Month: September 2022

The Disqualification Files

Company Director Uses a Lloyds Bank Bounce Back Loan to Pay Off a Personal Loan Against Her Property and Gets a 7 Year Disqualification for Leaving the BBL Unpaid at Liquidation

September 7, 2022

Bagging a BBL then getting a BBL top up and using it to pay off a personal loan taken out against her home was never a good idea, much more so when the BBL was never repaid, Having admitted such to the Liquidator, this Company Director is now starting a 7-year disqualification as punishment.   […]

The Disqualification Files

Using Over £40k of a £50k Lloyds Bank Bounce Back Loan for Personal Benefit and Leaving it Owing at Liquidation of His Company Results in a 6 Year Disqualification

September 7, 2022

No wonder Lloyds Bank are now admitting that they suspect a huge number of their Bounce Back Loan recipients blagged a BBL off them or suspect them of some other form of wrongdoing, when you read through this case, in which one of their customers has just received a 6-year disqualification. […]

The Disqualification Files

Insolvency Service Slap a Company Director With a 6 Year Disqualification As They Couldn’t Work Out Whether His Company Was Eligible for a £50k Bounce Back Loan and Where It Went.

September 6, 2022

By not delivering to a Liquidator or in the alternative not maintaining and/or preserving accounting records, leaves the Insolvency Service with a problem when a Company takes the insolvency route with a BBL owing, as they cannot work out whether the Company was eligible for that loan and cannot work out where it went. Which in the case below, led to them slapping a Company Director with a 6 year disqualification. […]

Subscriber Special 2

New Figures Reveal Over 29% of All Bounce Back Loans Have Already or are Showing Signs of Being Defaulted On Including Some Which Lenders Have Silently Written Off

September 6, 2022

What better day to release the latest facts and figures about Bounce Back Loans, than on the day the new Prime Minister is announced, and it was yesterday at around 5pm those figures were released, which as you will see below, they reveal some shocking facts about the BBL scheme and current status of many loans. […]