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BFCSA
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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: Why don't you come clean BANKS and tell everybody why decent honest law abiding citizens have all of a sudden become serial non payment offenders.

Posted by on in ROYAL COMMISSION URGENT
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Comment by Stanford - Posted on Wednesday, March 5, 2014

No wonder we cant get any justice the bloody banks have that much Government backing it is farcical. Banks have been controlling Government Policy since everyone in Government started worshiping FREE  MARKETS.  The current Federal Government refuses to reign in the Banksters, and refuses to expose the Fraudulent Mortgage Scam gripping Australia, the past 15 years.  Now the Banks are pulling the governmental strings and people are losing their homes that were already owned and mortgage free five years before.  ASIC failed to reign in the Spruikers and the Creating Wealth Scammers.  There will be a heavy price to pay for this folly.

Here is just yet another example of the lengths that our political parties will and have now gone to to make sure our banks are protected and can use falsified exaggerated examples of how a customer has not met their obligations.

Why don't you come clean BANKS and tell everybody why decent honest law abiding citizens have all of a sudden become serial non payment offenders.

Lets all lay our cards on the table to see where the real problem lies, I would like my (and I am happy to do so if someone of officialdom from Government would like to oversee the process - but I doubt it, they wouldn't understand it) records of payment PRIOR TO BEING DEFRAUDED BY MY BANK and then my current record of payment POST (YET STILL UNRESOLVED) DEFRAUDING BY MY BANK.

I am telling you now GOVERNMENT and you had better listen because the next WAVE OF FRAUD BY BANKSTERS is just around the corner, if you do not fix this BANKSTER CRISIS ----- NOW ------ no one will be paying their bills unless they are employed by BANKS. Lets face it that won't be a lot of tax paying citizens because as we all know MOST BANK JOBS GO OVERSEAS. What a marvellous industry our BANKS, rip off people at home and leave them destitute, send the work offshore and pay massive bonuses to their executives who retire to far off lands and spend all their ill gotten gains away from Australia.

Gee that really works in our favour Mr Abbott and Mr Hockey, no wonder we want to set up a registry of the average folk and their total avoidance of the obligations or late payments. We certainly should be proud of our record of being the last country in the world to bring our Filthy Banking and Finance Industries into line while we expose those mongrels like Mrs Jones down at Number 48 that was shockingly 2 days late on her $327.34 electricity bill who had to set up a payment plan because the sheriff was coming to take her house the next day on behalf of the BANKSTERS.

We are fast becoming the laughing stock of the rest of the western world holding out to say that our systems did not allow systemic looting by Banks of citizens properties. They are the most deplorable of industries and they are right back doing the same products under different names.

These Banks are now trying to tell us this registry will stop bad risk customers from getting credit and yet they wrote the size of the loan that they knew would be unaffordable in 5 years or less to strip assets of their customers at their last cull of mortgage holders.

Don't be fooled people never take a LOW DOC or NO DOC Mortgage and try not to use Banks wherever possible (also check with a lawyer on full doc loans) because using a Bank for anything is a sure fire way to end up on one of these lists.

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  • doyla66
    doyla66 Wednesday, 05 March 2014

    Seeing our governments apparent affection for corporates, we could start to believe that they make up the majority of workers. The statistics show otherwise, according to the writer:
    Australia's workforce is about 11.5 million: of these, 8.1m are in small business, 1.7m work for government, and 1.7m are in medium and big business.
    The 8 million in small business far outweigh the 1.7m in each of the public and corporate sectors.[/i]
    Then there are also the following stats:
    7.4 million community volunteers
    7.5 million people outside the paid workforce
    Every one of these people has the opportunity to express themselves at election and by-election times.
    Most of these people pay taxes and every one of them pays GST.
    The government should read this and think about the real meaning of contribution to the Commonwealth of Australia.
    Small business and volunteers are an essential part of what keeps this country functional.
    The corporate sector in Australia is relatively small.
    So why pander to them or try to copy them?

    As far as credit business goes, if every one looked at what credit accounts they have and tried to dump as many as practical, that could start to send the message that credit ratings are going to end up going the way of the dinosaurs and the dodo!
    The lead up to this invasion of our privacy, affecting every Australian of voting age, will hopefully do so much damage to the credit industry that Banks and other credit providers will be lobbying for an Inquiry into where all their former credit clients went to.

  • doyla66
    doyla66 Wednesday, 05 March 2014

    Robbing the innocent

    By a staff reporter

    Home loan provider RHG Ltd posted a fall in full-year profit and said it expects future years' profits to be materially lower as its mortgage book is now closed.

    The group's net profit attributable to members fell 25.5 per cent to $30.3 million in fiscal 2013, from $40.7 million in the prior year.

    Its revenue dropped 19.7 per cent to $59.6 million in the year, compared with $74.2 million in the previous corresponding period.

    RHG has not declared a final dividend.

    The director of RHG took home a salary of over (2013) $650,000+$380,000 bonus!(for directing staff to continue to look after their 'profit' from fraud - what a stomach churning disgrace- RHG would like to give me $52,000 to be out on the street with my children- how do I explain greed, fraud, excess,cover-ups and homelessness to young children??

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