UPDATES
14th March 2024 – Amigo comes clean on payment timetable
Decisions:
- Amigo has now crawled up to 91% of decisions issued. So it will be missing the target of 95% of decisions issued by mid March that it set 2 weeks ago.
- they now say they expect to issue 95% of all decisions 22 March 2024, with the remainder being issued by mid-April 2024.
“In full” payments
- payments have started for the “In full” refunds;
- where a decision was issued on or before 1 February and you do not have a live loan, your payment should be made by the end of March
- where a decision was issued on or before 1 February and you do have a live loan with a balance outstanding, your payment should be made by the end of April
- where a decision was issued after 1 February, your payment should be made between mid April and end May
“Percentage” payments
- it still expects to be paying at least 17p in the pound to people expecting to get the “percentage” refunds
- it has rowed back from saying it expects the first instalment of the percentage payments to be made in April or May. It now says that it expects to “declare an interim dividend” in April or May – that is the percentage that it will pay as the first instalment, eg 10% or 12% say. And it expects payments of the first instalment to be within 30 days of making that statement about the amount.
- so they could be in June… but April is still possible.
Appeals
- where there has been an appeal, the time will be confirmed in your decision letter.
27 February 2024 – another delay to decisions & payments
- Amigo has still only got up to 88% of decisions issued
- it now hopes to have issued over 95% of decisions by mid-March 2024, with the rest being issued in early April
- Amigo expects to start paying the “in full” refund amounts at the end of February, but these will be done in batches so not everyone will get theirs then
- the payment of the first installment of the “percentage payments” has been put back to April or May with the final installment about 6 months later.
A reminder of who will get some “in full” refunds:
You have to have repaid at least the amount you borrowed.
From that point, you may get a full refund, not at 17%, depending on the date of your complaint/claim:
- you will get a full refund of payments made after 1 December 2021, if you had complained before that date;
- you will get a refund from the date you complained if that was between 1 December 2021 and 26 May 2022;
- you will get a full refund of payments after 26 May 2022, if your first complaint was in the Scheme.
1) only the statutory 8% interest added is taxable. Not the interest paid that is being refunded – that is your own money that you are getting back.
2) the statutory 8% interest added is taxable as savings. BUT everyone has a Tax free savings amount of £1000 for basic rate taxpayers and £500 for higher rate tax payers in a year.
4) in previous administrations & schemes, I don’t recall anyone having tax deducted from the 8% part which is paid out as a percentage, expected to be 17%. If this happens, Amigo will have to inform you of the amount of tax deducted and you may be able to claim some of that back from HMRC.
Previous months updates
January 2024
- on 25 January Amigo admitted it has only sent out 75%
- of decisions. This is only 2% more than on 9 January.
- it says “We anticipated that all responses would be issued by the end of January 2024, however, the remaining work and complexities in assessing and calculating certain claims, especially for some claimants with outstanding loan balances, has taken longer than initially anticipated. Although responses are still being issued, and will continue to be, our intention is to issue all responses by mid-March 2024.”
December 2023
- the Amigo scheme page now says they have issued 71% of decisions
- Amigo has told some people with current loans to stop paying
- decisions for current loans are being sent out but not many so far
- if you have made recent payments, some may be refunded in full. In the decision you are sent, these are being called “set off refunds”. The “total cash claim value” on the decision is the amount that will be paid at a reduced percentage, expected to be about 17%.
- Amigo says it has now issued 45% of decisions
- Amigo has been deleting a lot of loans from all three credit reference agencies
- If your loans have been cleared, this is probably because your claim will be upheld. But this isn’t definite until you get the claim decision.
October 2023
- Amigo has only issued 38% of decisions. It says almost all the rest should be issued by the end of December and they will all be issued by end January
- the process to remove CCJs will continue to March
- Amigo is confident the payout percentage will not be less than 17%
- it is now clear that Amigo not going to pay many borrowers where the loan has been upheld as unaffordable but the guarantor made some payments. This is ethically wrong and entirely unexpected – redress from mis-sold guarantor loans has never been handled like, by Amigo before the Scheme or by the ombudsman. You can appeal but it isn’t clear that this will succeed.
