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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
R says
I rung Amigo yesterday and spoke to a very kind young lady. She was very helpful. I rung up to see how long it would be before those who haven’t been informed of decision are likely to wait. She told me there are almost certain everyone who hasn’t heard will hear by 31st Dec. Keep fingers crossed.
Sean Maguire says
Hi Sara
I received an update from Amigo regarding my loans. Do you think I should appeal the last 3 as I had to take out an additional loan to pay them off (now settled thankfully).
Would you have any idea what my redress is likely to be based on the upheld amounts below?
Many thanks
Sean
WSF8687024 £2,250.00 36 10/07/2012 Upheld
13763744 £1,750.00 24 22/05/2014 Upheld
21633203 £2,500.00 48 16/12/2014 Upheld
26238159 £4,000.00 60 02/07/2015 Upheld
30722703 £5,500.00 48 21/07/2016 Upheld
40507376 £5,500.00 36 23/02/2018 Defended
42580163 £6,250.00 48 06/07/2018 Defended
43975156 £7,000.00 60 16/10/2018 Defended
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£7,309.68 £0.00 £0.00 £7,309.68
Cash Claim Value £7,309.68
8% Compensation £2,945.90
Total Cash Claim Value £ £10,255.58
Sara (Debt Camel) says
yes I think you should – 2 top up loans within 8 months, each for increasing large amounts suggests that you were in difficulty.
If you can attach your bank statements for the period Nov 17 – Sept 18, that would be good evidence. You can usually get bank statements going back at least 6 years, even from a closed account.
At the moment, without those last three large loans being upheld, you would get a refund of about 17% of the Total Cash Claim Value £ £10,255.58 – so about £1,750
Sean Maguire says
Thank you Sara
Katie says
Hi Sarah, I noticed at the top of the page saying that amigo is expected to start paying in January/February 2025?? Is this right are we looking on another year before they will start to pay?
Sara (Debt Camel) says
Sorry, bad typo. Should be 2024. I have corrected it.
Katie says
lol thank you Sarah i was just wondering.
I’ve followed this page for some time and it has helped me so much
I hope you have a wonderful Christmas thank you for all your help and guidance
James says
Hi Sara I just had an email from the company dealing with my amigo claim it now looks like amigo ain’t paying out 17p in the pound to start with can you confirm this
Outcome (Before Dividend): £1000
• Estimated Dividend @ 17p: £170
• Early 2024 Payment @ 10p (estimated) £100
• Latter 2024 Payment @ 7p (estimated) £70
Thanks
Sara (Debt Camel) says
Yes this has always been Amigo’s intention. I had hoped the payout split would be closer to 14/3 than 10/7 but split payments have always been in the plan.
NB if you are getting any amount refunded in full, that should be paid in one lump, not split.
Annie says
Hi Sara
Will we get the full amount for total borrowers refund then the 17p per pound for the total cash claim please?
Sara (Debt Camel) says
You will get the full amount for the set off refund. And about 17p in the £ of the total cash claim value, which will be paid in two parts.
Annie says
Hi Sara
I spoke to amigo they said we don’t get back in full total borrowers refund?
Sara (Debt Camel) says
That’s correct. That’s just part of the intermediate calculations.
If you have a line labeled “set off refund” you get the full amount of that. Can you paste in your numbers.
Hannah says
Hi Sara
My numbers are
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
44466309 £1,500.00 24 16/11/2018
50211396 £1,750.00 24 03/09/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£1,281.44 £0.00 £0.00 £1,281.44
Cash Claim Value £1,281.44
8% Compensation £70.77
Non-affordability redress £30.00
Total Cash Claim Value £1,382.21
Total Borrower Refund = The interest and fees owed to you, once the Loan Amount has been paid.
Cash Claim Value = The Total Borrower Refund less any loan payments paid directly by your guarantor.
Total Cash Claim Value = Cash Claim Value + 8% interest as compensation + Non-Affordability redress
Sara (Debt Camel) says
So if the second loan was repaid on time, the relevant line for you is The Total Cash Claim Value £1,382 – you will get about 17% of that amount.
Jason J says
I’ve been told I’ve payed £900 more than I should. This 17p (thing🤷🏻♂️).but they what give me the money even though it’s mine. which would benefit me. but guess what they can’t do that, so they will give it back to themselves by taking it off my loan.even though I pay every payment weekly, never use my guarantor. so the only people who are benefiting from this is themselves by giving them the money they owe you back to themselves.
Sara (Debt Camel) says
how many loans did you have? Which of these loans had been upheld?
Leoni says
Hey! Hope everyone had a nice Christmas. I had my outcome a while ago, as below, I understand the payments are to be split 10/7 (estimated) but have recently seen a post mentioning a dividend? Can someone explain this to me as I don’t understand 🤷🏻♀️ thank you!
| Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | 10758754 | £3,500.00 | 60 | 22/01/2013 | | 13758915 | £5,000.00 | 60 | 02/12/2013 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | Claim Value | | £8,062.66 | £0.00 | £0.00 | £2,655.01 | £10,717.68 |
| Cash Claim Value | £6,797.88 | | 8% Compensation | £2,655.01 | | Total Cash Claim Value | £9,452.89 |
Sara (Debt Camel) says
These refunds are sometimes called dividends. There is no extra dividend payment that will be made on top.
