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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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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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27 May 2013  Article by Chloe Wallace of   DibbsBarker  Note from BFCSA:  All Lenders with Low Docs using identical model: $150 billion of TOXIC LOANS - same as Schmidt.   APRA, Treasury, RBA, ABA, AOFM, ACCC and ASIC bleats "no systemic issues!"  Corruption at Work Focus: Violet Home Loans Pty Ltd v Schmidt & Anor [2013] VSCA 56 Services: Financial Services, Disputes & Litigation Industry Focus: Financial Services In Violet Home Loans Pty Ltd v Schmidt & Anor,1 the Victorian Court of Appeal found that where a mortgage introducer has provided fraudulent details on a loan application, a mortgage originator may be guilty of unconscionable conduct where it was aware of irregularities in a loan application but made no effort to investigate them. Facts In 2004 Manfred Schmidt, a pensioner, obtained a line of credit facility for $190,000 from Perpetual Trustees Australia Limited (Perpetual), and provided a mortgage over his home as security for the facility....
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Recent Comments - Show all comments
  • doyla66
    doyla66 says #
    Banks should not have approved my loans because unbeknownst to me at the time i was already in debt. But apparently projected equi
  • doyla66
    doyla66 says #
    Our loan also should never have been approved. Our monthly repayments were $7,000 - who can afford this on an income of $23,000.
  • doyla66
    doyla66 says #
    Couldn't agree more Lisa,our loan should never have been approved either,the blind freddies that took our case to court were only
  • doyla66
    doyla66 says #
    As I can now finally understand... we all need to FIGHT TO BE HEARD ON OUR MAIN ISSUE.. which is... OUR LOANS SHOULD NEVER HAVE BE
  • doyla66
    doyla66 says #
    I agree, Change. Before BFCSA I challenged the Bank as to why the loan was approved. Once I learned about the LAF I had a better i
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