Funding Circle’s Social Media Snooping and Misuse of Bounce Back Loan Funds Leads to Repayment Demand, Minimal Ombudsman Compensation
Special Reports
HM Treasury’s Tom Scholar Admits Bounce Back Loan Fraud and Error Figures Far Exceed Bank Estimates
HM Treasury’s Tom Scholar confesses BBL fraud and errors outstrip bank figures. We analyse his surprising admission. […]
BBL Complaints Upheld
HSBC Ordered to Pay Compensation for Misleading Bounce Back Loan Eligibility, Ombudsman Upholds Complaint
HSBC denied Bounce Back Loans to feeder account applicants not trading by April 2019, misleading customers. The Ombudsman upheld the complaint, ordering compensation. […]
Recovery Action 3
Warning Issued – Set Up An Affordable Repayment Plan ASAP If You Over-Egged Your Turnover (Either by Mistake or Otherwise) to Get a BBL as You Have One Final Window of Opportunity to do the Right Thing Before No Nonsense Recovery Action Begins
Businesses that overstated their turnover—whether intentionally or by error—to secure a Bounce Back Loan are urged to establish an affordable repayment plan immediately. With a final, limited opportunity to rectify their situation, failure to act promptly could trigger aggressive recovery measures by lenders or the Insolvency Service, potentially leading to director disqualifications or legal action.
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