UPDATES
Mid August 2024
And the deadlines have slipped yet again. There are just under 4,000 people still waiting for a decision, or a revised decision after winning an appeal, or a recalculation.
There are also now (21 August), about 8,000 people where Amigo has wrong or missing bank details:
- this includes £1.7m of redress to be paid “in full”, and
- £2.4m of Initial Scheme Payments.
Most of these are people with loans taken out longer ago, so their contact details may be out of date too. And some people are worried the emails or texts they are getting about updating their bank details are a scam.
If you haven’t already been paid, check and double check the bank account details on your Portal Account. If you can’t login to the portal, call Amigo on 01202 629798 and Amigo will reset your portal login.
If these amounts are not paid by the time the second payment is made later in the year, you can’t get paid afterwards as all the money will have been distributed.
24 June 2024 – my summary of the situation:
- People who have not yet had a first decision email (FRL) If you haven’t had a recent communications from Amigo apologising for the delay you should contact Amigo urgently.
- People who have escalated a decision No-one has yet had a revised decision after winning an appeal.
- People whose defaulted loans have been sold to Intrum before 2022 It still isn’t clear whether cash refunds will be paid by Intrum or Amigo.
- People who are waiting for a “full refund” to be paid Some dates seem to have not been paid. Some people are still waiting for recalculations of the 8% interest and any recent payments.
- People who are waiting for the first percentage payment to be paid Some dates seem to have not been paid here as well. Some recalculations seem to be being done – I don’t know why unless Amigo messed up the numbers the first time!
- People who do not understand what they are going to get
If you don’t understand your decision email (FRL) post a screenshot of it in the Facebook group. - People who have been paid “the wrong amount”
If you have been paid “too much” or had 2 payments, it may well be that you have had a full refund and a first percentage payment.
If you think you have been paid too little, post a screenshot of your decision email in the Facebook group or phone Amigo up. A few people have been paid too little and got this speedily corrected. - People who have been paid the first percentage payment (and the full refund if relevant) and are now waiting for the second one
Enjoy the summer. See you in November.
29 May 2024 – first scheme payment will be 12.5p in the £
- Amigo says “substantially all” claims have been determined and adjudicated – 99.2%
- it knows enough to be sure it can pay 12.5p in the £ so that is what it has set the Initial Scheme Payment Percentage at.
- you will get 12.5% of the amount on your Amigo email decision labelled Total Cash Claim Value or Scheme Cash Claim
- you will be paid this first amount within the next 30 days, or within 30 days of receiving an accepted Scheme Outcome, whichever is later. So the large majority of people should get this in June 2024
- Amigo says it will prioritise payments based on correct bank details being provided and age of the Outcome Letter issued (oldest to newest).
- Amigo is still saying at least 17% for the total amount to be paid, so that means 4.5p in the £ will be paid late in the year
10 April 2024 – 94% of decisions issued
- nearly a month late, Amigo still hasn’t quite reached the target of 95% of decisions it is said it would achieve by mid March
- it now expects to have issued over 98% decisions by the end of April, with the rest coming in early May
14th March 2024 – Amigo gives a clearer payment timetable
Decisions:
- Amigo has now crawled up to 91% of decisions issued.
- 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…
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 may 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 has 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 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.
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.
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 upheld. 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
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 Facebook group – see the bottom of this article.
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 made all the payments but Amigo seems to think your guarantor made some, challenge this.
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 post queries and comments on the Amigo Loans Creditor Group in Facebook: https://www.facebook.com/groups/4590874374272947
That allows you to post a screenshot of your decision if you don’t understand it.
You can post anonymously in that group. If you are setting up a Facebook account to do this, add a profile picture – it means your posts and comments are more likely to be approved quickly.
Do not send me a message instead – I won’t reply.
Catherine says
Thankyou so much
Charlene says
I got a response today but they have put it as upheld and said I’m not entitled to a penny even tho it is saying 4300 odd seriously says one thing and then at the bottom and on the phone says a different thing
Sara (Debt Camel) says
Hi Charlene, has your guarantor made any payments?
Charlene says
No she wouldn’t make one as I paid it off but she did pay a chunk of for me and I paid her back as the repayments was to much so we got a lower interest rate loan and she used her bank to pay it for me I explained this when I put a claim in
Sara (Debt Camel) says
This is why Amigo has said you will get nothing. I don’t think this is reasonable, but I am not sure what can be done about it.
Charlene says
This is part of the letter Claim Outcome: Upheld Total Cash Claim Value = No Redress Due
and when I log in it says this
Please note – as you have chosen to escalate at least one of your Agreements, as you do not agree with the outcome provided, your redress payments have been placed on hold whilst this is being investigated. This means if you have more than one loan, we will hold your redress, until we can calculate this in full at the same time.
Summary Agreement Claim Values
This is not the amount you will receive.
Interest refund £4,398.65
Fee refund £0.00
Reinstated interest £0.00
8% compensation £0.00
Claim value £4,398.65
Cash claim value £0.00
Total cash claim value £0.00
This is not the amount you will receive.
Cash claim value = Claim value minus any payments to the loan that you have not made.
Total cash claim value = Cash claim value +8% interest as compensation.
An explanation of your Claim Value is provided within your Final Response. Further information on what the Summary Agreement Claim Values mean can be found in our FAQs here
Please select the reason why you do not accept your Claim outcome, and wish for this to be escalated
But did have the amount of each loans and refund
Charlene bell says
Does anyone understand above
Morag says
I had the same answer, gave amigo a call and they said it should have been the guarantor that made the application not me. It’s because my guarantor paid off a chunk of the loan
Rhys says
I’m genuinely bored and tired of waiting – what a shambles this whole process has been!!
