BBL Complaints

BBL Complaints and Outcomes

Financial Ombudsman Finally Makes a Ruling on a Complicated Bounce Back Loan Related Case Surrounding a New Business and Estimated Turnover Which Resulted in a Snatch Back Letter and the Cancelling of That Lloyds Bank Issued BBL

November 11, 2021

With so many people now receiving snatch back letters and demands for the immediate repayment of a Bounce Back Loan (I spoke to several people only yesterday that have just received such a letter and demand), today I present to you a ruling on one such case in which you will see one minor mistake in applying resulted in the Financial Ombudsman not upholding the complaint. […]

BBL Complaints and Outcomes

Financial Ombudsman Agrees Bounce Bank Loans Were Not Subject to Credit Scoring but HSBC Feeder Accounts Were – Therefore Catch 22 Means They Refuse To Uphold Complaint From SME Who Could Not Access That Scheme Having Been Declined a Feeder Account

November 11, 2021

With so few Bounce Back Loan lenders allowing new customers to open a bank account, many people did miss out on any chance of getting one of those loans. The Financial Ombudsman Service receives a lot of complaints from those declined a bank account from the few banks that did let new customers apply for an account and therefore those who did not have access to the BBL scheme, even those who state they have no CIFAS Markers and have […]

BBL Complaints and Outcomes

Co-Operative Bank Close SMEs Account Due to Risk Appetite Then Snatches Back a £50k Bounce Back Loan Telling Customer to Apply Somewhere Else and Bungs Them £100 Compensation – Financial Ombudsman Thinks That Is Fair and Dandy

November 10, 2021

I am publishing any and all outcomes to complaints sent to the Financial Ombudsman Service (FOS) I come across related to Bounce Back Loans so that you can connect the dots and see how the FOS are handling such complaints, as they may come in handy if you are thinking of taking that route yourself or even thinking of legally challenging your BBL. This complaint is a common one as it relates to a BBL snatch back […]

BBL Complaints and Outcomes

Financial Ombudsman Tells Bank of Ireland To Pay SME Just £250 For CIFAS Marker They Registered Against Him Which Resulted in a Bounce Back Loan Application Being Declined – SME Claims He Lost £15k as a Direct Result of that Marker

November 9, 2021

During the time the Bounce Back Loan Scheme was live, I chatted to a number of people who had been declined a BBL due to a bank, at some point in the past, and often unknown to them, registering a fraud marker against their name with CIFAS. Whilst getting erroneous and unfair […]