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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 Blog

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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I'm 70, 3 years retired. 15 years ago I owned my own home and was a typical target for banks as a ARIP (asset rich income poor). I wanted to retire comfortably and fell for the ploy, "Why not use your home to generate more income?" By 2008 I had 5 investment properties on interest-only loans with a combined value of approx. $2m. The monthly loan costs were prohibitive; I was living frugally to save as much from my salary as possible to help cover the shortfall, but needing to use an extra line-of-credit, so "thoughtfully" pushed my way by the bank. The debt was rising and all the time I was assuming house prices would keep me afloat. During 2008 I realised how serious my mistake was.  After selling two properties at a loss and two more involving capital gains tax, I still have my own home, thankfully, and one,...
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  • ire
    ire says #
    Time 4 Justice, I totally agree, the greed must be stopped.
  • Time 4 Justice
    Time 4 Justice says #
    It's such a common theme where the bank generated a false income figure on the LAF. I am truly stunned by just how many people lik
  • setup
    setup says #
    We make the effort to become self-sufficient by investing and becoming less of a burden on our Government in our later years, and
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1.  The Bank copy of the LAFs which were missing and never sent to Storm or the customers remained hidden despite a Senate Inquiry 2.   Banks Officers known as Business Development Managers BDM's frequented Storm offices - to teach Brokers how to use the CBA Service Calculator 3.  The Faxed copy of LAF from Bank (those who have secured their copy) differs from the originals. 4.  Only Brokers who kept their originals and ignored bank warnings to "shred the wet-ink LAF" have proof.  Proof the Broker was not the culprit 5.  Brokers are saying they were under instructions from Banks that ALL LAFs faxed to bank must have SERVICE CALCULATOR page and ICW (worksheet) attached to the LAF.   6.  Bank customers were told to sign  "we have read and understood everything" yet Banks only asked for three pages to be presented to all clients, knowing all other pages had to be then collated...
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  • doyla66
    doyla66 says #
    The more this unravels the more obvious it is that Operation Keep Lips Zipped has been on in earnest trying to cover A### and all
  • doyla66
    doyla66 says #
    There are plenty of questions to be asked isn't there. Why have regulators failed to take action, the reason is they are too close
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Ghosts of the Past will come back to haunt you Mr Narev - thousands of them........................BANK ON IT!  This email address is being protected from spambots. You need JavaScript enabled to view it. Another disturbing account from an elderly couple whom have signed our petition :- The Com Bank took our home, the committed Unconscionable Lending & are sweeping it under the mat...they stitched us up for $70.000 on top of the home loan, knowing we were on a pension & couldn't pay $2000 pm on a $330.000 loan..Mr Ian Narev..CEO of Com Bank you have no conscience. You ignore all my faxes & emails...I'm treated disgustingly when I ring the Customer Service...my calls get terminated rudely....you promised us in writing $8000 for 6mths rent in advance after u took our home of 15yrs...you took our payout, long service money & our super...all went into trying to save our home & you still took it, now because I pay my whole pension in rent, we...
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  • doyla66
    doyla66 says #
    It's sad knowing this. Well, i would say having a full knowledge of your rights would be a complete weapon.
  • doyla66
    doyla66 says #
    Hi Peter and Anne, I was wondering if you have signed our petition. Please don't forget to add the reason why you are signing and
  • doyla66
    doyla66 says #
    Mr Narev and your co conspirators.................how do any of you sleep at night. Do you have a modicum of conscience amongst y
  • doyla66
    doyla66 says #
    Please excuse my expression but Ian Narev is a pig of a man judging from the cruel treatment of his costomers. i have heard many
  • doyla66
    doyla66 says #
    Ian Narev could not give two hoots about anyone thrown out into the street. All he cares about is how much money he can make swind
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