Bobby Jones says
Hi Sara I have just been successful in gaining access to my friends portal account .(I am acting on his behalf )As my friend made a complaint against Amigo .Having gained access a message appeared stating his loan as guarantor has been sold to Intrum and for my friend to contact them.How will I know if my friends claim has been upheld ? Will Intrum know ? This has totally thrown me of track ,I hope you can help me .
Sara (Debt Camel) says
are you sure this was sold to Intrum – is there a date saying when it was sold?
Amigo used to see loans to Intrum but hasn’t for a while and the most recent sale was to Lantern.
do you know if the borrower has made a claim?
Bobby Jones says
Hi Sara Thanks for replying ,he started making payments to Intrum in 2021.He was left high and dry by the borrower and lost all contact with him so I don’t think he made a claim.When I first went onto the portal to send his bank statements over last year there was no mention at all about Intrum .And that they informed me that his complaint had been lodged.According to his statement he was repaying at £100 a month which I have know got reduced to £20 a month .
Sara (Debt Camel) says
So Amigo says “Customer creditors whose loans were sold to Intrum will not be treated any differently under the Schemes compared to other Customer Creditors… if a Customer Creditor whose loan was sold to Intrum makes a Scheme Claim and it is accepted, Amigo will repurchase it from Intrum and it will be treated the same as other Amigo loans.”
So he should be informed by Amigo in the same way whether his loan has been upheld.
I am not sure why he is being told to contact Intrum. I suggest you email amigoscheme@amigoloans.co.uk and ask.
Mrs Valerie says
Just checking I’m still on the mailing list
Tom says
Same c**p different day – reply to asking for an update, key word is MOST, meaning no we will still be dragging our feet.
We’re in the process of sending customers their claim outcome letters via email.
Whilst we initially estimated that we would have sent them all in the first half of 2023, due to receiving more claims than anticipated, we expect to have sent *most* letters by the end of October 2023.
While we don’t have an update for you just yet, please keep an eye on your emails as we continue to work hard to issue outcomes as quickly as possible.
Please note that if your claim is upheld, we anticipate making the first interim redress payments in late 2023 (from November) and the final payment will be delayed until approximately late 2024 (around the time that the business enters liquidation).
AmigoAmigoYeeHa says
As vague as ever.
Within the FAQs on the scheme website it states
“Where claims are not agreed and are referred to the Scheme Adjudicator we now estimate that they will be determined between August and November 2023”
If they expect “most” emails being sent end of October this doesn’t not give a person enough time to seek help and submit anything to the adjudicator, surely this is an intentional practice to prevent people challenging the rejections?
Sara (Debt Camel) says
No there will still be time to appeal
AmigoAmigoYeeHa says
just had confirmation from Amigo – 30days from Date of rejection notification NOT receipt of notification.
For those who are unsure as to what to say in your appeal – here is a nice little catch all comment that has worked for me in the past when I’ve had to appeal with other lenders:
Rejection due to them deeming it was affordable at the time — “It is your responsibility as a lender to verify the information is correct, your company failed to do the relevant checks with ALL 3 Credit Reporting agencies and by requesting proof of bank statements (at least 3mths worth). This would have shown all outgoings and all credit accounts.
The application in itself to yourselves would have indicated that I was unable to obtain credit from a main high street lender due to finances and reporting.
FCA findings have already issued statements that checks were not correctly carried out.
If you believe that this is still to be the case, please provide under the GDPR all information Amigo have obtained relating to my account, which will confirm your findings.”
Majority of lenders will not proceed with this request as they either know they cant obtain this OR because they are about to wound up, and cant spare the resources or case lingering on further.
Sara (Debt Camel) says
I don’t encourage people to think that wording will work in this or an other Scheme or arrangement. What do you intend to do that they will care about if they simply reject the appeal?
Also there is no regulatory obligation on any lender to check information with all 3 CRAs or to request 3 months worth of bank statements. .
Anon says
Hi,
Would it be safe to assume that the current decisions being made are favouring those who are owed redress?
From what I have seen from reading through the comments here, it seems that the majority (if not all) of the received decisions thus far tend to be for those owed redress.
I do not think I am owed any redress, if I am it will more than likely be a small amount. However, I am more interested in the removal of the late payment markers being filed every month and having the remaining balance wiped. I recently exercised equitable set off and have been checking my emails every day for a decision but am yet to receive anything.
Surely it would seem more efficient to notify all those who are entitled to having their balances wiped and late payments removed so that they can focus on those who are owed money, especially since they are not planning on making the final payments until late 2024. Instead it seems one group is taking precedent over others.
Sara (Debt Camel) says
No not safe.
AmigoAmigoYeeHa says
“Also there is no regulatory obligation on any lender to check information with all 3 CRAs or to request 3 months worth of bank statements. .”
No regulatory but Amigo own Policies.
As outlined in FCA’s findings:
Inline with CONC 5.2A7R to base the credit worthiness, amigo obtained details from CRAs but used this to determine amounts paid to credit items.
In addition to this under their own Lending Policy for budgeting, the expenditure was split into to two categories Credit File expenses and household outgoings – the Credit File expenses were pre-populated from the CRA checks. However if an account was marked as defaulted/arrears Amigo calculated the repayment amount from the budget and this provided the amount expected to be paid and not the amount the customer would pay.
Bank statements: Example FCA used (Annex B 1.38) – it verified a borrowers income with a bank statement which showed one weekly payment from employer. However Amigo (and FLM) own Policy that was in place at the time was required to obtain bank statements over a period of three months.
