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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: Sterling rep told us "couple of women had complained to ASIC in 2017" Frydenberg # 28

Posted by on in ROYAL COMMISSION INTO ASIC NEGLIGENCE
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OUR STORY

Dear Mr Frydenberg

We first became aware of the Sterling Group mid July 2017.

A friend bought into one and we were quite impressed with the presentation

That was shown to us. We put our house on the market and paid a small holding fee on a unit.

Someone came and paid cash,  so we were advised by the rep to drop the price on our house.

We were shown a property which we liked.

The rep told us that they would not be doing these units any more because of a couple of women were causing problems and they had gone to ASIC.  

We were offered an Ezy Move contract to move out of our House , leave it empty. We still had a mortgage. 

We were then paying rent as well.............

Our house took longer to sell than we thought. More stress.

We needed to move as my husband does not keep good health. We sold our house in December 2018.

We signed up for the unit in January 2019.

Ryan Jones sent us papers to sign. The rent was more than we had agreed.

He was very abusive yelling at me on the phone.

I contacted the Rep and told him that I was concerned.  He told me that he didn't work there anymore, 

but his wife said that Ryan Jones was yelling in the office at clients. All this added more Stress on us.

We are not entitled to rent assistance as centrelink  deems us as home owners.  We do not own the house, we rent it

We have had the landlord contacting us and asking for Rent.

They say that they the LANDLORDS have not been paid any rent since February when it was taken off us!

If we can't come to an agreement they will have to evict us.  But if Landlords start eviction notices we know that will take six months or more.

We need this sorted NOW

Regards 

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