Company CCJ and Barclays bounce back loan

nicknock_2

Hi 
I have banked with Barclays for 8 years and applied for a bounce back loan back in June but was told that the one business CCJ we have was classed as debt restructuring so we wouldn't be eligible even though we had a healthy turnover before Covid hit.
The CCJ wasn't for credit and we're not in any negotiations about so I don't know why it would class as debt reconstruction?
All of the info on the bounce back loans says credit history doesn't come into it?
Any advice 
Thanks 

dunstonh

All of the info on the bounce back loans says credit history doesn't come into it?

..of the individual. i.e. a sold trader or director history.

nicknock_2

dunstonh said:

All of the info on the bounce back loans says credit history doesn't come into it?

..of the individual. i.e. a sold trader or director history.

Hi
It says of the company too. Martin clarified that in one of the articles on the website. 

Jeremy535897

You say "I have banked..." and you say "of the company too". Please confirm that:

• there is a company that is trading, and has been trading for some time (you mention 8 years)
• the company has applied for a BBL from Barclays
• the company has a business bank account with Barclays
• the company has no other BBL/CBIL

I do not see how a CCJ can be described as "debt restructuring". Was the company in difficulties at the time, and restructured some of its existing debt to pay the CCJ?

Grumpy_chap

Is the business a Ltd Co?

nicknock_2

Hi there, 
Sorry, to clarify:
Ive had a business bank account with Barclays for 8.5 years, 5 years as a sole trader, 3.5 as a limited company.
I followed the application link on the website then received a call to tell me that according to the government guidance, I wasn't eligible because you can't apply if you're in debt restructuring. I asked him to clarify and he said that because the company has a CCJ, that was classed as debt restructuring. I did my own research and that certainly doesn't apply to that specific situation. No we weren't in trouble at the time and didn't have to restructure any other debt (we don't have any really) The CCJ was a dispute with a supplier, not credit. 
We have no other CBILs or BBL. 
Thanks 

Thrugelmir

Is the CCJ settled? 

Jeremy535897

Presumably the current business bank account is in the company name, not your name?

nicknock_2

Thrugelmir said:

Is the CCJ settled? 

Hi, no we're paying it off in instalments. 

nicknock_2

Jeremy535897 said:

Presumably the current business bank account is in the company name, not your name?

Hi, it is yes. 

Jeremy535897

Then I fail to see why Barclays are refusing. There is no limit on the amount of a BBL that can be used for refinancing, so I don't see what the extended terms on the CCJ have to do with it. I can't imagine that the company is a "business in difficulty" in one of the relevant sectors at 31 December 2019? They are not obliged to check whether the company is viable, or can afford to repay the loan. I think you will have to request a formal written explanation of what the issue is, with all haste as the time limit is 30 November 2020.