Time to Act
Make Sure You Get Your Mojo Back in September, Even If That Means Telling Your Bounce Back Loan Lender You Cannot Repay the Wretched Thing
Most people, and especially business owners, have stress levels right […]
Month: August 2022
The Disqualification Files
Using Most of His Company’s Bounce Back Loan for Personal Benefit Lands a Company Director with a 6 Year Disqualification
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 […]
The Disqualification Files
Company Director Submitted Dormant Accounts After Getting a £50k Lloyds Bank Bounce Back Loan and Gets a 9 Year Disqualification for Leaving It Unpaid at Liquidation
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 […]
Subscriber Special 2
Update on How Each Bounce Back Loan Lender Is Handling Those Who Cannot Repay Their BBL’s
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. […]
Subscriber Special 2
Don’t Panic When You Receive a State Aid / Business Interruption Payment Letter/Statement Regarding Your Bounce Back Loan
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. […]