Case overview – Renegotiated a loan agreement with help from the BBRS

Charlie was a director of an agricultural business. They were encouraged by their then business manager to agree to a loan which they later found to be unsuitable. This led to financial difficulties, threatening the survival of the business.

Charlie had tried to resolve this banking issue through other routes, but these approaches were unsuccessful.

Achieving resolution

Charlie reached out to the BBRS and spoke to one of our customer champions who helped the customer feel heard and discussed the different routes to achieving a resolution. The complaint fell outside the BBRS’s eligibility criteria, but we believed we should be able to consider it. We presented the complaint to the bank as a concessionary case and both the bank and the customer agreed a way forward through talks instead.

The matter was resolved and Charlie found they had gone from facing the loss of their livelihood to having a thriving business, opening up the prospect of passing it on to the next generation. Both parties were able to retain an effective business banking relationship.

In their own words, Charlie said that the BBRS’s approach represented a “breath of fresh air” from previous dispute resolution experiences, and that “they really made me feel listened to”. They particularly praised the work of the customer champion, who listened and took the time to understand the facts, offering “amazing support” whilst remaining impartial and managing expectations. Charlie said that thanks to the BBRS’s help in facilitating a resolution they felt they could “actually breathe now”.

This testimonial is an account of a real customer experience with names and some details changed. Each case that reaches the BBRS is different and customer outcomes will vary.