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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: Major Banks and hidden subsidiaries rake in annual $6 Billion in credit card fees. Time to stop the carnage of financial death by enforced DEBT

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I am constantly asked re credit cards what do we do now:

I suggest you all lodge Credit Card complaints with FOS especially the offer to raise the debt was given to you.  Look at FOS website re Credit Cards and it clearly shows where grounds for complaints are more than possible.  Australians being charged a staggering $6.2 billion in credit card interest annually.  Tom Godfrey of Choice is saying the market is dominated by THE BIG FOUR BANKS and that's not good for Consumers.  Nothing in banking is good for Consumers right now as these Banksters are so dishonest, deceitful as we have proven time and again.  Also start going to media as it is a BIG story of how Banks insisted on a Mortgage Borrower taking out THEIR credit card when they already had one.

What a Bunch of Bankers..................I am writing a book...............

They said "you do not have to use it" but it was always intended for borrowers to be trapped into unaffordable loans, panicking, and then paying the house payments off with Credit Cards and WHAMMO 22% interest for Bankers.  All intentional of course.

UNAFFORDABLE DEBT - its called ENTRAPMENT  Look at Australian Competition and Consumer Commission website for ACCC  False and Misleading, Passing Off, Entrapment....massive powers to prosecute bankers.....................any number of breaches. 

Has ASIC reported these breaches to the ACCC?  If not why not.  Write to Commissioner and ask whether ASIC has pointed these out.  If not, why not?  Then write to Greggie....ASIC

Then  write to Head of FSU:  Have bank staff members been complaining about gouging and harassing customers and big push for "do you want fries with that?"   Bankers have been insisting "if you take out a mortgage with us, you must have our credit card..... Did that happen to you?  

OK YOUR TURN to speak out and fight back...............................

The EVIL KINGDOM of Bankers on the loose, must end.  Where are these wretched regulators run by Medcraft's Misfits.  

Did ASIC ever complain to Treasury and the Treasurer that ordinary citizens are being targeted maliciously by THE BIG FOUR, and the fallout will be (not maybe) catastrophic.

Few defaults say the Banks?  That's because they were pumping up the loans with BUFFER MONIES and Credit Cards.  We have the proof.  So does ASIC.

Fewer Repossessions?  That's because the banks are taking over the properties by deeds as a settlement plan and then sitting on them.  Notice the number of unoccupied homes lately?  Just like America.......................hmmmmm.  The Homeless may now gain a derelict home and have an even chance at life - digs that are ripe for squatting.......Just like America.  We know........................we have the proof.

THE BIG FOUR are utterly dishonest and breaching laws left right and centre.  Of course they are hiding the bodies.  How does that help the Economy?  Well you read it hear first.  Just remember what goes around....................

Our Members do not lie.  Banks lie and are very very good at it and, so does their best buddy forever: ASIC.   This email address is being protected from spambots. You need JavaScript enabled to view it.

 PS Banks need not run the economy.  Consumers RUN the economy.  Think about this:



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  • doyla66
    doyla66 Saturday, 18 January 2014

    yes RAMS wanted to give us one and Broker said we didn't have to use it.. we didn't accept because we already had 2 credit cards at the time.... BUT later on, about a year later when the RAMS buffer money ran out, we used our other 2 credit cards to pay the mortgage at times.. so we are trapped paying monthly minimum payments as that is all that we can do until our job prospects improve.

    I spoke to ANZ this morning, as we have been customers for many years, about reducing our interest. The Customer service guy said that we were already on the lowest rate 13.49% on purchases and 21.74% on cash. I said, but I have not used this card for years, just paying minimum. Why is there interest on the cash advances? He said that the cash component of the interest is on our past borrowings... He recommended I roll over to another credit card on 0%.
    He said when a customer comes to them to rollover their credit card debt from another bank that it is of no concern (news to me??), even if you are unemployed you can roll it over.
    He said ANZ do not need to know.?? He could not speak for other banks. I said you are all the same. He said not necessarily..

    Here we are 2014 and the Regulators will have you believe that banking is better now..

  • doyla66
    doyla66 Saturday, 18 January 2014

    Greg "Securitisation" Medcraft has a lot to answer for - send him to the "darkside" credit reality zone for years!