Sara (Debt Camel) says
That does not say Amigo checked all three credit reference agencies.
And what do you intend to do if Amigo rejects your appeal? And why would Amigo care about any action you take, as the company will cease to exist at some point next year?
Ed says
I am still awaiting my outcome and inel equitable set off. Amigo continuously report missed payments. However all 3 of my credit reports show the status of my amigo loan has improved as it has been reported as unclassified this month. Has anyone else had this, or are amigo finally being fair and not reporting as missed payments. Or, just messing about as usual!!!
Emma says
I am in equitable set off, awaiting Amigo’s decision on my claim and they have reported a missed payment for this month.
Yt says
Absolute joke of a company not only is it still showing on my credit report but they’ve reported a missed payment for September they don’t have a clue what they’re doing
YT says
I’ve just been notified by clearscore that my amigo loan will be removed tomorrow I’m in eso but heard nothing from amigo
Robert Smith says
Still not received any update on the outcome of my complaint in mis selling the loan even though on website it says that emails will be sent out in September and first payment will be made in this month if successful. Is anyone else in the same position and what are the next steps in getting an outcome.
Kate says
I have still not heard anything either
Colin says
Amigo have now updated website to say interim payments will begin in November
Kristina says
I haven’t even had a response yet.
Syed says
Same here… I’m still waiting too
Cj says
I’ve just had update on credit file saying lantern being added as an account buy dont know why
Sara (Debt Camel) says
Do you have a current Amigo loan? Have you made a claim to the scheme?
Ci says
Yes I do and have made complaint currant loan still paying
Sara (Debt Camel) says
I suggest you ask Amigo why they have sold your current loan before making a decision on your claim.
Rs says
This has happened to me this week too.
Si says
Hi Sara
I’ve had a terrible experience (mostly down to their communication and customer service) and have finally been offered equitable set off (im a Guarantor) having never been contacted or had it offered previously despite sending them tens of emails and being dismissed.
I’ve asked them this but nobody seems capable of answering. In my position is there any draw back to me accepting ESO? Seems a bit weird to offer it to me and not the loan customer but that’s not my problem. I just want to know that if it’s upheld (which it shouldn’t be but you never know), is there any downside at all for me? Or am I just being too suspicious of them?
Sara (Debt Camel) says
I don’t think there are any downsides for a guarantor. This debt isn’t on your credit record.
Victoria says
I have just checked my claim outcome and it states it is upheld. What exactly does this mean? Thank you.
Sara (Debt Camel) says
How many loans did you have? Have they all been upheld? Do you have a current loan? What does it say your total cash claim value is?
Victoria says
Only 1 loan all paid off now. Cash claim value was around £1500
Sara (Debt Camel) says
Then you will get a percentage of that 1500. The most recent guess is 17% but it could change a lot.
Victoria says
Nothing then really is it. Absolute joke of a company. Thank you for your replies.
Cj says
So i asked amigo why they have sold my loan before answering my claim and this is whay they
sent to me . Thanks for getting in touch
As part of the winding down of the business,
we are required to pass some of the accounts
we hold to a third-party as we will be closed
before your agreement is finished. This is
separate to your Scheme claim which we are
still working and I hope we are able to issue
your outcome to you promptly.
Ne’re in the process of sending customers
their claim outcome letters via email. Whilst
we initially estimated that we would have sent
them all in the first half of 2023, due to
receiving more claims than anticipated, we
expect to have sent most letters by the end of
October 2023.
Nhile we don’t have an update for you just yet
please keep an eye on your emails as we
continue to work hard to issue outcomes as
quickly as possible.
Please note that if your claim is upheld, we
anticipate making the first interim redress
payments in late 2023 (from November) and
the final payment will be delayed until
approximately late 2024 (around the time
Rs says
Can I ask how you made contact please? This has happened to me this week.
Cj says
I sent an email to them
Tom W says
Good evening,
What does this mean? All my loans have been upheld.
Claim value
£16,457.45
Cash claim value
£0.00
Total cash claim value
£0.00
Thank you
Sara (Debt Camel) says
Did your guarantor make a lot of payments?
If this is the reason, I don’t think it’s right. I am hoping Amigo will look again at it.
If your guarantor didn’t make a lot of payments, ask Amigo why the cash claim value is zero.
Tom W says
I made the monthly payments, however my Guarantor came into some money and paid off the remaining large chunk for me. Shall I escalate?
Sara (Debt Camel) says
Yes, say you dispute it.
Lowri says
Nope, im a guarantor and its on my credit record. CCJ for 5 years now. And ive begged and begged them to remove it, the person that took the loan hid letters and didnt tell me he wasnt paying. Went to court without me knowing.
I want to get make an offer next week on a house but cant because this ccj is impacting my credit so much. On my credit file it shows a preview of my credit over the next year and november 2024 (the month it will be removed, 6 years) its shoots up to very good credit.
Sara (Debt Camel) says
Ok so the debt itself isn’t in your credit record, but the CCJ is. Equitable set off shouldn’t make any difference to that.
If you are Making payments to a CCJ, your situation for a mortgage doesn’t improve much when the CCJ drops off your record as the lender will still see the CCJ payments. Mortgage lenders care about problem debts, including a CCJ much more thZn a credit score number.
If your claim is upheld, the CCJ should be removed. If it isn’t, then you will need to settle this debt befor getting a mortgage.
Lowri says
But wont the debt be cleared in my name as im requesting to be removed as the guarantor? I was unemployed at the time they made me a guarantor, and my previous job was 2k less than the entire loan.