Barbara Oshea says
They are not even giving us the 17p in the £ in one go, I’ve read they are splitting into two payments!! What a bunch of *@*@**😂
Early 2024 Payment: Amigo is to pay out as much money as it can at this stage – whilst holding back money to make sure it has enough to pay everyone once decisions are fully made / assets sold. The Early 2024 Payment will be made in January / February.
Late Summer 2024: Final payments made.
We are in regular contact with Amigo and they have told us they expect to pay out around 17 pence or 18 pence in the £, based on present information. The Early 2024 payment is expected to be around 10 pence in the £ (although this is not confirmed).
Example
• Outcome (Before Dividend): £1000
• Estimated Dividend @ 17p: £170
• Early 2024 Payment @ 10p (estimated) £100
• Latter 2024 Payment @ 7p (estimated) £70
Mill871 says
Hi Sarah,
Looking for advice if possible. I’m a guarantor and checked the scheme portal to find out that my complaint to the scheme had all been upheld (no email, to make me aware of the outcome prior.)
I accepted the outcome. However, the breakdown/details of Amigo’s decision has now gone for reference, and now states confirmation has been accepted. I have contacted Amigo to have the figures emailed so I have sight of this.
My concern is, that I remember the outcome said that I won’t be contacted about the loan and no longer liable for it which is great, but I do have a direct debit set up for payments still. I haven’t received an email to say that I should stop payments, would it be appropriate to now stop the DD? The next payment is due at the end of the month. In my email I also asked for clarification about this, just awaiting a response in the meantime.
Many Thanks.
Sara (Debt Camel) says
have you checked your junk/spam folder ? Many people found the email decision in there.
but if you are a guarantor and the loan has been upheld, you can no longer have to make any payments – Amigo should confirm this if you phone them up.
Mill871 says
Thank you. Yeah I was checking everyday nothing has or had been sent to my inbox, spam, junk, or deleted emails. I’ll defo reach out to them, if I don’t hear a response back to my email.
Many Thanks.
Bobby Jones says
Hi mate did your debt get sold on?
Mill871 says
Hi, not sure if your question is directed to me. I don’t believe the loan was sold on. Guarantor payments I made were set up and sent to Amigo Loans.
Syed says
Still no final response letter.. Still awaiting the date they say expected by end of Dec 2023. 2 days left and counting.
Sarah Malley says
Me neither still awaiting a final outcome don’t know wether that’s good news or not being one of the last ones.Hopefully it will be good news for us both fingers crossed 🤞
Syed says
Fingers crossed, hoping for the best.
Kelly says
I’m still waiting too 😪
Margaret says
I’m still waiting outcome, been removed from my credit file but I don’t hold up much hope
Luke says
Hi. I don’t understand my email. Please can you explain:
Claim Outcome: Upheld Total Cash Claim Value = £5703.65
As well as the information explained above, we have also identified that you are entitled to a full refund of certain loan payments which is explained further below.
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
38191002 £1,500.00 36 27/09/2017
38922014 £6,000.00 48 13/11/2017
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£6,398.59 £0.00 £0.00 £6,398.59
Cash Claim Value £5,141.59
8% Compensation £532.06
Non-affordability redress £30.00
Total Cash Claim Value £5,703.65
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,000.35
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £97.57
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £19.51
Total Refund Value (1+2+3 minus 4) £1,078.41
Sara (Debt Camel) says
Have all your loans been upheld?
You will get:
This amount paid at a percentage, probably 17%: Total Cash Claim Value £5,703.65
This amount (which is more recent payments) paid in full: Total Refund Value (1+2+3 minus 4) £1,078.41
Lukas says
Yes. Do you thi I should accept this?
Sara (Debt Camel) says
It looks fine to me (Unless you thing there is something wrong with the numbers,)
Ann says
I also waiting still been removed off credit file and received a letter saying not to pay?
G says
Yeah same here. Surely gotta be upheld.
ryan says
I still havent heard anything either. Check emails/website daily. My original loan was £5000 in 2014, topped up to £8500 in 2018. My guarantor has had email saying one defended, one upheld (top up). Ive had it wiped from credit agencies and had the email saying not to pay so looking good obviously. I know current loans are dealt with last but just dont understand why its taking so long as mine is as uncomplicated as they come. surely! I applied to scheme as soon as it opened. I have made reduced payments of £135 since jan 2021 but had paid more than the loan value by then. Hopefully we will all be sorted soon. Thanks for all the great info Sara, this site has been invaluable!
Laura says
I still haven’t heard, I actually feel like I’m never going to hear lol
Toni says
I’m still waiting too!! 😔
Michael says
I’m still waiting as well, i guess all the current loans are being left until last minute, not holding out hope of hearing by end of the year though.
Sara (Debt Camel) says
Lots of decisions of current loans have gone through. Many decisions of repaid loans haven’t.
