Most people, and especially business owners, have stress levels right now that are through the roof. You don’t need me to tell you with gas and electricity prices on a never-ending upward curve, and with […]
It won’t be long now until the big banks start putting in the guarantee claims for their Bounce Back Loans that have turned sour, and when that day arrives many eyebrows will be raised. They have not yet done so, probably to save them having to take […]
One of the small number of rules associated with the Bounce Back Loan scheme was that a business must have been trading on the 1st of March 2020. Taking the insolvency route after getting a BBL and submitting dormant accounts for that period is of course a big red flag for […]
Below is an overview of what you can expect if you let any of the Bounce Back Loan lenders (or their designated debt collectors) know that you cannot repay your BBL. This information is based on the feedback of hundreds of BBL recipients who have contacted those lenders. […]
Just a quick update, been receiving a lot of calls and emails regarding the State Aid / Business Interruption Payment letters/statements some of you may have received or will shortly receive. I have popped a copy of one such letter below so you can get your head around what it is about. […]
Not one of the longest disqualifications handed out recently, but the Company Director named in today’s two BBL related cases is starting a seven-year disqualification for over-estimating the estimated turnover to get two BBLs and leaving both of those loans owing at liquidation. […]
The business owner in today’s case was discovered to have over-egged his turnover to secure a much larger valued Bounce Back Loan than eligible for and having taken the Insolvency route leaving that BBL unpaid it was decided that an 11 year disqualification would be a suitable “punishment”. […]
Another outrageous case today, involving a £20k Bounce Back Loan, that as you will see went to a Company Director whose Company had no turnover and wasn’t even trading, and his punishment was a 9-year disqualification. […]
Here is another case which has resulted in the Company Director named being given a 9-year disqualification for failing to provide any evidence that the over-estimating of her Company’s estimated turnover was appropriate. […]
It was a seven-year disqualification the Company Director named in this case has been given, as no one knows whether their Company was eligible for the Lloyds Bank £50k Bounce Back Loan it got and have not got a clue what it was spent on. […]
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