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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Shane says
Hello, my last correspondence from Amigo regarding my claim stated it is still investigating my claim (Sept) – would this explain why my repayments on my current loan are still accruing interest? I’ve seen it mentioned repayments to amigo are going to an account without interest where they could be refunded. I’ve had amigo for about 5 years with 2 top up loans and thought I had made an initial claim in 2021, but the portal or comms from Amigo didn’t give me much confidence to suggest anything had been logged properly so I made another unaffordability claim In June (which is what they are investigating I guess) however it wasn’t very detailed from me about the struggles with this loan over the years..
I am at the end of my loan now I’m pleased to say – it should be last payment this month (£427.75!!) but with interest adding up and debit amount I’ll still owe them about £3 – sense would say just clear that off and be done with it but would my claim be affected if my loan is settled end of this month?
Sara (Debt Camel) says
repayments to amigo are going to an account without interest
I don’t know what this sentence means, it doesn’t sound right.
would my claim be affected if my loan is settled end of this month
No. An affordability complaint is assessed at your position when you took the loan, it doesn’t matter if you later manage to pay it off.
Have you got a copy of your bank statements from 3 months before the loan to 3 months afterwards? If not, get them now. You could send them to Amigo as evidence.
Lisa says
I have a question I got compensation for a amigo loan I was guarantor for it but the borrower got a letter saying she now owns the money can she get it ritenoff or claim aswell
Sara (Debt Camel) says
yes if the loan was not affordable for her, then she should make a claim. And quickly as there are only a couple more weeks to go!
AmigoAmigoYeeHa says
Questioned Amigo today regarding the date they are claiming that claims have been submitted.
They have stated:
“The reason why is states ‘a claim was made on the 23rd August @ 1pm’ on your online portal is because we automatically transferred your existing claim into the Scheme of Arrangement at this time.
We completed this process in batch, therefore, this date and time would be the same for other claimants too.”
I’m just amazed at how now when I sign into Amigo there is an agreement number and full statement of account when previously requested under SAR/GDPR they said it had been deleted
So people who have made a claim but don’t have their details – try logging into the Amigo portal (not the claim one) and you should hopefully see some account history
Shaun says
Hi Sara, I have a reduced payment arrangement with amigo and also made an affordability complaint in the new scheme. Question is will they give me a CCJ as they keep recording late payments and there is now 6 of them? If let’s say they agreed to my affordability complaint beginning of the year, when will they wipe out these records off my credit file. Thank you
Sara (Debt Camel) says
They will NOT start court proceedings for a CCJ until your claim has been decided in the Scheme, including any appeal. We don’t know yet what their plans are for people who lose their claim but if you are paying an affordable amount I would hope they will not rush to court.
We don’t know what the times les are for correcting peoples credit records. They are unlikely to do this one by one as they decide the claims, they are more likely to batch them up into groups. Many administrators leave it and do them all in one group which would be not for many months.
carlos says
Hi,
has anyone tried to log into the claims site? all im getting is welcome back welcome to amigo loans nothing else?
Mark says
Exact same here! Tried today (January 12th ‘23) and got exact same :(
Milena says
Hi its all we will get for now. If you scroll down there will be message under Your claim outcome – will be information about your claim. Mine says ” you have not received final response yet”. Which means I still have to wait. Hope that helps.
L says
Hello to anyone who may see this now,
I know I posed a similar question before but it’s been a while and the scheme is closing. Is anyone else nervous about applying to the scheme?
I had first set of loans 2008-2015 (including FLM). Ombudsman upheld the amigo portion of the loans but amigo set scheme so didn’t need to pay these out. Of the 16k they owed they paid 2k.
Second set of loans 2017-2020. Amigo upheld these loans, debt was paid off.
I’m worried to apply to the scheme because my credit file has been sorted (massive relief) and despite being 14k out of pocket, we have no idea how the new process is going to work and amigo are the most underhand, dodgy company out there who I believe will try all tactics. So if they decide their original decision was wrong, do I owe again?
I’m not sure it’s a stress worth it?
It took over 100 emails for them to even do what they should have (correcting my file) after upholding the latest loans last time, and I just couldn’t go through that again.
I’m not sure if for me it’s best to let sleeping beasts lie.
Sara (Debt Camel) says
there isn’t any way they are going to reverse previous decisions. Up to you if you just want to move on and not bother with the older loans.