/ also if the ccj is removed how will mortgage know about the loan since im not the one who took it out?
Im so confused. I wish amigo would just respond. My first complaint with them was over 4 years ago.
Sara (Debt Camel) says
If your claim is upheld ll should be fine. The CCJ should be removed and you should Lao get some refund..
The problems come if your claim is not upheld. In that case the CCJ dropping off your credit record won’t help much as any mortgage lender will still see the payments you are making to it on your bank statement. Fingers crossed your claim is upheld!
Gary says
Can you please help me understand what im getting i have had my claim upheld the mail say TOTAL CASH CLIAM VALUE IS. £2303.13 is this what i will be getting thanks for any help
Sara (Debt Camel) says
No, you will only get a percentage of that. It isn’t known what the percentage will be, the last estimate was 17% but that was a while ago so it could change a lot.
17% would be about £290 refunded.
Lea says
Hi,
I have a question I had a £4000 loan topped up with £4250, both loans were paid in full final payment was back in 2019, when I was struggling to make repayments I would use my grandads credit card then I would pay him back, he was not my guarantor, are these payments likely to be removed from my redress if my loans are upheld? My grandad passed away earlier this year so I’m not able to access any proof of these payments. Thanks
Sara (Debt Camel) says
No they shouldn’t be.
Lea says
Thank you, hopefully they don’t, they told me yesterday another 3 month for all responses to be sent out.
Tom W says
I am due back nothing because of this exact reasoning. Because a family member paid off my loan they are saying that a third party made payment therefore I am not due any redress even though they upheld my loans.
Sara (Debt Camel) says
The family member was your guarantor?
Tom W says
Yes my guarantor was a family member.
Lea says
I’m fully expecting them to do the same thing with me. The family member was not my guarantor and sadly passed away so was not able to make a claim, it feels very unfair if they do this. I did also pay this back to him with interest as it was paid on a credit card.
Sara (Debt Camel) says
Lea should not have this issue as her payment came from someone who wasn’t the guarantor
James Nicholas says
I had several loans and I’ve got my claim going through. My guarantor was my Mum and she made pretty much all my payments and I paid her due to other debts at the time my bank was in and out of unplanned overdrafts etc so this way was easier for me to control repayments. Does this mean that my claim will be declined or if accepted I’ll get no redress?
Sara (Debt Camel) says
Did your mum make a claim?
If she didn’t, then as the decisions are going at the moment, it is likely you will be assessed as having a zero cash claim even if the loans are upheld. I don’t think this is right.
Tom W says
Amigo have told me that in this situation the loans will be upheld but no redress will be due. I have disputed this.
James Nicholas says
Hi, no she didn’t. I didn’t actually realise that she could make a claim when I was doing mine. She’s getting on now and wouldn’t have been able to go through this process without some help which I would have done had I realised. I know it’s too late for her to claim now just wondering if it does come back with no redress should I make a appeal based on this?
Sara (Debt Camel) says
Yes. I hope Amigo are going to change their minds on this.
James says
Thank you for taking the time to reply.
Laura says
So what happens to the redress owed, it just doesn’t get paid to anyone?
My guarantor paid it back, but I paid them. Guarantor didn’t make a claim.
Sara (Debt Camel) says
Let’s see if Amigo change their mind.
Their current approach is very unfair and turns who will get a refund into a random lottery
Laura says
My god, you couldn’t write this! When this is turned into a film, people will not believe it.
Bring on the documentary!
Ian tench says
Hi my guarantor paid two payments amounting to £400
Amigo are saying I am due nothing even though I paid over £7000 which I have proof of
Anyone had the same problem?
Sara (Debt Camel) says
Did you just have one loan? How large it?
Or top ups, in which case were they all upheld?
Samuel says
I have got a total refund saying about £2800. But to receive only £17p something, it becomes the total that they are asking me to accept or decline a refund of only £490. What is the best to accept it or decline it. If I decline, us it possible to get the whole amount of £2800. Please advice me what I should do. Accept or decline. If decline, is there any chance I can go to get it the whole amount £2800
Sara (Debt Camel) says
Have they upheld all of your loans?
Cj says
I know not amigo but another entry landed on clearscore last week was lantern and no one knows why.now indigo michael have increased a criminal limit of mine to 33000 00 I don’t get it .I had dealings with them years ago and was refunded as part of my upheld claim ..what’s going on
Sara (Debt Camel) says
33,000 – wow!
You aren’t the only one with this issue, see the recent comments in the last 2 days below this other article https://debtcamel.co.uk/safetynet-credit-administration/
Sam says
Hi Sara
I had a loan back in 2017 and a top up. After a few months I couldn’t afford my monthly repayments so a fa.ily.member who was not my guarantor paid off my loan. I haven’t had an outcome yet but it sounds like this shouldn’t affect my redress?
Also does the length of time you had the loan for affect the redress?
I am still waiting for a response
Sara (Debt Camel) says
No I don’t think that should affect your redress.
The length of time you had the loan for matters as it affects how much interest you paid.
Mariann says
Anyone got an update with a current loan? Sara, I still pay my DMP through Stepchange. Do you think they have to trace back if the DMP payment was paid by me or not? I paid all instalments before DMP and after so my guarantor never paid a cent. Could this cause them delay?
Sara (Debt Camel) says
I think they should assume StepChange payments come from you.
Mariann says
Thanks Sara. Do you think its too late to ask for an ESO? I paid back more than I borrowed.
Sara (Debt Camel) says
you can ask if you have repaid more than you borrowed.
