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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: POSITIVE OUTCOMES ? More than you think.........but none with COSL and ASIC!

Posted by on in Consumers Fight Back
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I read all these sad stories that are repeated again and again, similar to my own. This all points to a bleak outlook for the future of all our cases that may end in the loss of Time, Money and our Sanity.  No not bleak in our experience.   You need to join us.

What I am after is some positive outcomes from the governing agencies....Please post your outcomes and what you feel got it across the line.

  1. How long did it take?   18 months average
  2. What could have been the pitfall?  Missing FOS deadlines
  3. Who got it over the line?  Those who followed our guidance and used the templates
  4. What was the outcome of what was stolen?   That would take further work as the LIMITS to compensation for Bank Fraud is minimized to only $280,000 and average loss which Government are aware of is $600,000.  That's why we continuing lobbying and calling for Royal Commission.

Also in search of positive outcomes for all BFCSA members:

There are quite a number of people in their homes and are paying no payments.  The banks dare not move in!!!!  The Low Doc Scandal (and full doc toxicity)  means the Banks figures to Parliament re defaults are fudged.

We have arranged funding for a few cases and there are six cases that have been won in court (Supreme, Appeal, High Court) as precedent set.  We need a class action against the banks..............fully funded.  We have the gold plated evidence against them and we are working on this right now.

We all need to see a victory recorded and ongoing support for others 

 Ed:  You need licences for Lotteries, John.  That's like the old star-bouquet plan!  We welcome new ideas but that will never see the light of day on so many levels.  The victories are there - we keep telling our members that. There are confidentiality agreements in the mix.   Members are active, I can assure you. I am sure you have noticed that from the website.   But once they have been compensated they want to break free of this mess and who can blame them.  

However, the prize for the future generations is the Royal Commission into the Banking System, and that will happen.  No-one suggested it was easy. But it is doable!  This email address is being protected from spambots. You need JavaScript enabled to view it." style="line-height: 1.3em;">This email address is being protected from spambots. You need JavaScript enabled to view it.

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  • doyla66
    doyla66 Tuesday, 17 December 2013


    BRILLIANT John Terry
    I love the lottery
    I think the MEDIA is our LOTTERY
    as sad as we all are, and as stress full as this is................. we must continue the cause.
    Its not to late for those who have already lost a home, we can win this battle.
    I have a feeling the success stories HAVE to be kept quite.
    The BIG BOYS would'nt want that getting out......would they now?
    Denise wouldn't be doing this with out LOTS OF POSITIVES........the families that WIN are told to be QUIET!!!!!!!!!!

  • doyla66
    doyla66 Tuesday, 17 December 2013

    It is my understanding that if you have a win over a Lender then you must sign a non disclosure agreement. This stops the lenders being shown up for what they really are. The Banksters are the criminals and yet we are shooshed up to keep their reputation in contact. Not that that really matters because Nab have an extremely bad reputation and are still struggling to shed this image. Don't think it will happen to soon though with what goes on. Don't know why Nab don't just come clean and really show that Nab has integrity and morals. Nab would win hands down in the imagery stakes if they committed to be actually honest. Isn't that a joke now and honest Bankster. Ha Ha Nab would do well to drop the "We know your business" rubbish currently splashed on the TV. The only thing Nab know your business for " Is to use your home as Security if all goes pear shape" and then take you to the cleaners. Goodbye house. Sick and demented strategy.

  • doyla66
    doyla66 Tuesday, 17 December 2013


    there must be some winners out there though.
    but yes, they are told to SHUT UP.
    If i win, I will tell the WORLD.
    My journey has only just begun.
    full of FRAUD to the point where the broker emailed our builder a FAKE approval on Bankwest letterhead that he made up.
    did he think he was doing us a FAVOR...........? Life has been a nightmare ever since.
    We were locked in from that point as the slab was to be poured the next day. We were given NO CHOICE.
    NOT ONCE......NOT ONCE did this moron say " you cant afford to lend the money"
    the REAL approval arrived 6 weeks down the track. We were in deep high because of this mans actions.
    5 credit cards were maxed out because of what this man did.............MORON
    If it wasnt for family, this house would have been taken by now & the 2 investments LOST.
    BFCSA opened my eyes to what was really going on...............
    YES the broker did the wrong thing, but he was instructed by the big boys............ANZ, NAB & Bankwank.........ALL CRIM'S sitting behind fancy desks wearing shiny shoes.
    what really SHITS me is he is still getting all the commissions from my loans.

    I will fight for all three to be mine for my children..... I am days away from lodging, just waiting on some STANDARD letters to arrive...........then i guess the real fun will begin.

  • doyla66
    doyla66 Tuesday, 17 December 2013


    we must also remember in the toughest times...........WE ARE NOT ALONE
    we MUST share everything that is happening.