Lisa G says
Yeah, my loan has been repaid a while ago and I still haven’t heard anything. I did however send off bank statements etc to my complaint and have had the loan removed from my credit file (all 3 now)… so 🤞. I’m expecting to wait until the end of January or beyond to be honest
E says
Even with 71% of claims done, they’ve still got around 60,000 claims to get through.
There’s absolutely no way they’re getting them all boxed off by Saturday.
Looks like I’ll be waiting well into January to hear back.
Tara says
On the claim’s portal website, the scheme does state they aim to get all claims finalized by the end of January. I’m one of these people, anxiously waiting my outcome. There is some good information within their FAQs section and does state if the loan has been removed from your credit files, your loan has more than likely been upheld. I have an outstanding balance and in a ESO and so I’m very curious as to what my outcome will be. Considering this loan forced me into an IVA (now completed) and my guarantor has since died. Which of course they have been automatically removed from the loan but did make one payment a few years ago. Hopefully the wait will be worth the result. I’m just happy it’s no longer on my credit files, as that was so damaging and I’m back on the road to repairing my credit history. The moral of this story is to never get another loan ever again.
Sara (Debt Camel) says
The moral of this story is to never get another loan ever again.
Well totally never ever in a million years get a guarantor loan again. Or one at a stupid rate of interest.
A loan at 7% from your bank can often be sensible!
David says
Still no email for me either, i was starting to think i imagined the whole thing. Thank god for this site!
Caroline says
Hi, I still haven’t had my final response but it has been taken off my credit file and my guarantor has been released from the loan what does this mean? Does this mean that my claim could be upheld? Could someone advise me of this please
Sara (Debt Camel) says
did your guarantor also make a claim?
Ben says
I’m in the same position but my guarantor has never made any payments, I’m in ESO and it’s been removed from my credit files
Sara (Debt Camel) says
did your guarantor make a claim? Has your guarantor been released?
Ben says
Yes guarantor has made a claim and has been released
Sara (Debt Camel) says
So in this situation is possible that your guarantors claim has been upheld and yours hasn’t. It isn’t that likely but it is in theory possible.
Caroline piff says
Hiya, thanx for your response, no he didn’t only I did
Sara (Debt Camel) says
Ok as only you made a claim it is VERY unlikely amigo would have released your guarantor unless your claim has been upheld – they just haven’t told you yet v
Caroline Piff says
Hiya, ok thankyou very much, was worried as they said they are selling my loan on to another company as they no longer taking payments from guarantor but are from me through my Iva
Sara (Debt Camel) says
Well if it’s in your IVA do you care?
Linz says
Amigo has taken themselves from my credit file but today Lanton has been added for the amount I owed amigo, I’m still waiting a response from amigo scheme
Sara (Debt Camel) says
Ask amigo if your debt has been sold to Lantern, and why this has happened before you are given the response to your claim.
Also get hold of the bank statements for the 3 months before the start of the current loan so you have them there for an appeal if Amigo do reject your claim.
Andrea says
I still haven’t heard anything either. It has been removed from my credit file, but never heard a thing, not even a letter to say stop paying. I only have one payment left.
Lauren says
Upheld appeals… My appeal was upheld maybe a month ago now. I emailed Amigo asking when the data will be removed from my credit file and also asked for confirmation my guarantor will be informed they are released and also details of any refund I am due.
Amigo responded saying they will be in touch. However the data still hat not been removed from my credit file, what they have done is removed my late payment marks for the past 2 years and replaced them with dashes (no available info) and it’s still saying I owe 5k on my account.
Has anyone else won an appeal and had any letters from Amigo with details of the upheld appeal? Wonder how long I’ll be waiting. I really want this off my credit file.
Sara (Debt Camel) says
Several people have said Amigo isn’t taking action fast on upheld appeals. It’s not just you. This will be sorted in the end
Lee says
Mines have been upheld since the 1st of September. Still waiting
Kate says
Do you know please how I will receive? I was a guarantor it says £7466 upheld but all the figures in the appendices at the bottom are confusing me
Sara (Debt Camel) says
can you copy those numbers in here?
Kate says
Hi Sara, Thankyou for replying to me
The figures in the appendices are
Guarantor payments 3940.81
8% compensation 3496.05
Non affordability redress 30
Total cash claim value 7466.86
I’m confused as to what the refund to me will be
My friend that I guaranteed this loan for unfortunately died
Sara (Debt Camel) says
so this was all settled several years ago.
In that case you will get back about 17% of Total cash claim value 7466.86 so about £1250
Kate says
Ok, certainly better than nothing! Thankyou for your help
Becca says
Can I just ask, how are they saying payments are being made in January when 30% are still waiting for outcomes?
I have had it removed from my credit file but still no response
Sara (Debt Camel) says
So far as I can tell, they made all the decisions a while ago. They are just sending them out really slowly.
Richard says
A happy new year to everyone like myself still waiting for an outcome, let’s hope by the end of January this complete shambles will all be over, and also a big thanks to Sara for all her advice over the past year.
