Month: November 2021

BBL Complaints and Outcomes

Financial Ombudsman Agrees Bounce Bank Loans Were Not Subject to Credit Scoring but HSBC Feeder Accounts Were – Therefore Catch 22 Means They Refuse To Uphold Complaint From SME Who Could Not Access That Scheme Having Been Declined a Feeder Account

November 11, 2021

With so few Bounce Back Loan lenders allowing new customers to open a bank account, many people did miss out on any chance of getting one of those loans. The Financial Ombudsman Service receives a lot of complaints from those declined a bank account from the few banks that did let new customers apply for an account and therefore those who did not have access to the BBL scheme, even those who state they have no CIFAS Markers and have […]

BBL Complaints and Outcomes

Co-Operative Bank Close SMEs Account Due to Risk Appetite Then Snatches Back a £50k Bounce Back Loan Telling Customer to Apply Somewhere Else and Bungs Them £100 Compensation – Financial Ombudsman Thinks That Is Fair and Dandy

November 10, 2021

I am publishing any and all outcomes to complaints sent to the Financial Ombudsman Service (FOS) I come across related to Bounce Back Loans so that you can connect the dots and see how the FOS are handling such complaints, as they may come in handy if you are thinking of taking that route yourself or even thinking of legally challenging your BBL. This complaint is a common one as it relates to a BBL snatch back […]

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Marion Fellows MP Gives a Passionate Plea for Bounce Back Loans to Be Turned Into Grants Only To Be Told By Minister for Small Business Paul Scully Many SMEs Have Squirreled Away Their BBLs So That Is Not Going To Happen

November 10, 2021

How out of touch with people can you be, well listening to the Westminster Hall debate “Access to finance for small and medium sized enterprises” yesterday it became very apparent Paul Scully Parliamentary Under Secretary of State (Minister for Small Business, Consumers and Labour Markets) and the Government will not entertain the idea of tuning BBLs into Grants. […]

BBL Complaints and Outcomes

Financial Ombudsman Tells Bank of Ireland To Pay SME Just £250 For CIFAS Marker They Registered Against Him Which Resulted in a Bounce Back Loan Application Being Declined – SME Claims He Lost £15k as a Direct Result of that Marker

November 9, 2021

During the time the Bounce Back Loan Scheme was live, I chatted to a number of people who had been declined a BBL due to a bank, at some point in the past, and often unknown to them, registering a fraud marker against their name with CIFAS. Whilst getting erroneous and unfair […]