  • Denise
    Denise Tuesday, 17 December 2013

    You are welcome to have your say Mr Terry: Yes a number of positive outcomes from FOS and NONE AT ALL from COSL. You cannot assume there are no satisfactory outcomes as that is false. Some outcomes are 100% customer way and some are 75/25 customer way - after all its a fraud! However, the BIG ISSUE is the fact that so many LAFs we have examined are ALL FRAUDULENT. Therefore there needs to be a Royal Commission into this criminal activity by the Lenders acting as a Cartel. The other problem that has surfaced is the disgraceful and pitiful Bank Engineered LIMIT of only $280k maximum compensation (not in line with court findings!!) . Indeed, Lenders have been approving JUMBO LOANS to Pensioners of say $3-4 million! If there is no limit on banks handing out and approving IMPRUDENT LOANS, then there can be no limits on compensation. Our intention is to have all these unfairly adjudicated "verdicts," whereby the compensation was minimized, needed re-opened and why! Those whose claims are smaller receive better treatment by far. That is not an equitable situation. [email protected]

  • Denise
    Denise Tuesday, 17 December 2013

    Those with positives outcomes to date - during past ten years - have had to sign "confidentiality" agreements with bank executives....that is why they are silent. Think on this: if there were only a few "instances" of fraud, banks would have settled immediately...using the petty cash. Remember these are our "Too Big To Fail" Banks. Whilst waiting for Royal Commission we are busy behind the scenes settling cases with the banks. Its what we do! [email protected]

  • doyla66
    doyla66 Tuesday, 17 December 2013

    gfs are my inspiration to fight this HEAD ON!
    In one phone call you opened up my eyes & changed what my future holds.
    The more I read, the more I want to HELP everyone, including my family.
    BRING on the ROYAL COMMISSION!!!!!!!!!!!!!!!!!!!!!!

  • Denise
    Denise Tuesday, 17 December 2013

    Yes indeed GFS: Sitting back and wailing is not an option. Time for the Banks to worry!

  • doyla66
    doyla66 Tuesday, 17 December 2013

    Hi Guys,
    thanks for the feed back...My point is, the governing bodies will need to show a ratio of wins to losses and then explain the anomalies... if BFSCA has a better ratio with minimal funding surely this would be an example of the failure of these over funded tax payer organizations. with less you can do more, this would highlight the inept procedures and bias of the departments...
    I am no lawyer but i cant see why you could not say there has been a settlement but not divulged the contents of that settlement?this is all thats needed to keep score. to be honest i would think it would help us as much if the figures of settlement are low as it would highlight the incompetent and bias nature of ASIC.
    These bodies are promoted as impartial, if this was the case the terms of reference would not have caps on payouts or time frames etc and would not Have Bankers or there board. to be impartial would actively seek justice and truly return the consumer to the position they were before the loan and then penalize the relevant people.
    instead it appears the agenda is based on protecting the multi billion dollar earnings of the banks and focusing on all and any way to close a case and leave the hapless with very little options.

  • doyla66
    doyla66 Tuesday, 17 December 2013

    Banks and their associates work on a game of tactics and psychological warfare. Victory is achieved by adapting constant pressure.
    We are not going away....we are only going to get bigger and stronger as more and more victims come forward in joining us.

  • doyla66
    doyla66 Tuesday, 17 December 2013


    YES.... not easy
    We must do the hard yards for the next generation.
    STOP the fraud and STOP theese banksters from giving the average person "unaffordale loans"
    We must see a Royal Commission ASAP.
    Everyone needs to spread the word.
    I am no longer ashamed or embaressed by the situation my husband and I are in.
    I am ANGRY and ready to roll..... with the help and encoragement from members, Denise, BFCSA.....I can do this....

