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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
David says
Hello, what happens if you escalate an upheld loan and lose ?
I’m not happy with what has been left of the loan also if a loan is still live what happens to that loan if amigo have admitted liability of unaffordable lending in the first place?
Sara (Debt Camel) says
If you lose any appeal, the Amigo decision remains as it was.
Are you not happy with the uphold decision because you think the numbers are wrong? Could you explain why?
Or because you just think tge balance should have been cleared and the numbers are confusing?
If you are Left owing a balance, then you guarantor will have been removed. And no further interest will be added. As there is no longer a guarantor, if you have other debt problems as well you can look at a debt management plan for them all including the Amigo balance. Or look at a form of insolvency to clear the, all such as a debt relief order or bankruptcy.
It’s likely (but not certain) that Amigo may make you an Offer to settle this.
Or your loan will be sold to a debt collector who may accept a settlement offers as they will have bought this loan very cheaply.
Adam says
Have received a email from amigo
Following a review of this claim, and given that you have an outstanding loan balance, we have made the decision to stop automatically collecting any future payments from you, whilst the Scheme Outcome is finalised
Does this look promising that the claim will be upheld
Sara (Debt Camel) says
Yes, very promising.
adam says
Just checked my credit file and it has been removed only thing on there from amigo is a previous loan to my last one that shows as settled
Sara (Debt Camel) says
That previous one may not have been upheld. How long ago did you take It out?
adam says
Was settled in 2018 when I took a top up out?
Sara (Debt Camel) says
I was asking when you took the loan., if you can get bank statements for the 3 months before that time, it will really help if you need to appeal the deck if Amigo rejects your claim. I’m not saying they will… but it’s good to be prepared
Roxy says
Hi Sara
I have an outstanding balance and loan is due to be settled in June 2024. Never missed a payment and my guarantor has never made a payment. Do you think they are holding out on answering claims that are still outstanding and customers are still paying? I find it very strange that people are able to appeal their decisions whilst some don’t have any outcome from the scheme. Thank you.
Sara (Debt Camel) says
Do you think they are holding out on answering claims that are still outstanding and customers are still paying?
No. They wouldn’t gain anything from this because yo7 will get recent payments refunded in full if your claim is upheld so there is no reason to delay.
Have you got your bank statements for the 3 months before the start date of the loan. If not, get them now as if you have to appeal, bank statements are your best evidence.
L says
I have historical settled loans that I still haven’t heard about. Mine should be straightforward, and I’m in the queue, so I don’t think there’s any structure anymore.
John says
Got this email on 15/12/23 anyone else had this as first contact?
We are contacting you today with regards to your current loan with Amigo.
One of the parties on this account, either the borrower or the guarantor, has raised a Claim within our Scheme of Arrangement. Further updates regarding this Claim will be issued to the relevant party, in due course.
Following a review of this claim, and given that you have an outstanding loan balance, we have made the decision to stop automatically collecting any future payments from you, whilst the Scheme Outcome is finalised.
This means that you will most likely have your liability for this loan removed, and will not have any further payments collected from you. We’d also ask that you do not make any future payments to the loan, and cancel any Standing Orders or regular payments that you have set up.
Whilst we finalise the details of this claim you may notice that the account has fallen into arrears and you might receive some communication stating this. No action is required from you, and we’d ask that you keep this information for your own records. We will ensure that you are not detrimentally impacted in any way from the actions that we are taking to resolve this matter.
If you have received this message, and have already been advised that your liability has been removed by Amigo.
Laura says
I received this over 2 weeks ago and still not had a update or final outcome 🙄 I think it’s just a generic email being sent to everyone who’s claim has likely been fully or partially upheld
Marta says
I received the same email on Friday 15/12/23.
Ashleigh says
I called them, she advised that means you have paid the principal of the loan and you and the guarantor have liability removed, they don’t want u to pay more as you have paid off the loan, they just need to review is anything is owed noe and await the outcome (but the loan has been paid in full now) x
Anne says
Hi,
I also received this email on the same date. I haven’t been in recent contact with them and my guarantor sadly passed away in the summer.
Maybe it’s a standard message going out to customers that are being processed.
Olly Jones says
Hi, I have finally received a response saying my claim has been upheld to the cash value of £23,000.
They estimate we will receive approx. 17p in the pound which for me would be just under £4,000 as my loans are now cleared in full with no defaults.
I’ll believe that when I see it and I am expecting to end up with a lot less.
My main questions is about when we might receive any money? My decision email states this….
‘We expect to be able to begin making payments in early 2024 and confirm any final payment due to you in late 2024. We will contact you directly to provide you with further information about this’
How can they start making payments to people in early 2024 and then confirm to the same indivuals in late 2024 any final payments due?
I’m not sure if it’s me being stupid, but to me, this doesn’t make any sense.
Does it mean they will pay start paying people in full in early 2024 and continue to pay people in full until late 2024?
Or does it mean they will pay us in instalments from early 2024 onwards?
They way it is worded makes it sound like this is the case, but I can’t believe they would pay us instalments?
Does anyone have any ideas what it means?
Many thanks
Sara (Debt Camel) says
The percentage part of the refund will be paid in two parts. The first part will probably be much larger – it may be 80-90% of the refund you will get (but that is me guessing).
It is being done this way so that most of the money can be paid out where Amigo are pretty sure about the final amount. The last payment will mop up everything else before Amigo goes into liquidation. This has been done before in similar situations, eg the Money Shop scheme.
L says
When do they think they will start paying the compensation into the bank
Username2023 says
“We anticipate that refunds and initial Scheme payments will be paid by the end of February 2024, followed by a second smaller payment 6-9 months later, once there is certainty around the timing of Amigo’s liquidation”
Taken from the scheme website update on 11/12/23
Marta says
I received the same email.
I made some calculations and checked my payment history and I paid £8800 back, but my original loan amount was £5500.
I stopped paying in April 2022 after I complained and used my right to Set Off.
My current balance with Amigo shows that I still owe over £5,775.41 (including interest).
Is this mean I’m not eligible to get any refund or compensation from Amigo Scheme?
Sara (Debt Camel) says
If your claim is upheld (and that email suggests it will be), then your balance will be cleared and your calculated claim value will be £3300 – but you will only get back about 17% of that.
Marty says
Hi Sarah
I also received the email in regards to liability last week and as someone else has discussed Amigo confirmed that the loan is now closed and paid off, Even though I still had over 12 months to go.