- the best estimate of the percentage payout is still at 17% but this can still change.
- Amigo now says: “We expect that the initial cash payment to customers will be in early 2024. We are unable to confirm the dividend and make interim payments until almost all claims have been decisioned in full, causing the delay from November, as previously expected. The final payment will be delayed until late 2024 (around the time that the business enters liquidation).”
September 2023
- the first rejections for current loans are going out. If this loan has caused you problems, appeal a rejection. Winning an appeal will get your guarantor released, your balance reduced or cleared and your credit record repaired.
August 2023
- the first UPHOLD decisions are at long last being issued
- if only some of your loans have been upheld, look at an appeal. The first person has reported winning an appeal.
- some loans have been sold to Lantern. In most cases these are loans where neither the borrower or the guarantor made a claim.
March 2023
- Amigo has announced it cannot raise the money from shareholders so it will be liquidated
- this Scheme continues in “Fallback Mode” – see Amigo to close & Scheme goes into Fallback for details
- it is now expected that Amigo the first payments may be made in late 2023 and there may be a second, sm
aller payment in 2024.
December 2023
- The deadline for making claims to the Amigo Scheme was 26 November 2022. It is now too late to make a claim.
Contents
Amigo’s Scheme – the background
Amigo’s Scheme of Arrangement is now in operation after it was approved by the court on 23 May 2022.
The Scheme was proposed because Amigo couldn’t afford to carry on paying full refunds to its borrowers and guarantors who were winning affordability complaints.
Amigo had proposed a different Scheme in 2020 that was rejected in 2021. Amigo has now spent nearly a year getting its current Scheme proposed. For more details on the first Scheme, why it was rejected, how the second Scheme is different, and the voting on the second Scheme, see Articles on Amigo Schemes.
In the Scheme, Amigo makes the decision about whether your claim should be upheld. If it is rejected or only upheld for some of your loans, you can appeal this decision to the Independent Scheme Adjudicator. You cannot appeal to the Financial Ombudsman.
Which loans and customers are covered by the Scheme?
All loans made by Amigo before 2021, including those under its previous brand name FLM, are included in the Scheme. For loans that were settled more than seven years ago, Amigo may no longer have the loan details. You can still complain about these older loans but it may be necessary for you to produce evidence about them.
Both borrowers and guarantors could make a claim to the Scheme.
Amigo has started lending again with a pilot scheme under a new brand, Reward Rate. Any complaints about new loans will not be covered by the Scheme and customers will be able to make a complaint about them as normal – first to Amigo and then to the Financial Ombudsman.
The definition of “unaffordable”
A loan is only “affordable” if at the time the loan was given, it was likely that you could repay it on time and still be able to pay your other debts, bills and everyday living expenses.
If paying Amigo left you so short of money you had to borrow more or you got behind with bills then it was “unaffordable”. This often happened with Amigo loans as many borrowers were desperate to try to protect their guarantor.
Amigo should have checked that a loan would be affordable for both the borrower and the guarantor. For a guarantor, this would mean that they could make all the repayments out of their income and still be able to pay their own debts, bills and living costs. A guarantor who had a house may not have had enough spare income to repay the loan so it was unaffordable.
But Amigo’s affordability checks were very poor. That’s why they were losing 88% of cases at the Financial Ombudsman.
Amigo often offered top up loans and the checks on these weren’t any better, even though people were getting deeper into debt. Repaying the first Amigo loan may have left you in financial difficulty, so a top up loan may have appeared to be a good option, even though it made your debt situation worse.
What will you get if you win the claim?
When Amigo upholds a claim, it will tell you what the “redress” calculated is. You will only get paid a percentage of this, not the full amount (unless some of your payments are very recent).
Redress for a borrower who has a claim upheld
For a borrower with a repaid loan, redress will be:
- a refund of the interest they paid on the loan;
- plus 8% statutory interest;
- Amigo is making a deduction if your guarantor made any payments. If your guarantor has also made a claim, they should be refunded. If they haven’t then no one is being refunded for these amounts. You can appeal this decision, which is ethically very wrong, but it is not clear it you will win.
