Banks are getting nervous about recovering monies from the bounce back loan scheme and are starting to enlist the help of debt collection firms.
Banks have lent almost £40bn to some 1.3m companies and although the loans have been backed by the Government 100%, the banks will have to show that they have taken every step to recoup the money themselves before the Government pay out.
Banks are expecting so much fraud that they are looking to instruct multiple debt collection companies.
Anybody worried about re-paying their loan can contact Stella on 01377 257788 and she will make you an appointment with one of our insolvency professionals. Meetings can be held virtually or in any of our offices in Driffield, Scunthorpe or York whilst observing the socially distancing guidelines.