Mariann says
Thanks Sara! I only had Amigo on my DMP so today I cancelled my plan. My next payment is due on the 30th with Amigo so I am hoping we will have a resonse by that date. At this point I don’t care paying them. I read that they have 3 different methology to decide the outcome. I am wonder which phase they are in currently.
Gee says
Hi I’m still awaiting for a claim outcome, however in a nutshell my original loan was £3000 however I paid it all the following month and only incurred £77 interest. The loan is settled but how much will I get?
Sara (Debt Camel) says
some percentage of £77 (plus a bit of 8% interest but that will be tiny).
Laura says
Sara, I know this would only be a guesstimate, but are there a lot of people waiting to hear do you think? I think October is going to come and go before we hear anything. It just seems flaky.
Sara (Debt Camel) says
Yes. Tens of thousands is my guess.
Laura says
Thanks. It would be good if they were honest with people, instead of giving a deadline, and then just moving it.
I got told that an appeal could be made three times – twice within Amigo – and then go to the outside company, Norton something, if you didn’t agree with Amigo’s decision. Surely, that has to take months. I can’t see any money being paid this side of the year.
Sara (Debt Camel) says
They don’t have to have all the appeals through in order to make the first payment.
Laura says
Oh, I didn’t realise that. I thought everything had to be finalised. Okay, fingers crossed we hear by the deadline.
Dawn says
Hi, like many others i’m still waiting for the outcome of my complaint, however i requested a my file via DSAR and have received this today. Should this file contain any bank statements, proof of income etc that were provided. I don’t recall them ever asking for any but had 3 loans in quick succession. Thank you
Sara (Debt Camel) says
If they have them, they should be included. But Amigo rarely asked for bank statements. How long ago were your loans taken out?
Dawn says
Thank you, I had 3 loans in total 2 in 2017 and 1 in 2018. There is no payslips or bank statements included in the DSAR file. All I can see from the correspondence is Amigo constantly sending letters trying to get me to take more loans.
Sara (Debt Camel) says
You need to try to get copies of those bank statements now. You can do this going back at least 6 years even from a closed account. So you have them to hand if you want to Appel, when you get a decision.
You won’t win an appeal just because Amigo never asked for the statements.
Malcolm says
Hello, I’ve seen alot discussions about the amigo loans refunds. Mines been upheld but I’m confused about the payouts. Mine says my cash claim value is nearly 11k but I’ll only be paid around 1.3k from my understanding but I’m able to escalate to have it looked into further, If my cash value is nearly 11k for the refund why do I only get 1.3k of that? Or is the escalation a way to say I don’t want the 1.3k and to get more?
Sara (Debt Camel) says
The current estimate is that people may only be paid 17% of their calculated cash refund. The percentage depends on how much money there will be be. Appealing will not change this percentage.
What is the exact value of the total cash refund you have boon told? Is this the sums of the individual refunds for the individual loans?
Caroline says
Hi, My Amigo loan I believe was Sold to Intrum so I was given no information about making a claim for mis-sold loans so I have missed out on the opportunity to raise a claim – however I did make a complaint some time ago but was given a “brush off”. This debt is still sitting with Intrum and I am not currently repaying anything and neither is my guarantor – they haven’t written to me at all only to my guarantor and there is still a charge on my guarantors property although according to my credit report this Amigo loan is paid/settled and closed. Does anybody know where I stand with this situation with regards to the loan ie does it still have to be paid to Intrum (although they probably purchased it for peanuts) and how we get the charge removed from guarantors property because it was Amigo who applied for the Charge and supposedly the loan is paid/closed and Amigo are no more! Any help will be much appreciated even if it is to seek professional legal advice. Many thanks.
Sara (Debt Camel) says
Did your guarantor make a claim to the Scheme?
It is possible that because you made a complaint earlier there is a claim in the Scheme – you need to ask Amigo about this.
If neither you now your guarantor has made a claim, it is too late to make one now. The loan and the charge will still legally exist after Amigo is liquidated – the Charge will be transferred to Intrum if it hasn’t been already.
Caroline says
Hi, As far as I know my guarantor has not made a complaint. Should I find the original claim and ask Amigo why I have not been considered for the scheme of arrangement? I think the loan has been with Intrum since September/October 2019 and in that time I made a few payments and they dropped it to £10 per month – I have not paid anything this year neither has my guarantor and I have not been contacted by Intrum at all this year. Would it be worth my while going back over my complaint some years ago and asking Amigo if I am considered a part of the scheme? Thanks for the advice.
Sara (Debt Camel) says
I suggest you ask Amigo if they have entered your complaint as a claim. If they say No, ask why you were not informed about the Scheme.
zoe tunmer says
Hello Zoe – received this today!
Thank you for your email. Whilst we initially estimated that we would be agreeing claims in the first half of 2023, due to receiving more claims than anticipated, we now expect to be sending outcomes via email within the next 3 months. I am sorry if this is longer than expected or a change to what we last advised.
Mark says
Got the same reply
Rach says
Finally had a lab outcome all claims upheld
Cash value 12670.57p
Although there is no compensation on a couple of them?
Do we know why this would be?
Sara (Debt Camel) says
Did your guarantor make any payments?
Is there a balance owing on the last loan?
Rach says
Hi Sara thanks for your reply 😊 no payments made by guarantor and all loans paid in full early x
Sara (Debt Camel) says
Then I suggest you go back to amigo and ask why the redress for some of the loans is zero. Ask for a statement of the loan account.
Ben says
Just had a email response from Amigo now saying that all decisions should be processed by end of December ! And couldn’t comment on my individual claim so for all those waiting for a payment this year wouldn’t bank on it !