  • doyla66
    doyla66 Tuesday, 17 December 2013

    Bias - yes. More like double standards. Punitive behaviour by EDR staff inflicted on a "borrower" when EDR caused the problem. No punishment for Banks, no matter how dreadful their conduct is. And of course the tight deadlines on borrowers when Banks get all the time they need. Unless you get lucky and have a proper case manager.
    Abusive - yes. Staff at two different EDRs exhibited shocking abusive conduct/misconduct.
    Trickery, traps and other familiar Bank conduct - yes. Both EDRs showed this.
    Dangerous conduct - yes. Both EDRs
    ASICs behaviour was more neglect, disinterest and silence which can equate to a form of bullying and complicate the harm to the complainant. They also failed to do what they promised in writing repeatedly. Cases never got to EDR level - more like information disappeared into the security area and eventually answers were extracted with a lot of difficulty. Some cases with ASIC were never finished by them, apparently, or the files were lost and staff went silent when asked anything about those cases and refused to answer questions. Plenty more could be said about ASICs disordered complaints and call centre. They're a weird mob!
    Psychological warfare - a good description of Bank tactics and misconduct. Apparently they have no concept of what damage they could be inflicting on the other side. And some EDR staff permitted extremely abusive conduct and provocation to be relayed straight through without considering the impact on the other party. Issues around duty of care arose repeatedly. This is particularly true when dealing with clients who are vulnerable, eg in the case of mental illness. I would describe the conduct of both the EDRs and the Banks as irresponsible. This should not be tolerated in any humane society.
    As for the misleading information on the FOS home page - that would be funny if it were not so totally inaccurate. So who is going to report FOS to ASIC for deceptive advertising?
    It was very clear in all cases that COSL, FOS and ASIC were keen to get cases off their books asap and anyway possible. This could be due to the fees paid for each new case. A flawed system of costing often leads to denial of justice and incorrect EDR procedures taking place.
    The question of intentional harm vs EDR staff having a bad hair day (or even lying as occurred at COSL) - well that's up to those reassessing the cases or the judge in a court. Multiple administrative errors, omissions and dreadful blunders suggested that staff did not read the evidence submitted at all, or chose to ignore it, or were also just being provocative to make the borrowers crack.
    It is little wonder that some borrowers come away with the impression of bias - dealing with some EDR staff bears a striking similarity to that with Bank staff. Quite possibly they're all so enmeshed that they've caught the same disease.
    Huge need to have independent EDR for this system to survive. Much of the criticism I've picked up over time came from professional people experienced in EDR/ADR as well as borrowers. Considerable dissatisfaction exists across the board. A positive experience story is apparently rare.
    Thus a complainant could come through the EDR system and win their case, but feel so totally trashed and distressed by the experience that they take years to recover from the extended stress.
    Quite possibly these EDRs exist as part of the UN/EU tick the boxes for international compliance of some sort. I think they all need a good hose out and a bloody great wake up call around "consequences" - from experience.

  • doyla66
    doyla66 Tuesday, 17 December 2013

    EDRworse thaan the banks

    The EDR"S are worse than the banks, with the banks you expect the worst , one goes to an EDR expecting fairness , transparency and respect and its not there--and these people at FOS are on the public payroll , the culture stinks, the fields should be mown and the top echelon shown the door there are many cases where have acquiesced if not aided banks in breaking the banking code and allowing to continue enforcement when a dispute is still in FOS, its virtually inducement to break a contract( as the banking is deemed to be incorporated in the credit contract) which I thought was against the law

  • Denise
    Denise Tuesday, 17 December 2013

    Yes we may have time to produce some statistics. One statistic bears mentioning: From 1200 people only 89 so far have reported HOMES LOST according to our surveys. Those that use our user pays services get good results. Some have lost homes due to EDR's throwing out cases on technicality, and some because they missed deadlines set by callous EDR's...banks get 28 days to respond, the victims get 14 days and must ask for extensions. There are varying degrees of success as compensation is not in cash (only loan reduction) and ASIC set the limits at $280,000, when average loan and loss is $600,000 to pensioners. Those who purchased a home to live in are worse off becuase of ASIC. These loans were only for business people, yet most did not have a business....hence the bank engineered ABN for a day scams. If you bought a home with zero deposit and zero security you lose the home, even if there is fraud.................You can be put back in a position as if you have never met the bank. There is no real money compensation for damages......unless court, and people have no money for lawyers. We do however have success in making sure the banks do not saddle these people with an ongoing debt or bankruptcy because of the existence of fraud. Yet the successes we have had for those who owned their own home to start with (or substantial equity) far outweigh any of the Government drip-fed agencies. I will work on this point you raised as its a good one. Media are in no doubt that BFCSA is the only organisation wielding a cricket bat and scoring runs on the board. Members will tell you that. So yes I guess its time to tell all as to what we have achieved to date. [email protected]

  • doyla66
    doyla66 Wednesday, 18 December 2013

    Am in 2 minds about FOS. I don't believe they understand half of what is actually going on and are far to complacent and lax with the Lenders. Staff don't seem to push lenders for answers and allow LOST as an appropriate answer without going any further than that.
    Acceptance of this kind of answer is ridiculous these days with all the electronic wizardry around. The Lenders I'm sure would proudly demonstrate their attributes at finding files and docs if it was to their advantage but if it is the customers way I believe it is forget it. LOST is not an answer just an excuse for not wanting to produce. LOST does not resolve any matters. LOST only indicates some deceptive practices and suspicion. LOST is a croc.

  • doyla66
    doyla66 Wednesday, 18 December 2013

    Agree, Nanna. LOST is a lame load of manure. From the same staff who probably can't find their socks unless their mother or their wife helps them either. Given a night in their office I know we'd be able to find our missing files.
    They just fob us off. No case should ever go to determination until every piece of evidence requested and every question asked by complainants are actually on that file. Anyone with a case on foot should insist on this. We don't get it if we don't ask for it from these people.

  • doyla66
    doyla66 Wednesday, 18 December 2013


    well said Nanna, your right.....LOST is a CROC
    Continue the fight.
    BRING ON A ROYAL COMMISSION & Tell every one you know whats going on behind the closed dooors of the BIG 4 plus MORE.

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