You have mentioned previously that payments made after Dec 21 will be refunded if Complaint was issued earlier (My complaint was 23 Dec 2020) – Should I expect a full refund on payments made after Dec 21? I’m the guarantor and was making all payments for my partner from my bank account.
Thanks Marty
Sara (Debt Camel) says
Yes.
Your partner may be left owing a balance, but interest will be removed and stopped.
You will have no liability to pay that. If it is sold to a debt collector they may take a low settlement offer from you.
Marty says
Thanks Sarah – I asked Amigo and they said that the loan is closed So no liability for either of us , Hopefully she doesn’t owe anything further as we had paid back more than we borrowed so have been fortunate to not have to make payments these last few months
Daryl says
Like a few have stated, I had an email today stating that payments will be stopped etc, but I stopped paying back in July 2023 using your advice about the “Equitable Set Off”. As of today, I have an outstanding balance of £3,557.25 but all the interest has been paid and this is just the remaining balance. I borrowed £10,000 and have paid since 2018 – £20,603 (makes you sick), how does the amount I would be due to get work?
Is it the £20,603 I have paid minus the £10,000 borrowed leaving 17% of £10,603?
Sara (Debt Camel) says
so you stopped paying in July this year? When did you complain – in the Scheme or before?
Daryl says
Yeah, my last payment was on 1st July 2023. I have a spreadsheet with my Amigo Payments and Interest each month from 1st October 2018 up until 1st July 2023.
In terms of the complaint, I was trying to find when I raised a complaint, I can see an email from Amigo to me on 11th Jan 2021 stating:
“Dear Daryl,
We write further to our recent correspondence to let you know that we are continuing with our investigation into your concerns.”
So I assume I complained in 2020 based on this?
In regards to the scheme, I have an “acknowledgement” email from July 2022. If I remember right, you had to complain via a portal so I wouldn’t have any emails in my sent box to check.
Sara (Debt Camel) says
So I assume I complained in 2020 based on this?
I don’t know – I hope they treated that as a complaint. If Amigo did, then you will get all payments from Dec 2021 repaid in full, and the rest of your refund paid at a percentage, probably about 17%
If Amigo didn’t treat that as a complaint, then you will only get payments refunded in full from the the start date of the Scheme in May 2022 [edited to correct date].
Daryl says
I’ve just done some digging and found my original email to them which was dated 16th November 2020 & they responded on 20th November 2020 using the words “Complaint”, so I will keep that as a record and argue my case if they don’t use that.
The scheme start date was 26th May 2022, correct? So if they didn’t treat my original email as a complaint I would get a full refund of payments from 26th May 2022 – 1st July 2023?
Final question, I got a loan in the middle of 2017 that was paid off in early 2018 with a family loan, and then I had this latest loan middle of 2018. I cannot remember what I put in the scheme but would both loans be looked at? Appreciate all your advice and comments.
Sara (Debt Camel) says
The scheme start date was 26th May 2022, correct? So if they didn’t treat my original email as a complaint I would get a full refund of payments from 26th May 2022 – 1st July 2023?
correct
would both loans be looked at?
probably
Daryl says
Just reading this, when you say “Full Refund” – is that actually a full refund or is it still only 17p to the pound of what you have paid?
Sara (Debt Camel) says
Some more recent payments will be refunded IN FULL not at a percentage. See article above for details
Russ says
Hi, I was just wondering if the payment which are full refunds related, will be paid in full and early 2024. I understood that the payments made after the scheme are held in a separate account. So in that case the money should already be there and available to payout even though they are still looking at cases. I can’t see anything that separates out the cash refunds with the full refunds, any ideas?
Sara (Debt Camel) says
There is no reason why the IN FULL refunds have to be paid at the same time as the first of the PERCENTAGE refunds.
But Amigo hasn’t said when it will pay them.
Kirsty says
I asked Amigo why they are not paying the ‘in full’ refunds immediately and they just replied with ‘payments will be made early 2024’! It doesn’t make sense that they have not made these yet s you say, the money has been ringfenced – I could really do with my £1100 :(
Talula says
I received an email today from amigo but nothing to say the outcome not it did state the below:
This means that you will most likely have your liability for this loan removed, and will not have any further payments collected from you.
Does this mean I have been released or that I may be once a decision has been made? I’m a guarantor on the loan. They state that they are still to provide a Scheme outcome.
Sara (Debt Camel) says
it means that is highly likely
Janet says
Hi Sara,
I received an email from Amigo stating the following statement below;
Following a review of this claim, and given that you have an outstanding loan balance, we have made the decision to stop automatically collecting any future payments from you, whilst the Scheme Outcome is finalised.
This means that you will most likely have your liability for this loan removed, and will not have any further payments collected from you. We’d also ask that you do not make any future payments to the loan, and cancel any Standing Orders or regular payments that you have set up.
Whilst we finalise the details of this claim you may notice that the account has fallen into arrears and you might receive some communication stating this. No action is required from you, and we’d ask that you keep this for your information.
Fabien says
Hi,
I have had my appeal upheld and waiting for amigo to get back in touch on the next steps. Do you have any idea what these will be?
For context I have never missed a payment, my guarantor has never had to make a payment, I have just over a year left on my account and I took the loan out In January 2020 with 0 top ups.
Any help would be greatly appreciated
Sara (Debt Camel) says
Amigo doesn’t seem to be leaping into action when appeals have been upheld. Is it hard making the payments at the moment?
Fabien says
Not overly no it’s more of a headache than anything and I just want to know what’s happening and whether or not I’m going to have to continue paying every month or what I am owed.
Sara (Debt Camel) says
I can make a good guess at what you are owed.
how large was the loan? how large are the monthly payments? how much have you paid so far? And did you claim in the Scheme, or before it?
Fabien says
It was £6000 over 5 years, I have been paying £237.15 per month for the last 4 years, I have £3,655.86 left and I claimed before the scheme .
Sara (Debt Camel) says
So using your numbers…
you have made about 44 payments. You would have repaid the amount you borrowed in about 25 payments.
if the decision was applied now, your total calculated refund would be about the last 19 payments. It sounds as though all of those last 19 payments may have been made after you complained? In that case the refund amount should be paid IN FULL. So about £4500.
And further payments you make now will also be refunded in full.
