CHALLENGE YOUR BOUNCE BACK LOAN.

Thousands of people like you are struggling to pay off their Bounce Back Loan due to extended government restrictions preventing trade. We are legally challenging the Loans and campaigning for their write off or reduction.

KEY FACTS

Excluded

3.8 million business people were excluded from meaningful financial assistance.

Out of options

The only option available to many small businesses was to take a Bounce Back Loan or Coronavirus Business Interruption Loan – it was a matter of survival

An unclear guarantee

Many businesses thought the government guarantee was to them, not to the banks

Profiteering

The banks are making super profits at the expense of businesses as interest on loans at 2.5% is way above the 0.1% base rate and they have a government guarantee for any defaults

Extended lockdown

Businesses fully expected to be able to trade to repay their loans – the extended lockdown has prevented that

The end of furlough

Furlough ended in September 2021 and thousands of jobs are at risk

Pressure on UK business

Inflation is rising – putting even more pressure on UK busXiness

2.5% rises in tax

The government has now introduced an additional 1.25% on National Insurance Contributions from April 2022 plus a 1.25% tax rise on dividends

Action is needed

The government needs to take action now to prevent thousands of businesses going bust and huge job losses.

THE BEST TEAM FOR THE JOB

We are a specialist law firm dedicated to:
• Legally challenging the repayment of your Bounce Back Loan with both your bank and the Financial Ombudsman;
• Campaigning for the reduction or elimination
of your capital and interest repayments and
• Fighting for British businesses
who simply cannot afford to repay the loans.

the legal argument

When the government implemented the Bounce Back Loans and Coronavirus Business Interruption Loans it specifically legislated (s.12 of the Business and Planning Act 2020) to prevent challenges to the loans based upon consumer credit legislation.

It did so on the basis that the loans were needed urgently and in large numbers so usual consumer protections should not apply.

CHALLENGE
YOUR BOUNCE
BACK LOAN

Start your claim