Natwest Bounce Back loan and discharged bankruptcy

kerward82

Hi Guys 
I have been applying with Natwest for 3 weeks now for a bounce back loan and I'm getting no where. I was discharged from bankruptcy in August 2019 and I keep getting rejected due to an undischarged bankruptcy. I have sent them my discharge papers and my credit report. I'm currently spending 2 hours a day on the phone being told different stories. Natwest told me I was elligable and they have a computer error, They have just left me a voice message saying they aren't giving loans to any ex bankruptcy clients, I've rang the complaints department who have said this is wrong again. Natwest have escalated my application 3 times since May 13th and they text to say they will be in touch by day 5 but still no correspondence. My business was not in difficulty in dec 2019 etc. 62k worth of sales went through my accounts with natwest last year. I speak to a lady who was discharged the same time as me and barclays have accepted and paid her loan. Has anyone else had a situation similar to this? 

stevie433

Having gone round and round with Barclays for since BBl came out it seems the goalposts have moved in the past couple of weeks and despite fulfilling all the criteria - Sole trader 128K t/o no troubles whatsoever 19/20 return complete - Barclays won't allow me to apply as I have a minor black mark on my credit file 70months ago. I understood that previously credit checks weren't being done but banks are making up their own rules and anyone with any kind of adverse credit won't be able to apply - which is daft as if you passed the banks credit checks you'd have probably borrowedoff of them already. Not nearly as straightforward as  portaryed by the government. I have no choice it seems but to wait for 16th July whan I have a clean credit file. Are all banks credit checking applicants who run their businesses though private accounts??

kerward82

Hi 

My friend applied with Barclays last week and is discharged from bankruptcy and got accepted. I just don't know how there is different rules for different people 

Shay65

kerward82 said:

Hi Guys 
I have been applying with Natwest for 3 weeks now for a bounce back loan and I'm getting no where. I was discharged from bankruptcy in August 2019 and I keep getting rejected due to an undischarged bankruptcy. I have sent them my discharge papers and my credit report. I'm currently spending 2 hours a day on the phone being told different stories. Natwest told me I was elligable and they have a computer error, They have just left me a voice message saying they aren't giving loans to any ex bankruptcy clients, I've rang the complaints department who have said this is wrong again. Natwest have escalated my application 3 times since May 13th and they text to say they will be in touch by day 5 but still no correspondence. My business was not in difficulty in dec 2019 etc. 62k worth of sales went through my accounts with natwest last year. I speak to a lady who was discharged the same time as me and barclays have accepted and paid her loan. Has anyone else had a situation similar to this? 

Hi sounds exactly what has happened to us.  Keep getting rejected but my business has NEVER had a bankruptcy order.  Been told by 3 different people my loan has been approved and will be in my account which was over 2 weeks ago, then being told they should not have said that.  Have got 2 text my issue is being looked into which will take 5 days that was around the 10th.  From 5th to 15th May spent a total of 8 hours on the phone to them.  Been told to apply then told not to apply.  It is utterly disgraceful how I have been treated, the time it has taken without a response and all the different answers.  Someone or something needs to give Natwest a good kick up the bum for treating their customers like this.  Having to use the money to live on as have had no income since 23rd March and not eligible for anything else, rent etc is now two months in arrears.  At my wits end.  Have no idea what to do next.

John_

Shay65 said:

kerward82 said:

Hi Guys 
I have been applying with Natwest for 3 weeks now for a bounce back loan and I'm getting no where. I was discharged from bankruptcy in August 2019 and I keep getting rejected due to an undischarged bankruptcy. I have sent them my discharge papers and my credit report. I'm currently spending 2 hours a day on the phone being told different stories. Natwest told me I was elligable and they have a computer error, They have just left me a voice message saying they aren't giving loans to any ex bankruptcy clients, I've rang the complaints department who have said this is wrong again. Natwest have escalated my application 3 times since May 13th and they text to say they will be in touch by day 5 but still no correspondence. My business was not in difficulty in dec 2019 etc. 62k worth of sales went through my accounts with natwest last year. I speak to a lady who was discharged the same time as me and barclays have accepted and paid her loan. Has anyone else had a situation similar to this? 

Hi sounds exactly what has happened to us.  Keep getting rejected but my business has NEVER had a bankruptcy order.  Been told by 3 different people my loan has been approved and will be in my account which was over 2 weeks ago, then being told they should not have said that.  Have got 2 text my issue is being looked into which will take 5 days that was around the 10th.  From 5th to 15th May spent a total of 8 hours on the phone to them.  Been told to apply then told not to apply.  It is utterly disgraceful how I have been treated, the time it has taken without a response and all the different answers.  Someone or something needs to give Natwest a good kick up the bum for treating their customers like this.  Having to use the money to live on as have had no income since 23rd March and not eligible for anything else, rent etc is now two months in arrears.  At my wits end.  Have no idea what to do next.

