Bounce back loan HSBC pay as you grow

Roryyoung91

I took out a bounceback loan ( sole trader ) August 2020

Do to restrictions lasting longer than first thought i need to use the pay as you grow service as dont think ill be trading fully until Jan 2022.

HSBC did not write to me giving me my options on payasyou grow ( as they stated the would write 3 months prior on their website ), I missed my first payment and no cannot contact them.

X3 phone calls, online form, live chat, x3 emails and a letter!. I've not heard back from the letter - the email says I'm not eligible even though the letter that says I've missed my payment I am. Also online it appears any business that look out the loan is eligible.  Everyone else live chat,online form says they cannot help.

What can I do  . I submit a complaint - hsbc says I can't use pay as you grow and if I don't like it go to the Ombudsman.  I feel I'm going to have to go through this but it will be another 8 weeks atleast of arrears when all I'm wanting to do is set up a 6 month extension and start paying early next year

Can anyone help?

sheramber

 

https://www.business.hsbc.uk/en-gb/finance-and-borrowing/credit-and-lending/bounce-back-loan-scheme

Are you calling this number  

What happens if I have a Bounce Back Loan and can’t make the payment on the loan after 12 months?

If you’re concerned that you can’t meet the repayments on your loan after 12 months, then please call the Coronavirus Customer Support Line as soon as possible on 08000 121 614 (we’re open 8am-6pm, Monday to Friday).

We’ll assess your situation and discuss your options.

superbigal

I think you should pay the loan for now and argue after.  Your hardly busy as you say.  You had spare savings after maxing out your ISAs.

MattMattMattUK

Roryyoung91 said:

I took out a bounceback loan ( sole trader ) August 2020

Do to restrictions lasting longer than first thought i need to use the pay as you grow service as dont think ill be trading fully until Jan 2022.

HSBC did not write to me giving me my options on payasyou grow ( as they stated the would write 3 months prior on their website ), I missed my first payment and no cannot contact them.

X3 phone calls, online form, live chat, x3 emails and a letter!. I've not heard back from the letter - the email says I'm not eligible even though the letter that says I've missed my payment I am. Also online it appears any business that look out the loan is eligible.  Everyone else live chat,online form says they cannot help.

What can I do  . I submit a complaint - hsbc says I can't use pay as you grow and if I don't like it go to the Ombudsman.  I feel I'm going to have to go through this but it will be another 8 weeks atleast of arrears when all I'm wanting to do is set up a 6 month extension and start paying early next year

Can anyone help?

You can manage all of that from within your your online HSBC business account, on the BBL tab.