Laurie Wright says
HNY, still waiting here. Very frustrating as I would have thought mine were straight forward, all loans paid in full and guarantor never had to make payment :/
L says
I’d ring them, I’d not heard anything and my decision had been sent elsewhere in September and I rang them in November and it was re issued.
Daryl says
I emailed them this morning asking if there is any update as they told me I’d hear by the end of 2023 but still haven’t. Let’s see if I get a response from them or not. All I want to know right now is if I am getting anything back and how much, then I can worry about when I will get it, but just knowing will be a huge benefit!
Frank says
Hi sara
Happy new year.
My question is this my guarantor has received their decision. And their settlement figure. However when they forwarded their e mail for me to read. The loan mentioned it the settlement. Was an original that was some 4 months later topped up
There is no mention of the top up loan. I thought that when we topped up that loan was paid off and it’s like starting a new loan. Is my thinking right in this.
Sara (Debt Camel) says
Yes the top up loan is a separate loan.
Your guarantor made some payments to the top up loam. But did they make any payments to the original loan?
Frank says
To be honest sara. I have no idea they may have made 1 or 2 payments. But I couldn’t be sure. Going back to 2018.
Until I receive my outcome. And what they say. I wouldn’t know. However I am a little confused as to why they mention the original and not the top up loan as being the one they agreed to release to my guarantor from.
Sara (Debt Camel) says
have they said they have agreed to release the guarantor from the current loan? Either in their decision or seperately, to you or to the guarantor?
Frank says
They have said clearly that my guarantor has been released in an outcome e mail to them. However they only mention the original loan and not the top up.
Sara (Debt Camel) says
So from the financial point of view, the guarantor will only get any refunds if they have made a payments to that loan.
From the point of view of beling released, that only applies to the second top up loan, not the original one.
Frank says
Thanks Sara.
Just one more quick question. Do you know if they are still taking all loans taken through amigo into account or just the one complained about,
Sara (Debt Camel) says
I don’t know – why did you only complain about one?
Frank says
Yes but I seem to remember when I first put the complaint in. they said that they would be looking at all the loans, I had through them. It doesn’t really matter that much. It looks like they may uphold my complaint, given the guarantor situation and the fact that they have corrected my credit file. Fingers crossed. It’s just taking so long.
Thanks once again for all your info and hard work.
Victoria says
Can someone please help me understand I’m dyslexic dyspraxia. and this has me round the bend.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
11102801 £5,000.00 36 04/03/2013
13786548 £5,000.00 60 13/12/2013
35447819 £7,500.00 48 20/02/2017
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£15,135.49 £0.00 £0.00 £15,135.49
Cash Claim Value £14,891.54
8% Compensation £5,451.27
Non-affordability redress £30.00
Total Cash Claim Value £20,372.81
Sara (Debt Camel) says
You should get a percentage, probably about 17%, of the Total Cash Claim Value £20,372.81
So that is likely to be about £3,450. It will be paid in two instalments next year. the first one will be larger.
Daryl says
Still waiting for my response letter, feel like I may find out by 2025 at this rate haha!
But for those who are owed something, do we know how long the first payments will take to receive? Is it 3-5 days or is it going to be something stupid like 4-6 weeks?
Sara (Debt Camel) says
We don’t know when the first payments will be made. Nor if amigo will pay everyone at the same time or spread over a few days or weeks.
Dave says
Thanks for all your help on this Sara.
Despite having my loan taken off my credit file still no outcome letter or email from Amigo… so much for end of 2023.
I still have c.£1300 to pay on my initial £10k loan do you think it is worth forcing their hand to hurry up and make a decision by telling them I want to do Equitable set off? Or is it best to just keep paying the monthly payments of £395?
Thanks
Sara (Debt Camel) says
Do you mean that when the interest is removed you think there will still be a balance of £1300 remaining?
Dave says
No sorry that is my total outstanding amount on my original loan… just wondered if you would advice to continue paying it or do equitable set off.
Sara (Debt Camel) says
I think you should phone Amigo up and ask if you can stop paying. Amigo has told many people in similar situations that they can, but its communications often seem rather random.
helen says
Hi everyone.. I’ve been waiting email from amigo for ages and ages. I check everyday, however I decided to log into scheme portal today and there it was my claim decision. I have not received any email ( checked junk/spam too).
So may be worth those who haven’t received emails to log into the portal.
Marta says
Hi Helen,
Can I please check with you how you login to the portal? it’s simply by login online to your amigo account?
helen says
http://www.amigoscheme.co.uk
That’s the link
Marta says
Thank you so much Helen!
Dm says
Hi Sara, just wondering if you had seen any instances where the loan(s) had been removed from the credit report and then had a claim rejected?
Sara (Debt Camel) says
No. But I just don’t like saying at this stage that you will definitely be ok.
Jane Blue says
Sara (Debt Camel)
Remember to leave a donations link at your the top of the page so I can send in a token of my appreciation when the full refund gets deposited.
Thanks for you help!
Sara (Debt Camel) says
Please send any small donation to your local Citzens Advice or food bank.
Lis says
Hi Sara; hope you are well.
