Conspiracy of Silence -- Are you being robbed by your Bank?

[IanF]

Nope, you have it right!
The fact is, with securitisation, a third party has settled your debt with the Bank; they are also insured against default on payments. Since the Bank has been remunerated for your 'loan', they do not have the legal right to lay claim to your property anymore. Yet they will never disclose this, unless forced, and will continue to bully us as long as we take it, and don't make too many waves.
There are several cases for property repossession in South Africa that have recently been withdrawn (unconditionally) by the Banks, because the bonds were securitised.
Please don't just take my word for it; investigate the links I have posted for yourself.

OK now someone else has paid your loan (cession to this organisation) you still owe on the loan. This is then administered by the bank and you still owe it. Where can you show value paid. Isn't like financing a car you are the owner but the bank has the title to the car until you settle. How do you prove you have paid?
Then lets extend this to your company doing invoice discounting. After that how can you claim from your customer as you have been paid and then the customer refuses to pay the invoice.

[Darkangelyaya]

OK now someone else has paid your loan (cession to this organisation) you still owe on the loan. This is then administered by the bank and you still owe it. Where can you show value paid. Isn't like financing a car you are the owner but the bank has the title to the car until you settle. How do you prove you have paid?
Then lets extend this to your company doing invoice discounting. After that how can you claim from your customer as you have been paid and then the customer refuses to pay the invoice.

1. It is not ceded, it is bought outright from the Banks;
2. The Bank is never appointed to administer the loan;
3. Your contract is between you and the Bank, not between you and the 'debt owner';
4.The Bank must answer the simple question whether your specific debt has been securitised or not - you don't have to prove you paid - they have to prove not paid (not securitised);
5. It is exactly like financing a car - often credit card debt and vehicle finance also get securitised;
6. For more in-depth legal information, please contact NewEra, as I'm not a legal boffin at all, I'm merely putting the info out there for everyone to make up their own minds - I have a hard enough time already getting simple answers from my banksters.
7. Securitization is a multi-billion dollar industry, also in SA, info is freely available on Banking Regulatory websites in SA.

[kcrampono]

please feel free to read actions taken against the by Ubuntu Party on www.ubuntuparty.org.za we not here to oppose political parties we here to see all South Africans be treated as Humans this is our land.....

[Dave A]

@Scotty
Vanash has made some interesting points in his posts. Do you have any comment other than look at the website.

I guess not.

please feel free to read actions taken against the by Ubuntu Party on www.ubuntuparty.org.za we not here to oppose political parties we here to see all South Africans be treated as Humans this is our land.....

You see, that's the problem. I look at your website and instead of getting answers I find I've got even more questions.

Here's an example taken from your UBUNTU position on mines and mining:

A Council Of Elders will be appointed by the people of South Africa, consisting of the most trusted and respected individuals, to look after the interests of the people in this regard – this council will have absolute control to implement the will of the people – not the will of the corrupt politicians who are controlled by powerful multinational corporations.

Who will appoint the Elders?
What will be the process?
How will they determine the will of the people as to what needs to be done?

[Blurock]

OK now someone else has paid your loan (cession to this organisation) you still owe on the loan. This is then administered by the bank and you still owe it. Where can you show value paid. Isn't like financing a car you are the owner but the bank has the title to the car until you settle. How do you prove you have paid?
Then lets extend this to your company doing invoice discounting. After that how can you claim from your customer as you have been paid and then the customer refuses to pay the invoice.

If you discount an invoice, the factoring company will collect the debt on your behalf as you have sold all your rights to the proceeds of the invoice to them. If the debtor defaults, the factor can still claim from you in a "with recourse" agreement as you are guaranteeing payment by the debtor. Non-recourse agreements are not normally done in South Africa due to the perceived risk.

You may also have an arrangement where you discount an invoice or debt, but the factor allows you to collect the debt on their behalf. This is called a non-disclosed agreement.

When you pay the shop by credit card, the same principles as with factoring applies. The shop owner "discounts" the invoice with the card company who in turn will collect from the card holder.

[Darkangelyaya]

Sheesh,
I'm back... what a week!
a) Nobody told anyone to not repay their legally owed debts;
b) Check out the poll results to see how much trust and faith we have in banks;
c) Be informed - wake up, and investigate every aspect of your life - it's called being present, living in the now, etc...
d) If a rich uncle of yours died and paid off all your debt, would you still insist on paying your bond back to the bank?!!!
Sigh...
I just obliterated my last remaining shred of dignity by tripping UP some steps.
Viva Ubuntu.