“The Winning Borrower”
An IT executive phoned me one day, just after I had spoken to a farmer. The bank had just seized the total crop proceeds of the farmer. The IT expert had a similar problem. His bank account had also been frozen after a large deposit had been made into the account. The bank’s receiver took it all.”
So begins “The Winning Borrower”, the story of how one Sydney Chartered Accountant with a farming background became a “
farm debt consultant” and took on the big banks to save farms all over Australia from foreclosure.
Baseball bats to battle bank debt issues
In the process of negotiations, mediations and refinancing, he discovered the disturbing details of how banks lied, cheated and trapped the farmers in debt they could not clear without selling the farms. The author relates how untrustworthy banks have exploited customers since de-regulation in their quest for multi-billion-dollar profits. He takes a metaphorical baseball bat to the bankers to knock sense into their heads. Some of his farmer clients ended up making more profit out of their loan settlements than out of farming.
Royal Commission investigates bank loan problems
The day the Prime Minister announced that there would definitely not be a Royal Commission into the banking industry, the author sent a Votergram to each one of the 225 Federal MPs decrying the decision. Within days, the decision was reversed and the Royal Commission announced.
“The Winning Borrower” is an e-book by Greg Bloomfield a 4
th generation farmer, Chartered Accountant and CPA. He became a bank loan consultant by accident. It is available during March as a FREE e-book to help farmers all over Australia enjoy profitable and secure farming.
