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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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Debt-plagued lender gets another reprieve       inShare by Calida Smylie | 08 Apr 2014   Troubled non-bank lender Firstfolio has received yet another extension on the maturity date of its $30.3 million Commonwealth Bank senior debt facility.CBA had given the company until 7 April to comply with its loan covenants but has extended the deadline to 7 July, according to an ASX announcement.The company said it was considering alternative proposals from a number of parties.“CBA’s extension of the maturity date of its senior debt facility will allow Firstfolio time to progress these alternative transaction opportunities,” company secretary Dustine Pang said.Firstfolio reported a heavy loss of $300,000 for the six months to December, compared with a net profit of $1.8 million in the previous corresponding period.Revenue was down 3% to $37.5 million and the value of the loan book fell by 2% to $18.5 billion.Firstfolio has had trouble paying its $30.3...
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  • doyla66
    doyla66 says #
    It's definitely time to get out of the credit industry, if possible. Much safer watching the cannibalisation of companies and the
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