L says
Thanks, Sara. Think I’m just so nervous with Amigo, having been through so much with them and them acting, essentially, illegally in my case despite being told not to.
I’ll have a think about it. I know I’ve only got a few more days.
Can I just check. Say there’s a situation where they agree the original decision but now say I owe uncharged interest, which then shows they “paid out” more than I owe in unpaid interest, do you think they could get me owing again that way?
Sorry if you’re already been asked this!
Sara (Debt Camel) says
I don’t think they can agree with their original decision but now say you owe them money. That would not be reasonable.
L says
Thanks, Sara. Weirdly, none of my 15 FLM loans were there?! I still have the agreement numbers for some of them, so that’s thousands on its own. Annoying.
Anyhoo, fingers crossed. Thanks as ever for everything.
C says
Hi
I had a loan back in 2017 for 3k paid it for some time and them topped up by another 4k and had to change guarantor because old one would be it anymore. I paid it for about 5-6 months and was becoming too much if an issue to keep up with payments and the guarantor who is my cousin agreed to pay it off and i owed him the money after. Would you reckon ill still have a claim even though we paid it off after 5-6 months ?
Thanks
Sara (Debt Camel) says
Yes. Your claim is that you could not afford the repayments. Th3 fact your guarantor could is not relevant. Who actually paid the money to Amigo, you or your guarantor?
C says
The guarantor paid with hes card
Sara (Debt Camel) says
You need to make a claim that the first loan was unaffordable for you and that the second one was two.
I suggest that the second guarantor should also make a claim – that the loan was unaffordable for you so the the loan should never have been given. In theory this shouldn’t be needed, but it seems as well to make both claims to the scheme.
Winnie says
Hi – I understand from reading the above that it is not necessary to submit evidence. However, if I wanted to provide some additional information, it says under the ‘Make a Claim’ section that I would need to contact Amigo using the details on their contact page. I’m assuming they will ask me to email them any evidence?
Does anybody know if the deadline is midnight on Saturday 26 November, or an earlier time?
Thanks
Sara (Debt Camel) says
I assume midnight as no time is given.
Yes I assume they will take evidence by email
But I suggest you get the claim in today in case there are any problems.
Winnie says
Hi Sara – Thanks for replying. I just rang Amigo, and the following information might help others. My claim has already been raised in February 2022, so I don’t need to do anything else via the website. The deadline to submit a claim via the website is midnight on 26 November, although at the moment there is an error message appearing on the website if trying to click on the ‘make a claim’ button. The adviser I spoke to said that evidence can be emailed to them after tomorrow’s deadline, and they don’t actually have a deadline for evidence to be sent to them, although it’s advisable to do it sooner rather than later.
Sara (Debt Camel) says
That all sounds very sensible. It would not be reasonable for them to have a deadline for submitting evidence.
Rebecca says
Hi – can you please help me on how to make a claim.
I have fallen behind with my payments and it’s really worrying me.
Your help would be appreciated as I know its deadline is tomorrow.
Thank you
Sara (Debt Camel) says
See the How to make a claim section in the article above.
Ruth says
Best of luck everyone on the next stage of the Amigo waiting game now!
Jo jo says
I wonder when people will start to hear if any off their loans are being upheld xx
Sarah says
I was wondering this. Does anyone have any idea?
Dom says
It is expected that Amigo will be agreeing claims in the first half of 2023 and that the first payments may be made in late 2023.
Craig says
Anyone recicved a letter about outcome of amigo? Apprently amigo are saying some people been sent there letters
Jo says
I’m still waiting I bought no one would get letters until next year , but I’d love to know if anyone has received letters
AmigoAmigoYeeHa says
The details on the website were updated 27th November to the information you see relating to letters have been sent.
You need to make sure that your contact information is upto date, as letters will be sent within an email to the address on the Amigo account.
Within the notification page, it states how you can change your information.
Jo says
Yeah I just rang them the guy I was speaking to said people receiving letters 1st will be one r r likely to be unsuccessful (here’s hoping I don’t hear soon ) he also said they have been looking at claims flat out and there is a large amount of claims . He said most people won’t get letters til the new year xx
AmigoAmigoYeeHa says
I’m unsure how they can actually say a claim is unsuccessful.
Their whole business model is based upon people who are desprate for a loan, as it’s a Guarantor loan.
if you had a decent credit rating you’d approach a main stream lender.
I’ve checked and obtained banking statements before and on the days it was taken out, also credit reports which show that multiple payday loans where already recorded and open on my account.
