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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 Prime Minister: Elderly left needing hospitalization due to White Collar Criminals and ASIC Laziness # 26

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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PRIME MINISTER OF AUSTRALIA
Hon. Scott Morrison MP
Department of Prime Minister and Cabinet
P O Box 6500
Canberra ACT 2600

Dear Mr Morrison,:

We are victims of Sterling New Life, and we are devastated and trying to come to terms with knowing that we have lost absolutely EVERYTHING we have spent years working for. The outcome of all of this has caused massive chaos in our lives, the stress has been one that we are only just managing, and it doesn’t stop with myself and my wife it has been passed on to my children, who have families of their own too.

To say we are worried is an understatement. There are so many retirees that have been affected to the extent of hospitalization, or doctors visiting frequently because of stress related issues. We are talking about neighbors, who are in the same position as us. I’m sure if this situation was happening to your parents you would be absolutely disgusted and doing everything possible to come to an outcome suitable for every individual family going through this major life changing trauma.

Asic SHOULD be held accountable for the situation we have all been put in, and do the right thing, that means compensation for EVERYTHING lost.

The Government needs to take action NOW. This major problem needs to be prioritized because many of the poor people involved in this are stressed to their limit, many don’t know where to turn and just don’t want to live anymore.

This is a sad circumstance to be in, thinking when we signed up that our retirement would be full of excitement and freedom, only to come to terms with maybe being homeless with NOTHING left of our savings to live.

 

Sincerely,                                                                         

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Guest Sunday, 22 September 2019