Bounce back loan and CCJ

nicknock_2

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, although I didn't receive the court papers which resulted in me being unable to dispute the claim. 

My turnover is between 100k-120k, with no other business debt other than a small overdraft and the bank have declined my bounce back loan application on the grounds that the CCJ counts as debt restructuring!? From what I've read, debt restructuring is an official process for struggling companies, which I am not.  

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

Thrugelmir

Generally a CCJ against a company is not a good sign at all. Companies that have CCJ's unfortunately tend to fall into the category of "in trouble". 

nicknock_2

But isn't everyone in trouble right now, that's the point? And you can see from our accounts and bank account that we weren't in trouble before the virus hit.

stevie433

Had a similar problem with Barclays- they do a soft check and if theres a CCJ they won't back an application. Mine comes off the file next month so waiting. It may be worth appplying to the court online to have the judgemnt set aside if you truely didn't receive the papers. Once set aside it should be removed from your credit file. 
  Its not fair as  there is no risk to the banks but they are still carryong out checks heaven only knows why- didin't for the first  couple of weeks then the rules seem to have changed. There's a number of reasons for a CCJ to be on record many have little relation to whether a business is profitable or not. Only takes one nasty customer who knows their way with the legal system and they can cause havoc to traders who are not legal system savvy.

https://www.gov.uk/county-court-judgments-ccj-for-debt/if-you-dont-owe-the-money

nicknock_2

stevie433 said:

Had a similar problem with Barclays- they do a soft check and if theres a CCJ they won't back an application. Mine comes off the file next month so waiting. It may be worth appplying to the court online to have the judgemnt set aside if you truely didn't receive the papers. Once set aside it should be removed from your credit file. 
  Its not fair as  there is no risk to the banks but they are still carryong out checks heaven only knows why- didin't for the first  couple of weeks then the rules seem to have changed. There's a number of reasons for a CCJ to be on record many have little relation to whether a business is profitable or not. Only takes one nasty customer who knows their way with the legal system and they can cause havoc to traders who are not legal system savvy.

https://www.gov.uk/county-court-judgments-ccj-for-debt/if-you-dont-owe-the-money

I know, it's a nightmare isn't it. Even if I had got the papers and disputed it and lost, it doesn't mean you aren't a decent profitable business does it. 

Galloglass

 It may be worth applying to the court online to have the judgment set aside if you truly didn't receive the papers. Once set aside it should be removed from your credit file. 

N244 application plus £255 fee (or £100 if the other party agrees to the set-aside). Takes about 6 weeks. May be longer in the current circumstances.

There are other forms of finance other than bank loans. There are other lenders than high street banks.

BILLBO63

 i have been refused my  bounce back loan from HSBC apparently i do not meet there credit score it has taken them over 8 weeks from my initial call to receiving there application filled in and within seconds refused i do not bank with main banks nor do i have business account  but bank with Halifax any help would be welcome i fall out of the remit for self employed claims from  hmrc 

BILLBO63

does any one know if they have had a Halifax account and gained access to bounce back loan  as this is part of the RBS 
but yet gain the banks only want you to open a business account so they can charge you big fees  we the public helped bail them out but that dose not count 

Grumpy_chap

Fees for a business bank account are not "big".

gt94sss2

BILLBO63 said:

does any one know if they have had a Halifax account and gained access to bounce back loan  as this is part of the RBS 

Halifax is part of the Lloyds Banking group, together with the Bank of Scotland.
This is different from RBS (the Royal Bank of Scotland) who are part of NatWest Bank.

gt94sss2

BILLBO63 said:

 i have been refused my  bounce back loan from HSBC apparently i do not meet there credit score it has taken them over 8 weeks from my initial call to receiving there application filled in and within seconds refused i do not bank with main banks nor do i have business account  but bank with Halifax any help would be welcome i fall out of the remit for self employed claims from  hmrc 

Have you looked at the table at https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/#where