Be interesting what they do say reasons are for unsuccessful claims
Craig says
Be about time they looked at it seems unfair we gotta keep paying while they drag there feet feel they should not be allowed to relend till they sorted this they may move a lot faster
Jo says
Totally agree my credit rating was low with multiple payday loans and they kept topping up my loan knowing I had major back surgery and had to leave work .I’ve paid them nearly 30 000 In interest and I’m a single mum honestly I’m a nervous wreck with it all
Louise Marriott says
I’m handling my sisters claim on her behalf and got an email the other day just saying it is still being looked into and to expect a decision early next year.
As yet my sister hasn’t been called on to make any payments so there is no refund to be calculated. Her claim against GuarentorMyLoan was upheld and they went after the borrower for full payment.
In Amigo Loans case all the details unearthed during the investigation of the other claim have been passed onto them and I hope they will also drop it like a hot brick and release her from the contract.
L says
Has anyone had problems uploading additional documents? Feel a bit sick, spent time getting everything together, logged on today (three weeks is up tomorrow) to upload and all I can do is change my bank details. The documents I have are indisputable proof.
Please help!
Sara (Debt Camel) says
email them today and attache the docs to the email. Say you have been unable to upload them
L says
Thanks, Sara. Especially for replying on Sunday. I’ve emailed them to ask how I can send them but if they don’t reply tomorrow, I’ll just send another email with them attached.
Hmmm says
Interestingly, I’ve just had an update on credit file that my Amigo loan has been closed. Non payment to them for about a year. I’ve not yet have an update on my claim either by email or in the portal. Is it likely they’ve looked at my claim, and its been successful?
Sara (Debt Camel) says
I don’t know. Fingers crossed for you!
Ruth says
Out of interest.. when did you originally submit a complaint? I submitted 2.5years ago so really hoping the scheme addresses that when replying 😂🤞
Sara (Debt Camel) says
so far as I know, the date a complaint was submitted has no relevance to when it will be considered in the Scheme.
Ruth says
Ah well, I’ve waited this long!
AmigoAmigoYeeHa says
Ruth.
Go to Amigoloans website (not the scheme one) and login.
You should be ae.to retrieve an upto date statement that will state all transactions
Jo says
This would be interesting how I’d like to know where u on a set off from your payments xx
Ruth says
Not sure who knows this (I’ve only just seen it), but if you log on to this link https://www.amigoscheme.co.uk/claim it will tell you if you’ve been sent a final response letter yet (bottom left of the page when logging in). I haven’t unfortunately, but with all the postal strikes it’s hand to look there first!
IainHL says
The Royal Mail workers’ strikes will not have any effect on your receipt of your final response letter. From scheme claim website:
“All communication we will send will be by email. Please login to your online account with Amigo and ensure that your contact details are accurate and up to date.”
Helen says
Hello Sara
Thankyou for all your helpful advice over the months wishing you very Happy Christmas x
Helen x
Sara (Debt Camel) says
Thanks – and to you too, and all the other Amigo claimants.
James C says
I’m quite glad that I had raised my affordability complaint prior to this going to a scheme of arrangement. I received just over £12,000 back (all interest + simple 8%). They upheld my complaint on the top up loan but not my original loan. As I had accepted the upholding of my 2nd loan, would this now mean that as I accepted it would have been pointless entering the scheme? I wasn’t sure if this would then be double checked and there may be a possibility of my first been upheld?
I know that as they upheld my top up loan, this is done and dusted. But will they most probably come back saying that I accepted there offer so no further consideration would be taken on the original loan?
Sara (Debt Camel) says
No you could have made a claim and the first loan may have been refunded. But it is now too late to do this.
Jo says
Has anyone heard anything back from amigo yet
Kyle says
Nope. Probably won’t hear back from them until mid next year tbf.
Ramo says
Amigo is refusing to default my loan.
The last payment I made was in 2018 and since then they report late payments every month.
Shouldn’t they mark it as default 6 months from the last payment I made?
Sara (Debt Camel) says
Yes they should. Have you made a claim to the Amigo scheme?
Ramo says
Yes but nothing happened.
And they keep on trashing my report every month
Sara (Debt Camel) says
So wait until your claim is resolved. If it is upheld all negative marks are removed from your credit record. Your credit record will get worse, not better, if they change the arrears to a default (although the record will be clear sooner with a default).
