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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Gaz says
Hi Sara
I am a guarantor and claiming for both the borrower (my partner) as well as myself. I hadn’t made any payments and the borrower paid the balance in full with inheritance money a few years ago. Our claim was submitted in good time before the cut off date and we are still awaiting our final response letter as it says when we log in to the portal. 8k was borrowed and £18972 was the total repaid. Do you think we’d have any chance of a successful claim as we repaid back so much even with such high monthly payments
Sara (Debt Camel) says
It isn’t what you paid, it’s whether the monthly repayments were too high. Fingers crossed for you
Mags says
Hi Sara was just reading on the fb page that someone phoned today was told most outcomes by end of jan but complex claims could be the end of the year which I’d imagine means no payouts, how can this happen if they are liquidised in sept
Sara (Debt Camel) says
The Amigo rumour mill grinds on. Most things customer services have been reported to have said so far about deadlines have been wrong.
Karen says
I have been making payments since 2019, never missed a payment. there is 5200 balance on my loan. I got an email the other day saying not to pay anymore payments and cancel the direct debit. It said my liability for loan will likely be removed. They removed the loan from my credit report back in sept. Does this mean my outcome will arrive soon?
Sara (Debt Camel) says
Everyone’s outcome should arrive soon! The good news is it sound as though yours will be upheld
Emma says
I have a query about top up loans please, whilst I am waiting for my outcome!
I took out a loan towards the end of 2018 (£5,000) and then in early April 2019 topped this up to £10,000. £4,772.79 went to pay off the original loan leaving £5,227.21 paid to me.
Do you know how this would be treated with regard to any compensation?
I have worked out that I have paid £9,757.78 to the top up loan over the years and have been in ESO since February 2022. I complained about affordability just before the scheme I think, in about October 2021 and made two payments in December 2021 and January 2021 of £487.89 before asking for ESO.
The top up loan has been entirely removed from my credit report.
Sara (Debt Camel) says
If only the top up loan is upheld, it is hard to say what will happen. Normally Amigo didn’t let people go into ESO if they had repaid less than the amount they borrowed.
Emma says
Thank you, this is what worries me. Having far too much time to worry about any possible scenarios whilst waiting for confirmation of the outcome of my claim.
Natalie C says
Wonder if Amigo realise they have exactly two weeks before they miss yet another deadline… probably not. Maths isn’t their strong suit, is it?
Daryl says
Wouldn’t be hard for them to also update the website daily to show how many cases are left and what percentage have been sent out, then people at least know where they are at! Maybe that is too much common sense..
Delboy elder says
I don’t believe the numbers they are giving us are true… a lot off people on here that don’t have an outcome yet are saying they have never missed a payment and they’ve never had there guarantor step in for them, I am 1 of those people, the only thing that can be complex about mine is that in 2019 I had too complain as I couldn’t afford the payments which in turn had sent my mental health through the roof…
Sara (Debt Camel) says
I don’t think all the remaining claims are especially complex – they are just the ones Amigo has left until the last quarter of claims.
Rebecca says
I received my outcome email today and I’ve accepted the offer.
I’m wondering if anyone has had any payments from them yet? When are we expecting to get our refunds?
Arran Morrison says
Current estimate as per the Scheme website is February for the initial payment (appearing to be 10p in the £) with the later payment being late 2024
Ali says
Hi Sara, received my claim outcome today.
Cash Claim Value £15,331.39
8% Compensation £5,575.45
Total Cash Claim Value £20,906.84
And
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £6,215.37
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £469.18
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £93.84
Total Refund Value (1+2+3 minus 4) £6,590.71
So from my understanding I’ll be getting a refund cash of £10,144
Marta says
I can’t access Amigos Scheme Portal. I’m login in just fine and after I insert the code they sent via text my page turns white and there is black letters sating WELCOME TO AMIGO. I reported it to Amigo 2 weeks ago, but been told it’s due to that there’s plenty of people trying to access the website at the moment.
Chris richardson says
Hi
I just checked and it’s the same for me ? Hope this means it’s moving on and payment being issued within days ?
Sam says
Good afternoon all.
Has anyone made sense of the redress?