I had a loan with amigo then I topped up.
I got an email a few weeks ago saying to stop paying etc I am already on ESO. No final response as of yet. I’ve checked my credit file and it only shows Amigo loans for the first loan and that it’s paid off. Nothing about the second loan at all. It’s the first time I’ve checked my credit file in years I only done so after looking on here and seen people talking about there’s. Could it be the top up loan was upheld and removed?
Sara (Debt Camel) says
That sounds a likely explanation.
Nisa says
Hello
I have had 3 loads totalled up to £20k all paid on time with no issues. In total how much readdress am I likely to get.
Sara (Debt Camel) says
That depends how much interest you paid. It is impossible to guess that unless you know the details of what you paid to each of your three loans.
Chris richardson says
Has anybody received a payment or final decision ?
Maureen says
I only had 1 payment left 31st December when I was told not to pay the loan has been removed from my credit file however it is now showing as in arrears on Amigo should I make that payment.
Sara (Debt Camel) says
No.
When amigo told you not to make the payment, they should have warned you that the account will show as in arrears.
Maureen Walton says
Thankyou for the reply I probably didn’t read rhe email properly, personally I would have preferred to make that final payment after paying for 47 months and not going into ESO.
Sara (Debt Camel) says
Yes but Amigo want you to stop paying. Every payment someone makes at this late stage means they have to recalculate the numbers. Stopping paying will not affect your credit record nor your guarantor.
Maureen says
Many thanks for all the help and advice you have provided for everyone.
Emma says
Hi Sara I just need a bit of help to breakdown what this actually means as I’m confused by the different amounts shown. And what does set off agreement refund mean. Please see below what I was sent. Hope you can help me. Thank you
Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived £3,782.20
8% compensation £63.04
Claim value £3,845.24
Cash claim value £854.80
Total cash claim value £917.84
Total Agreement Set Off Refunds
Refund value £2,927.40
8% compensation £164.03
8% compensation tax £32.80
You have an outstanding refund of £3,058.63
In order to pay the redress owed please provide us with your bank details on the next page.
Sara (Debt Camel) says
Claim value £3,845.24 This is what they work out your total redress for the missold loan would have been if there was no scheme
It is being paid in two parts.
More recent payments are being refunded IN FULL – that is the number here: You have an outstanding refund of £3,058.63
The older payments will be refunded at a percentage, probably about 17% – that is this amount Total cash claim value £917.84
(You will see those two numbers don’t quite add up to what I said the total was – that is because the 8% calculations and tax aren’t charged in the same way on the two different ways the refund is being paid.)
Emma says
Hi Sara
Thanks for the reply. Just one more question how did they get the figure £917.84 if the claim value is £3845.24
Sara (Debt Camel) says
Because a large chunk of that claim value is being paid out in the full refund part.
Laura Miller says
I have received an outcome on my loans & top ups. One has been agreed and the other 2 haven’t. I have accepted 1 outcome and rejected 2, will the accepted outcome be held until they have made a decision on my appeals?
Sara (Debt Camel) says
The simple thing for amigo to do would be to pay out on the upheld loan as normal and then just make an extra manual payment if the appeal succeeds.
But they could have come up with a more complicated way to handle this.
Samantha Thornton says
How are amigo going to start making payments in January when like me some people haven’t even got their final decision letters.
Sara (Debt Camel) says
Well in theory they don’t have to have sent out all the letters as they could be planning to pay people in batches, starting with those who have had the letters.
Becca says
But then how will they know to pay 17%. Surely all letters should be distributed and then payments commence! This scheme gets more unfair by the day.
Sara (Debt Camel) says
because the first payment will be an instalment, not the whole 17p. They will be able to safely pay 12p then 5p (I just made those numbers up) because they have gone through enough cases and enough appeals to have a very good idea where the numbers will end up.
Becca says
I rang them and the lady I spoke to said, no payments will be made until all decisions have been issued!
She also said that a removal from credit file does mean an upheld or partial decision.
Sara (Debt Camel) says
If I had £1 for every assertion I have heard of from Amigo customer services I would be very rich…
SNA says
I spoke to a very helpful lady yesterday. She let slip that the first payment would be 14p in the £ and the second, the balance 3p or whatever Amigo decide once they have wound up. Not sure how much of this is true. She also said that there was no set way in which funds would be paid out but she was adamant payments would begin at the end of the month and that the information on Amigos website would be updated mid month to confirm this. Watch this space 🤷🏻♀️
Sara (Debt Camel) says
i would be surprised if customer services staff have been told what the first payments will be..But yes, the firt one will be higher. Where on the 10-7 to 15-2 spectrum Amigo pick, I have no idea.
Vicky says
Hi had a email stating that they have upheld my account and not to pay anymore payments and cancel my dd ,they have taken everything off my clear score, will I still be getting a refund or clearing my loan will that be the refund 🥹
Sara (Debt Camel) says
This will usually mean that you will also get some cash refund. It is theoretically possible that the refund is exactly the right size to clear the balance and no extra is owed, but it would be pretty unusual.
