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BFCSA
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What BFCSA Does...

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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Suncorp Eclipses Dads Dreams

Unscrupulous money lending by Suncorp using fraudulent tactics relieves assets and makes us pay them to do it.

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Suncorp is stealing my Dads dreams

Posted by on in Consumers Fight Back
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Dad was a retired businessman and decided to invest in property, a long held dream. He started out purchasing a small house in the southern suburbs of Brisbane. He bought and sold a few more before buying vacant blocks and building homes on them. by October 2005 he had developed a portfolio of eight properties. he had been using the same bank since 1997 and the mobile home loan lender would visit whenever he needed to provide him with more funds.In 2006 Dad spent a lot of time in hospital with another knee replacement operation and a resultant infection to keep in for an extended period of time. His oldest  son passed away suddenly at the beginning of September and he had a pacemaker inserted for his heart in October also in 2006 the mobile home loan lender of the year for Suncorp loaned him $750,000.00, in two separate loans, to purchase four more properties over a thirty year term. This is almost double the size of mortgage he already had at the age of seventy five. Dad realised that this mortgage was too big to handle and began selling off some of his beloved properties to make the loan repayments more manageable and by early 2007 he had started to regain control of his assets when along comes Mr mobile home loan lender of the year and pushes a further $2.25M worth of loans onto Dad in four separate loans within six months. Dads actual income was less than twenty thousand dollars a year and the interest payments for these loans is in excess of one hundred and fifteen thousand dollars a year. The Bank never verified his income, all it was interested in was my fathers houses and now it is coming close to Dad losing all of his dreams to the Banksters fraud.  

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  • NABbed Nanna
    NABbed Nanna Saturday, 16 August 2014

    I'll bet your Dad was a hardworking man and as you say had the one financial institution whom he trusted all that time. These brokers come like sharks, are ruthless and attack their target when most vulnerable. 4 loans worth $2.25 million in 6 months. Can you even imagine the commissions and trailing commission that went with that shark attack. Your poor fathers bones have nearly been picked clean by these criminal sharks. The Government needs to be active instead of sitting on their hands. Denise and we all have the evidence necessary.

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  • Aries
    Aries Saturday, 16 August 2014

    That's how these mongrels work, they will do anything and say anything to maximize their commissions.

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  • setup
    setup Sunday, 17 August 2014

    It is not safe anymore do do any kind of investment. Those days are long gone where we can trust the bank to have our best interest at heart. While these bank manager crooks are recieving bonuses and commissions we are not in safe hands.

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  • kddeed
    kddeed Wednesday, 20 August 2014

    Yes we know all about the sharks too. Ours came door knocking on behalf of the investment group. Should have been enough to warn us off but they sure pick their targets. We were then stitched up by the bank but it's amazing how they all pass the buck when challenged. OMG, our local bank manager what an ........, yelled at us and said "don't put this on the bank"!!! Well hello, don't loan money to people in their 60's who have no way of paying off their 30 year INTEREST ONLY loan + buffer loan!!!! Being on the Royal Commission, but into investment groups, brokers, the bloody lot!!! Excuse the language but I deserve to be angry!!!

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