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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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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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MORE MORTGAGE TOXIC AUSTRALIAN LOAN VICTIMS IN DESPAIR. I am one of 2.7 million time-bomb loan victims

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Another comment from our petition on   Why? because I'm on the brink of homelessness.

I also want to ask THE LEADER OF OUR COUNTRY and the entire Government why have they let this go on for so long and why they have made changes to the ACT to benefit the banks.

Why is there special help in bending the rules for financiers in the ASIC government web site for the sake of the shareholders.

Why is the Government giving investors nearly $10,000 a year to invest in homes for Low Income Earners to rent. Why aren’t they giving the Low Income earners the $10,000 a year subsidy to live the Australian dream of having a home?

Why are they backing the mega wealthy investors and financiers to get richer at the cost of families having a home of their own?

The Government has allowed the Low Doc loans to come into existence knowing the same as the financiers that they are unaffordable, that people will put every cent they have to have the Australian dream only to lose their shirt and their dream five years later.  It was planned that way.

Be warned Low Docs are a despicable product!!!

You are not allowed a loan at the normal interest rate, the calculator says you can't afford it. Your only option they give you is a Low Doc loan. They say the interest is higher because you are a greater risk, you also have to pay extra mortgage insurance (up front risk fee) because of this.

Of course there is a Risk but not to the lender, they know that eventually you will run out of funds, by then the interest on the loan is paid, they sell your home and have made their profit. You are just Loan Number. 000, a signed agreement with the so called law backed by the Government on their side.

If we were allowed a normal loan, with the monthly payments we were making we would have owned it in 14 years instead of 30 years. If we were allowed a normal loan I wouldn’t be on the brink of homelessness, I would be able to afford it.

Why is it that I am not allowed to stay in my own home but I am allowed to rent an investors investment for the same amount.

Does the Government have to wait for the same thing that happened with the drought affected farmers, to happen here??? The suicides because they couldn’t cope any more?  Is our Government keen on sending us all to the wall financially?  Cripple our economy?  Make confidence of a thing of the past?  

The past year has been like that for me, I can't cope.

My partner passed away last year, the monthly stress trying to make the loan payments attributed a great deal to his death.

I struggled for 2 weeks to stay alive till they worked out it was the chemo killing me, not the cancer, it took 3 year to get better but I survived and so far cancer free.

The past year I have been battling to save my home, my memories, all I have. Being told they are going to take your home is not much different to being told you have cancer but with cancer at least you have a chance with all the doctors striving to make you well. With saving our home it seems so much harder because the only ones that can save you are turning a blind eye. ASIC, FOS, COSL run by the Government for the people are not helping the people they are there for. Why do we vote, why do we have a Government for the people. Our country is run by the Banks, the wealthy, it is not run by a Government, it is run by GREED. As the saying goes, “ The Rich get Richer & The Poor Get Poorer”.

I went and saw “12 Years a Slave” recently, I felt I could relate to how it was. They could do a remake with the story about the Banks and call it “30 Years a Slave”.

Please help circulate petition, it is generating awareness of the banks fraud and greed and more Australians are coming forward.

petition link at top of page in featured box

Maggie M

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  • doyla66
    doyla66 Saturday, 15 March 2014

    THANKS Maggie M. yes so many questions... It's about time our Government started to use the laws that are already in place and jail these bank executives, all criminals scamming us with their faulty loan products.. How dare they!

    It's all the borrowers fault they say.. ... at least 2.7 million of us..... BUT we did not fudge our documents.. this was done after our signature was obtained and inhouse at the banks by their own Credit assessors... WE HAVE PROOF.. we have copies even though THE BANKS say they are missing. Our broker told us he was instructed to shred all our documents... and we still have a current loan!

    So I guess you may as well add another 50 million loan applications to the tally, all fudged by Bank Credit assessors over the years, including today, as loans are still being approved in a similar fashion........ Just look at all the crap advertising again by the banks trying to woo us, not to mention all the get rich spruikers et al.

    NAB drop's it's low doc product with some lame excuse about it not being popular or whatever... after reading stories here NAB certainly lives up to it's name. Stop Nabbing your victims. Your senior staffers will soon be brought to trial... momentum is building and you have nowhere to hide..... ALL banksters this means you! We citizens have had enough.

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