I Can't Pay my Bounce Back Loan - What are my Options?
Worried about or have missed repayments? Speak to our team today
Can I Write Off My Bounce Back Loan?
In regards to bounce back loans, the loan can only be "written off" if your business fails and undergoes Liquidation due to severe financial distress. If you can't repay your bounce back loan, or have missed repayments, the best thing you can do is speak to us as soon as you can before to problem gets worse.
We've supported many businesses just like yours and can help present your options to you based on your individual circumstances. Our service is completely free and confidential.
Get in touch today, our team will call you. Let's work through this together.
Bounce Back Loan Repayment Help (PAYG)
If you're having repayment problems, the Pay As You Grow scheme offers three options to help with repayments. Speak to your lender to discuss using these options:
- Request an extension to the loan term, from 6 years to 10 years
- Request to pay 'interest only' for a period of six months
- Take a payment holiday for up to 6 months
If the PAYG options are not suitable or have already been utilised, you need to speak to our team to assess alternative options.