Emma says
Hi, I’ve received a credit file update this morning. And amigo loans has been removed from my credit file. I had my loan taken out in august 2016, is this due to the passing of my loan for the years passing or will this be due to my redress claim?
Thank you :)
Sara (Debt Camel) says
Unless you settled or defaulted the loan at the end of 2016, it should not have dropped off. amigo must have deleted it, I hope that is good news about your claim but it could be some error.
Ramo says
Hi!
Hope that is good news!
Quick question… did Amigo mark your loan as defaulted or were they reporting late payment every month?
Thanks
Ruth says
Oh that would be amazing, fingers crossed for you! Keep us updated!!!
Jo says
I still haven’t heard a thing from amigo it’s becoming a joke now think they need to let people know soon to stop a lot of worry hanging over peoples heads xx
ed says
Hi where do i stand with regards to my guarantor being accepted even though he was not in employment due to ill health with Parkinsons, they knew this and he has now sadly passed away. Surely they should not have accepted a person in his condition? He also ended up in a care home and they still used to contact him knowing how ill he was and that he could not speak. I never had him pay anything but if ever i was late they would let him know, usually his carer would see the details. I also used my funds for gambling would this be an acceptable excuse should my loan refund be turned down? Or should i just stick to the debts i ran up?
Sara (Debt Camel) says
As your guarantor has died, this is no longer a guarantor loan, it is the same as any other loan.
Your guarantor’s problems are not a reason for you to win your claim.
What other debts do you have at the moment? Are you struggling to pay Amigo?
Shah says
Hi Sara,
Due to the address change, I did not receive any letters from Amigo, I was unaware of the court decision made in May 2022 about Claim Scheme, therefore I could not manage to claim in the recent scheme on time. I have to pay £3702 to Amigo; I did not pay any payment since May 2020, It is still on my credit file and the account does not default but shows missed payment. Shall I wait for the claims decision or talk to amigo to make a payment plan with them? please suggest the best solution. Regards
Sara (Debt Camel) says
have you ever made a complaint to them? It is unusual for them to just forget about a debt. Have they never contacted your guarantor?
What is your current financial situation like? Do you have other problem debts?
Ed B says
What can someone do if they have missed the deadline but still have a good claim for unaffordable lending? Is there still recourse to Ombudsman? Should a complaint still be made to Amigo? Not sure what to do now.
Sara (Debt Camel) says
There is no recourse to the Ombudsman anymore. Does your problem relate to a current loan or previous lending.
Ed Barker says
Previous loan in 2019 when the person was on UC. Just want to get the guarantor off the loan and maybe the interest waived. Not fussed about compensation.
Sara (Debt Camel) says
Has this loan finished? If it hasn’t, it is a current loan.
If it has finished, the guarantor is already off the loan.
Ed b says
This is still ongoing. Few years left yet. Want to do a DRO but this will lumber the ex with the debt which I don’t want to do.
Sara (Debt Camel) says
Well that’s your choice – if you are eligible for a DRO I’m not sure how you can repay it.
ed says
No i paid off the loan and loads of debts after selling my house, i now rent. They knew in the past i was having difficulties paying and have emails to prove this but they still offered top up loans
Sara (Debt Camel) says
Well at least you are out of their clutches now.
Yhe whole point of the scheme was to stop people like you being able to make a claim – it is a shame you did not look into this before.
Ed b says
So my original question is if the scheme is closed how can I complain? Are all avenues closed?
Sara (Debt Camel) says
you can’t complain, Amigo will say you are too late and there is no recourse to the Ombudsman anymore.
Kirsty says
So I haven’t had a decision yet, but I’ve just noticed on my credit file that the status is unknown because they haven’t reported my account status to Experian etc since 2019? The monthly payments aren’t marked as missed or paid, just blank and unknown. Any ideas why please? I will contact them Monday but just wondering if anyone has experienced this too!
Sara (Debt Camel) says
Have you been making payments?
Mark says
Hi Kirsty,
I had my payments marked down as missed on my credit report and I had never missed a payment since I had the loan… the issue I had is I was paying them through a debt charity called step change and step change were sending them the money around 9 days after the “due date” that amigo had set up.
Anyway I phoned them up spoke to a really nice guy who went out his way to help, said he would speak to his manager to get it sorted and now it comes up as arranged payment on my credit report. And lo and behold my credit score started to go up. So definitely call them if you are concerned
Sara (Debt Camel) says
Unless your DMP will be really short a default is bette4 than a payment arrangement as defaulted debts drop off your credit record after 6 years but payment arrangements stay for 6 years after the debt is settled.
