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BFCSA
MORTGAGE
DISTRESS SOS

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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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Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

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BFCSA: Comm Bank likely to be the leaders in toxic low doc lending. Bring in the AFP

Posted by on in ROYAL COMMISSION URGENT
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Time for the Government to agree to Royal Commission into Banks.  CBA was not the only BAD BANK.  Westpac, NAB and ANZ all had a hand in stealing people's homes.  Stealing means to take by stealth something which does not belong to them.  There was nothing secure for customers, but YOUR hard earned security was worth the criminal activity the banks stooped to during the past 15 years.

Now our people are mired in debt.  Interest rates at 2.5%.  Default on toxic loans and you will be slugged 14% and up to 18%.  The Loans were designed to implode within 5 years.  These frauds were created at the executive suite of the biggest banks in Australia.

The crimes cannot be hidden for much longer.  I pity decent staff who work in the bankign and finance sector.  This next phase will be hard to watch as the awful truth is told by those who borrowed on bank strategies to enhance their retirement, only to lose the lot, including their homes.

These sub prime lending activities need exposing - so where are the Australian Federal Police?  This is your jurisdiction and this is your problem!

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  • doyla66
    doyla66 Wednesday, 07 May 2014

    Good question - where are the AFP? Have any of the Senators quizzed the AFP about this?
    We heard from the CDPP about their relationship with ASIC and slowness to attend to white collar crime.
    At present borrowers are having to go to the local police and even shop around until they find a police station that is willing to listen to their story, one at a time. Many stations do not have staff that understand the problem. It's not standard police work. This is leaving borrowers with legitimate and documented proof of fraud, forgery and tampering vulnerable to having their homes stolen by Banks who manipulate the Law to suit themselves against undefended home owners, DESPITE THE WRITTEN PROOF. The average home owner with documentary proof lacks the skills and confidence to take on a Bank in a Criminal case. What can they do now that Banks are trying to sell up as many victims as possible in their seasonal cull before the end of the financial year?
    We may have to divide up all the victims of toxic loans into groups and take class actions for criminal damages against the respective lenders asap in order to achieve affordable justice.

  • doyla66
    doyla66 Wednesday, 14 May 2014

    I agree why should they get away with wrong doing where victims suffer...

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