Daryl says
Still no response yet, but when it comes to the repayments will the “FULL REFUNDS” be paid in full within the first payments? Or will they be broken down as well like the 10-7 / 15-2 spectrum?
Sara (Debt Camel) says
I expect (and this is just me guessing) that the full refund part will be paid in full, not in installments.
Whether it is bundled in to the the first installment of the 17% or is separate from that, I have no idea.
Daryl says
Thanks, Sara.
And if we don’t hear about our response by the end of January, do you recommend we call to chase Amigo?
Sara (Debt Camel) says
well lets see how things go.
Pam says
I contacted amigo just to verify the details they sent me about my full refund and they advised the refund will be paid in full in one payment and will be paid late jan/early February.
Daryl says
Thanks, Pam!
That would be great if that is the case. Can’t wait for it all to be over and for us all to hopefully get something back from them!
Be interesting to know what the highest amount paid out is once it is all sorted.
Margaret says
I received email but still not had outcome, they said they still have 120000 cases to get through and no one will be paid until these are all done
Sara (Debt Camel) says
120,000 doesn’t sound right at all.
Margaret says
Sorry I read older email the one this morning was they have issued 149,000 letters so far and no money will be paid till rest of letters are emailed and could possibly take till end of Jan to issue these, I do apologise
E says
Yeah they’ve still got about 60,000 to get through
Louise says
Hi please can anyone help?
I made an initial unaffordable complaint in Dec 2020 while still owing part of my 3 loans with Amigo. 4 months later in April 2024 I made the last payment. While my mortgage remained in arrears. 3 top ups later :(
I have had a final decision letter on 21st dec 2023 stating a ‘total borrower refund’ along with redress and 8 per cent etc like everyone else. However they have added on in the letter that the ‘affordability ‘ was made in error and they accept that it was the wrong decision made on all 3 loans. And that this is separate to the ‘scheme ‘ does this mean I’m now owed the interest on the loans? Many thanks
Sara (Debt Camel) says
And that this is separate to the ‘scheme ‘
Can you copy in the section from the decision saying this please?
Louise says
Below you’ll learn of the outcome of this claim, and the reasoning behind it.
Your Scheme Claim
We understand that you have raised a claim about the loan agreement(s) you entered into with Amigo. You claim that we should not have accepted your application, as you could not afford to sustainably repay the loan(s). We have provided details of the loan agreement(s) you chose to claim about, and that we have investigated at the end of this letter.
Our Decision
We have carefully considered the information available on Amigo’s systems, and any supporting information provided in support of your claim. Based on this information and the Scheme methodology, we have concluded that we cannot be confident that the loan agreement(s) was affordable for you at the time it was entered into. Therefore, your claim has been upheld.
This means that SchemeCo will accept your claim in the Scheme in respect of the loan agreement(s) shown in the appendix.
Our decision comes without prejudice to any future position on this, or in any other case.
Redress
As your loan agreement(s) is already settled and closed, any redress due to you will be eligible
In addition to the Affordability concerns addressed above, you have also raised a Non-Affordability claim within the Scheme. This claim relates to matters that are separate to the sale of your Amigo loan, or the ability to repay this.
Sara (Debt Camel) says
so they are saying you made some other complaint as well as the affordability complaint. Do you remember what that was? it could have been that you were complaining about your credit record? or that you were coerced into taking the loan? or… ???
Louise says
Sorry Sara I couldn’t post all of it as was too long. I will send in the Appendices box breakdown next. Also apologies as I meant to type loan paid up in April 2021. I raised a complaint on 14th December 2020 using a template with resolver
Many thanks – Louise
Louise says
I made a complaint in Jan 2020 I think as I had missed just 1 payment in 4 years and they pressured me within just 2 weeks to pay it or they’d go to my guarantee I was so embarrassed so I missed my mortgage to pay it. Then months later I used Resolver to complain about unaffordability
Thank you Sara I’ll post the appendices box now of the figures. I had to agree I’m not allowed to use the financial ombudsman as I used an independent free company to complain in 2020 ( Resolver )
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
36700053 £2,500.00 36 15/06/2017
38235523 £4,250.00 36 29/09/2017
41186195 £5,750.00 36 05/04/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£5,367.40 £0.00 £0.00 £5,367.40
Cash Claim Value £5,367.40
8% Compensation £840.36
Non-affordability redress £30.00
Total Cash Claim Value £6,237.76
Total Borrower Refund = The interest and fees owed to you, once the Loan Amount has been paid.
Sara (Debt Camel) says
If you mentioned that you were pressured into making a payments you could not afford, that could be the “other compla8int”
It may be that this line:
“Non-affordability redress £30.00”
is what they offering for that.
If you feel that is insufficient. you need to dispute the decision and explain why it should be more.
Sara (Debt Camel) says
While you are waiting for a decision, or for a payout, why not look at whether you can make other affordability complaints?
This week I have seen decisions against Natwest (overdraft), Capital One, Aqua, and Advantage Finaince (car finance) and it’s only Thursday morning!
You can win these claims if you have never missed a payment. And these claims are paid out in full, unlike the Amigo Scheme.