There are tens of thousands of jobs available today in agriculture. If you have no income then taking one of those would probably be a good idea until you can get your other work back up and running.

It’s also time to use your emergency fund. It’s supposed to be for a rainy day, and it’s pouring right now.

Galloglass

Like all lending, it is covered by the normal FCA rules. If you have a complaint, you don't do it here. You complain to the bank and then the Financial Ombudsman. It's made clear this is the approach in the terms of the NatWest site

https://www.business.natwest.com/content/dam/natwest/business/documents/sbl/BBLS-Lender-Expectations-NW.pdf

No point in asking people to second guess a bank and their ways. If you want clarity, get NW to explain it to the FOS.

kerward82 Do you have any BROs/BRUs ?

Shay65

There are tens of thousands of jobs available today in agriculture. If you have no income then taking one of those would probably be a good idea until you can get your other work back up and running.

It’s also time to use your emergency fund. It’s supposed to be for a rainy day, and it’s pouring right now.

 John  Not being rude but at a loss as to why you put above comment after my post.  Not sure how this is helpful or has anything to  do with Natwest and BBL.

kerward82

John_ said:

Shay65 said:

kerward82 said:

Hi Guys 
I have been applying with Natwest for 3 weeks now for a bounce back loan and I'm getting no where. I was discharged from bankruptcy in August 2019 and I keep getting rejected due to an undischarged bankruptcy. I have sent them my discharge papers and my credit report. I'm currently spending 2 hours a day on the phone being told different stories. Natwest told me I was elligable and they have a computer error, They have just left me a voice message saying they aren't giving loans to any ex bankruptcy clients, I've rang the complaints department who have said this is wrong again. Natwest have escalated my application 3 times since May 13th and they text to say they will be in touch by day 5 but still no correspondence. My business was not in difficulty in dec 2019 etc. 62k worth of sales went through my accounts with natwest last year. I speak to a lady who was discharged the same time as me and barclays have accepted and paid her loan. Has anyone else had a situation similar to this? 

Hi sounds exactly what has happened to us.  Keep getting rejected but my business has NEVER had a bankruptcy order.  Been told by 3 different people my loan has been approved and will be in my account which was over 2 weeks ago, then being told they should not have said that.  Have got 2 text my issue is being looked into which will take 5 days that was around the 10th.  From 5th to 15th May spent a total of 8 hours on the phone to them.  Been told to apply then told not to apply.  It is utterly disgraceful how I have been treated, the time it has taken without a response and all the different answers.  Someone or something needs to give Natwest a good kick up the bum for treating their customers like this.  Having to use the money to live on as have had no income since 23rd March and not eligible for anything else, rent etc is now two months in arrears.  At my wits end.  Have no idea what to do next.

There are tens of thousands of jobs available today in agriculture. If you have no income then taking one of those would probably be a good idea until you can get your other work back up and running.

It’s also time to use your emergency fund. It’s supposed to be for a rainy day, and it’s pouring right now.

I have 4 children whom I'm a single mum too. Since childcare providers are shut I have no childcare to be able to get another job! 

Also savings? Those have been used putting a roof over my head since my salon shut at the beginning of covid and I have salon rent to pay etc 

SidneySmutt

You may have been discharged from Bankrupty. But the Bankruptcy itself stays on your credit report for 6 years. You remain registered with the London Gazette for life.

I would hazzard a guess your Bankruptcy is stopping any loans/credit?

Lauralou20

Have you managed to get anywhere with Natwest? I'm in a very similar position except I have never been bankrupt. I've been calling and emailing them furiously for the last 2 weeks, I've been completely ignored. They keep saying the lending team will review, it's an error, and reapply. Ive reapplied several times and still get the exact same rejection letter.

I've made a complaint 10 days ago which hasn't been answered. 

I emailed the CEO who said they were looking into it for me which was last week and they still haven't got back to me. I'm soooo angry.

I can't get accepted for a business bank account anywhere else now, I have one preexisting with Tide but they're going nowhere fast. 

I just want someone to manually review my application with Natwest so I can get a straight answer from them. It's cruel to leave people waiting for weeks like this telling them someone's looking into it and they never do. 

When my complaint finally does get answered I will definately be escalating it to the FCA after what they've done to me. 

Lauralou20

I've been told it's an error on their automated system. 
. Then I've been told that apparantly Equifax have been giving out the wrong information when I already have an Equifax account and it says nothing about bankruptcy on there at all. 

And then I called today and a different advisor said its because someone else must have the same name as me and that is why it's being rejected. 

I've been told everyday for the last 2 or 3 weeks that the lending team will call me back. When I called today apparantly it was only just escalated to the lending team on Friday (about 4 days ago) I'm SO angry.