Gem C says
Surely this just isn’t right? They cannot just keep moving dates as and when they please. It’s totally shocking 🙈 As time goes on and on, I can’t see anyone getting a single penny from these people
sharon5398 says
Hi am reading all these comments and it’s a Complete nightmare, I too am still waiting to hear, very frustrating when they keep moving the deadline. I took out a loan for £5000 and a top up for a further £5000 a month before first loan ended, I paid both loans off finished end of Feb 2023 – no payments made from guarantor a real struggle. Am I likely to receive anything ?
Sara (Debt Camel) says
You may well have a very good claim. And if the last loan is upheld, you should get the last few payments refunded in full, not at 17% (or whatever the per turns out to be)
But I have given up trying to guess what Amigo will uphold. I suggest you should try to get your bank statements now for 3 months before each loan as they may be useful for an appeal. You can go back at least 6 years, even from a closed bank account but get them now so you have them ready.
Charlene says
I’ve just spoken to Amigo explained what had happened when my friend paid the chunk of for me and I paid her back he said for me to ask her to get bank statements showing I paid her back for the loan and also for her to right an email/letter explaining it as well so when I appeal it again they can see there is proof I did explain that at first but he said if there proof of it then it will be better
graham says
Hi Sarah looking for your advice please. I made a claim back in 2020 using a claims company. The claim was passed on to the financial ombudsman for which I have a ref no. When the scheme opened the company told me that I had no need to go through the new scheme as I had already made a claim. I put this off until just before the scheme closing date then claimed through the scheme.
My 2 loans have now been upheld
Only paid 1 month on the 1st one
Loan £5250 interest refund £313.50
2nd loan £9250
Cash claim value £12.171
8% compensation £1620.25
Total claim value £14104.99
I do not know which claim they are going by the earlier one which was outside of the scheme or mine which was just before claims where allowed.
I believe that any payments after the 1/12/2021 will be refunded in full my payments from that start date up until the end of my loan where £1312.69..
I do not see any sign of that payment, would it be included in the cash claim value.
I was led to believe that I didnt need to claim through the scheme again and by holding off I missed the 1st december start date
Can u work anything out from the figures I gave you.
Regards Graham
Sara (Debt Camel) says
the second loan, can you go back through your bank statements and work out exactly how much you have paid to this loan? how much were the monthly payments and what was the start date of the loan?
Graham says
Morning Sarah information you asked for regarding my account.
Start date 28/3/2017
Closed 24/3/2022
Monthly payment £365.61
Total amount paid £21936.60
Interest £12686.60.
Do you think they have refunded me my £1312.69 I paid after 1 / 12 /2022 with the figures I have provided.
If not would it be best to call them or escalate it.
Many thanks
Graham
Sara (Debt Camel) says
are you sure about those numbers? because for the second loan, you borrowed 9250 (right?) and repaid 21963.6 (right?) so that suggests that the Cash claim value for loan 2 should be 12686.6, not 12,171
I suggest if you are sure your numbers are right, you go back to Amigo and query this.
And at the same time ask them to confirm what part of the cash claim value will be paid in full as you had made a claim in 2020, so you expect all payments after 1/12/21 to be refunded in full.
Al says
Sorry for butting in but don’t you think it’s been to long now for them to pay anything at all
Sara (Debt Camel) says
no. The length of time is annoying but it does not mean that they are running out of money.
Helen says
Everyone should beware – Amigo just took £1400 off us with a direct debit when we had arranged that we could afford £50 a month. They’ve taken all our rent, bills and food money and said that we had agreed to it. I think we would’ve remembered that, amigo. I would advise people to check the amount that’s going to come out the day before if they can. Amigo saying they will look into it and get back to us in 20 days! Thanks amigo but that doesn’t pay our rent, bills or buy food for the month…
Sara (Debt Camel) says
Ask your bank to refund this money under the direct debit guarantee scheme
Helen says
Thanks for your quick reply, Sara! We have done that but the bank said that amigo have to email them to guarantee that it’s incorrect and amigo said 20 days to look into doing that. Can we refuse and just tell the bank we’re asking under the DD guarantee and they should do that?
Sara (Debt Camel) says
yes tell the bank this. Say you had agreed £50 and Amigo taking the massively larger amount has left you unable to pay your bills or buy food.
Helen says
Thanks Sara, we’ll try that.
Username2023 says
@ 17p in the £, I’ll get back about £2.1k (claim already upheld at £12,553). What’s the likelihood of the per dropping? Not really fussed about the value that comes back as it’s been re-paid for nearly 4 years, in a much better financial place and will just be going to paying off my wedding
Sara (Debt Camel) says
I can’t guess.
Nicola says
Hi I’m just wondering how Amigo will contact me about my loan as I’m still waiting for a response. Will they get in touch through
Letter
Email
Phone
Thanks
zoe says
https://www.amigoscheme.co.uk/review-claim-outcome – you can see result here. They will also email you.
Sean says
i spoke to someone at amigo yesterday and they said all claims will be dealt with by end of October, now people getting until end of December this is jus a joke on how long this all taking
Lowri Jones says
What do you mean? They confirmed they would all be dealt/have a decision by end of october or december?
Sasha says
Has anyone with a current loan received an outcome yet? I finish paying for my £,8,000 loan + about £10,000 interest end of November, so curious what peoples oucomes are?
zoe t says
I entered a DMP as a direct result of not being able to pay the loan back, plus was placed on reduced monthly payments, then eventually applied for an ESO. Will these be the sort of factors Amigo would look at when deciding whether the loan was affordable? I am still anxiously awaiting a decision had a loan and two top ups totally 10k in total. Also my mum was a pensioner and had no income, she was my guarantor.