See https://debtcamel.co.uk/tag/refunds/ which has template letters for the different sorts of debts and explains how to use them.
David says
Hi all , HNY to everyone.
I would just like to add I have recently had sucess with an Affordability claim against BAMBOO loans. 3 loans all up held.
Sara (Debt Camel) says
yes they lose a LOT of claims.
Mike says
Morning Sara,
First of all i would like to thank you for your hard work and dedication in replying to everyone you can, and explaining things to us in a simple way!
I’ve just received my claim, and thankfully it has been upheld….
Please can you explain these figures. I know it’ll be approx 17p to the Total Cash Claim Value £6365.55 (£1082.00), but the Total agreement set off refunds of £5213.93 will that be paid in full?
So should receive £ 6295.00 ish???
Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived £10,598.52
8% compensation £766.97
Claim value £11,365.49
Cash claim value £5,598.58
Total cash claim value £6,365.55
Total Agreement Set Off Refunds
Refund value £4,999.94
8% compensation £267.49
8% compensation tax £53.50
You have an outstanding refund of £5,213.93
Sara (Debt Camel) says
I know it’ll be approx 17p to the Total Cash Claim Value £6365.55 (£1082.00), but the Total agreement set off refunds of £5213.93 will that be paid in full?
yes
So should receive £ 6295.00 ish???
yes
Daniel Green says
Hi Sara
I still haven’t had my response letter from amigo do we have any idea when those who haven’t had a answer yet will get a response please?
Daniel
Sara (Debt Camel) says
no… well it should be this month, but…
David says
Sara just to add , how far can you go back please for an affordability claim?
Would the lead up to 2012 be too far back?
Thanks in advance
Sara (Debt Camel) says
this is for a claim for a non Amigo debt? What sort, when did it start and when did it end/defualt, or is there still a balance?
David says
Thanks for your replay Sara,
This is a Capital one credit card account.
Early in 2012 I threw the towel in and put all my debt on to a DMP. I still have only 4 creditors left from an original 12 . I managed to have some success with around 30p in the pound removing most. It still has a balance of around £1200 to pay Capital one. Paying £50 a month DMP between the 4 remaining creditors.
I recently have this Bamboo redress that Im considering offering say another 30p in the pound to clear one or two more creditors . But I do think I was treated unfairly by Capital One in regards to defaulting my account so early. They also kept raising my credit limit which would be the grounds for my complaint.
Thanks
Sara (Debt Camel) says
Those are very old debts to try to win affordability complaints about. Unless you have your bank statements going back a long way there may be no evidence abd your situation.
When was the Cap One account opened? It hasn’t been sold to a debt collector? You may have other options…
David says
I’m not sure when the account was opened , sorry
My remainers on the DMP total
1300, 800 , 475 and 180.
The debt is still controlled by Capital one. It moved to debt collectors at same stage in its life but is back with Cap One. Other 3 are with collecting agencies but I have had previous both of those in recent tjmes with them helping me in execpting between 28p and 30p in the pound when j have come into previous one off sums of cash. I also feel they will take offers
Especially as now I have paid a big percentage of the debt if full.
But I would like to start an affordability claim against Capital one . I have since eead that the Obsbusman would entertain claims after 2007 if that’s correct? Thanks
Sara (Debt Camel) says
There are two problems with very old affordability complaints.
The first is whether the Ombudsman will agree to look at them – the FOS decisions here for old credit card complaints are simply erratic, I can’t predict what they will do.
The second is that there may simply be no evidence of what your finances were like back then. Your credit record will not be of any help. Unless you have your bank statements for 2007-2012 you ,ay have little or no chance with this even if the Ombudsman agrees to look at it.
But it is pretty unusual for Cap One not to have sold this debt to a debt collector. One possible reason is that they don’t have the paperwork for the debt… in which case if you ask them to produce the CCA agreement for the debt they may not be able to. Then the debt is unenforceable in court and you can simply stop paying. See https://debtcamel.co.uk/ask-cca-agreement-for-debt/
So I cant say you will definitely lose an affordability complaint nor that you will definitely get the debt declared unenforceable by asking for the CCA – but in my experience the odds favour the latter.
Lisa G says
Hi Sara, I’ve received my claim outcome. Before I accept can I just check the figures with you?
Summary agreement claims values:
Interest waived: £13,715
8% compensation: £462.57
Claim value: £14,177.57
Cash claim value: £3833.75
Total cash claim value: £4296.32
Agreement claims values:
Interest waived: £13,715
8% compensation: £462.57
Claim value: £14,177.57
Agreement set off refunds:
Refund of payments made: £9881.25
8% compensation: £0
8% compensation tax: £0
Claim value: £9881.25
So if I’m correct I will get a full refund of £9881.25 and 17p of £4296.32?
Sara (Debt Camel) says
do you have a current loan?
Lisa G says
No. No current loan. I only had this one loan with them which was repaid.
Sara (Debt Camel) says
When did you last make a payment to Amigo? When did you make a complaint?