Fabien says
Yes all 19 have been paid after I complained, so should I be refunded £4500 or will it be 17p to the pound of that £4500?
Sara (Debt Camel) says
That should all be in full :)
Del boy Elder says
Goalposts moved again…. I got in touch with these clowns today and was told the more complexed cases are taking longer and we should here bye the end of January now… when I asked about payments I was told it could be late march before 1st payments are made…. I hope yous all aren’t in a panic for payments because it looks like we are in for another long wait..’
E says
I’m not bothered how long I have to wait for payment, I just wish I knew how much I was getting and had the assurance that I definitely do not have to make any more payments towards this loan.
Daryl says
Same for me, I’ve been told I don’t have to make payments anymore which is good, but now I want to know if it is upheld and how much I am getting back. It could make a huge difference and help out.
Daryl says
Hi Sara,
Just following on from yesterday, below is my loan in a bit more detail. I checked the Portal today and no response as of yet, but just trying to do my own rough calculations. I raised a complaint to Amigo in November 2020 as stated yesterday and then joined the scheme once that was available in 2022, so I am hoping they take my complaint from November 2020 as the starting point, I will argue that case if I have to.
But based on the below, if I were to get my Payments from 1st December 2021 back IN FULL, would they use that to clear my outstanding balance? Or because I have repaid the original borrowed amount, does that just get wiped and I’d get the £7,114.50 back in full? and then 17p of the £2,776.75 which was paid once the loan was cleared but before 1st December 2021.
(Sorry if any of that is confusing, not sure any of this mess with Amigo is that clear)
Borrowed – £10,000
Months – 60
Paid to date – £20,157.75
Outstanding Balance – £3,557.25
Borrowed Amount (£10,000) repaid after 31 Payments (April 2021 – £10,276.50)
Payments made from 1st December 2021 – £7,114.50
Payments made from when Borrowed amount was cleared (26th April 2021) to 1st December 2021 – £2,776.75
Sara (Debt Camel) says
If your claim is up held your balance will be wiped.
The earliest date that payments may be refunded in full is 1 Dec 2021. At this poin5 you had already complained and had repaid more than you owed. So if your claim is up held all payments from 1 Dec 2021 shops be refunded in full so that would be £7114
In addition the rest o& the interest you have paid will be repaid at about 17%. That is 20157 (what you have paid) – 10000 (what you borrowed) – 7114 (the recents payments being refunded in full).
(There will also be some 8% interest added on.)
Daryl says
Thanks, Sara. That is really helpful to understand the figures a little better. Now it is just a waiting game for an actual response. Have people had responses back already with positive outcomes?
I also emailed Amigo yesterday to see if they had recorded my complaint back in 2020 as the start point and I received the following this morning:
“I can see that your initial complaint was raised on the 16/11/2020, then raised within the scheme on 14/07/2022”
So it looks like they are recording the initial complaint as the start point.
Lea says
Hi. Sorry in advance for the long message, I’m hoping you can help me understand this before I accept anything please, I have received my outcome and all has been upheld
Borrowed -£3250 -upheld
Interest waived -£0
Fee refund -£0
Reinstated Interest £0
8%comp -£0
Claim value £1011.62
Borrowed £4250-upheld
Interest waived -£3739.52
Fee refund -£0
Reinstated Interest £0
8%comp -£961.74
Non affordability claim £30
Claim value £4701.27
Borrowed £4250.00-upheld
Interest waived -£2015.41
Fee refund -£0
Reinstated Interest £0
8%comp -£2125.00
Claim value £4141.37
Summery
Interest waived -£6766.55
Fee refund -£0
Reinstated interest £0
8% compensation -£3087.69
Non affordability claim -£30
Claim value -£9854.26
Cash claim value -£6766.55
Total cash claim value £9884.24
Does this mean I will get back 17p per pound on £9884.24? All loans are paid in full.
Thanks
Sara (Debt Camel) says
Does this mean I will get back 17p per pound on £9884.24?
Yes.
Lea says
Thank you for confirming, it also mentions that I will pay tax on the money paid out is this correct?
Thanks
Sara (Debt Camel) says
The 8% part is taxable as saving interest. But whether Amigo actually deduct any tax on this isn’t yet known – in other administrations/schemes often no tax has in the end been deducted.
Steven says
Good Afternoon,
I finally received my response today which seemed like it has taken forever. My decision is partially upheld complaint.
Loan 1 – £1500 May 2015 12 month term upheld
Loan 2 – £1500 May 2016 12 month term defended
Loan 3 – £5000 August 2016 24 month term defended (top up Loan paid back early)
Loan 4 – £3250 March 2018 12 month term upheld.
My first and last Loan have been up held with a cash claim of £1252 including the interest so I would receive 17% of this.
My question been my circumstances never changed within the time frame of all 4 loans plus I had the same guarantor for each of them so it seems odd to my they would accept the first and last as been unaffordable but not the middle two?
I will escalate the 2 defended loans based on that, anyone have any advice?
Thank you
Sara (Debt Camel) says
Yes argue your circumstances never changed. Who your guarantor was isn’t relevant- you win this by arguing just that the loan was unaffordable for you. If you can Get old bank store the 3 months before each of the rejected loans that will help.
Steven says
Thank You Sara,
I will appeal the defended loans. I’ve tried on the portal and didn’t have much luck, i wrote my explanation in and nothing seemed to happen, just seemed to refresh the page (no email confirmation of escalation) not sure if others have had similar issues. I will leave it a couple of days and try again see if that helps.
Sarah Heydon says
I have had same issues with the portal and same circumstances as yourself
Sarah says
Good Afternoon Sara
Please could you help as I have had a partially upheld today
Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived £4,938.52
Fee refund £450.00
8% compensation £2,911.19
Claim value £8,299.71
Cash claim value £4,801.57
Total cash claim value £7,712.76
Breakdown of agreements
18/12/2014 Amount borrowed £5,000.00
Your party type Borrower
Outcome Defend
10/02/2012 Amount borrowed £4,950.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £4,938.52
Fee refund £450.00
8% compensation £2,911.19
Claim value £8,299.71
So my question is roughly around how much would I be due?
Also on the loan that says defend is this the loan that I need to escalate ?
