Farmers being held to ransom by dodgy rural finance company "Landmark Rural Services"

Stories of Finance companies taking advantage of consumers are nothing new. The banks have been accused of it regularly.

But when Finance companies target struggling farmers and engage in dodgy tactics to boost their profits from extorting money from recently flood ravaged farmers it is stooping to a new low.

Consumer Warning has received complaints from struggling farmers who have become victims of alleged dodgy lending practices from rural finance services giant Landmark.

Scandals and controversy are not new to this company as Landmark is owned by AWB the Australian Wheat Board which has a tarnished reputation from its alleged bribes to Saddams former Iraqi Government. Landmark desperate measures to take advantage of struggling farmers no doubt is to boost its tumbling profits and its poor management practices. Landmark is also reportedly the target of private equity funds who see it as such a badly managed company that properly run would improve its performances greatly.

It is alleged one struggling NSW farmer had almost $16,000 in penalties and fees added to a $200,000 stock loan despite it never being owed nor agreed to it terms and conditions and continued to be pursued after Landmark banked a cheque for full and final settlement.

Apparently Landmark not only alledgedly unfairly dismissed an employee who it blamed for the error but instead of making an apology Landmark continued to threaten the farmer to pay or else.

The farmer then when wanting to purchase a tractor recently had finance declined when it was reported that Landmark had defaulted them for $16,000 it claimed it was owed despite having already banked a cheque for full and final settlement months prior. And the $16,000 never being owed in the first place which from our investigations has been confirmed. The farmer said a Landmark employee by name of Ross Williams continued to fail to acknowledge Landmarks errors and continued to make further legal threats

The farmer reported that when trying to resolve the issue they were simply threatened to pay up or else Landmark would cause significant damages and attempt to silence the farmer when he stated he would publicly expose their abuse.

The matter has been reported to Veda Advantage as it is illegal for Finance Providers to lodge a default when no contractual agreement for the monies exist nor any proof of the amount is owed.

The Financial Ombudsman and the ASIC are also being informed of Landmarks abuses. Let's hope Landmark does become a take over target and new Management hired to fix up what was once a well respected company.

If you have also had negative experiences from Landmark especially if your a farmer please inform us at Consumer Warning so we can continue to assist and expose Landmarks alledgely dodgy tactics to profit from farmers and illegal practices.