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Bounce Back Loans

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By (user no longer on site) OP   
over a year ago

Has anyone on here negotiated to reduce the monthly repayments on there bounce back loan?

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By (user no longer on site)
over a year ago

Is that possible? Good luck my friend, I hope you get some relief on the payments.

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By (user no longer on site) OP   
over a year ago


"Is that possible? Good luck my friend, I hope you get some relief on the payments. "

I think period of repayment has been extended from 6 to 10

Years

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By (user no longer on site)
over a year ago

Yeh you can change to pay over 10 years, not done it myself but know it can be requested

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By *harpDressed ManMan
over a year ago

Here occasionally, but mostly somewhere else

If you haven't bounced back in 6 years, what use is another four?

People need support, but it should have to be credible...

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By (user no longer on site)
over a year ago


"If you haven't bounced back in 6 years, what use is another four?

People need support, but it should have to be credible..."

Well seeing as it's only been 2 and we are currently in the middle of a cost of living crisis!

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By *harpDressed ManMan
over a year ago

Here occasionally, but mostly somewhere else


"

Well seeing as it's only been 2 and we are currently in the middle of a cost of living crisis! "

The entire country isn't getting a loan that's a obviously going to get written off though...

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By (user no longer on site)
over a year ago

I mean he's paying it back already, it's paid back over 6 years not in 6 years.

And secondly the loan is already done, so if reducing the payments means the company can keep repaying then surely that's better. Either way if it gets written off in 6 years or 10 probably doesn't matter

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By (user no longer on site) OP   
over a year ago

Folks to clarify I’ve went from being self employed to paye full time employment.

I will 100% pay the loan back.

I just want some breathing space

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By *harpDressed ManMan
over a year ago

Here occasionally, but mostly somewhere else

To be clear, I wasn't suggesting YOU would try to avoid paying it back, just that the proportion of all the loans that wouldn't be paid back (for both valid and invalid reasons) will be significant.

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By (user no longer on site) OP   
over a year ago


"To be clear, I wasn't suggesting YOU would try to avoid paying it back, just that the proportion of all the loans that wouldn't be paid back (for both valid and invalid reasons) will be significant. "

I don’t disagree.

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