April 2022 – Page 3 – Mr Bounce Back – Bounce Back Loan News – Updates

Another Case of a Company Director Not Using a £50k Barclays Bounce Back Loan for the Benefit of His Business then Taking the Insolvency Route. This One Ended with a 6-Year Disqualification

April 19, 2022

It was a Barclays Bounce Back Loan that turned sour in this case, in which a Company Director ended up with a 6-year disqualification for the wrongdoing associated with that BBL that is outlined below. […]

A 4 Year and a 6 Year Disqualification for Not Using Two BBL’s for the Benefit of Those Businesses, and an 11 Year Disqualification for Massively Over-Egging “Estimated Turnover” Figure to Get a BBL

April 18, 2022

There does appear to be no consistency when it comes to the length of disqualifications handed out when a business owner takes the insolvency route with a Bounce Back Loan still owing, as today’s three cases will reveal. […]

Ombudsman Does Not Uphold Complaint in Which HSBC With No Reason Given Snatched Back £18k from a Customer’s Account Balance and Demanded Repayment of the Rest of a £50k Bounce Back Loan

April 17, 2022

Hiding behind their terms and conditions has enabled many a bank, including HSBC, to simply snatch the balance from any customers account to offset a Bounce Back Loan which they are also demanding full repayment of. The Ombudsman as you will see in today’s case, often determines when someone makes a complaint, that is the banks right and does not uphold such complaints. […]

Jenny Lomax a Financial Ombudsman Service Ombudsman is Still Mopping Up Complaints About Bounce Back Loan Applications and Here is Another Lloyds Bank BBL Complaint That She Has Decided Not To Uphold

April 16, 2022

You only have to look at the length of time the complaint took in today’s case which relates to a Lloyds Bank BBL application to reach Jenny Lomax who is an Ombudsman at the Financial Ombudsman Service, to realise how messed up that “service” is. Ultimately having been knocked back by a case handler it was passed to her for a final decision. […]

Over-Egging Turnover to Get a Barclays £50k BBL and Stating Those Funds Were Sent to India for Software Development When in Fact Some Were Used For Personal Benefit Lands Company Director with a 7 Year Disqualification

April 15, 2022

Here are the details of another Company Director that took the liquidation route which then exposed all manner of wrongdoing with a Bounce Back Loan which was meant to be used for the economic benefit of the business. Upshot was a 7-year disqualification. […]

A 3 Year 6 Month Long Bankruptcy Restrictions Order Handed Out to Sole Trader for Over-Egging His Turnover to Get a BBL and Spending it on Living Expenses and Buying a Van That He Later Scrapped

April 15, 2022

One of the more lenient slapping’s for wrongdoing associated with a Bounce Back Loan has just been handed out to the sole trader mentioned in the case below, which saw him being given a three and a half year BRO. […]

Company Director Given a 10 Year Disqualification for Massively Over-Egging His Turnover to Get a Lloyds Bank Bounce Back Loan and Not Using It for the Benefit of the Company

April 14, 2022

Declaring that his business had a turnover of way more than it actually was to bag a Lloyds Bank Bounce Back Loan and also not even using the BBL funds for the benefit of his business and leaving it owing at liquidation has seen the Company Director below smacked with a 10 year disqualification. […]

Not Using a BBL for the Economic Benefit of His Business and Over-Egging the Turnover to Get a Lloyds Bank BBL and Leaving It Owing at Liquidation Sees a Company Director Slapped with a 9 Year Disqualification

April 13, 2022

Here are the details of another Lloyds Bank Bounce Back Loan that went bad due to the reasons outlined below, including over-egging of turnover to secure that loan, a 9 Year disqualification has just been handed out to the Director of that business. […]

Capital on Tap Bounce Back Loan Goes Bad Resulting in Two Co-Directors Being Hit with 9 Year Disqualifications Due, Amongst Other Things, To Not Being Eligible in the First Place for That BBL

April 13, 2022

It is the turn of Capital on Tap to see one of their Bounce Back Loans turn sour, this case saw two Co-Directors being hit with a 9 year disqualification each. […]

Lloyds Bank Claim on the Government Guarantee for a Bounce Back Loan They Approved and Paid Out Which Saw a Company Director Hit with an 11 Year Disqualification for Using That BBL for Personal Benefit

April 12, 2022

Not only was the Bounce Back Loan in today’s case used for personal benefit and not for the benefit of the business, the Company Director got it when the business was no longer trading. […]

Month: April 2022