I have been sent a slew of these letters recently from people who have defaulted on a Bounce Back Loan, you may have had one yourself or may have been sent any of the dozens of other letters I have put up on the website. However, if you are on the way to defaulting or simply curious as to what such letters state, then read on as its certainly an eye opener.
This letter, which for the record I have asked the Financial Conduct Authority to comment on, is somewhat interesting.
Either way, the rules state the Debt Collectors have to stop Recovery Action after 12 months of the demand for full repayment, so it does look like a last roll of the dice for the Debt Collectors to get people to contact them who haven’t.