I was going to accept the decision on the 2012 loan but escalate the 2014 loan but I wanted to check is this the right thing to do, I appreciate any help
Sara (Debt Camel) says
On those numbers you would get about 17% of “Total cash claim value £7,712.76” = about £1300
If you have bank statements for the three months before the second loan, that is the best evidence to support an appeal. Otherwise you can tru arguing that your financial position was worse in Dec 14 that it had been in Feb 12 when the previous loan had been upheld. Any evidence at all to support this may help.
graham says
Hi Sarah I complained on the 17/11/2022 my complaint has been upheld but with no full refund for payments from that date.Should I be due full repayments as I continued paying until my loan finished in march 2023
Sara (Debt Camel) says
Yes in those dates you should. Ask amigo to explain why they think not
Graham says
Hi Sarah thanks for the reply.
I have just checked my dates the complaint date is correct 17/11/2022 but I had already finished paying my loan off 24/3/2022.
Reason complaint was so late was I had been informed by fos and complaints company that my complaint would be automatically put into the scheme but decided to complain myself at the death.
Will the fact that I had paid off my loan make a difference to the fact that I should get some payments back in full.
I did complain to the adjudicator but using the early complaint when it went to the fos but this has been refused so hoping my later complaint has some relevance
Sara (Debt Camel) says
what was the date you first complained? which claims firm?
Graham says
Hi Sarah I have spoken to you before regarding the earlier complaint. It was back in 2020 Sanderson Drake where the complaint company. I just really need to know if after I complained into the scheme on 17/11/2022 after finishing paying off my loan am I entitled to any payments in full. I would of thought the adjudicator would of picked up on that or are they as bad as Amigo and didnt make the relevant enquiries. It seems im not entitled to take this any further according to Amigo
Sara (Debt Camel) says
I was asking the date your complaint first went to Amigo – not the date you complained in the Scheme. Have you asked Sanderson Drake what is happening?
Graham says
Hi Sarah I believe I answered back in 2020 before the scheme was started went fos as amigo turned it down. They have now upheld it but as I explained have not offered any full repayments just the 8% interest and 17p in the pound. Should I be getting any full payments back at all with the dates ive shown you
Sara (Debt Camel) says
So in between what you say, what Amigo say, what FOS did and what Sanderson Drake did, any views I have are irrelevant… you need to go back to Sanderson Drake and ask them why you are not being paid some of this money back in full.
I am sorry but someone is wrong – I don’t know if this is you, FOS, Amigo or Sanderson Drake.
Graham says
Thanks Sarah. Just to clarify. If we forget the first complaint and just look at when I entered the scheme 17/11/22 should I get some repayments back in full and just point this out to Amigo.
Thanks for all your help.
MERRY Xmas
Sara (Debt Camel) says
No because the loan was repaid before the scheme started
SNA says
Hi Sara,
I have at long last received an outcome to my claim as guarantor for an ex partner who after a couple of payments never paid anything further to the loan. Can I just be clear that from the £13,000 odd I paid because of his failure to do so, I will receive a p/£ of £15,828.59 and then a total of the refund amount of approx £1600 on top.
Guarantor Total Payments £13,089.71
8% Compensation £2,708.88
Non-affordability redress £30.00
Total Cash Claim Value £15,828.59
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £0.00
Payments made before Scheme Effective Date (2) £1,655.26
8% Compensation on payments made after Scheme Effective Date (3) £0.00
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £0.00
Total Refund Value (1+2+3 minus 4) £1,655.26
Thanks,
Sara (Debt Camel) says
Yes
Lisa says
Can someone help in regards to outcome.
I recieved this desicion and confused as to whether I will receive total borrower refund (full amount) or 17% of the total cash value.
Interest refund- £5,737.07
Fee refund – 0
Reinstated interest – 0
Total borrower redund – £5,737.07
Cash claim value – £1,175.29
8% Compensation £124.89
Non affordable redress £30
Total cash claim £1,330.18
Sean says
Pretty sure refund is full
Cash claim is 17p
Looking back on what a lot of others have asked.
They could have worded it a bit better but if people go off this it becomes a bit clearer.
Mike says
Hey
Got this email from them earlier. What’s your thoughts dates wise? Thanks again
below:
Agreement number WSF2784497 Loan amount £3,000 Loan term 36mths Date paid out 13/10/2009 Amount paid out £2,970.00
Agreement number 25026827 Loan amount £3,750 Loan term 24mths Date paid out 15/05/2015 Amount paid out £3,750.00
Agreement number 31287225 Loan amount £4,750 Loan term 36mths Date paid out 21/09/2016 Amount paid out £2,517.53
Agreement number 38493177 Loan amount £5,000 Loan term 24mths Date paid out 16/10/2017 Amount paid out £1,114.46
Agreement number 42397954 Loan amount £5,000 Loan term 24mths Date paid out 21/06/2018 Amount paid out £872.21
Sara (Debt Camel) says
Which loans have been upheld?
Mike says
Still haven’t had my final letter but all 5 are being reviewed
Sarah says
Morning, I have today recieved my decision off Amigo. They have upheld my first loan as not affordable but then the 3 after they have said are affordable. Can I reject this? As obviously if my 1st was unaffordable so we’re the ones after which are the ones where I missed payments and had difficulties
Sara (Debt Camel) says
yes you can appeal these.
What were the dates of the 4 debts? Do you still owe money on the last one?
Sarah Heydon says
15/05/2018
27/07/2018
23/10/2018
12/06/2019
Yes I still had an outstanding balance. If they had all been upheld I should have been left owing around £900
Sara (Debt Camel) says
those are all pretty recent.
I suggest you appeal them and send in your bank statements for the three monthhs before each loan. You can get bank statements going back 6 years even from closed accounts.
Sarah says
Thank you for your response, I tried declining on the portal and it won’t work just keeps going back to the top of the page 🙄. Will keep trying.
Thank you for your help
Sara (Debt Camel) says
tell Amigo by email that you do not want to accept the decision but you cant decline on the portal. You are not the only person having this problem, see https://debtcamel.co.uk/amigo-scheme-claims/comment-page-17/#comment-523922
Laura says
Ahh I’m getting so impatient waiting for my claims outcome… honestly feel like everyone but me has had there response 😂 checking the portal and emails multiple times every day… so frustrating
Sara (Debt Camel) says
about 40% of people haven’t.
Ruth says
Hi Sara,
I’ve finally had my claim back on my live loan (4 loans, with 3 of them topups) and they’ve upheld them but not given any 8% statuory interst on any of them, just £30.00 compensation, which means apparently I owe £221 on the live loan! I had these loan since 2018 so should be owed quite a lot of statuotory interest…have you seen this before? Should I escalate?
