Question

Hi

I am very grateful for your website! I have a bounceback loan from Covid which is from my personal business account and also an overdraft on that same account and I would really like to try and write this debt off as I understand it is fraud.

I understand the basics of the system being fraud and why this is but I’m not sure of the exact steps to actually get out of the Debt itself. I really love some Advice on this thank you.

Jade

Answer

Hi Jade,

I am familiar with the Bounce Back Loan Scheme or BBLS, but unsure why you feel this is in some way fraud?

Did you apply for the BBLS and receive the money, or are you saying someone else has done this using your company or business?

If you feel that some how you have been involved in a fraud or scam, you can contact the lender(s) involved and you may need to seek legal advice.

Are able to repay the loan and overdraft, or are you struggling?

If you can give me more details, and explain why you feel something fraudulent has occurred, I can look more into this for you.

Regards,

Jon

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