For a borrower with a current loan, redress will be:
- a refund of any interest if they have repaid more than the amount borrowed plus 8% statutory interest, otherwise, their balance will be reduced;
- their guarantor will be released;
- if there is still a balance after the reduction, you can make a lower affordable payment arrangement to clear it.
In addition, any problems on your credit record will be removed for loans that are upheld. This will include having any CCJ removed (the legal term is set aside) and removing the default showing on the debt with Intrum if your debt was sold.
Redress for a guarantor who has a claim upheld
A guarantor’s redress is the full amount they have paid to a loan, not just the interest, plus 8% statutory interest. And if there is a current loan, they will be released as guarantor.
Previously it had been expected that guarantors would be refunded if a borrower won a claim that the loan was unaffordable even if the guarantor had not made a claim. It has now become clear that Amigo is reducing the payments to the borrower and refusing to pay the guarantor where the guarantor has not claimed.
8% statutory interest
This number is NOT 8% of the interest you should get refunded.
It is 8% per year from the time of the repayments until 28 February 2022. So if your loan was settled several years before 2022, you may get 20% or more added.
Don’t ask me why February 2022… that is what it says in the full Explanatory Statement. In many ways this doesn’t matter – if the date was later, the total amount of refunds calculated would be larger so the percentage paid out in the end would be lower.
BUT you will only get a % of this redress
That redress figure may look great. But you are not going to be paid that amount, just a percentage of it.
Amigo originally estimated that at 41p in the £. If your full redress is say £3,000 that would have meant you will be paid 41% of that – £1,230. But a lot more people made claims than Amigo expected – 210,000. That has reduced the amount you might get to 20p in the £.
And with the March 2023 announcement that Amigo has failed to raise the money from shareholders, there will be less cash to be refunded. The amount is now expected to be about 17p in the £.
So from a calculated redress of £3,000 you may get £510.
Exception – full refund for “continuing payments”
Some customers will get a “full refund” of certain payments they made to the loan provided that they have repaid at least the amount they borrowed and their claim is uphed. These customers are due a full refund of payments:
- from 1 December 2021, if they had complained on or before that date;
- from the date they complained, if that was between 1 December 2021 and 26 May 2022; or
- from 26 May 2022, if they did not complain before the Scheme started.
This is set out in full in 6.33 of the Explanatory Statement.
The purpose of this is so that if your claim results in a refund, payments you made after the relevant date will be refunded in full provided that you have repaid more than the amount you borrowed. For a guarantor getting a refund, the “repaid more than you borrowed” test does not apply.
Here are three borrower examples:
- a borrower who made a complaint in March 2021 (so before 1 December 2021) and who at 1 December 2021 had already paid back more than they had borrowed will get a full refund of payments they made after 1 December 2021
- a borrower who made a complaint in March 2022 (so after 1 December 2021) and who in March 2022 had already paid back more than they had borrowed will get a full refund of payments they made after that date
- a borrower who made a claim to the Scheme in September 2022 (so after the Scheme had started) who by 26 May 2022 had already paid back more than they had borrowed, will get a full refund of payments they made after 26 May 2022.
What happens after you make a claim
The deadline for making a claim has now passed
Is your complaint upheld?
The first stage in getting a refund is for Amigo to decide whether to uphold your complaint. The steps in doing this are
- Amigo will decide which loans are “unaffordable”. They will use the details of your loans and other information they have in their records, plus any evidence you have sent in.
- Amigo will then calculate the redress on the unaffordable loans.
- You will be told which loans were unaffordable and what the total redress is. If you think more loans were unaffordable, you can appeal this.
Keep an eye on your claim
When you have made a claim, you may not hear anything for months.
Amigo may send you an email when they have decided your claim saying you can log in to the portal and see the result.
But it is a good idea to check the portal every month or so even if you haven’t had an email. They may have sent you an email that you missed as it went into spam.
You can also look at the comments below this article and see if other people have heard anything.
Working out how much people will get
When Amigo have decided all the claims and appeals they can then add up the total amount of redress. They then divide that amount by the money they have to distribute – this gives the “pence in the £” amount they will pay.
