was talking to didn't confirm or deny. It is correct that did have the assumption that I couldn't sell, but I know I still asked and the answer was No. My loan was re-directed back to Hardship Dept and was told I would be given time to sell. The issue now is that I have to wait till the end of November (RTA rules state can't list a property for sale in 1st 3 month of tenant agreement) before I can put property on the market. The other issues are that I'm far worse off than if I had sold property in Jan 2016. Legal Aid have said because I didn't have a contract, I can't pursue reimbursement. The frustrating thing about that is I had an appraisal from an agent to sell but didn't put it on the market due to CBA saying I couldn't sell it. The other issue now is that due to a new 12 month lease with such low rent, the agent thinks this is going to affect the ability to sell. Also, debt is accruing on my loan even though I have proven that I wanted to sell in Jan.
JA: Anything else you want the lawyer to know before I connect you?
Customer: There is probably going to be close to $140-150 0000 outstanding debt after selling property. This was so out of my control. I don't know how CBA can reasonably think anyone can cover a shortfall of ~$2000/month indefinately. The reason is the low rents in Gladstone, not my bad management of money.
Submitted: 5 months ago.
Category: Australia Law
Expert:  Leon replied 5 months ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 5 months ago.

Good Afternoon

I am nit sure what you mean about lodging a claim against them. You are within your rights to ask fro hardship assistance form them but if they refuse you can report it to the ombudsman for assistance.

Did you have any of this in writing or was it just over the phone?