News Ticker
July 24, 2024

Subscriber Specials

The website now has over 3,700 pages of Bounce Back Loan related news and information articles, which grows higher in number each day. With that in mind, please do spend as much time as you need having a good look around. But to make your life easier and to view the “juicier” articles, in order, starting with the latest ones, please check out the Special Reports section of the website >>

Sound Advice

Subscriber Special – Paul the Ombudsman Urges Company Directors to Engage Fully with their BBL Lender, and Don’t Send them to Coventry When They are Taking the Strike Off Route With a BBL Owing, To Help the Lender Make the Decision Not to Pursue the BBL Debt and Allow a Strike Off Block to be Lifted

Please read and digest the following if you want to take the strike off route legitimately and your only Company debt is a Bounce Back Loan and you are vulnerable, as an Ombudsman gives some sound advice on how you need to ensure, by you fully engaging with the Lender so they can class you as vulnerable, decide not to pursue the BBL and then the strike off block can be lifted. […]

Daily Updates

Alternatively, for the more general daily updates which includes recent Ombudsman BBL complaints and outcomes, in-depth details of everyone banned as Company Directors or given Bankruptcy Restriction Orders as Sole Traders and those jailed for BBL wrongdoing visit the Today’s News section of the website. >

Barclays were, until just a few weeks ago, the only BBL Lender enforcing BBL Debts. But now, both Starling Bank and Lloyds Bank have started to do so. However, they are only doing so if  defaulters fit the very strict criteria for enforcement. The articles above will enlighten you on what that criteria is, and whether you should be worried about any of those Lenders heading to the High Court with a Winding Up Petition against your Company, and if they do, they will often sell the debt to “BBL Bounty Hunters”, those being Litigation Funders who will then pursue you personally for the debt, in exchange for a hefty percentage of the money they recover from you by selling off all your personal assets.

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. My Year 5 Fundraiser is now LIVE. Donate here >

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.

There is a very defaulter friendly system in place when it comes to Bounce Back Loans, and most Lenders will push you to default if you tell them you are skint and cannot repay your BBL. Some will even speed up the default process if its affecting your mental wellbeing. Once you do default the magic happens for you and the Lender, they get their money back from the Government Guarantee and you can then repay any affordable amount each month, which could be just £1 per month, or you could be offered a BBL defaulter discount worth as much as 98p in the £1, or just ride out the 12 month recovery process, as that is when most Lenders give up the recovery process.

Has your LTD Company Strike-Off been blocked, due to an unpaid Bounce Back Loan? Don’t get hit with late submission fees, don’t ignore your responsibilities as a Company Director, and don’t risk getting hauled before a court and getting jailed for falling foul of Section 1006 of the Companies Act 2006. Have a word with Marchford who can help you navigate taking the Strike-Off/Dissolution route with a Company with an unpaid BBL, and can help you unwind any mess your have got your LTD Company in.

Whilst I can help you with most aspects of your Bounce Back Loan “journey”, and actively encourage you to call me on my helpline if you need a chat, sometimes you may need some extra help, such as from a team of legal experts. If you are being hounded about a BBL by the Insolvency Service for example, after taking the insolvency route with your Company or are being messed about by your Lender, or even have the National Investigation Service demanding a meeting in a local police station for alleged BBL wrongdoing, then give Complex Law a call, they know their stuff and will get your sorted, tell them Mike sent you.