Subscriber Special – Despite Lenders Informing the Government they are NOT Pursuing Individual Vulnerable Directors For BBL Debts Owed by Their Ltd Companies, The Government Continue to Drag Their Heels Removing the Strike Off Blocks They Imposed on Those Companies

Once a Bounce Back Loan Lender is aware one of their customers who is a LTD Company Director is vulnerable, through ill health, mental or physical conditions or a range of other things which will see someone being classified as such, and they are no longer trading, they will inform the Government who should lift any pending Strike Off for that Company.

 BBL Legal Advice  BBL Legal Advice close a limited company close a limited company

Those blocks were imposed to close a loophole caused by out and out fraudsters bagging a BBL for their Limited Company, then once it was paid out, they withdrew it and quick as a flash applied for a strike off without telling the Lender, who, if they knew that would have blocked the Strike Off.

For reference they are taking the court and locking up those who they know did that, as they changed the law to allow them to do so. I am sure we can all agree that is right and proper, as by pulling that scam they never had any intention of repaying the BBL or continuing to trade.

More on that here >

However, I am seeing case after case of Lenders informing vulnerable BBL recipients they are not pursuing their Company’s unpaid BBLs, and they “have informed the Government” who seem to be dragging their heels at removing the blocks on those Companies from legitimately getting struck off.

Those Company Directors already classified as vulnerable in that limbo land will see their Companies still classed as active, which means whilst stuck in that position HMRC are often on their back.

Here is a reminder of when I previously asked the Government about such, and their very clear reply confirming they will permit such blocked Strike Offs to be unblocked. >>

The Government Have Just Been in Touch with Me About the Ping-Pong and Limbo-Land Many People are Experiencing with the Department for Business and Trade Blocking Strike Offs When a Company Has a Bounce Back Loan Owing – Read Their Official Response