    It's possible that every credit account in Australia has been securitised including phone, gas and electricity accounts. They all seem to go into the same sort of sales spiel just like the Bank phone customer service people who are trying to sell credit cards etc at the same time. Where consumers can they're changing their ways: pre-paid mobiles, paying in cash, debit cards. Some businesses penalise people for paying in cash - 2 days wait for resumption of internet/phone service unless they complain the right way e.g. "essential service" "urgent business contact" etc. Some businesses, e.g. car hire, insist on a credit card for security and using cash or a debit card incurs a large deposit up front, even for regular known local customers - "that's the rules". Then there's the ATO and ASIC fees - did they manage to put our common wealth at risk as well?
    Almost all our credit and business accounts have been resolved, dissolved, paid out and ditched legitimately. It was very hard but essential. There have been serious financial losses as well in the process and extended hardship.
    Not that the Banksters give a damn - that's the idea, isn't it? Stretch the credit client/borrower then intimidate, psychologically abuse, threaten, fleece them while bullying them and disrupting their life in any way possible. This is Mafia/Bafia behaviour. All over "debts" that are tiny and not worth the effort to any sensible business! - and most are outside the Law. This is crazy - wake up Australian Government! - extortion has replaced normal business. These corporations can be sadistic, neanderthal, completely obsessed with money and winning at all costs. Who would want to work for them? - or a Bank :(
    It's a good feeling and life is much more manageable without the burden of credit. We're so looking forward to losing the threat of the Banksters noose as well. Debt is psychologically disabling and diabolical, like getting caught in quicksand. It robs us of our power, our freedom, our choices... everything they say in the advertising, reverse it for the truth. Paying off credit can be like trying to fill a rusty bucket - endless frustration, no use, throw it on the scrap heap.
    What I'd like to see change is the "compulsory financial institution account". Back to the good old days of optional direct deposit or real pay packets. So much easier to budget, be frugal and live within our means week to week.
    We're probably seeking compensation - and we're also seeking sincere apologies from those who have frightened and harmed us, wrecking our lives, years of sickness, worry and sadness. Somehow I think money may be easier to get from a Bankster than a "sorry". They lack empathy - they're too big to care. They're all so scared of admitting of liability. Their advertising is garbage, their reputation like the sinking Titanic. They've lost our extended families as customers for good and the word is spreading about what all these corporations and Banks did and still do.
    I have a dream that one day all the people who know the truth and "walk" away will join up and the entire financial services industry and securitisation system will fall in a giant hole, created by our collective effort to white ant the criminals. Unless our government is willing to take a stand for the right and lawful way be overwhelmed by angry consumers and they'll pay for it too. I think they're starting to get the message: either they show leadership on this massive issue or we'll do it for them. :)

  • doyla66
    doyla66 Saturday, 18 January 2014

    six degrees of separation again and with everything!

    Re interest on cash advances - I believe that is conveniently charged right up until the entire card balance is paid out if one succumbs to that temptation! As for evil securitisation, I believe anything that produces revenue can be (and is) now securitized along with future revenue projections (why bills and everything just keep on rising) and in the industry it’s known as pump and dump! Result - more debt for blinded Governments – more debt for us who they refuse to listen to – more unemployment and loss of Government revenue – more burden for the Government on Health and Social Security AND more filthy lucre for banksters and mates. Even projected parking fines and parking meter rises are in the mix along with what we all now re illgal mortgages and credit card debt, insurance, power, gas and phone bills and I hate to think what else might be or what more surprises might be forthcoming by they who have been blinded! One does not have to be blind Freddie to see right through it all and know that once something is privatised it is securitised and existing problems merely compound making me now wonder if the Government itself might be a mole organisation for it's sure all about yes sir and obeying authority as far as they go and I mean all of them for they flatly refuse to listen to the people who pay them who they are supposed to represent who are a lot wiser than they are. Our PM and Treasurer need to do some very fast swatting up on one Stanley Milgrim re who and what influenced his thought trail before the big snake pit is reached at the bottom of the garden path they are being blindly led down for hell hath no fury!

  • doyla66
    doyla66 Saturday, 18 January 2014


    Same same same
    One mortgage
    Another mortgage and a third mortgage
    5 credit cards maxed out trying to save the sinking ship not knowing what had really happened and why we were in this situation.
    A complaint was lodged on Friday for one of the cards cause the banksters wouldn't come to the party and stop charging the interest....
    I just might do the same for the other cards Monday.....
    The broker may have done a very bad thing by us but it's the banksters who signed off on all mortgages and cards......
    That we could never afford.
    It's called in my world.... No DUTY of CARE and FRAUD....

  • doyla66
    doyla66 Saturday, 18 January 2014

    Oh Lisa ....
    I agree.........
    The anguish of our situation is enough for someone to end it all.
    The pain, the anxiety, the depression, the stress, the sleepless nights, the addiction to comfort food... The list is long.....
    And my journey has only just begun.....
    I pray every day that the outcome will be ok and we will be relieved of all the above and live a happy life and watch my young children blossom.
    Thank god for this group, BFCSA and DB and her team.

  • doyla66
    doyla66 Saturday, 18 January 2014

    As I have said before a condition of my re-finance was I take out a platinum card with ANZ yet having been an existing customer for so long I already had one and thank goodness I did. Was later told by my bank manager it is not possible for one to flick over the balance on one card to get a new one with the same bank BUT not true it seems if one applies to a bank owned by the same bank – i.e. flicking over the balance from a Westpac credit card to one with St. George making me now wonder what kind of legal implication that might conjure up if one asked the question of FOS?

  • Denise
    Denise Sunday, 19 January 2014

    We as a group have power and strength in numbers. Its called collectivism, and it can move mountains and start class actions, change legislation, lead to Inquiries and Royal Commissions and sway elections. Its called Civilian Power. Hang in there GFS

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