GLOBAL SUB-PRIME CRISIS

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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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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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This is what I wrote to FSI in an email Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4   To whom it may concern. I was given Australian loans by Australian Bank  of more than $1.5m on the strength of a single letter from a man in Jersey. (the tax haven!) I have had no Australian income for more than twenty years and had no tax records nor was I on the electoral roll for more than 20 years. If only more people were aware of what this bank calls good lending practices, then I’m sure people would not buy shares or have anything to do with a bank who lends money to people who can’t afford it. It seems to all be about greed. This bank did not include any of my monthly outgoings as expenses? If I didn’t declare such things when applying for a loan, the bank...
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  • setup
    setup says #
    I have sent mine in and hope you all have done the same. This is so important for all of us and for our road to victory. Remember
  • Aries
    Aries says #
    Come on everyone get you emails in. My example is on page 2 on 13/8/14 under the blog BFCSA INTERVIEW WITH ALAN JONES. If your no
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How come I have to pay an extra ammount between 5% and 12% of the transaction ammount everytime I withdraw money from my savings account when I am overseas?  I have no choice do I? How come I have to pay an extra $5.77 when using an Overseas Terminal to draw money from my credit account? I have no choice do I? How come I have to pay an extra $5.77 as an International Transaction Fee when using my credit card to pay anything, ANYWHERE OVERSEAS? I have no choice do I? If I use the credit card at an ATM overseas, I have to pay an International Transaction Fee and an Overseas Terminal Fee! I can understand in Australia where I have a choice of using my banks ATM or someone elses. If I use someone else I will probably have to pay a fee. But when overseas WE HAVE...
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  • setup
    setup says #
    Since the introduction of privatisation, the banks are answerable to nobody. Even though the Government has the power to rule the
  • Aries
    Aries says #
    You're dealing with crooks, they do anything they like, because ASIC is their mate.
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  I was 54, looking through the real estate for sale on the internet when I came across the most beautiful home, right on my favourite stretch of river. Of course it was expensive but I had a good income and thought I would at least give it a go. My way of thinking was that "If the bank doesn't think I can afford it then they won't give me the money." WHAT WAS I THINKING??!! I made an application through a broker who was upbeat about loans and approval was easy.  I left the broker's office thinking it was all an interesting exercise but I would never gain approval.  How wrong was I! They had to break the loan into four smaller loans, mortgaging the home and two rural properties I owned and I had to borrow another $130,000 privately (through someone the broker recommended) to use as a deposit...
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  • NABbed Nanna
    NABbed Nanna says #
    Another story of deceit and trickery. You sort of cannot believe that these so called trusted banks would treat you like this. We
  • Aries
    Aries says #
    Same old story from everyone, loan documents tampered with deliberately. Everyone write to the Finance Minister Mathias Cormann a
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