Can You Write off a Bounce Back Loan?

Many directors are struggling with repayments on bounce back loans taken out during the pandemic. Here's what you need to know:

No Personal Liability: As a director of a limited company, you are not personally liable for the debt.

Explore Options: Request a payment break or reduced repayment from your bank.

Consider Liquidation: If the company can't continue trading, liquidation might be the best option.

Each situation is unique. Early advice can open up more options. We're here to help with a free, confidential chat. Contact us today!

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