I am asking this as I don’t understand why the 8% statutory interest hasn’t been added to the full refund part…
Lisa G says
Ok… umm… I had a 10K loan in 2018 for 5 years. Out of the 60 payments of £395.25 i paid 37 of them totalling £14,624.25.
I complained in September 2021 and went into ESO.
I then repaid the balance in one lump sum of £9881.25 in March 2022.
Sara (Debt Camel) says
It looks to me as though Amigo thinks you only made 35 payments before going into ESO? Can you check your bank statements? You didnt take a break during covid at all?
If you are sure you made 37 payments then “Interest waived: £13,715” is wrong – it should be the total of your payments plus the settlement less the 10k borrowed.
Also they should be paying you 8% interest on the final settlement refund value. which will come to over a thousand… So this needs to be challenged on that bases, even if on checking you did only make 35 payments.
Lisa G says
Ok perfect – I’ll check my payments and get back to them… it is possible I only made 35 and not 37 but I’ll check. And I’ll get back to them on the 8% interest. Thank you :)
Lisa G says
Ok… They are correct – I did make 35 payments and not 37… but I’ve rejected my claim and asked them to look into the 8% interest on the figure of £9881.25. It’s a lot to miss out on if they’ve miscalculated or missed this by accident. Thanks for your help Sara.
Daniel says
Hi Sara,
Can you help me with the outcome I have received please?
Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived – £10,005.76
8% compensation – £68.66
Claim value – £10,074.42
Cash claim value – £659.25
Total cash claim value – £727.91
Total Agreement Set Off Refunds
Refund value – £9,346.51
8% compensation – £596.89
8% compensation tax – £119.38
You have an outstanding refund of £9,824.02
Does this mean I will receive a refund of 17p in the £1 of £721.91 = £123.74 for the total cash claim value?
And a total refund of £9824.02?
Thanks.
Sara (Debt Camel) says
Does this mean I will receive a refund of 17p in the £1 of £721.91 = £123.74 for the total cash claim value?
yes
And a total refund of £9824.02?
That is the part of the refund that is being paid in full. So you will get that plus the part paid at 17%
Daniel says
Thank you for the reply Sara,
So it will be an approx. total of £9947.76 to be paid? will it be paid in full or should I expect it to be paid in separate payments?
Sara (Debt Camel) says
The 9824 is likely to be paid as a single payment (although Amigo have not confirmed this).
The £123 for the 17% part is likely to paid in two installments, the first one will be larger.
Vicky says
Hi my claim has been upheld and they told me to cancel my DD and make no more payments, does this still mean I could get some form of payment back from them even though they have stopped all payments from me and cleared my clear score
Sara (Debt Camel) says
have you had a decision in writing or were you just told this on the phone?
Vicky says
I had an email
Sara (Debt Camel) says
but the email wasnt a decision? there were no numbers for your claim?
You may well still get some refund as well as having the balance wiped.
Vicky says
Yeah the email just said they have wiped the account and no more funds to be paid as this happened to anyone else , and have they had any refunds to , thanks Sara
Sara (Debt Camel) says
Did you have more than 1 loan?
Do you know the numbers for the last loan – what did you borrow and how much have you paid to it so far?
Martin says
Hello Sara
Got my letter this morning
Can you help me dissect?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
WSF2784497 £3,000.00 36 13/10/2009
25026827 £3,750.00 24 15/05/2015
31287225 £4,750.00 36 21/09/2016
38493177 £5,000.00 24 16/10/2017
42397954 £5,000.00 24 21/06/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£9,458.78 £30.00 £0.00 £9,488.78
Cash Claim Value £9,488.78
8% Compensation £3,663.40
Total Cash Claim Value £13,152.18
Sara (Debt Camel) says
You will get back about 17% of the Total Cash Claim Value £13,152 – so about £2,200/
Andrea says
What happens if you entered since in an IVA?
Sara (Debt Camel) says
you are a borrower? and your Amigo debt is included in an IVA? How large were the debts going into the IVA and how large was the Amigo debt? How much are you paying a month to the IVA ?
David says
That’s great . Thank you Sara,
I will look over this option and go through the link you sent.
My DMP summary definitely appears as Capital One still as opposed to the likes of Lowells etc. But I can see it went to Fredricksons at some stage and then back again?
I will give them a call and request the CCA.
Thanks very much for all your time and your guidance on the points of consumer law is greatly appreciated
Sara (Debt Camel) says
dont phone them – that link I gave has a link to set template you should use.
Steven says
Sara
Just to confirm if I had 3/4 top ups to 10k, I paid 10k back had 10k waived, is there zero chance of any cash compensation at all?
Sara (Debt Camel) says
Have you had the decision? Have all loans been upheld? Can you copy the numbers in here?
Susan says
I have had my claim upheld but my son whose loan it was hasn’t?
He was in a worse financial position than me when they gave him the loan so don’t understand
Is anybody else in same position?
Sara (Debt Camel) says
Has he appealed this. Is there still a balance on the loan? Did you make any payments to it?
Sandra Simpson says
Hi Sara
Read some of the comments
Some off our amgio friends received their outcome, I am still waiting for my outcome
Sandra