Sara (Debt Camel) says
You wont get 8% interest if through all this period you have owed Amigo money after taking the refunds into account.
Do you think the numbers on the loans look right?
Karen says
Hi.
I had 6 loans and my latest loan hasn’t been paid. I’ve had my claim through and all has been upheld.
Total Borrower Refund (1)£4,721.23Current Balance (2)£7,085.91New Loan Balance (2 minus 1)£2,364.68
You will see they have taken my redress of my current balance. Should I be looking to get this balance completely wiped?
They also included this:
“We have made the decision to uphold your Non-Affordability claim and provide you with £30 in redress, as an apology for any inconvenience or upset caused. This is displayed in the Appendices at the end of this letter.”
Any feedback is welcome.
K
Sara (Debt Camel) says
They don’t have to wipe the current balance if the refund doesnt cover it.
how large was the last loan? how much have you paid to the loan in total?
Do the numbers on the earlier refunds look right?
What was the non-affordability claim about?
Karen says
I’ll try and type all the numbers out later when I finish work if you wouldn’t mind having a look at them.
Yes the non affordability complaint is odd. I emailed a few times asking for update.
Laura says
Hi Sara,
I have received my decision today and my claim is upheld.
Over three loans i borrowed a total of 10K the value currently stands as 11K owing.
This is what they have said:
Summary Agreement Claim Values
Interest waived £9,146.08
8% compensation £0.00
Non-Affordability claim value £30.00
Claim value £9,146.08
Cash claim value £0.00
Total cash claim value £30.00
Does this just mean they will deduct the claim value off my current balance?
Kind Regards
Sara (Debt Camel) says
If you have a current balance, they normally say how that is going to be reduced – did they not mention this?
Laura says
No that is all it said and then gave me a break down of each loan.
I just want to understand if i accept these claims, i would be happy with the outcome if it is a case of they will reduce the balance by the £9000 odd claim value. but i wouldn’t be happy if i just receive a share of a £30 cash claim value and then still have the balance to pay.
I am just concerned about accepting the claim if i don’t quite fully know what it means? If that makes sense.
Sara (Debt Camel) says
very sensible. I think you should get all the numbers before you accept anything.
I suggest you phone Amigo up and ask what is happening to the balance on your current loan if it isnt clear.
Laura says
Hi Sara,
I was being stupid, i didn’t go down to the bottom of the email, i got excited and jumped straight onto on the portal which didn’t display the information.
They are indeed taking the value off my current balance which means i now owe around 2k which i am extremely happy with, considering the loan was standing at 11K! and i am happy my guarantor will be released :)
Thank you for supporting us all through this, it has been very frustrating for us but your help and advice has been extremely helpful!
Sara (Debt Camel) says
Good!
So this is now a non guarantor loan which can’t have more interest added. Amigo may make you an offer to settle it at 50% or less. If not, they will sell it to a debt collector that will probably be happy to take a lower settlement amount.
Shanna says
I received my decision today
Interest waived £1,374.20
8% compensation £0.00
Non-Affordability claim value £30.00
Claim value £1,374.20
Cash claim value £0.00
Total cash claim value £30.00
I thought everyone received 8%compensation or is there particular grounds for this?
Thanks
Sara (Debt Camel) says
Do you still owe a balance? Or have you been through a form of insolvency? or did your guarantor make any payments?
Shanna says
Hey, Yes an outstanding balance. My guarantor made one payment just.
Sara (Debt Camel) says
so how large was this loan (I assume you only had one)? And how much have you paid to it?
What balance do they say you now owe?
Did your guarantor also make a claim?
Anne says
I have today received an email from amigo saying as guarantor I’m due £5806.07 redress but under it says about the 17%. I was led to understand guarantors would get total amount back not a percentage.
Sara (Debt Camel) says
There are two things going on here.
First is the calculation of the redress amount. There guarantors get all the payments back, borrowers only get the interest.
Then after that, there is how much of that redress you will be paid. Some recent payments are refunded in full, see the article above. But most is going to be paid at a percentage, probably about 17%. This applies to everyone, guarantors and borrowers.
Anne says
The email says total cash claim value is £5806.07
Refund value£5606.59
8% compensation £271.02
8%compensation tax £54.20
Outstanding refund £5819.41
Sara (Debt Camel) says
there should have been a line in the email or on the portal that says “Guarantor Total Payments £x” – what did that say?
Anne says
On my email it says Guarantor total payments says £5202 .01
Sara (Debt Camel) says
How much do you think you paid?
If it was more than 5202, can you copy in more of the numbers. Check both the email you got and the decision details on the portal.
Anne says
Hi Sara again
I have checked on Amigo website for payments I made which were from April 2020 to August 2023 .
Payments were £266.79 per month for 41 months which make my payments £10,938.39.
On portal this is the information
Summary agreement claim values
This is not the amount you receive
Interest waived 0.00
Fee refund 0.00
8% compensation £574.06
non affordable claim £30
Claim value £5,202.07
Total agreement set off refunds
Refund value £5602.59
8% compensation £271.02
8%compensation tax £54.20
You have an outstanding balance of £5819.41
Breakdown of agreement
12.6.17 36674368
Borrowed £1000 Other party xxxxxx
Your party type guarantor
Outcome upheld
Agreement 37426447 4/8/17 borrowed £1750 upheld
Agreement 38216160 27/9/17 for£2250 upheld
Agreement 39099150 22/01/17 £3000 upheld
Agreement 40476100 21/02/18 £4000 upheld
Agreement 42335191 16/06/18 £4750.00 upheld
Agreement 43881298 12/11/18 £6000 upheld
Agreement 46954015 26/03/19 £6750 upheld
Sara (Debt Camel) says
ok so some of your recent payments are being refunded IN FULL – I think that is this number £5819.41 (which Amigo says is your balance, but I am pretty sure that is the amount that will be paid to you in full)
The other older payments will be refunded at a percentage, probably about 17% – that is this number £5806.07 (“total cash claim value”)
You may want to phone Amigo up to check this
Anne says
Thanks for all your help I will give amigo a call to clarify.
