News Ticker
June 12, 2024

BBL Madness

HSBC have been treating their vulnerable BBL customers abhorrently recently, I have had lots of them calling my helpline in a very distressed state. Above are just some of the many HSBC cases that the Ombudsman has ruled on. Proving just how vile that Lender can be.

A dastardly scheme is currently in operation behind the scenes, which is going to reveal who blagged a Bounce Back Loan, but sadly, that scheme has the very real potential to cause absolute carnage and label completely innocent business owners as BBL fraudsters. So be warned, and ensure you keep records, such as those highlighted in this article, for one of the worst cases I have seen so far, when someone was wrongly accused of BBL fraud, could have seen that customer being jailed if they hadn’t battled their case, won and got their BBL written-off. Just play the game and follow the rules and you will be fine.

We just need Noel Edmonds now, when it comes to doing a Deal or No Deal on your Bounce Back Loan. Fortunately, the banks have ensured that they are always in line for their Government Guarantee if you default on your BBL, and as the rules are weighed in their favour, and if the truth be known, in your favour too. Make sure you subscribe to the website, for access all areas; all funds help keep the website and helpline going >>

If you are in Bounce Back Loan arrears, or possibly in default, or you are heading that way, you are certainly not alone. Each Quarter I dissect the BBL facts and figures and for a detailed overview of how each lender is handling all aspects of arrears and defaults and how many they currently have going through the guarantee claim system, and how many guarantees payments have been paid out to each of them, along with some shocking examples of BBL fraud, simply select your BBL Lender from those listed above.

My 12 hours a day, 7 days a week BBL Helpline is funded by website subscribers and those who kindly make a donation. You have nothing to fear about being unable to afford to repay your Bounce Back Loan, the number of people who did no wrong and are being chased after the recoveries process has ended is ZERO. Just make sure you follow the rules and you will be fine moving forward. Give me a call if you do have any BBL related worries or concerns, it is me you will talk to. If you can afford to help contribute, it would be most appreciated, and will allow me to continue to be there for those in a dark place, and with a new Government on the way, I will need to keep my eyes on them, to ensure they do not try pulling any stunts when it comes to trying to harass those who cannot afford to repay their BBL and have defaulted. Donate here >

As part of a pilot scheme, Barclays have so far gone to the High Court to get wound up around 120 Companies whose Directors blagged/scammed them out of a Bounce Back Loan, which means they then force the hand of the Directors of those Companies and opens the door for the Court appointed Liquidator to pursue their personal assets for repayment. Above are the ones I have so far tracked and reported on that resulted in a Director Disqualification. They have been given the greenlight to pursue more Directors due to the success of that pilot. However, other Lenders appear not to be interested in that pilot, as the only people who financially benefit are the Insolvency Practitioners and the “BBL Bounty Hunters” who chase those Directors and get a hefty chunk of the money recovered, with the taxpayer and BBL Lenders getting nothing back!

There have been some right characters in the Conservative Government over the last few years. Take Lord Agnew, he was the Counter Fraud Minister in place at the time of the Bounce Back Loan Scheme, however he resigned and blamed everybody for the failings of that scheme, bar of course himself. Since leaving he has worked as a Bounce Back Loan Bounty Hunter and is once again a Director of his Norwich based payday loan type Company, that did of course get a BBL, it charges sky high interest rates and has been subject to many Ombudsman rulings against it. He even called out one Lender for shady BBL goings-on, the boss of that bank now works for the Government! What a time to be alive.

They are locking up Bounce Back Loan blaggers, and above you will see all cases in which one or more people were taken to court for BBL wrongdoing and ended up getting sentenced. Whilst you will find a range of different cases, a fair number of them relate to applying for and getting a LTD Company struck off after getting, then pocketing a Bounce Back Loan without telling Creditors. That is of course why all attempts to strike off a Company with a BBL owing now gets blocked, unless the bank tells the Government you are vulnerable and they are not pursuing the debt.

Thanks to so many Ltd Company Directors taking the Insolvency route themselves having blagged a Bounce Back Loan or misusing it, and therefore handing themselves on a plate to the powers that be, the current Secretary of State, Kemi Badenoch MP, is busy most days signing off their Director Disqualifications after being tipped off about their wrongdoing by Insolvency Practitioners who are legally obliged to report them after studying their Company Accounts and Bank Statements and reviewing their BBL applications etc. The very latest people to get slapped with a Disqualification are listed above. The rest of them are listed in this section of the website >

If you are one of the 10,000s of Directors of Ltd Companies that have had a strike off blocked by a Lender or the Dept of Business and Trade, as your Company has a BBL still owing, then you are not alone, as Companies owing some £40,509,531 in Bounce Back Loans have been blocked from being struck-off. You need to ensure you comply with your legal obligations as a Director, as your Company is still classed as active. Late submission fees are being handed out and even jail sentences to those who did not follow the rules. Have a chat with the team over at Marchford who can help and assist with such matters.

Do feel free to tune into any of the videos above, as you will see and hear for yourself the way  that Lenders and the Government set up the Bounce Back Loan scheme, along with the help and support available for those of you struggling to repay your BBL, or even the procedure to be followed, when you have had no other option but to default, and whether the Government, if a Labour one, after the next General Election, will have you on their radar.

You can pay as little as 4p in the £ if you offer your BBL Lender a one off final settlement figure, or as I call them a BBL Defaulter Discount. Once accepted  by the Lender and paid by yourself, the Lender will confirm payment has been received and will let you know, in writing that they are not going to pursue the rest of the BBL debt. As most Lenders will have already claimed on the BBL Guarantee, they will have had their money back from the Government so they are happy, and they will hand your payment over to the Government . That is then the end of the matter.

