TSB Bounce Back Loan Performance Figures Update 29th February 2024

TSB Bank PLC had a BBL drawdown value of £624.60m, and as such were the tenth largest Bounce Back Loan lender. That represents 1.34% of the total BBL’s issued.

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The following stats and figures are as per the latest BBL data dump that occurred on February the 29th, 2024.

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 31st of December 2023.

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 now personally taken over 10,000 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 and the BBL Defaulter Process is very defaulter friendly and painless.

Pick up that phone and give me a call.

Suspected Fraudulent TSB Bounce Back Loans

The suspected fraud figures for Bounce Back Loans issued by TSB is £22.76million which is 3.64% 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 £20.00million read on for details of the additional Government Guarantee claims also put in and paid out.

TSB Bounce Back Loans Being Repaid on Schedule

The value of Bounce Back Loans from TSB that are being repaid as per the original agreement and therefore are on schedule is £244.0million.

TSB Bounce Back Loans In Arrears

The value of Bounce Back Loans that TSB hold that are in arrears is £12.74million

  • 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 TSB Bounce Back Loans in Default

As per the latest most up to date set of figures, the Defaulted Outstanding balance of TSB Bounce Back Loans is £3.30million.

  • 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 TSB Bounce Back Loan Guarantee Claims Outstanding

As per the latest figures, TSB has £8.00million worth of Bounce Back Loans in a “claims outstanding” state.

  • When TSB 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 TSB

The current value of Bounce Back Loan Guarantee claims paid out to TSB and settled is £119.08million.

  • Once a BBL guarantee claim is processed and payment is released to TSB, 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 TSB 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 TSB that have been fully repaid is £67.59million

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 TSB 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 TSB and their BBL scheme.

>> Bank Gets Their Backside Kicked for Defaulting a Customers Bounce Back Loan with the Ombudsman Saying She COULD Estimate Her Turnover and There Were NO RULES on How to Estimate It and HOW DARE YOU Accuse Her of Fraud

>> Luton Based Company Director Given an 11 Year Ban for Blagging a BBL from TSB By Claiming His Business Turnover Was £221k When It Wasn’t Trading and Obviously Had a Turnover of Zero and for Transferring the Money to Himself

>> TSB Terminated a Sole Traders BBL , She Complains but the Ombudsman Says You Applied for Several BBL’s with Different Turnover Amounts, They Were Estimates She Says, Ombudsman Sides with TSB

A TSB Bounce Back Loan was Obtained by a Director Who Over-Egged Her Turnover to Get It Then Left it Unpaid at Liquidation; She is Now Starting an 11 Year Ban

>> Having Added an Imaginary £96k onto Her Business Turnover to Get a £50k TSB Bounce Back Loan and Leaving it Owing at Liquidation a Company Director is Slapped with a 10 Year Disqualification

>> TSB Customer Misses Out on a Bounce Back Loan Top-Up Due to Various Reasons Including That Bank Listing an Unmonitored Email Address on Their Website, The Ombudsman Says £75 Compensation is Adequate

>> Using a TSB £20K Bounce Back Loan For Foreign Exchange Trading and Leaving That Loan Owing at Liquidation Sees Company Director Given a Modest 3 Year 6 Month Disqualification