Rebecca says
Morning, received my decision this morning
Please can you help me make sense of this? I am unsure if this is acceptable or whether to argue it? Thank you
28984265 £3,000.00 36 07/12/2015
30748952 £3,750.00 36 25/07/2016
31232232 £5,750.00 60 14/09/2016
31736693 £7,000.00 60 08/02/2017
35625670 £8,500.00 60 10/03/2017
36167302 £1,500.00 36 24/05/2017
37498322 £2,500.00 60 26/08/2017
38732474 £3,750.00 60 02/11/2017
40055453 £4,750.00 60 23/01/2018
43495455 £3,500.00 48 24/09/2018
46410469 £4,500.00 60 06/03/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£9,597.99 £0.00 £0.00 £9,597.99
Cash Claim Value £4,228.57
8% Compensation £1,558.20
Non-affordability redress £30.00
Total Cash Claim Value £5,816.77
Sara (Debt Camel) says
have all the loans been upheld or some rejected (Amigo labels rejected loans as Defend)?
do you still have a current balance? if so, is this being cleared?
did you guarantor make any payments?
Rebecca says
All repaid.
Yes they have all been upheld… It doesn’t specifically say each loan but collectively has said that it will all be ‘upheld’
my guarantor paid off one of the loans (the most recent) but all the other they didn’t thank you
Sara (Debt Camel) says
did your guarantor make a claim?
Rebecca says
No they haven’t made a claim.
Sara (Debt Camel) says
If you look in the portal and the email, there will be the details for each loan
But the reason your total cash claim value is so much lower than the Interest Refund number is almost certainly because your guarantor settled one of the loans. In this situation Amigo is refusing to refund you, so as your guarantor did not make a claim, you have effectively been robbed of half your refund. Nobody (except Amigo) imagined this would happen but it has.
RB says
Hi Sara – I have received an upheld outcome across 4 loans I took out. Just trying to work out the numbers as it doesn’t seem to add up.
The ‘total borrower refund’ states £9284.58 but the total cash claim value is only £3128.84
My guarantor made one or two payments on the first loan I took out many years ago but none since.
I will also be getting a full refund of £4982.03 on the payments made more recently – is this why the cash claim value is so much lower than the total borrower refund?
Thank you :)
Sara (Debt Camel) says
Yes that full refund is one of the reasons. It still seems a bit low though – I suggest you ask Amigo how many payments your guarantor made as you thought it was only 1 or 2.
Josh says
Hi Sara!!
I was a guarantor for a man I thought was a friend but he left me holding the 10k bag.
I stopped paying as I couldnt afford it and pretty much the entire loan is left to pay off.
Using the help here I made a complaint and it has been upheld!!!! 😭
I’m free and I have you to thank for it, thank you so much!!!!
Sara (Debt Camel) says
Happy Xmas!
Liam says
Hi
You say the guarantor gets a full refund but my guarantor has a letter stating the 4 k they paid will be paid out at 17% not the full refund
Sara (Debt Camel) says
First the redress amount is calculated. There guarantors get all the payments they have made taken into account, borrowers only get the interest they have paid.
Then after that, there is how much of that redress someone making a claim gets paid. Some recent payments are refunded in full, see the article above. But most is going to be paid at a percentage, probably about 17%. This applies to everyone, guarantors and borrowers.
Andy says
Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived £0.00
8% compensation £416.29
Non-Affordability claim value £30.00
Claim value £3,977.20
Cash claim value £3,977.20
Total cash claim value £4,423.49
Total Agreement Set Off Refunds
Refund value £1,190.00
8% compensation £77.87
8% compensation tax £15.57
You have an outstanding refund of £1,252.30
Received my outcome today, I am a guarantor on this loan and have paid since probably the second month in.
Am I right in thinking the refund will come to me, me and the loan applicant put a claim in.
Andy says
At the bottom of the email there is this.. what does it mean please.
Guarantor Total Payments £3,977.20
8% Compensation £416.29
Non-affordability redress £30.00
Total Cash Claim Value £4,423.49
Total Cash Claim Value = Guarantor Total Payments +8% interest as compensation + Non-Affordability redress
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full, and will be subject to a dividend. Confirmation of this will be sent to you, later this year, once all claims have been decisioned.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,190.00
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made afte
Sara (Debt Camel) says
I assume this is the email you received, not the borrower.
yes the refund will come to you for all your payments. Some recent one will be repaid in full, older ones will be paid at a percentage, expected to be about 17%
From the numbers you have copied in:
“Total Cash Claim Value £4,423.49” you will be paid about 17% of this.
“Payments made after Scheme Effective Date (1) £1,190.00” you will be paid this in full, p[luse a bit of 8% interest they should have given you the number for.
MAJID says
Hello Sara I have received an upheld outcome across 3 loans I took out. Amount borrowed 1:£4000 2:£4700 3:£10000
What do you think should I accept the offer?
This is not the amount you will receive.
Interest waived £8,871.48
8% compensation £492.24
Non-Affordability claim value £30.00
Claim value £9,363.72
Cash claim value £8,383.59
Total cash claim value £8,905.83
Total Agreement Set Off Refunds
Refund value £487.89
8% compensation £55.60
8% compensation tax £11.12
You have an outstanding refund of £532.37
Sara (Debt Camel) says
were all three loans upheld? Has the last loan been repaid?
MAJID says
Yes, all three loans upheld
I paid off my last loan on 20 June 2022
Sara (Debt Camel) says
So you will get back a percentage, probably about 17% of Total cash claim value £8,905.
And the outstanding refund of £532 will be repaid in full. (That would have been your last one or two payments after the scheme started.)
Unless you think some of the numbers are wrong, there is no reason not to accept the offer.
adam says
Anyone else having problems logging into the portal …..as soon as I click review claim outcome it loads an expected error page
Sara (Debt Camel) says
I suggest you email Amigo saying this. You do not want to misss some date to make an appeal because of this, especially over the xmas period.
Corinnna says
I have received my email today, could anyone confirm this is right please before I accept.
Borrowed £7000 (2018)
Paid off December 2022
Interest refund: £7328.64
Total borrower refund: £7328.64
Cash claim value: £5368.08
8% compensation: £326.16
Non-affordability redress: £30
Total cash claim value: £5274.24
Totally refund value (1+2+3 minus 4) £2160.91
Thank you in advance
Sara (Debt Camel) says
Unless any of the numbers look wrong to you, that is probably ok.
