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Reading Time:

3 minutes

Published:

03 February 2014

Open Letter to the Prime Minister

Battlers seek help from our leader.

Dear Mr Prime Minister

Re: National Investment Institute Pty Ltd (NII) and
Australian Finance Direct. Pty Ltd (AFD)

We signed-up with NII on 16/06/03, not knowing that thousands of complaints had already been made since 2001 about Henry Kaye, NII and other Kaye companies.

My wife and I were talked into signing a finance contract with AFD for $15,000 and we only went to the introductory weekend part of the course.

NII consultants, who were also the AFD representatives, promised that within four weeks the course would be paid for and they would show how easy it all was.

My wife and I have only one wage in our household

The NII consultant knew that we couldn’t afford the payments of $420.00 a month.

Within a week after the introductory weekend we realised that no-one was helping us and that the promises they made us were lies to steal our money so that the greedy consultants could get their commissions.

Like so many others, it took only one day to realise we had been conned. By then it was too late. AFD and NII ganged up and refused to break the contracts. What a turn-around from their attitude when they were making us all those promises.

We do not understand finance. We hadn’t purchased a property at all. We were told we didn’t need equity or assets to buy property. This was obviously nonsense.

Now we have had to borrow money and drive ourselves further into debt in order to pay the monthly loan. Plus, we have had to cut back drastically on food and essentials to avoid the bailiff from taking our furniture. Life is hell for us.

We don’t own a house, we rent. It is the cheapest rental we could find. We can barely keep our heads above water.

Mr Prime Minister, please tell us what we can do to rid ourselves of this debt? We simply wanted to know about finance and how to make our lives a little better. We are not greedy people. We are just battlers trying to get ahead in life.

Now we discover that the Australian Securities and Investment Commission had known about Henry Kaye and the finance companies for a very long time.

We are at a loss to understand why all this has happened, not just to us, but to all the others as well. How can the government with its millions of dollars given to ASIC to protect consumers, allow so many consumers to get so easily ripped off?

We were told that the NII courses were all government approved. We thought that no company could make the claims made by NII unless they were true.

If these companies had been dealt with when the first complaints were known, we would not have fallen for this horrible scam.

We need your help. Please. We have nowhere else to turn.

Yours Sincerely

Mr and Mrs Carter
WA

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