Sara (Debt Camel) says
I can’t tell what Amigo will look at. Have you got your bank statements from 3 months before the loan to 3 months after it started? that is the best evidence if you need to make an appeal.
Zoe T says
Thank you Sara, lets hope I dont but I will be able to access the statements if need be.
Sara (Debt Camel) says
I suggest you get them now, so you have them ready if necessary.
Shanna says
Hi Sara, any help and advice is welcome. I currently have a loan with amigo that i haven’t paid or made payments to in over 12months therefore its recorded on my credit file with x12 months late payments.
This is preventing me from getting a mortgage if they were removed i am eligible.. if I rang Amigo and offered to clear the balance would they remove the records from my file? My claim should he upheld i just cant wait any longer :(
Sara (Debt Camel) says
I very much doubt it. They are dealing with tens of thousands of cases. They have a set procedure to go through – they literally can’t manage to look at individual offers to settle cases outside the framework and agree individual offers.
Samantha says
Hi,
How does it work if a guarantor paid off the loan, £11k exactly and made the claim.
Are guarantors also only paid a percentage ?
Sara (Debt Camel) says
The redress for a borrower is the interest they paid. For a guarantor it is the full amount they paid.
But both borrowers and guarantors will be paid the same percentage of the calculated redress.
When did you make this payment?
Samantha says
July 2020 the guarantor paid the full balance off. Some monthly payments were paid previous to this
Sara (Debt Camel) says
ok then if their claim is upheld they are likely to get 17% (or whatever the final pay out percentage is) of the redress, which will be amount they have paid plus about 4% statutory interest.
Samantha says
Thank you hopefully will get a response from them soon.
Ronnie says
Evening, I’ve had an email from CLM, who I used to lodge my complaint. Apparently my complaint has been fully upheld (😊). However, on speaking with Amigo I am still awaiting the letter and decision?!?! They did say another department may have advised CLM this and didn’t deny anything I had been advised. CLM are adamant they have received this info. Hopeful but confused! Anyone else in this position?
Unom says
Hi,
I had the same happen to me, I contacted Amigo and they are saying no claim out come or final response letter have been issued yet, I don’t know where CLM are getting that information from, they even gave me a claim ref number, with someone else’s name against it, CLM are chancers.
Ben says
Hi there,
I’ve just had my decision on 3 loans, with a total claim cash value of £12,134.95. I am assuming from what I’ve read that I’d expect to receive approximately £2062.94 (based on the 0.17p) – does anyone know when this realistically will be paid?
Thanks
Jim says
If all historic and current loan claims are being approved/rejected without human interjection first time round, why are people not getting responses?
Surely they should fire out all emails. They’re just dragging this out to ring money out of those still paying for a loan! Disgusting.
Sara (Debt Camel) says
My guess is they are trying to control the number of appeals that are lodged in a month.
They’re just dragging this out to ring money out of those still paying for a loan!
If you have made a claim and are still paying for a loan, your payments should be ring fenced and be repaid in full. See the Exception – full refund for “continuing payments” section in the article above.
Liam says
Hi
I owe amigo 5k still. I stopped paying them and put in my claim. My guarantor had to make about 10 payments on my loan as I lost my job. I told them this and they offered to extend my loan which is laughable. Still waiting for a decision like everyone here. Whole process is a nightmare. I’m hoping they pay my guarantor his money back and wipe the 5k I owe them. They have stopped reporting late.payments.on my credit file. On one of them they have wiped it completely which I dont get. Very very confusing
Sara (Debt Camel) says
Has your guarantor made a claim?
Liam says
No my guarantor didn’t make a claim. I read it as if I made the claim as the person who took the loan out that any refund I get my guarantor would get his money paid back in full. Maybe I’ve read this wrong. I’ve seen the replies of other people and they seem to be reluctant to pay out any money to people were their guarantors have contributed to monthly payments
Kim says
Has anyone with a current loan, in Equitable Offset, had a final response yet via the portal yet? Growing increasingly frustrated with the late payment markers that have been added to my credit file for the last 1.5 years. I’m hopeful my complaint will be upheld. I entered a DMP in August 2018 and stupidly took out an Amigo Loan 2 months later, in October 2018. I then took 2 top ups that were offered, March 2019 and October 2019. My complaint is based on them not assessing my affordability properly before giving me the first loan (active DMP in place with 3 defaults on other loans which will have been evident in my credit file, defaults occurred only 1 month before they approved me). For the first top up, they mustn’t have reassessed my affordability. Between the original loan in Oct 2018 and first top up in March 2019, I had defaults registered against me on 2 other credit commitments. Between the 1st top up and the last top up in Oct 2019, I am unsure what was happening with my credit file, but I still had an active DMP for my other credit commitments outside of the Amigo Loan. I think they approved me, based on my guarantors financial status rather than my own. I cannot wait for this nightmare to be over!
Kim says
Sara – do you feel I have a good chance of my complaint being upheld for each of the loans? Thanks.
Sara (Debt Camel) says
I think you would probably have had all three loans upheld at the Ombudsman – but there is no point in me guessing what Amigo decision will be.
John G says
Will we see any money before Christmas 2023
Sara (Debt Camel) says
Probably – but you cannot plan on the basis that this will happen.
Jason says
Hi
My portal just says
“You have not yet received a final response letter”
I suppose this is standard?
Thanks,
Jason
paula says
I was contacted in April
saying they were now working on my claim
and here we are in Oct
and I have heard nothing
how much longer will this take.