This will probably be done in two stages. There will be a first, larger payment possibly in the first quarter of 2024. And then a small payment in 2024 to pay out the remaining money.
Should you appeal a decision?
If your claim has been rejected or only partially upheld With some loans upheld and some rejected – you can appeal this decision.
You are the one who knows how much trouble the Amigo loan caused you.
The first Amigo decision will probably have been an automated “Computer says Yes/No” decision – they have had 200,000 complaints to decide. But in the appeal process, this will be looked at by a human.
You should also appeal if you don’t agree with the numbers given. If you think you had more loans than were listed. If you don’t know why the Total Cash Claim Value is less than the other numbers suggest.
Get more loans upheld
Getting more loans upheld will:
- increase the cash you are paid, or reduce the balance you owe
- if you get earlier loans upheld, the extra 8% added amount will also increase
- if your current loan is upheld, your guarantor will be released.
If you have bank statements or any other evidence about your finances at the time you took a loan, include that with your appeal. These will help your case.
Credit records
Getting more loans upheld will also clean any problems on them from your credit record.
If your credit report is wrong at the moment eg because Amigo did not add a default when you stopped paying, then it is important that in your appeal you say why the loan should be upheld. BUT ALSO say that if the loan is not upheld, you want a default date added to your credit record back in month/year “in accordance with the SCOR reporting rules”. Defaults drop off your credit record after 6 years – a non-defaulted debt will stay on your credit record for 6 years after the date it is settled.
HOW TO APPEAL
If you think the numbers are wrong, say why.
If you think more loans should be upheld: Get bank statement for 3 months before the loan started – these are the best evidence that a loan is unaffordable. You can get these going back at least 6 years even from closed accounts. Don’t assume you won’t be able to, ask for these immediately from your bank. If the loans are more than 6 years old and the bank account has been closed, look at what other evidence you have – payslips, P60s, tax returns, emails about missed payments or CCJs etc
Download & send a current credit report, eg TransUnions’ Statutory Report. If you have had loans deleted from your record because of winning other affordability complaints, send Amigo evidence about these.
Explain about recent problems before the loan application – only on benefits, health issues, gambling, economic abuse, recent missed payments, payments arrangements, DMP etc
And if you were topping up a previous loan, explain how that loan made your situation worse.
If all of your loans have been upheld and the numbers look right
You have no reason to appeal this decision just because you will only be paid a percentage of this. This would not get you any further money.
You should log in to the portal, accept the decision and give your bank account details.
Sale of loans to Lantern
In August and September 2023 some people have been notified that their loan has been sold to Lantern, a debt collector. The sale of loans to a debt collector is perfectly legal and you can’t challenge this.
In most cases these were loans where no one had made a claim to the scheme. If your loan has been sold and you had made a claim to the Scheme which has not been assessed, ask Amigo why.
The loans are being sold as guarantor loans – the guarantor has not been released and if the borrower doesn’t make an arrangement to pay the guarantor will probably be asked to.
We don’t yet know how “reasonable” Lantern will be in accepting low arrangements to pay. If you or your guarantor has a problem, leave a comment below here but also talk to a good debt adviser – your local Citizens Advice or if you prefer the phone National Debtline on 0808 808 4000.
Any questions or comments?
Here are Amigo’s contact details.
Or you can put them in the comments below if you would like to know what other customers are doing.
G says
Hi, my FRL dated 05/01/24 detailed the following:
Appendices
| Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved |
| ZGD7937361 | £5,500.00 | 36 | 16/03/2012 |
| 11727684 | £5,000.00 | 60 | 02/05/2013 |
| 24257492 | £7,000.00 | 60 | 27/03/2015 |
| 31641999 | £7,500.00 | 60 | 27/10/2016 |
| 38652614 | £9,000.00 | 60 | 27/10/2017 |
| 41002144 | £10,000.00 | 60 | 22/03/2018 |
| Interest Refund | Fee Refund | Reinstated Interest | Total Borrower Refund |
| £28,431.30 | £500.00 | £0.00 | £28,931.30 |
| Cash Claim Value | £24,978.80 |
| 8% Compensation | £8,991.72 |
| Total Cash Claim Value | £33,970.52 |
| Refund Type | Refund Amount |
| Payments made after Scheme Effective Date (1) | £3,952.50 |
| Payments made before Scheme Effective Date (2) | £0.00 |
| 8% Compensation on payments made after Scheme Effective Date (3) | £354.06 |
| 8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) | £70.81 |
| Total Refund Value (1+2+3 minus 4) | £4,235.75 |
Am I right to assume that I’ll get the £4,235.75 by the end of March (going by their timetable), and a percentage of the rest at a later date?
