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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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ASIC - WHY AREN'T YOU LOOKING AT THESE LENDERS AND THEIR ADMINISTRATIVE DECEPTION!!

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Obligations under the MFAA Code of Practice

What lenders must do

Consider in good faith whether it is reasonably appropriate to vary the payment terms of a credit facility where a lender becomes aware of, or is advised by the borrower, that the borrower is or may be in financial difficulty.

If it is appropriate, suggest that the borrower ask for a variation to the repayment terms.

Consider in good faith and within reasonable time the borrower’s request to vary the payment terms.

In assessing the request, act reasonably and not require the borrower to apply for early release of superannuation or borrow from family, friends or other third parties.

If the lender decides not to vary the payment terms, promptly inform the borrower in writing of the reasons for the decision and the borrower’s right to complain to an ASIC-approved external dispute resolution scheme (EDR scheme).

 
WHY THEN DOES ASIC WRITE THESE REPORTS YET ALLOWS 'LENDERS' TO RUN THEIR OWN RACE TO FORECLOSURE - AFTER MILKING THE CONSUMER DRY FIRST?
 
ASIC, THE LENDERS KNOW THAT THEIR PRODUCTS ARE FAULTY AND RIDDLED WITH FRAUD!  They are the engineers of the whole scam.
 
YOU NEED TO DO ALOT MORE THAN WRITE IDEALISTIC LIAR REPORTS!!
 
FRAUD/MALADMINISTRATION CREATES HARDSHIP -
 
My loan of 7 years has been in the hardship area of RHG for more then 1/2 of the loan's life-?????
 
ASIC - PLEASE EXPLAIN THIS???page10image12808   
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Guest Thursday, 24 September 2020