Stupid boy says
Same here, I contacted them on Friday to find out what was going on and the person I was speaking to made it sound like the complicated ones are being dealt with now. My case is a bit stupid, I was a guarantor and I stupidly accepted to be my friend’s guarantor and believed that they didn’t do enough checks on her as I didn’t know about the other loans she was drowning in. There were stupid top up loans taken from 2019 gosh what a horrible mistake. Guarantor loans should be abolished as they don’t work.
Kate says
I’m also in exactly the same position. The friend I was a guarantee to unfortunately died, leaving me to pay off a 5k debt
Still have heard nothing from them either
Derek says
I’m still waiting on correspondence from amigo, when I go too the amigo scheme login it says welcome to amigo but there’s nothing else e on page… I’m actually still paying £28 a fortnight since Covid as an agreed repayment plan… is there anything I can do too see if I maybe missed the email.
Bobby Jones says
Your not on your own ,your claim sounds so familiar to my friends.Hopefully all the guarantor claims will be upheld as I know the relevant checks were not carried out.It’s been an absolute nightmare for my friend and his family .
Louise says
Can you tell me what this means please what the amount is I’m more likely to get?
Interest refund
£11,397.73
Fee refund
£0.00
Reinstated interest
£0.00
8% compensation
£3,606.12
Claim value
£15,003.86
Cash claim value
£10,844.39
Total cash claim value
£14,450.51
Username2023 says
If the 17p in the £ is the final % payout (may still go down), then it’s be £2,456.59 (17% of your cash claim value).
ed says
why do they make it so complicated for people to understand? yet another failure by them. They could easily just say “and this is the total that you will get”
Sara (Debt Camel) says
because at the moment they do not know what percentage will be paid out. They won’t until all the claims and appeals are settled and the remaining loans are sold.
Stan says
Hello Sara
Could you please advise me.
My original claim for 2 loans was rejected some time ago. I have escalated and this time supplied all the bank statements. I have received decision from the adjudicator which stated that there will be no changes to the decision. They have stated this is because’We have arrived at this determination, as the information provided within your appeal does not include any new evidence that the initial assessment or reassessment of your claim, had not already considered against the criteria defined by the Scheme’. Does that mean they have’t considered my bank statements? Or have but didn’t find anything new? The reason i am asking is that i have submitted my bank statements to amigo via email not the portal , because it wasn’t working properly. I have spoken to amigo staff and asked them to confirm whether the adjudicators reviewed my statements, but they said they can’t confirm because adjudicators are very busy.
I am trying to decide whether i should drop it now or take it further and would appreciate your advise.
Thank you
Sara (Debt Camel) says
It doesnt sound as though they have looked at your bank statements. What do they say the next step is?
Stan says
Hi Sara
The letter states:
‘Amigo are in possession of this outcome and are to communicate this to you.
The issuing of our determination as detailed in this letter concludes our involvement in the matter. This outcome does not prevent you from referring your case to the Financial Ombudsman Service. However, please note that the Financial Ombudsman Service has indicated that it is unlikely to progress complaints because of the Scheme. Should you choose to refer your case to the Financial Ombudsman Service, this must be done within 6 months of receipt of this outcome. The Financial Ombudsman may also request sight of this independent adjudication outcome to assist in their decision-making’
I was sure i had a good case but after this i am not sure. Is it worth taking it to Ombudsman?
thank you
Sara (Debt Camel) says
no. FOS will not look at this. It is silly of Amigo to suggest that they might.
Stan says
Thank you!
Does this mean there is nothing else i can do and no way of getting them to confirm whether they looked at my statements or not?
Also, i have a live loan with them and will be asking to reduce my monthly payments, will my guarantor be affected in any ways?
Thank you
Sara (Debt Camel) says
I am sorry I didn’t see this comment. I will have a look at this.
Rhys says
Are people still getting rejected lately – just seeing what the situation is as I have heard anything regarding my outcome!
Leigh K says
Hi sarah.
My guarantor and i both put a claim in. Today my guarantor has received a email stating one of my loans was rejected, but one is been upheld. Which is fine as the upheld loan was a top up for the pervious loan. But in the email my guarantorsl has recived it states this.
On the loan agreement(s) that we have decisioned as an uphold, and agree that the loan should not have been provided, our records indicate that you have not made payments towards the loan(s) in question. Therefore, there are no payments to be refunded to you. This means that, under the terms of the Scheme, there is no redress due to be paid.
So would this mean i now have to wait longer to receive my email about the complaint been upheld.
As my guarantor never made any payments on the loan and was all payed for by myself. Or is this them saying nothing id due. Loan was payed in full in march 2022
If i go onto my online portal is still says no final decision made yet. Iv asked the guarantor to log into theres to see what it says but there currently busy.
Cheers
Sara (Debt Camel) says
It seems to be saying just that the guarantor will not be paid because the guarantor didn’t make any payments to the second loan.
Did they make any payments to the first loan?
Has the second loan been repaid?
When you get your decision, consider if you should appeal the first loan – because there may be a large amount deducted from the refund for “reinstated interest” on the first loan.
Leigh k says
Thanks for the quick response.
The guarantor did not make any payments to the first loan. And the second loan payed off the first loan as was a top up from amigo. Second loan is payed back in full now.
Ill await my response from the first them maybe challenge the first loan. But i have a feeling they will say it was affordable at the time of taking it out. As thats what it states is why it was rejected.
Cheers
Sara (Debt Camel) says
What date was the first loan? An yo7 get you4 bank statement from that date?
AG says
I’m still waiting on an outcome too…