May 2022 - Page 5 of 11 - Mr Bounce Back - Bounce Back Loan News - Updates

HSBC Customer Complains the Bounce Back Loan He Applied For Never Arrived The Bank States He Never Signed the Agreement He Says He Never Got It But HSBC Says He Read It – The Ombudsman Steps In and Tells HSBC To Pay Him £500 in Compensation

May 24, 2022

Another saga to present to you today, once again about HSBC and the way they handled a customer who applied for a Bounce Back Loan with them. […]

Santander Tells a Customer They Can Amend an Incorrect Turnover Figure on a BBL Application But Do Not Let Them – The Ombudsman Says The Rules State It Cannot Be Amended Once Agreement Signed But Does Give Customer an Extra £100 in Compensation

May 23, 2022

Having seen how Company Directors are being slapped with long disqualifications when it turns out they over-stated their turnover to get a BBL then take the insolvency route, this case shows how unfair the rules of that scheme were, by not allowing a customer to amend the turnover when a mistake has occurred. […]

Had Access to Your BBL Blocked, Then Unblocked? The Ombudsman Is Making Compensation Decisions Based On Such Cases

May 21, 2022

It looks like Jenny Lomax an Ombudsman at the Financial Ombudsman Service is finally getting to grips with the complexities of the Bounce Back Loan scheme, when customers complain to her about banks messing them about. As this case proves, she took into account, and boosted the compensation initially awarded due to a customers BBL being blocked for a month, and them losing one month’s worth of the interest free period. […]

Metro Bank Approved a Customers BBL, Pay It Out But Block All Access to Those Funds Then Almost Five Months Later Do Not Honour the Agreement – Customer Asks For £21k In Compensation the Ombudsman Says £500 Is Fair

May 21, 2022

Metro Bank did approve many a Bounce Back Loan when the scheme was live and then snatch many of them back or simply did not pay them out, and weeks later tell the customer their once approved BBL was in fact declined. This case is one of many such complaints that has ended up on the desk of one of the Ombudsmen at the Financial Ombudsman Service about Metro Bank. […]

Using the Proceeds of a £30k Starling Bank Bounce Back Loan to Make Payments to Benefit Himself to the Detriment of His Company’s Creditors Sees a Company Director Slapped with a 4 Year Disqualification

May 20, 2022

A Starling Bank Bounce Back Loan is what today’s case revolves around in which a Company Director gets hit with a quite lenient 4 year disqualification for the wrongdoing highlighted. […]