SECRET DODGY DEAL BACKFIRES

Another wrap deal turns sour.

Article originally published AUGUST 11, 2004 –Reviewed and approved.

By Neil Jenman

“Psst, are you there? Can you talk?”

It’s us. AFD, the finance company. Henry Kaye’s old money buddies.

And here’s a deal, just for you. But, please, don’t say anything.

Now, listen carefully and keep it to yourself. It’s about that loan you have with us.

The one that Henry Kaye’s mob arranged so you could buy his wealth course. Yeah, that course which promised to pay for itself in six months. If not, you could have your money back. Yeah, you got it.

But when you discovered the wealth course meant wealth for Henry and misery for you, well you were stuck with a four-year debt to us for about $20,000.

How’s that? Stitched up real tight, weren’t ya?

And, you know that 100 per cent money back guarantee you were offered? Well, what a laugh that was, eh?

You see, Henry Kaye’s company was called the National Investment Institute (NII) and you borrowed the money from another company called Australian Finance Direct (AFD).

Well, that’s us.

Henry might have gone, but we haven’t. You still have to pay us, you know that. And you know we have been threatening lots of Henry’s clients.

Hurts, doesn’t it? It’s one thing to get conned and lose your money, but to be reminded of it each month for the next few years when you have to make those payments, oh, that’s PAIN.

But, maybe, just for you, we can stop the pain. Now.

Listen carefully.

You are part of the class action against us through Melbourne law firm Slater & Gordon. Thousands of people were hurt and, if things go badly for us, all those people in the class action could be released from their loans. And that could cost us squillions.

Our big daddy company back in New Zealand, the Hanover Group, well they are not happy about this at all.

Okay, so here’s the deal.

Give us all the documents you have got from Slater & Gordon. Let us see all the letters between you and them. And don’t let them know that you are doing this. Just between you and us, okay. You can trust us.

If you agree to this deal, we will release you from your loan. Straight away. Right now. For you, the pain can end. Just give the word and we take-off the thumbscrews.

“Whadaya say? Good deal, huh?”

Take a hike.

Ah, it’s great to see decent consumers refusing to rat on their mates to rats.

Yesterday, in the Victorian Supreme Court, finance company AFD was ordered not to approach class action litigants, nor to offer any inducements in return for confidential information.

AFD was also ordered to pay all the legal costs of the hearing.

Last night, a legal expert described AFD’s conduct as “unethical” and “appalling”.

Tell us something we don’t know.

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