Shai says
Hi, I have just exercised my rights to equitable set off, it says by doing this you agree That you will not be making any payments to your loan, due to your ongoing complaint. You believe that you will have a redress payment that you can set off in the future, against your Amigo loan balance.
That Amigo will not be expecting payments from either you or your guarantor, if you agree to this.
That payments on your account will continue to fall due, and the account will fall into arrears.
That negative information may be reported to your credit file.
That contact will be minimised to you and your guarantor, however, you will still receive certain important communications.
That any future complaint or Scheme outcome isn’t guaranteed, and that if a complaint isn’t upheld, that any outstanding balance and arrears would be payable.
My question is can I still make payments? I have managed to keep up with my loan since July last year but fell behind in December, I just don’t want them contacting my mum (guarantor) continuously due to a missed payment, so I want to still make payments but finish a month later without the hassle
Sara (Debt Camel) says
I don’t think they will stop you paying. But I suspect your mum may receive the same amount of communication if you are one month in arrears or more than one.
Shai says
Thank you for your reply, the equitable set off says they will only contact her to let her know and not chase for payments etc, if I was unable to pay them whilst using the equitable set off I would just open a saver and put amigos money in there each month until I have my decision on my claim.
Dave says
I had an irresponsible lending complaint upheld by Amigo a few years back. I have registered my complaint again using this process, will it be upheld again and will I receive further funds?
Sara (Debt Camel) says
I can’t guess what their decision will be on your claim – if you don’t like it, you can appeal.
Scott says
Hi,
Sorry but I may be being thick.
You said you had your complaint upheld by Amigo a few years ago.
Did you have more than 1 loan and are now trying to get the ones not upheld redunded? Or have you submitted the same complaint hoping to get the same payout?
Scott
Dave says
I had several loans all of which 2 were upheld. I’d like to think they would look at the 2 that werent upheld and revisit my payout on the others. but im not sure they will do either.
Lisa G says
Hi Sara. I had an Amigo loan. 10K over 5 years. £395 per month. Made 37 payments out of 60. Paid £14,600. Still had a balance of £9,880 left 🙄. Used the “Equitable Set Off” option in Sept 2021, when Amigo said it was an option.
My mum then sold her house and downsized in Feb 2022. She lent me 10K to pay off Amigo in March 2022. So I owe them nothing.
My question is… I’m pretty sure I read in the small print of the Amigo Scheme terms that any payments made after X date (I think it may have been Feb 2022 but I can’t remember why), that money / those payments will be put into a separate account and if the claimant wins their case against Amigo, any payments made to Amigo after Feb 2022 would be returned in full… and (I’m guessing) the 41p % of interest on the remaining monies previously paid of anything over the original loan amount (mine would be of about £4,600).
Now I can’t seem to find anything to say this is the still the case? Can you remember seeing something about payments made after X date being set aside and to be fully repaid to the claimant should the claimant win their complaint?
Sara (Debt Camel) says
6.33 in the Explanatory Statement (https://www.amigoscheme.co.uk/documents/explanatory-statement) sets out the arrangements for paying money into a Trust Fund.
Craig says
Like everyone else not heard a thing but on my ClearScore credit report there showing amigo/reward rate have done a soft search in December and January could this be they finally actuly looking
Sara (Debt Camel) says
possibly. Or they may have just done a big download so the info is there when they do start…
Jo says
Anyone heard any sort of word about their claims xx
rajjer says
I have just logged in to the portal and all my previous loan agreements have vanished, with the exception of the last one?
Kyle says
Hey, all of mine have vanished too. Luckily I have copies of all of the information tho. Bit strange ay.
Darren says
I still can’t see any info in the the portal…it’s just a blank white screen
Been like this for weeks
Anyone else have similar issues ?
AmigoAmigoYeeHa says
Clear cache of your browser.
Close the browser and retry.
I can get in on all devices with no problem (no update as yet but I don’t expect to hear anything to at least end of Feb)
Darren says
Still no joy
Really strange
Steve Phillips says
Mine is the same
Joshua says
I took out a large loan (top-ups over many years – totally unaffordable at £680.00 PCM hence my claim), and I have paid back everything originally borrowed. However, my portal says I am in X amount of arrears which is all interest.