Total cash claim value: £5274.24 – you will get paid a percentage of that, probably about 17%
Totally refund value (1+2+3 minus 4) £2160.91 – these are later payments that you made that will be refunded in full, not at a percentage
Jody says
Hi Sara
I have an outstanding loan until June 2024. My guarantor has never made payment and I’ve never missed a payment my situation is not ‘complex’
I see on their website they’ve wrote in November 2023 they removed Amigo from peoples credit file (not removed of mine) and then in December 2023 they’ve issued emails advising customers their payments will be stopped as their claims are likely to be upheld (I haven’t received this) does this mean my claim is likely to be rejected? Thank you
Sara (Debt Camel) says
I don’t know. there always seems to be a random element with Amigo communications.
Can you get your bank statements now from the 3 months before the date the loan started? Then you will have them ready to appeal a rejection.
AmigoAmigoYeeHa says
At last it’s my turn 😁
A Loan for £3300 (£3k plus £300 broker fee) from 2011 @ 36mths – has been Upheld.
Paid off early by myself:
Interest: £1945.60
Cash Claim Value — £2245.60
8% Compensation — £1650.05
Non-affordability redress — £30.00
Total Cash Claim Value — £3925.65
So roughly £667 back at 17p in £ (disgraceful I know).
Now I have gone back to them for a breakdown of the 8% as I believe it should be £2170 running from the initial broker fee (£300 on 26/01/2011) to claim upheld date 21/12/2023.
If I’m right then it’s an additional £100 which nearly covers the tax deduction
Sara (Debt Camel) says
Amigo stops the 8% calculation on repaid loans at 28 February 2022. No idea why but its written into the Scheme. And the calculation will only start from the point where you had repaid the borrowed amount, so you would have been in credit if they hadn’t added the interest and the broker fee.
It isn’t yet clear if Amigo will deduct tax from these refunds. See the section of tax at the top of the article above.
AmigoAmigoYeeHa says
That’s a bit rubbish.
As I always thought that 8% was from the date it was applied to the account.
Oh well, this + Everyday Loans I’m looking at around £1.5k – that will go towards the Final Lump sum on my HP car (any further updates on the test cases relating to Commission?)
Sara (Debt Camel) says
not yet!
AmigoAmigoYeeHa says
Well Sara thanks for all your help across the site this year.
It’s greatly appreciated by all who visit, not just the ones who comment.
I hope you and your family have a great Christmas and a very happy new year
Sara (Debt Camel) says
thank you!
Archie Croft says
That’s terrible!
8% should be calculated from point of deduction (that’s how FOS & Courts calculate it).
Just seems to be a rule in favour for these firms whilst screwing over it’s customers.
I bet all the share holders get their correct funds.
Sara (Debt Camel) says
FOS doesn’t calculate 8%.
John says
Hi. I was a guarantor for someone I cleared the full loan agreement after he failed to pay 3 months in a row and they sent final notice agreement. My claim has been upheld and they have told me I’m due to receive my money but they haven’t given me the final amount. Will I get a full refund on all the money I paid or 17%. Is it different for guarantors or is it the same as the borrower?
Sara (Debt Camel) says
so they have given you a decision with a line that says “total cash claim value”?
John says
I have the amount that has been upheld but the total cash part is empty.
Sara (Debt Camel) says
so it says zero?
Bobby Jones says
Hi Josh my mate was in the same boat as you,when did you hear?And by what means please we are still waiting his outcome.Congratulations on your result 👍
Josh says
Hi Bobby,
I heard today just before I posted here.
The result came through via email and then the scheme portal had been updated for me to accept the decision.
Sam says
Hello Sara,
Thank you so much for all of your help with this.
I finally received my claim reply yesterday on a historic loan plus topup. Could you help me check that everything is correct before accepting?
I am mostly unsure if the £0.00 8% compensation on the initial loan is correct. Apologies if you’ve covered this before but i’ve looked back through previous comments and still don’t fully understand how it works.
Loans were paid off in full on time and no payments were made by guarantor.
Agreement *****1
Date of payout: 10/03/2011 Amount borrowed: £1,100.00
Your party type: Borrower Outcome: Upheld
Interest waived: £351.92
Fee refund: £100.00
8% compensation: £0.00
Claim value: £451.92
Agreement *****2
Date of payout: 04/04/2012 Amount borrowed: £2,200.00
Your party type: Borrower Outcome: Upheld
Interest waived: £1,125.68
Fee refund: £200.00
8% compensation: £1,218.22
Claim value: £2,543.90
Sara (Debt Camel) says
so your total cash claim value is the sum of those two claim values?
8% interest is only being added from the point you no longer owe Amigo any money. At the end of the first loan, you still owed the second top up loan.
Sam says
Ahhh okay that makes sense! Thank you so much Sara.
Andrew says
Hi Sara – like many others, I got my response today :
1. Interest waived £349.48
8% compensation £0.00
Claim value £349.48
2. Interest waived £536.79
8% compensation £0.00
Claim value £536.79
3. Interest waived £2,126.28
8% compensation £933.64
Non-Affordability claim value £30.00
Claim value £3,059.92
Total –
Interest waived £3,012.55
8% compensation £933.64
Non-Affordability claim value £30.00
Claim value £3,946.19
Cash claim value £3,012.55
Total cash claim value £3,976.19
All appear upheld – do I just accept this do you know?
Sara (Debt Camel) says
Unless you think any of the numbers are wrong, then that looks simple, no reason not not accept
Zara says
Hi again,
I’ve received my outcome. Result below:
My status: Guarantor of loan to ex-friend from month two onwards (10k + 49.9% apr)
1. 8% comp: £1,591.16
2. Non-aff claim: £30
3. Cash Claim Value: £14,835.84
4. Total Cash Claim: £16,457.00
Result is probably 17% of #4 and apply for tax refund on #1 ?
Very disappointing that guarantors who stepped in don’t receive full justice but shareholders will.
Not sure if this is the best outcome or not. 17% of what I’ve paid is a long way off making amends for the damage done during this time :(
Sara (Debt Camel) says
Result is probably 17% of #4
probably, unless there were any lines on your decision that talked about “set off refunds” – these would only applu if you had made any payments in the last 2 years.
apply for tax refund on #1
there may not be any tax deduction. See article above. If there is, Amigo will give you the numbers for it.
Very disappointing that guarantors who stepped in don’t receive full justice but shareholders will.