Sara (Debt Camel) says
from those figures it looks as though you did not get a balance written off?
If that is the case then according to their timetable yesterday, then the £4235 should be paid by the end of the month. But don’t make firm plans until the money is in your account!
G says
Thanks Sara, all my loans were paid in full so nothing to be written off. I suppose I’ll just wait and see if I get anything by end of March.
Natasha says
My balance shows as settled on my credit score and since then my credit score has made significant improvements. I’ve been able to get a phone and a car in my own name for the first time in my life. My guarantor, who has never made a payment for me, had also been told she is released. I know these are all positive signs BUT, I will not believe it until I see that settlement letter with the words “upheld”. I am utterly disgusted with yesterday’s update. I cannot believe what they are doing to us. I raised my complaint via resolver on 23/12/2020 – still waiting on a response. I have now scheduled emails to them for every single day with an updated tally how how many days it’s been since I complained and asked for an update. It won’t get me any further, and it is childish, but it makes me feel better knowing I am harassing them with daily emails the same way they harassed me daily for years.
Louisa says
I’m here for this level of pettiness 😂 I hope we get our responses soon. I’ve noticed one of my closed loans has gone off my credit file, the first one I took out so I’m hoping that’s a good sign 🤞🏼
A says
Hi Sara, I received my email with outcome in January with a refund of 8,000 and a percentage of about 800. I had an outstanding amount 750, which Amigo stated will be paid off. Does this mean that I may possibly be lucky to receive the refund by end of march? Or does it have to go through a process? Taking note that Amigo confirmed my refund amount and percentage.
Thanks
Sara (Debt Camel) says
I suspect you will be in the later group, but Amigo haven’t yet clarified what their definition of “live loan” is
Bobby Jones says
Has anyone heard their outcome whose loan was sold to Intrum?Do you think they are leaving our outcomes to the very,very end?n
Lisa Gallagher says
I was a guarantor on a loan that was sold to Intrum, the borrower never paid a thing towards the loan and it was completely unaffordable for me so it had to pay it via Step Change and I’ve still not had an outcome.
Bobby Jones says
Hi Lisa I was in the same predicament as you I hope and pray we hear soon and our nightmare ends.My repayments to Intrum stand at at £20 a month I keep on ignoring there yearly review emails and text messages.
Mark says
Hi Lisa and Bobby,
My loan was also sold to intrum and also went through step change. When I had paid the interest off it went back to amigo… and then I was paying amigo through step change. I’m still waiting as well so I’m guessing ours are the more complicated ones.
Bobby Jones says
Hi Mark fingers crossed our outcomes will come soon.
Josh says
I had my decision in December but I check back here all the time to see what’s going on and I’m always surprised how they manage to miss their target.
Quite impressive at this point – time must feel like it’s dragging for that 9%.
Frank says
Your not wrong josh
My guarantor had theirs upheld in Dec. However I am still waiting.
Paul walklett says
Hi Sara,
Not sure if u get much of this but thank you for all your advise and help with all this nonsense that’s going on. Your knowledge has been vital to a lot of people and I’m not sure you’ve ever been given the thanks you deserve. I haven’t got my response yet but I would be honoured, if I get any money back, to give you some for everything you have done on the web page
Sara (Debt Camel) says
A small donation to your local Citizens Advce would be lovely.
Maureen Walton says
Would it not have been easier to refund the total refunds not redress payments as and when a decision was reached. They now have to go through all the claims due a refund in order to release the money doesn’t that double up the work involved.
