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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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BFCSA Blog

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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FOS 'lacks timeliness': Independent review http://www.brokernews.com.au/news/breaking-news/fos-lacks-timeliness-independent-review-185299.aspxby Calida Smylie | 13 Mar 2014   An independent review of the Financial Ombudsman Service has found the external dispute regulator’s organisational model inefficient and needs a make-over.The reviewer, consultant Cameronralph Navigator, assessed FOS against ASIC’s benchmarks for external dispute resolution (EDR) schemes – accessibility, independence, fairness, accountability, efficiency and effectiveness.It found FOS, an ASIC-approved EDR scheme, did not meet its benchmark for efficiency and caused undue delays when dealing with disputes.Cameronralph Navigator said FOS needed to take immediate steps to clear its backlog and refresh its organisational approach.It recommended FOS be more proactive and change its approach to dealing with disputes involving financial difficulty by taking a more "assertive approach"."The primary issue identified by our analysis is the configuration of FOS into a series of 'production line' steps, each focusing on a particular dispute resolution technique,” the review said.“This is designed to progressively filter out the...
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  • doyla66
    doyla66 says #
    Does anyone have a clue why once a dispute has been filed against a lender and the borrower should by chance be awarded a win in t
  • doyla66
    doyla66 says #
    FOS could be liable for breach of contract if the opinion of the Victorian Court of Appeal in FOS v Myscoski is followed i.e.
  • doyla66
    doyla66 says #
    Wow!!! What a revelation. Anyone who has had dealings with ASIC and FOS they are too well aware of all the corruption, ineptitude
  • doyla66
    doyla66 says #
    There is only one side benefits from slow process concentrating solely on speeding up the process e.g abolishing review panels etc
  • doyla66
    doyla66 says #
    "It recommended FOS be more proactive and change its approach to dealing with disputes involving financial difficulty by taking a
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If you have complaints against La Trobe, we want to here from you.  COSL are doing nothing regarding the ones that have already banked up.  I seem to recall reporting La Trobe for peculiar transactions in 1999, via letters to the ASIC Chairman, the Tas Law Society and ASIC Commissioner in Tasmania.   Hmmmmmm I more than likely have kept those files.  You probably have shredded yours. BFCSA Members are starting to appreciate the value of data-banking....................................the collective strength in swapping information, documents and also exchanging stories of experience with these lenders. Non Bank lenders are starting to explain they do not adhere to the Australian Bankers Code of Practice............well Mr O'Neill you ought to explain the HIGH RISKs of unregulated lenders and products to customers BEFORE they sign up with a non bank lender.  Same thing Treasurer Joe Hockey warned last year................................ Now that may not be profitable for business, but it...
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  • doyla66
    doyla66 says #
    I am in a battle with La Trobe. Does anyone have information on La Trobe such as copies of fraudulent documents that they could se
  • doyla66
    doyla66 says #
    we are with La Trobe latest with cosl is the end of the year. trying to get LMI forms to prove more altered figures
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