Very poor for borrowers and guarantors. But the shareholders are ending up with nothing.
this may not be a great outcome for you but unless you think some of the numbers are wrong, there is no point in appealing it.
Lori says
Hi Sara, wondering if you can help
I am the guarantor of a loan thats still live, I complained to Amigos in September 2020 and started paying on behalf of the borrower from December 2020. If my complaint is upheld, will I receive a refund for everything that I paid from December 2020? I read the thread and I could see that you said they will make full refunds from everything thats paid from December 2021 but why not before that?
Tia xx
Sara (Debt Camel) says
Yes you will get a refund for all your payments if your claim is upheld. But only the ones from Dec 2021 may be repaid in full. The earlier ones you will only get a percentage of… probably about 17%.
It also depends on whether Amigo has treated your earlier complaint as part of the scheme. Some people seem to be having trouble with this, others don’t.
Zara says
Hi Sara this is the gutting thing on my end. I made about 15k worth of payments for this ‘friend’ all ending around August 21 so i’ll only get the 17% as opposed to the full amount. Looks like amigo had to draw a line somewhere and we are on the wrong side of it. Shame on my amigo, as well as amigo themselves (you can only laugh at this point !)
Leanne says
Still no response.
It has been removed from my credit score though so could this mean it will be resolved soon?
Sara (Debt Camel) says
Hopefully!
Syed says
In the same boat
Adrean says
Hello,
I’ve recently received the outcome letter regarding my complaint, indicating that it has been partially upheld. Out of the four loans I’ve had with Amigo (one of which is ongoing), only one has been upheld, surprisingly not the most recent one that I raised concerns about. I strongly feel that they did not adequately assess my financial situation when granting the loan. They never requested proof of income such as payslips or bank statements, nor did they inquire about my existing loans. I would greatly appreciate your advice on this matter.
Sara (Debt Camel) says
I suggest you appeal the rejected loans. And attach to your appeal your bank statements for 3 months before the dates of the loans you are appealing. You can go back at least 6 years to get bank statements, even with closed accounts. Often further back if you have changed banks
Char says
I still haven’t received an outcome either. It’s becoming highly frustrating!! I feel I’ll never getting a response.
Daryl says
Of everyone that has heard back so far, are they getting an email and then a response on the Portal?
Just so I know what to look out for. I seem to be checking both emails and the Portal daily.
Zara says
I haven’t got any emails but I checked the portal and it came through
Daryl says
Thanks, I am checking everyday but nothing as of yet. It’s all been removed from my credit file which going by their FAQs, it seems to be a positive sign.
Tom says
Got my response yesterday, all loans that I’ve made an affordability claim against have been upheld to the value of around 6.5k. What’s frustrating is I made an affordability claim long before any of this and it was denied. Was sat with the financial ombudsman for awhile until everything came to a hault.
Jane says
Did you notice they were removed of your credit report?
Did you receive any notification advising you to stop paying (if u still are) tia
Lori says
Hello Sara, I am a guarantor and received my outcome letter yesterday, the current loan has been upheld however there’s still a balance remaining on the live loan, what happens if i pay everything off today? Will i get the refund for this too or only whats on the outcome email? Tia x
Sara (Debt Camel) says
You are no longer the guarantor for this loan, you will have been released.
You will NOT get a refund for any money you now pay to it. Nor will the borrower get a refund.
You no longer have any legal obligation to help with this loan. Do you still want to? What is the remaining balance that the borrow has been told they owe?
jen says
Hi Sara,
I took out a loan for £3500 in May 2014. Interest £2836.57. I got into more financial difficulty and got into arrears in September 2016, account was passed onto intrim, but i did not receive a CCJ despite their threats (looking through the emails actually triggers me because it reminds me how they were so horrifically threatening and pressuring into payments, not one ounce of sympathy or understanding) I think the debt was around 1.8k when it was passed to Intrim, I cannot remember how long I was paying via Intrim and what the balance was or is at this moment, it very well may have been cleared (it was so long ago i can’t fully remember the details) When I log into the portal of amigo it says “account sold to intrim”, so i can’t see anything on the site. I put a claim in before the scheme happened, do you know where I stand with this? I’ve had some emails from Amigo re the scheme etc but the last one was November 2022. When i put a claim in before the scheme, they rejected it and it was sent to the FOS, they upheld my claim and said they were writing to amigo to say they should uphold my claim but then the scheme happened and the FOS said they were no longer issuing them to pay people whilst the scheme and going to court. Am i entitled to anything if they uphold the claim?
Sara (Debt Camel) says
I think you need to contact Amigo and ask if they entered your FOS claim into the scheme – they should have done.
Jen says
i think they have done as i logged into the actual amigo portal before and it said “you haven’t received an outcome yet” realised i was logging into the actual amigo website and not the scheme site!
DS says
Is the decisions going in alphabetical order?
Not messaged them at all and entered an eso around april/may not sure when i complained unless anyone knows when emails got sent out about voting for the scheme and such because i done that then put in the claim cant remember the dates for all that
had 3 loans in total over time with amigo one then 2 topups last one was for 12k seen 8 odd after settling previous loan
Paid 480 since then was around 2019 before eso and got emailed last week to not make further payment and loan removed from credit file just seeing if anyone is similar or sara if you have any advice
Was first payment 1st march if correct?
Sara (Debt Camel) says
Is the decisions going in alphabetical order?
no
unless anyone knows when emails got sent out about voting for the scheme
which Scheme?
The first scheme (rejected) would have been in April 2021.
The second scheme (approved) would have been in about mid March 2022
Amigo says “We anticipate that refunds [of recent payments] and initial Scheme payments [the part being paid at a percentage, expected to be about 17%] will be paid by the end of February 2024, followed by a second smaller payment 6-9 months later”
Liam says
Hi Sara
I’ve not received mine yet, and it goes on.
My guarantor has received his letter. All payments made before this scheme was introduced. 4.2k he has paid. They have said this WILL NOT be paid in full and will be subject to 17% payout. Is that right. It was my understanding that all payment from guarantors where to be paid in full regardless of if the were made before ot after this silly scheme
Sara (Debt Camel) says
It was my understanding that all payment from guarantors where to be paid in full regardless of if the were made before or after this silly scheme
No. The guarantor’s “redress is the full amount they paid, a borrowers redress is only the interest they paid.
But both the borrower and the guarantors will get the redress paid at a percentage, unless some of their payments were recent.