Bounce back loans and CCJ

[kikkinitch]

Hello,

I have a profitable good business and have banked with Barclays for 8 years. I unfortunately received a CCJ last year due to a disputed amount, pretty normal situation although I didn't receive the court papers which results in the CCJ.

My turnover is between 100k-120k, no other business debt other than a small overdraft and the bank have declined my bounce back loan application. I thought credit history wasn't supposed to come into it!? I'm so stressed, I can't access any other government help because I'm a Director of a ltd company. I know Barclays have been particularly bad so I'm hoping I can maybe apply somewhere else, but does anyone know whether a CCJ should be a problem!? Everything I've read says it should be straightforward with no credit check.

Thanks

 

[Ian J]

I unfortunately received a CCJ last year due to a disputed amount, pretty normal situation although I didn't receive the court papers which results in the CCJ.

Why not apply to have the judgement set aside?

 

[kikkinitch]

Hi Ian,

Form my understanding, there is never very much hope of that happening is there? The papers were sent to my accountants office and went missing so I'm not sure a court would accept that as good enough reason for not attending or being aware of the hearing?

 

[Mr D]

Hello,

I have a profitable good business and have banked with Barclays for 8 years. I unfortunately received a CCJ last year due to a disputed amount, pretty normal situation although I didn't receive the court papers which results in the CCJ.

My turnover is between 100k-120k, no other business debt other than a small overdraft and the bank have declined my bounce back loan application. I thought credit history wasn't supposed to come into it!? I'm so stressed, I can't access any other government help because I'm a Director of a ltd company. I know Barclays have been particularly bad so I'm hoping I can maybe apply somewhere else, but does anyone know whether a CCJ should be a problem!? Everything I've read says it should be straightforward with no credit check.

Thanks

Furlough?
Cbil loan?
Both are accessible to directors.

 

[kikkinitch]

Furlough?
Cbil loan?
Both are accessible to directors.

I wouldn't get much on furlough as I pay myself in dividends. I did originally ask my bank about CBILS but my turnover was just under £100k last financial year and my bank told me it had to be over £100k. My turnover is around £120k in the last calendar year vs accounting year though so don't know if anywhere else would consider me?

 

[Porky]

Hello,

I have a profitable good business and have banked with Barclays for 8 years. I unfortunately received a CCJ last year due to a disputed amount, pretty normal situation although I didn't receive the court papers which results in the CCJ.

My turnover is between 100k-120k, no other business debt other than a small overdraft and the bank have declined my bounce back loan application. I thought credit history wasn't supposed to come into it!? I'm so stressed, I can't access any other government help because I'm a Director of a ltd company. I know Barclays have been particularly bad so I'm hoping I can maybe apply somewhere else, but does anyone know whether a CCJ should be a problem!? Everything I've read says it should be straightforward with no credit check.

Thanks

Was the CCJ against you personally or against the Ltd company? If it’s against you personally maybe if your other director applied it might help?

The BBL is probably the best available. Have to say I didn’t realise it was credit scored myself! I bank with Metro and it isn’t even live yet.

As for other banks, majority are own clients only so that is probably a waste of time. HSBC will offer a feeder account but I can’t see them being different to Barclays

Can I ask what region you are in? If it’s Staffordshire/ West Midlands you could try a society like BCRS to help? If you can explain the CCJ and reasons behind it they would likely factor that in. Rate might be slightly higher? If you are not Midlands Staffordshire they will be similar organisations - check the British banks website

 

[kikkinitch]

Was the CCJ against you personally or against the Ltd company? If it’s against you personally maybe if your other director applied it might help?

The BBL is probably the best available. Have to say I didn’t realise it was credit scored myself! I bank with Metro and it isn’t even live yet.

As for other banks, majority are own clients only so that is probably a waste of time. HSBC will offer a feeder account but I can’t see them being different to Barclays

Can I ask what region you are in? If it’s Staffordshire/ West Midlands you could try a society like BCRS to help? If you can explain the CCJ and reasons behind it they would likely factor that in. Rate might be slightly higher? If you are not Midlands Staffordshire they will be similar organisations - check the British banks website

Hi, thanks for your reply. It's a CCJ against the business and I'm the sole Director.

I'm in the North West so I'll look for similar organisations, thanks a lot.

 

[jimbof]

I bank with Metro and it isn’t even live yet.

It went live-ish today. I'm at position 1800 in an online queue at the moment (the website says closed for further applications at the mo though)

 

[JEREMY HAWKE]

The BBL are not credit checked so a CCJ should not be taken into account
As a young person said on another forum
" This S££t is so good it should be illegal "

 

[kikkinitch]

The BBL are not credit checked so a CCJ should not be taken into account
As a young person said on another forum
" This S££t is so good it should be illegal "

Hi, thanks for replying. So in that case can have i got grounds to complain? I might call HMRC and try and get clarification.

 

[bodgitt&scarperLTD]

HMRC won’t care/be able to do anything.

 

[Mr D]

Hi, thanks for replying. So in that case can have i got grounds to complain? I might call HMRC and try and get clarification.

Why HMRC?
They have enough to cope with under their remit without adding complaints they can safely ignore.
May as well badger the health secretary or the local Lib Dem party.

 

[kikkinitch]

Why HMRC?
They have enough to cope with under their remit without adding complaints they can safely ignore.
May as well badger the health secretary or the local Lib Dem party.

Sorry I didn't mean to complain, I meant to clarify what is meant by debt restructuring. The bank are claiming I don't fit the criteria set by the government so I wanted to ask them if a CCJ falls under this so I can go back to the bank.

 

[Chris Ashdown]

Have you paid off the CCJ in the first 3 months

 

[kikkinitch]

Have you paid off the CCJ in the first 3 months

Hi, no because I wasn't aware of it.

 

[Porky]

Hi, thanks for your reply. It's a CCJ against the business and I'm the sole Director.

I'm in the North West so I'll look for similar organisations, thanks a lot.

In the North West I’m not totally sure but chat to the business enterprise fund:-
https://www.befund.org/

If they can’t help they may know reputable firms by you? If you were midlands based it would be BCRS all day long- you need a similar type organisation imo not a high street bank that you can actually talk to and explain your position.

Banks couldn’t care less the background to a CCJ nor are they likely to underwrite a loan that falls outside of their guidelines, once “computer says no” its stays no!

And as for complaining, forget it, you are wasting your time - seriously talk to societies but make sure you have all the facts. You won’t be the first business to have a CCJ but you need to demonstrate it’s resolved and the reasons. Otherwise it looks like you don’t pay your bills and gives a reason not to lend even if everything else is fine

Good luck

 

[Neil Lukins]

The BB loans should be provided to almost anyone that applies and in the words of a bank manager I spoke to today "if it has a pulse we will give a BB loan".

What sector are you in? The only reason I ask is that I have a Client in the construction sector and they have been declined CBILs with no reason given but we have since found it to be sector related - apparently the banks have unpreferable sectors and you could be in one of them. If this is the case then an independent lender may be one to approach.
DM me if you want to discuss offline.