Lord Agnew Happy His Huge Shareholding in Close Brothers Has Not Been Devalued With the News That Lender Has Received £0.38million of Their BBL Loan Book Back Via a Payout from the Government Guarantee Due to Defaults and Suspected Fraud

Close Brothers Ltd had a BBL drawdown value of £2.26m, and as such were the twenty-fourth largest Bounce Back Loan lender.

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The following stats and figures are as per the latest BBL data dump that occurred on November the 28th, 2023.

However, to keep the true and shocking extent of the figures away from public eyes for as long as is possible, it was decided by the powers that be that the data only covers the actual state of play up until the 30th of September 2023.

Let’s Get Your Unaffordable BBL Put to Bed

Before you Read On

If you are sat there in a dark place, worrying about Bounce Back Loan repayments that you cannot afford to make, or possibly are considering taking the Insolvency or Bankruptcy route as a Company Director or Sole Trader, or have defaulted on your BBL and are wondering why no one is chasing you, or your company strike off has been blocked and you are in limbo land, and/or just want someone to talk to before making a decision on how to proceed, feel free to give me a call.

You can contact me any day of the week on the number displayed above, all in complete confidence and never forget, as the following figures will prove, you are not alone in your current circumstances, no matter what situation you find yourself in, and you have plenty of options.

I have personally taken over 7,000 calls to date via my helpline and have chatted to many thousands more online, if you feel it’s your turn for a chat, it will be my pleasure to talk to you.

The pandemic sadly took a lot of victims and left others with very deep mental and financial scars, but as far as a Bounce Back Loan goes, you have plenty of options available to you.

Pick up that phone and give me a call.

Suspected Fraudulent Close Brothers Bounce Back Loans

The suspected fraud figures for Bounce Back Loans issued by Close Brothers is £0.06million which is 2.50% of their total BBL loan book. In respect of the value of Government BBL guarantee claims put in by this lender but with the reason for the claim being “fraud” that value is £0.05million read on for details of the additional Government Guarantee claims also put in and paid out.

Close Brothers Bounce Back Loans Being Repaid on Schedule

The value of Bounce Back Loans from Close Brothers that are being repaid as per the original agreement and therefore are on schedule is £1.07million.

Close Brothers Bounce Back Loans In Arrears

The value of Bounce Back Loans that Close Brothers hold that are in arrears is £0.

  • Loans with missed repayments are deemed to be in arrears.
  • Loans are tracked in 30, 60 and 90 day cohorts by lenders to manage risk.
  • Lenders report monthly arrears updates through the Scheme Portal on a “best endeavours” basis.
  • Some lenders submit arrears via the automated (API) functionality in the Scheme portal, but it is not possible for smaller lenders to integrate with this functionality so arrears are entered manually.
  • Loans in arrears that have moved to a later life-cycle stage (such as Defaulted) will be reported in the later life-cycle stage but may still carry arrears.
  • At the time of this event occurring, this is an actual balance, and not estimated.

Value of Close Brothers Bounce Back Loans in Default

As per the latest most up to date set of figures, the Defaulted Outstanding balance of Close Brothers Bounce Back Loans is £0.

  • Defaults are Loans where the lender has issued a formal demand to the borrower.
  • At the time of this occurring, this is an actual balance, and not estimated.

Value of Close Brothers Bounce Back Loan Guarantee Claims Outstanding

As per the latest figures, Close Brothers has £0 worth of Bounce Back Loans in a “claims outstanding” state.

  • When Close Brothers has submitted a claim under the guarantee, the loans sit in the claimed outstanding state whilst the British Business Bank awaits/processes the invoice for the claim and runs relevant checks.
  • Under the terms of the guarantee the claim must be paid within 30 days of receipt of the claims invoice, however on average they get paid in 12 days.
  • Guarantee claims can be submitted by Lenders each Quarter.

Bounce Back Loan Guarantee Claims Approved and Paid Out to Close Brothers

The current value of Bounce Back Loan Guarantee claims paid out to Close Brothers and settled is £0.38million.

  • Once a BBL guarantee claim is processed and payment is released to Close Brothers , the facility is marked as settled on the Scheme portal.
  • Some lenders may be more advanced than others in their claims and recoveries processes which could lead to figures being distorted.
  • Lenders may submit guarantee claims Quarterly in line with the terms of the guarantee.

