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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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Banks cracking down hard on rural borrowers

Posted by on in Bankers A Law Unto Themselves
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"Federal Parliamentary Secretary for Agriculture Sid Sidebottom, whose northwest Tasmanian marginal electorate of Braddon is home to Premium Fresh, warned that banks cracking down hard on rural borrowers had played a part in the company's difficulties."

Comment: Federal and State assistance to rural growers - why not ask the excessively profitable BANKS to back off and let growers get on their feet again? - find other markets, adapt their business to changing Australian marketplace, find solutions to supermarket chains exploitation driving farmgate prices down, get paid by their own creditors.

The writing is on the wall and this is just the beginning of this phase of Australian financial meltdown.

Unintelligent and bullying Banks have wrecked lives, farms, rural communities and destroyed access to generations of agricultural wisdom in Australia for long enough - all in the name of GROWTH, MONEY and POWER.

Kick the blood suckers out NOW.

A new financial paradigm, one involving decency and creative alternatives to destructive bankruptcy, is desperately needed in rural communities if they are going to survive at all. 

 

by: Sue Neales, Rural Reporter
From: The Australian
September 04, 2012 12:00AM

 

Colin Chaplin

Wesley Vale, Tasmania, grower Colin Chaplin says he is still owed money for carrots and onions he had sold to Premium Fresh earlier this year. Picture: Rick Eaves Source: The Australian

TASMANIA'S biggest grower and seller of fresh carrots and onions is on the brink of bankruptcy, with debts of more than $6.6 million and voluntary administrators called in.

Family-owned vegetable company Premium Fresh Tasmania is the fifth mega-sized vegetable business in Australia to suffer financial woes, blaming low prices, rising costs, the impact of the high Australian dollar on exports and the supermarket discounting war between Coles and Woolworths.

In the past 18 months, Australia's two biggest tomato growers, Queensland's biggest capsicum business and one of the nation's biggest strawberry growers have faced financial collapse with debts of $10m to $31m each.

The decision of the three Ertler brothers of Forth, near Devonport, to appoint Deloitte to see if the 55-year-old company can trade its way out of difficulties in the next two months has again focused attention on the plight

of vegetable and horticultural industries.

Yesterday vegetable grower group AusVeg called for immediate government intervention and a national summit to end the spiralling crisis hitting some of the best and biggest vegetable producers in Australia.

http://www.theaustralian.com.au/news/nation/growing-pains-as-vegie-giant-hits-the-wall/story-e6frg6nf-1226464286169

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