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Bounce back loans
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<blockquote data-quote="Dragon" data-source="post: 7868786" data-attributes="member: 1618"><p>What is the implication of not paying back a bbl.</p><p> An aquatance has got them selves in a muddle. Can you close a sole trader business, clear debtors with only the bbl not paid, with no further funds available to pay bbl? No assets etc </p><p>Are creditors likely to press for insolvency/bankruptcy? </p><p>Obviously the bbl is government backed, but the lender will have investigate non repayment.</p></blockquote><p></p>
[QUOTE="Dragon, post: 7868786, member: 1618"] What is the implication of not paying back a bbl. An aquatance has got them selves in a muddle. Can you close a sole trader business, clear debtors with only the bbl not paid, with no further funds available to pay bbl? No assets etc Are creditors likely to press for insolvency/bankruptcy? Obviously the bbl is government backed, but the lender will have investigate non repayment. [/QUOTE]
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