Sara (Debt Camel) says
There isn’t much point in talking about how the Amigo process could have been more efficient…
Darren smith says
Hello everyone your advice has kept me going since receiving my outcome on 7/12/23 but that’s all I heard from them.Im lucky enough to have paid mine off last may .But my claim has been upheld so waiting on refund and divvy payments.But it’s drove up the wall all the messing about they’ve done.But had a thought yesterday with Easter early this year and refund payments to be made by end of this month this means technically they have based on working a mon – Fri which they do,they only have 9 working days left to payout as 29th March is the start of Easter hols/bank holiday same goes for 1/4/24 and as closing down hardly think they are going to pay staff enhanced hours to meet a deadline.Ive also been reading other blogs that people who accepted later than myself for example and been paid out.I fired up and banged out a few emails out complaining of unfair selection and asked for reason(s) behind this.Yet to receive a reply so ended all my emails with looking forward to your reply or better still my payment release email..Bet I’m the last to paid out now as I’ve rattled the cage. Kind regard Darren
Sara (Debt Camel) says
Bet your email won’t make any difference at all. Some poor person has the job of sending replies to this sort of query and they have no control over when people get paid.
Terry Hyson says
This is what I have received from
Do we know by there timeliness when it will be paid?
Is it now part of the payments put back until May/June
Thank you as always
Terry
Thank you for your email.
What’s due to you is the: Total Cash Claim Value of £12,845.62 – which is subject to the ‘pence in the pound’ dividend payment. The current estimate for this is 17p for every £1 quoted. The dividend payment will be confirmed at a later date and cannot be negotiated. It will be paid in two instalments; the first one we expect to process around the April/May time and the second one will be 6-9 months later, around the time we enter liquidation. I’m sorry I can’t confirm an exact amount at this time, but as an example, if the Total Cash Claim Value was quoted as £1000, you are likely to receive a final payment of £170.
We don’t have any information on how much the first instalments will be or what date to expect it but this will be communicated closer to the time. It’s a manual process so we ask customer’s to be patient with us during this time.
As soon as there is an update on your individual payment, you will be the first to know. We unfortunately don’t have any visibility over this and are therefore unable to provide any specific updates on your claim.
I hope this helps!
Kind regards,
Louise
Scheme Support Team
Amigo Loans
Sara (Debt Camel) says
Yes, April/May (although the latest scheme update gave them wiggle room to make some in June)
Peter says
Hi, I’m trying to work out how much I’ll get back but I’m getting confused. Is there two amounts? For example the pence to the pound refund In relation to the ‘ Total Cash Claim Value’ box and another in relation to the ‘ Total Refund Value (1+2+3 minus 4)’ box? Just trying to work out what I’m getting and not anticipating the wrong amount. Thanks
Sara (Debt Camel) says
I wish Amigo’s communications were clearer!
the pence to the pound refund In relation to the ‘ Total Cash Claim Value’ box
yes, it is currently expected you will get about 17% of the Total Cash Claim Value
and another in relation to the ‘ Total Refund Value (1+2+3 minus 4)’ box?
that is an “in full” refund – you get it all, not a percentage
Peter says
Thanks so much! You’ve probably had to clarify that so many times and I thought that was the case, just wanted to make 100% sure.
Mine read as
Total Cash Claim Value £2,489.31
(Roughly 423)
And
Total Refund Value (1+2+3 minus 4) £1,377.24
Which would help massively
Darren smith says
Thanks for your reply Sarah, all I can say is we are nearly all there folks if my calculations are right we are in 91% so only another 9% and the end is near.My refund value alone is £5762 just what I need to get what I want for the house with a few spare pennies for myself.Happily give up my divvy payment if it meant someone else would benefit from it.Im fortunate enough to be finically sorted these days.But there are people out there relying on these payments to sort themselves out or put food on table,shoes and clothes on their bairns.But same as me struggled at times or all the time to repay these loans.Its also funny now they owe us their stalling.I remembered if I’d missed a payment they’d set the hounds free contacting myself and my guarantor at the same time depending payment.Tables are finally turning and I’ve certainly learned my lesson. Just remember everyone we are nearly there.!!.Now we are rinsing them and their nearly ready to put out on the line Kind regards Darren
No name says
Count yourself lucky you have received your outcome. Many of us haven’t yet so think of us
Louisa says
I’m fed up of checking every day only to see the same ‘you have not yet received an frl” 🙄 I’m not even going to get much back IF they uphold my claim I just want it over and done with now.
