Month: August 2022

BBL Complaints and Outcomes

Ombudsman Takes 20 Months to Decide Not to Uphold a Complaint Regarding a Declined Santander Bounce Back Loan Application as They Say The Lenders Could Demand to Ask for Proof of Turnover Even Though It Was Self-Declared

August 12, 2022

If you need proof of just how pathetically slow the Financial Ombudsman Service can be regarding Bounce Back Loan complaints, then take a look at this one, which ultimately they decided not to uphold by trotting out the usual excuses. […]

The Disqualification Files

It’s the First Time I Have Seen a CBILs Turning Sour Due to Director Wrongdoing, and the One Associated with this Loan Has Just Received a 7 Year Disqualification

August 12, 2022

With the banks taking a small percentage of the risks associated with CBILs loans, rather that the Government giving the lender a 100% guarantee as with Bounce Back Loans, it is HSBC who has just seen the loan in the following case turning sour and as such is left to eat up a chunk of that loss. […]

The Disqualification Files

Co-Directors Given 11 Year Disqualifications for Applying for and Getting a £50k Bounce Back Loan for a Business with No Turnover and Not Even Trading and Using it for Personal Benefit Leaving it Unpaid at Liquidation

August 11, 2022

This case involves a £50,000 Barclays Bounce Back Loan, and will show you the ease at which some people were able to blag one of those loans with no great effort, then do as they pleased with the funds, until such a time as they took the insolvency route, and their wrongdoing came to light. The upshot is that both Co-Directors have just been given matching 11 year disqualifications. […]

The Disqualification Files

No One Will Ever Know If the Business in this Case Was Eligible for a Bounce Back Loan and Whether the BBL Was Used to Benefit That Business as Director Doesn’t Deliver Any Accounting Records to Liquidator and Duly Gets Slapped with a 7 Year Disqualification

August 11, 2022

A mysterious prototype vehicle modification and where a Barclays Bank Bounce Back Loan went are two questions left unanswered in this case which saw a Company Director hit with a 7 year disqualification for the reasons laid out. […]

The Disqualification Files

Having Blagged a Barclays Bank Bounce Back Loan for a Business That Had No Turnover Having Never Traded and Not Using those Funds for the Benefit of the Business and Leaving the BBL Owing at Liquidation Sees a Director Hit with a 9 Year Disqualification

August 11, 2022

A whopping £50,000 by way of a Bounce Back Loan that has not been repaid at the liquidation of a business is what this case revolves around, the Company Director got a 7-year ban and no doubt Barclays Bank are eyeing up the guarantee claim, if they have not yet put it in. […]