Value of Close Brothers Bounce Back Loans Repaid in Full by Borrowers

Some BBL Borrowers have of course repaid their loans in full, and currently the value of BBLs issued by Close Brothers that have been fully repaid is £0.23million

Are They Jailing People for Bounce Back Loan Fraud?

They are indeed locking people up for BBL related fraud, and there is a section of the website dedicated to “BBL Jailbirds” listing exactly what some people did that led them to go before a Judge in Court, you will find it on the following link

> https://mrbounceback.com/category/bbl-jailbirds/

Some additional sections of the website you may find of interest:

> https://mrbounceback.com/category/coming-to-get-you/

> https://mrbounceback.com/category/the-chasing-game/

> https://mrbounceback.com/category/subscriber-special/

> https://mrbounceback.com/category/the-end-game/

> https://mrbounceback.com/category/bbl-bounty-hunters/

> https://mrbounceback.com/category/bbl-door-kicker-files/

BBL Help and Support

I’ve been to the Treasury, the Palace of Westminster, Bank HQ’s and even the British Business Bank and chatted to many MP’s and Government Ministers about Bounce Back Loans, they all know many people cannot repay their loans and if you are sat there right now, possibly in a dark place worrying about repaying it, then be aware it’s not all doom and gloom if you have to default.

Please check out the following sections of the website for additional information as to the options available to you:

> https://mrbounceback.com/category/help-and-support/

> https://mrbounceback.com/category/forbearance/

> https://mrbounceback.com/category/vulnerable-bblers/

Struggling to Repay Your Bounce Back Loan?

If you are struggling to repay your Bounce Back Loan, firstly be aware you are not alone, have a read through some of the following guides and articles that I have put together, as it does have to be said the rules, which are unique to the BBL scheme are somewhat defaulter friendly:

>> You Should NOT Be Pursued for More Than 12 Months for the Recovery of an Unpaid Bounce Back Loan – Read and Watch the Official Statements / Comments from BEIS, the Financial Conduct Authority, and the National Audit Office

>> Discover How Each Individual Lender Is Responding to Their Customers Who Contact Them About Being Unable to Pay Their Bounce Back Loans – The Good, the Bad and the Ugly

>> Please Do Not Be Afraid To Tell Your BBL Lender / Their Debt Collector You Are Vulnerable If You Are – They Won’t Turn Their Back on You and WILL Ensure You Get Fair Treatment and They CAN Write Off a BBL and STOP Chasing You For Repayment

>> Read Written Confirmation That Ministers Have Told Bounce Back Loan Lenders That 12 Months Is An Appropriate Amount of Time to Pursue Outstanding BBL Debts

>> The Final Nail in the Bounce Back Loan Coffin? – Read and Digest This Letter Offering “Substantial Discounts” to BBL Defaulters! Why Repay a BBL in Full When They Will Offer You Such a Deal? The Government and a Lender Asked to Respond

>> You’ll be Able to Confirm Yourself (If You’ve Defaulted) That BBL Lenders All Appear to Be Behaving Themselves (Currently) and Are Stepping Back and Ceasing All Recovery Action on Defaulted BBLs After 12 Months – If You Don’t Know Why, Read On

>> Defaulted On Your Bounce Back Loan? – Check The Date on the Demand for Full Repayment Letter Your Lender Sent You, As That is the Key to Discovering Whether You Are Passed the Point of Lender Recovery Action

Watch My Fireside Chat with the British Business Bank

Arrears and Collections Procedure

This is the arrears and collections procedure agreed between BBL Lenders and Government, that you may find of interest:

A Selection of Close Brothers BBL Related News Stories

Do have a good look around the website for there are plenty of news stories, facts and stats and other information about all Bounce Back Loan Lenders and use the search box if you are seeking articles related specifically to Close Brothers and their BBL scheme.

>> Close Brothers the Bank Lord Agnew Has Shares In Treats a Customer Appallingly and Stops Him Getting a Bounce Back Loan and One of Their Agents Send Him a “The Police Are Desperate to Arrest You” Message The Ombudsman Steps in and Gives Them a Good Slapping