L72 says
Same here!! Makes me laugh there was no order of how they dealt with claims but have a selection of complex ones till last? Honestly just send me my letter so I can relax!!
Louisa says
T Mines not complex they already upheld my first 2 loans back in feb 2021 and the fos upheld my 3rd when I rejected their decision to only uphold the first 2 so they can stuff their “complex claims” 🤣
Samantha Ramage says
Hi, could you help please? I’ve no idea when I should be getting paid. Am I classed as this month sometime (hopefully) or April may?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
37940160 £500.00 12 08/09/2017
39761265 £2,250.00 36 02/01/2018
41168367 £3,250.00 36 04/04/2018
42400432 £5,000.00 60 21/06/2018
44754555 £7,500.00 36 04/12/2018
49100993 £9,750.00 60 12/07/2019
Guarantor Total Payments £11,208.25
8% Compensation £1,678.43
Total Cash Claim Value £12,886.68
Sara (Debt Camel) says
The only payments this month are “in full” payments. From what you said before, none of your payments qualify for that.
You will be getting a percentage, probably about 17%, of the Total Cash Claim Value. Amigo hopes to pay the first instalment of this will been in April/May.
Ryan Moore says
Why are they being allowed by the FCA and FOS to keep delaying and delaying. Its not acceptable. I Made my complaint on 13.12.2020 and still we wait and still the fob people off with lame pathetic excuses and lies. The adjudicator overtuned my complaint at the begining of Feb and still we have to wait for them to get their act together. Its becoming a joke
Sara (Debt Camel) says
FOS has no right to say anything – they cant take complaints about Schemes and have no function apart from dealing with complaints.
the FCA – well in theory Amigo are authorised. But the FCA may be taking the practical view that nothing they do will speed things up and may only delay them… I am sorry but the problem at Amigo results i think from a combination of very poor planning and deciding to handle complaints in a very complex way. Not something that is easily resolved now when they have probably let too many IT and customer service staff go – it isnt easy or quick to try to recruit and bring new people up to speed.
Fran says
Hi,
I received my response on the 5th of February, so not before the 1st 🙄 I’m due a full refund, do you think it’s still possible to get my money this month or is it completely out of the question now?
Sara (Debt Camel) says
Anything could happen in theory. But that isn’t what their new timetable says you will be paid.
You should not base any plans on being paid this month, it seems very unlikely.
Aden says
Hi
It is now mid march and I have not had anything from Amigo since I had the letter from the adjudicator to say my complaint was upheld.
I not sure there is a lot I can do to chase this up.
Lamar says
Has anyone who is due a full refund received a different or been quoted a different amount that was stated on their final decision letter?
I just called amigo regarding my case and asked to confirm my full refund amount, and they quoted nearly £100 more than what the letter stated.
Sara (Debt Camel) says
oh!
In that case you need a new breakdown, so that you know how much deduction for tax on the 8% you can claim back from HMRC
Osei says
Is it right for Amigo Loans to use their Adjudicators? This is what l have received from:
“Amigo will refer your claim to the Scheme Adjudicator who will review your claim and decide whether they agree with Amigo’s decision or not. They will not write to you personally. They will forward their final outcome to Amigo who are instructed to pass their outcome on to you. This is what was agreed through the High Court when the Scheme was sanctioned in 2022.”
I think Amigo Loans is trying to cut corners which is illegal.
Please advise.
Sara (Debt Camel) says
That sounds pretty standard to me for a Scheme
Kirsty says
I’ve finally received my payment email today at 3pm. I accepted the decision on 7th December. Keep going people, it seems to be actually happening!
Graeme mcintyre says
Right, so am I right in saying that 17p in the pound people who had their response before February are receiving this payment at end of March? Not late April may as previously stated? Any advice welcome!
Sara (Debt Camel) says
No. The only people getting paid at the moment at the “in full” refunds. The “percentage” refunds are expected to get paid in 2 instalments, the first one being April?may?June.