How does this work? Will they still be take my claim into consideration and if successful will they wipe the arrears?
Thanks
Sara (Debt Camel) says
If your claim is upheld they will calculate the refund on it. This is first used to clear any balance owing. Any remaining will be paid in cash at a set percentage (“pence in the pound”).
I have no idea why your portal says you only own interest. You don’t think that you owe any, having cleared the loans?
Vicky says
Does anybody know why I’m not able to log in on my amigo account? Says my details could not be found. I currently have equitable set off and I have a claim in process. Just thought it was strange that my details could not be found!
Steve says
mine has now disappeared also Vicky
MAC says
Mine can not be found on the app, but can be found using the website. Suggest you try that.
Ann says
Hi I have a complaint in that was with the ombudsman I can’t log in to account today it’s a blank whit screen and when I log into scram it just says amigo loans login?
Darren says
Exactly the same…lots of customers having same issue
White blank screen
Dm says
Not a surprise that Amigo are struggling to raise cash for their scheme and we’re surprised that 25 per cent more people have made claims than they expected. So basically the figures they submitted to the court and projected payouts for redress were completely rubbish and will now be stuck with Amigo managing the wind down which they will delay again on. If everyone had voted to put into administration on the first round it could’ve been passed to administration to wind down with a fairer outcome and avoided people having to continue payments to protect guarantors, had guarantors released and cleared up peoples credit files so they can get on with their lives. Am expecting a huge amount of rejected claims so they can drag on until the end of the year and keep collecting payments to keep the payroll costs for the board going. No updates on their website on the capital raising or any progress with how many claims have been looked at.
Jo says
Is this what happening or is this second guessing what’s going to happen as I’m lost with it all ha ha ha xx
Sara (Debt Camel) says
he is guessing.
Jo says
Thank goodness I’m patiently waiting everyday on news on this xx
Jo says
I rang them this morning and they said people could wait until July before getting a final response , I asked if anyone was receiving them atm and she said yes people have all ready got theirs . So it could be a long wait ha ha
Ruth says
When I rang this morning they said people are getting their letter in March/April and to ring again if nothing received by April. Just one story after another hey 🙄
Dan says
I was told January/February,it seems they keep moving the goal post.
Matt bushell says
Anyone unable to get on the portal.
Just comes up with blank screen, and i have tried several devices.
Matthew Bushell says
Just an update.
Spoke to Amigo this morning, and they are aware there is a problem with the portal and working on it( shows blank screen ).
However, if you go to amigoschemes website , this allows you to log on and see any outcomes and change bank details only.
No outcome for me yet , and the gentleman on the phone said that all letters will be sent out in May/June. This is because the 6 months will be up from the claim deadline.
SF says
Anyone get a response letter?
Ruth says
nope, still waiting!
Tom says
I seen on a news article that Amigo are struggling to get investors, if they do not get enough investment they will have to close there doors if this happens what will happen to all the compensation claims??
Sara (Debt Camel) says
The Scheme changes into the “Fall back” options as described in here https://debtcamel.co.uk/amigo-which-way-to-vote/
The claims will be decided in the Scheme as planned.
But there will be £15m less in the pot to be divided between people who should get a cash refund. And Amigo has already said it has had more people make claims than they expected. So the original suggestion of a return of 33-37p in the £ for the fall back option may turn out to be over optimistic.
Craig says
Tbh I can see them folding this I thinks been the plan all the time I don’t know why the fca and courts have allowed them to make us wait for desistion whilst still paying them, I do belive all payments should been stopped whilst they make desistions this would stopped us waiting and a lot of us would saved a whole load of money.
Second problem I’ve had with the handling of this is allowing them to open rewardrate so now that means they can earn even more money and non of the money from that will go in to paying the people they have wronged, I do not see how any of this is fair tbh the whole system needs redoing we seen it with payday loan company’s I lost thousands thanks to putting complaints in they where denied them as soon as go bust everything upheld wonga owed me 800 got 30 money shop owed me 600 got 15 I think and it goes on and I belive amigo are looking to cause same think
Lisa G says
So if Amigo cannot raise enough money from shareholders to stay in business and the fallback option is used… I’m guessing that’s similar to going into administration?
And I’d imagine most people who voted for option 1 – for Amigo to stay in business and address redress claims – were lured by the 41p return… it certainly wouldn’t have been because they wanted Amigo to continue trading and “helping” borrowers through tough times by lending them money with exorbitant interest rates. And I’d say people voted that way because they’ve been stung with the poor poor P in the £ that the likes of The Money Shop and Wonga were able to pay.
