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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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BFCSA: Dear Mathias Cormann - Funerals are very hard to cope with on single pension

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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7 August 2016

 

Dear Mr Cormann,

I am one of the many Retirees caught up in the Sterling New Life debacle which has left us with all our money stolen by the people who set the company up and by using our hard earned funds lost it all with very bad management.

This is a very stressful thing to deal with especially when we are of an age that we have done our bit for Australia and invested our hard earned money with the expectancy of a secure future with a 40 year lease. 

In my eyes this is criminal and fraudulent behaviour and those involved be dealt with accordingly.

We are demanding $28.6 million be paid to us all asap.  Next week would be good

Many of the Retirees are battling with ill health and two of us have both lost our Husbands this year.

 

As if that isn't enough,arranging Funerals and all the other things that incur with losing a loved one is very hard to cope with, plus now existing on a single aged pension.

ASIC have just sat on their hands and have totally let us all down. 

We need our money back NOW!!

Yours sincerely 

Valerie 

 

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