Quite comically, there are over 11,000 Bounce Back Loans that do not have a Government Guarantee attached. Those Guarantees were either yanked by the British Business Bank due to all manner of Lender related cock-ups, discovered when they were audited or when they tried to blag a Guarantee Claim when those loans defaulted, or the Lender realised they messed up when approving them and/or paying them out and rather than face the shame of having the Guarantees yanked, those Lenders opted to give up their Guarantees on such dodgy BBLs.

Wonderful news that Lex Greensill could soon be banned for up to 15 years for being an outrageous Government backed loan scammer, and he was a Lender! It is just shocking that his lacky, David Cameron, who gave him a desk in, and security pass for Number 10 and enabled his dodgy scam hasn’t been locked up.

It took some doing, but I managed to get the Tide Bounce Back Loan scam ended. My perseverance stopped them trying to rob up to £2.5million from BBL Borrowers who were in financial distress, proving BBL Lenders can be worse than anybody when it comes to BBL abuse!

Never, ever forget, it was the Government who told you to close/suspend your business, then filled your heads with stories of how going outside could lead to your death due to the “pandemic” then as you sat there with your business devastated, and in most cases, in a very, very vulnerable state, dangled a huge £50k loan before your eyes, with no credit checks and no affordability checks.

BBL Blaggers

Extra Support

Extra Support

Does Your Ltd Company Have an Unaffordable Bounce Back Loan and You Cannot Afford to Take the Insolvency Route? Can You Not Get Your Company Dissolved/Struck Off As It Is Blocked by the Department of Trade As There is a BBL Still Owing? – There is a Solution

Actions have consequences, and one of the consequences of the Government changing the law to allow them to block any attempt at getting a LTD Company Dissolved/Struck Off when it has a Bounce Back Loan still owing, is that there are now literally […]

In my role as Mr Bounce Back helping everyone navigate the endless madness that is the Bounce Back Loan Scheme over the last 3+ years, I have had the privilege of chatting to and meeting professionals from all business sectors, and many of them will be more than happy to chat to you and advise you on a range of topics which do cause great concern and worries for business owners. Such as those listed above.

Must Read

BBL Fraud

The “Covid-19 Loan Schemes Fraud Analytics Programme” Detects £99,476,014 By Using Government Data to Identify Fraud in the Bounce Back Loan Scheme and Companies with £40,509,531 in BBLs Have Been Blocked From Being Removed from the Companies Register

Here is a news update from the Public Sector Fraud Authority, who are giddy with excitement that their new counter fraud team saves taxpayers £311 million in first twelve months, beating target by more than £100 million. […]

BBL Defaulter Discounts

Covid Corruption Commissioner

Covid Corruption Commissioner

Rachel Reeves to Announce a New Covid Corruption Commissioner If Labour Win the Next Election to Go After All Manner of Abuse of the Public Purse During the Pandemic Such as Eat Out to Help Out Scheme Abusers, Council Business Grants Blaggers and Bounce Back Loan Scammers

If you got a Bounce Back Loan, a Council issued Business Grant during the pandemic or even money from the Eat Out to Help Out (EOTHO) Scheme, but committed any form of wrongdoing, such as […]

Covid Corruption Commissioner

Rachel Reeves Proposed Labour Government “Covid Corruption Commissioner” Needs to Investigate Rishi Sunak and His Wife As It Is Revealed She Has Links to YET ANOTHER Company That Bagged Money from a Government Backed Scheme – All But One of Those Companies Have of Course Already Gone Belly Up

Nothing surprises me anymore, and late last night I got wind of yet another Company with links to Rishi Sunak’s wife, Akshata Murty, that bagged money from the Future Fund. The Covid Corruption Commissioner, that […]

If you diddled a Local Council Business Grant during the pandemic or fiddled the figures on your Eat Out to Help Out claim form, or even pulled any stunts when applying for or when spending your Bounce Back Loan, you will be hoping Labour do not win the next General Election, for Rachel Reeves currently the Shadow Chancellor is hinting, if Labour do win, she will be taking on a new Covid Corruption Commissioner to track you down and get taxpayers money back.

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The Government Have Been in Touch with Me About the Ping-Pong and Limbo-Land Many People are Experiencing with the Department for Trade Block Strike Offs When a Company Has a Bounce Back Loan Owing – Read Their Response Here >

BBL Wrongdoing

BBL Wrongdoing

Company Liquidation With a Bounce Back Loan Owing – Examples of Directors Found to Have Abused the BBL Scheme and Punished for “Turnover Misstatement” As Predicated By The British Business Bank On Their Top 10 Fraud Risks Analysis and Those Facing No Further Action

The British Business Bank, having expressed their concern of the fraud risks associated with launching the Bounce Back Loan scheme in their Reservation Notice to Ministers days before the scheme went live, were of course […]

When the Insolvency Service sink their teeth into your leg, they rarely let go and will happily slap you with a long disqualification and compensation order if you take the Insolvency route when they are told you committed wrongdoing when applying for and/or when you spent that BBL. Take a look at around 1500 such cases here >

All Lenders have been told to ensure anybody who is vulnerable is treated very, very fairly when it comes to BBL arrears and defaults. Lets’ face it they should do, as the Government did tell you to close/suspend your business, not go outside or you could die and then dangled £50k loans in front of those business owners they had put the fear of God into, many who were understandably vulnerable at the time. Need a Chat? Give me a bell >