So, unless I’ve got this wrong? We’re in a position where Amigo have continued to take money from people for another year. Are now reporting a higher number of claims than anticipated – how they didn’t factor that in is beyond me when you look at other companies that have gone into administration… and the 31p or 37p or whatever it is fallback payment is likely to be well overestimated and – at a guess judging by others companies – i’d be surprised if it’s higher than 10p.
So really option 1 was always reliant on them raising money from their shareholders?
I voted for the company to go into administration. I understand why others didn’t. But if they do then go into fallback (administration by any other name) we’re in the same position only people are further out of pocket and a further year down the line to getting some sort of resolution?
Craig says
Basicly yeah it will look that way I voted against because I don’t trust amigo with way they been and yet again proven right
Jo says
Has anyone heard if this is what is actually happening or is it hear say xx
Sara (Debt Camel) says
The troubles that Amigo is having with getting the equity raise they need underwritten have been announced to investors, see the News section in this page https://www.londonstockexchange.com/stock/AMGO/amigo-holdings-plc/company-page.
But they may sort this out. It isn’t yet clear if they will manage this or if the Scheme will change to the fall back option.
Lou says
So I called Amigo today and they told me they have got through 50% of the complaints and the first 50% have had there letters or emails to say if complaints have been upheld or not has anyone on here heard anything yet? I’m just about sick of paying when I know my complaint stands a good chance at being upheld that £177 per month could go towards other bills ughhhh I have paid back 7.5k off my 4.5k loan and it’s frustrating me that I won’t receive it all back in redress because it’s less than half per pound redress
Ruth says
So far no one on here seems to have received anything except different stories of when we might hear…who knows what’s going on. It really is disgraceful. I genuinely couldn’t care about the money anymore I just want it off my back and off my credit file
Lou says
Sameeee I am paying back a 4.5k loan I’m 41 months in and it’s frustrating because I have paid the loan of plus 2k I’m not arsed about compensation I just want to have it written off and my guarantor released I could really do with the £177 a month towards other bills.
James says
Hi to anyone that might be able to help me or point me in the right direction. My brother is the guarantor to an Amigos that his ex partner took. They have split sometime ago. Today he received a letter from Amigos with figures etc. His ex was very much abusive and at the time of taking the loan he had no idea what he was getting into. She was due to inherit some money which would then be used to pay the loan which never happened and now from what I can see she never made any repayments. He is a single parent of 2 (ex not the mother) and he is sadly on benefits. he doesn’t have any money to pay this. The ex not paying is simply a way of getting back at him for finally seeing sense and leaving an abusive relationship. What are is options if any? Any help or advise would be appreciated.
Sara (Debt Camel) says
Did he make a claim to the Amigo scheme? Does he know if she did?
Does he have any other debts?
Is he buying or renting?
James says
Hi. No complaint was made because they only ever wrote to the borrower and she hid the papers so he didn’t know. She hasn’t raised a complaint. He as other small debts which are around 2k no property or rent as he can’t afford it .
Sara (Debt Camel) says
“no property or rent”
where is he living then? rent free with family?
James says
Yes with family. He found out today that the borrower placed a claim stating she was not in the correct mind set when taking the loan but amigos didn’t confirm when the claim was made. And stated that they haven’t hear from the borrower since the claim was made and it’s not settled.They state that the checks made when taking the loan show that it was affordable but at the time the guarantor was on benefits and so was the borrower. Amigos have given a 2 week breathing space following his call to them this morning to allow the guarantor to figure out his situation but if a full instalment is behind by 7 days then they will report it to credit reference agencies which will effect the borrowers ability for credit in future. The guarantor at the time when the loan was took was in an abusive relationship, on many occasions purchases would be made under his name and account with promises it would be paid back. He never would challenge this as there would be consequences which is a really long story. I’m unsure what the next step is. Can he make a claim now? He doesn’t want any money back or anything, just to be removed as guarantor.
Sara (Debt Camel) says
Amigos have given a 2 week breathing space following his call to them this morning to allow the guarantor to figure out his situation but if a full instalment is behind by 7 days then they will report it to credit reference agencies which will effect the borrowers ability for credit in future.
