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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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Subscribe to this list via RSS Blog posts tagged in COSL Useless
Treasurer Joe Hockey is not the only one with a close family member ripped off by Banks.  There are others.  We are planning a big contingent of people to Canberra in November.  Every victim will want to be front row to hear Australian Securities and Investment Commission's lame duck excuses for seeing all and doing nothing.    BFCSA voices will inspire the timid and embarrassed to also come forward.  Anyone wish to arrange a bus from Sydney?  Talk to me.  Dates have not been set as yet.  We will keep you posted.   Meanwhile FOS (Financial Ombudsman's Service) is closing files where loans were arranged in 2006 or earlier.  Statute of Limitations can only apply from when people "were aware of the affability issue."    FOS would not be able to get away with such nonsense in a court of law, but then this is a game to assist Banks.....................   Statute of Limitations for...
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  • Denise
    Denise says #
    Hi Anton. It was his Mother in Law. If the bubble bursts yes Shareholders have been given fudged figures as to the true exposure
  • doyla66
    doyla66 says #
    I would like to say firstly great information for anyone new reading these blogs well written by everybody involved. I have a few
  • doyla66
    doyla66 says #
    Victims face loosing everything all because Fos can't or won't look at cases after or before a certain date or because they exceed
  • doyla66
    doyla66 says #
    FOS are stooges, even if you send them evidence, the banks just have to tell FOS it was a mistake or misunderstood as they did in
  • doyla66
    doyla66 says #
    Well said, Denise and Nanna. That's what's going on. We can see it all as we peel away the layers of the complex fraud. ASIC tal
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There is more than one way to encourage people about to take out a mortgage which is the best lender to chose?  The one with the so called "best interest rates" usually has hidden charges that would need a crane to lift - that means more bonuses for the bankers and definitely more DEBT FOR YOU. It gets quite ugly if the loan you are offered is a LOW DOC.  Demand a FULL DOC but note that 18% of Full Docs are TOXIC.  If the lender says NO you need a bigger deposit....steer clear of the debt trap and save for more deposit first....best advice we give that banks will not tell you why that is GOOD ADVICE. LOOK FIRST and see if LENDER is a Member of COSL or FOS.  If they say COSL - run a mile - DO NOT BORROW - DO NOT SIGN ANYTHING - RUN FOR YOUR...
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  • doyla66
    doyla66 says #
    You surely were mislead. We were too. Our original Nab mortgage document was in 1971. The bank manager was a drunk. But we were y
  • doyla66
    doyla66 says #
    I cant get through my head how the trail of bad documents does not make this case a doddle. ASIC must come clean, they cannot hide
  • doyla66
    doyla66 says #
    Gawd, Greg. Your COSL FOS experience was even worse than mine! A real mind bend. Please tell the Senate about it. You're not alon
  • doyla66
    doyla66 says #
    COSL, a suppository of wisdom: (1) My initial Pioneer(Trustee) 'hardship' case began 2011 @FOS & closed thru INGDIRECT (parent f
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