An ex-electrician faces over a decade of constraints after a significant misuse of a pandemic aid scheme meant to assist businesses through tough times. Andrei Adrian Moise, a 35-year-old from Mitcham, Surrey, secured a Bounce Back Loan of £45,000...
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The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
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An Individual Voluntary Arrangement (IVA) provides individuals with protection from legal action while trying to settle debts. It is a good option for those wanting to repay debts, or an agreed percentage thereof, over a set period of time and avoid...
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One way to deal with personal debts is to apply for a Debt Relief Order (DRO) which are not particularly well-known but can offer a helpful solution for those with relatively low levels of debt and few personally-owned assets. As always, seek...
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If you or your client’s business is facing financial distress it can be a stressful and worrying time for all involved. It can also be daunting to be presented with an overload of information and options on what to do next. Perhaps a formal...
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A former director has been banned from being a company director for 14 years after the Insolvency Service found he had taken £57 million from investors in an unlawful care home investment scheme. Robin Forster was a director at Qualia Care...
Read more...It’s tempting to not think past the end of December and the Christmas break, but a little pre-planning now could save you heartache and insolvency later. Inflation, interest rate rises and the cost of living will continue to impact cashflows so...
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The Debt Respite Scheme is the official name for Breathing Space, a government programme that grants those individuals in debt a break from the stress of missed payments and a chance to catch up financially. If you’re struggling to pay off your...
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Grigorijs Hacaturjancs, the director of online hair and beauty business Beauty & Melody Shop Ltd, has been disqualified as a director for 10 years after fraudulently claiming a £50,000 Bounce Back Loan. Beauty&Melody Shop Ltd was...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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