That looks accurate. At the moment it will not affect the guarantor’s credit record. If he checks he will see the Amigo loan does not show there. It cant harm his record unles Amigo goes to court and gets a CCJ agaibnst the borrower and against the gairantor.
if the borrower wins her claim he will be released as guarantor.
Can he make a claim now?
No, the window for making a claim in the Scheme has ended.
His other debts – is he up to date with paying them?
Can he continue to live where he is now for the foreseeable future?
James says
Hi Sara, yes he can continue to live where he is as long as it is needed. With regards to making payments, yes he is slowly clearing all he can. The borrower I can assure wont make any payments or be worries about any of this as she has had numerous CCJs against, previous to taking the loan and during. The borrower simply sees it as “I’m not paying so you have to” which is frustrating for a single parent of 2 to hear. I was going to support the guarantor to make a complaint/claim in the hope that something would happen given that the borrower as made a claim already. But if this won’t make a difference, I’m not sure what the next step would be.
Sara (Debt Camel) says
Well I suggest asking Amigo is the borrower has made a claim. If they have, then refuse to pay anything until the claim is resolved.
If the borrower has not made a claim, or eventually loses their claim, he has 3 options:
1) do nothing and say he can’t afford to pay anything. If he talks to National Debtline on 0808 808 4000 they can help him draw up a budget he can send to Amigo to show this. he could ask them to write off the debt. If they refuse, he can repeat the request every 6 months, pointing out his situation has not improved.
2) put all the debts including the Amigo loan into a debt management plan with StepChange and pay them a low amount, say £50 a month.
3) go for a Debt Relief Order which will wipe out this Amigo debt and his other debts. This is a very simple form of bankruptcy. -A DRO costs £90 and the debts are cleared after a year during which time he doesnt have to make any payments, se https://debtcamel.co.uk/debt-options/dro/. Talk to National Debtline about this option – it can’t be used until Amogo have formally asked him to pay as guarantor.
Also if he hasnt done so already, he should phone his bank and cancel the Continuous Payment Authority Amigo has over his bank account, so they do not help themselves to a payment has can’t afford,
Jo says
I’m in a set of with them at the minute and I’m so glad I’m hoping if it ends in a wind down il receive what I paid since the scheme will be paid back to me as it’s about 2 k xx
James says
Thank you Sara for taking the time to reply and offer advice on this matter. I will speak to my brother (guarantor) about options you have given and see how we move forward. Just to confirm, give that the borrower has made a claim, do you not think it’s worth for the guarantor to make another complaint and explain his situation? Even if he did would it cause any harm?
Again thank you for the advice it’s been really helpful.
Sara (Debt Camel) says
Well he can try. It’s hard to see how it could do any harm.
But legally Amigo can just say it is too late to make a claim under the Scheme and refuse to consider it.
sean says
Does anyone know if once you receive your letter and the decision is in your favour.
Will they then remove the loan from your credit file with say 4-6 weeks.
Then you will just have to wait however long for compensation once all cases have been dealt with.
As I can not see why they wouldn’t clear your history as to not hamper you for longer.
As I’m sure many would wait for compensation if they removed the loan from your file first.
Thanks
Sara (Debt Camel) says
No one knows.
They could do what you have suggested.
On the other hand they may batch up a lot of the credit record updates and do them together, so you may have to wait longer.
aden says
Surely the financial ombudsman should be putting pressure on amigo to work through the process within a given time frame
Sara (Debt Camel) says
This is in a court approved Scheme. The Ombudsman has no role here.
Ruth says
https://www.fca.org.uk/news/press-releases/fca-censures-amigo-failing-conduct-adequate-affordability-checks
Well I’ll be highly surprised now if they dare to reject any claims form 2018 onward!
But as ever….still no useful news from Amigo on progress!
Kyle says
I think it’s still disgusting that the fca allowed the unpaid interest to be deducted without challenging it.
Craig says
My view of fca in this is getting less and less ie allowing amigo to relend under another brand allowing amigo to drag claims out so long I can see amigo rejecting loads claims now and fca not backing us up
Jo says
Absolutely disgusting how they r dealing with this , I for one can’t even sleep worrying over what’s happening xx
Ann says
Hi I can’t get into my account on any screen today.
Nathan says
I spoke with an agent a few days ago and he said it would be done by the first quarter of the year – so March. Not holding my breath much but we shall see.
Mr sean g brown says
I think they are just telling people anything now.
Heard numerous different stories.
Fingers crossed but I highly doubt it.
They are set on ruining lives and it will blow over for them I think.