Received an upheld offer today. Figures below
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
39734274 £1,000.00 36 02/01/2018
40256167 £2,000.00 36 05/02/2018
41807474 £3,000.00 36 15/05/2018
43724810 £5,750.00 60 02/10/2018
Interest Refund Fee Refund Reinstated Interest
Cash Claim Value £1,567.21
8% Compensation £270.95
Non-affordability redress £30.00
Total Cash Claim Value £1,868.16
However also another box
Total Borrower Refund
£7,429.51 £0.00 £0.00 £7,429.51
Assume the total borrow refund isnt an additional payment??
Loans were all repaid in full.
Sara (Debt Camel) says
When did you last make a payment? Did your guarantor make any payments? Is there a balance still outstanding?
Sam says
Hi sarah.
Guarantor never made a payment.
And i paid the loan off in full 2 years ago.
Regretting accepting now .
Sara (Debt Camel) says
Could you copy in all the figures you were sent. use two comments if necessary.
Daryl says
On the Scheme Portal, it states “Review the details of their Scheme Claim” – But can anyone see their Claim details? Or am I reading that wrong?
Darrell says
Hi
Doesn’t it say further down, not recieved final outcome letter, I haven’t recieved mine yet, check constantly.. startingto do my head in, not holding out much hope that I will get it this month, why would I after waiting this long
Syed says
In the same boat here.. I keep checking mine too.
Daryl says
It does, yeah. I just thought it meant you can review the claim you put in. Still waiting myself, might get an answer some day
Graham says
Hi Sarah its Graham you messaged to say you have emailed me on the 16th at 6.55 pm regarding the dubious tactics by Amigo regarding the lack of full refund. I cannot find the email could you be so very kind as to send it again.Could you let me know when done.
Regards Graham
Sara (Debt Camel) says
resent
Graham says
Hi Sara its Graham. I have just received a message from Amigo regarding the email address used by the fos to escalate my complaint once the scheme had been opened.
Fos used escalations@amigo.com
Amigo say it should of been. me instead of.com.
They also say the fos should of received an auto response saying email was undelivered
Any chance you can investigate further now.
Regards Graham
Sara (Debt Camel) says
I will give this a go.
Graham says
Thanks Sara, much appreciated.
Regards Graham
Sam says
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
39734274 £1,000.00 36 02/01/2018
40256167 £2,000.00 36 05/02/2018
41807474 £3,000.00 36 15/05/2018
43724810 £5,750.00 60 02/10/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£7,429.51 £0.00 £0.00 £7,429.51
Cash Claim Value £1,567.21
8% Compensation £270.95
Non-affordability redress £30.00
Total Cash Claim Value £1,868.16
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full, and will be as a pence in the pound payment. Confirmation of this will be sent to you, later this year, once all claims have been decisioned.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £0.00
Payments made before Scheme Effective Date (2) £5,862.30
8% Compensation on payments made after Scheme Effective Date (3) £0.00
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £0.00
Total Refund Value (1+2+3 minus 4) £5,862.30
Sara (Debt Camel) says
the Total Borrower refund is an intermediate step in working out what you will be paid. You effectively get that amount £7,429 in two separate parts:
– you will get about 17% of the Total Cash Claim Value of £1,868
– you will also get paid in full, not at a percentage, the Total Refund Value of £5,862 which are more recent payents that you made
(those two numbers don’t add up directly to the total borrower refund because the 8%s on the 2 parts are calculated differently)
that all looks fine to me.
Johnathan says
I doubt very much any 1 be getting payments Feb this sceam is supposed to be independent however I’m sure amigo is in the mix
mark says
Hi first time on here a few questions.
1, the 7429 above seems to be the 5862 + the 1567 which is the cash claim value and not 5862 + 1868 ? so the total cash claim is wrong if the final figure is 7429, it should read £7730… ?
Also on a lot of these messages people talk about redress and when I go on the website it mentions the word ORIGINAL a lot. for me the meaning original is from the start the beginning. So any redress should be from the first original loan amount and not any top ups I presume.
I had an original of £2000 the top up to 4000 the top up to £8000. from 2018. i have had my loan cleared as i owed 6400 but have paid 13500 in total. I had paid 12000 interest. i have not had a response as of yet. is the redress calculated as interest minus original amount ?
So 12,000 – 2000 = 10000 redress at 17% so 1700.
Also do you think there is any flexibility on the 1st dec date 2021. as i made a payment the last day of November 2021. ?
it just convenient that the refund date is at the beginning of a month knowing that the majority of people pay the bills at the end of each month..
Thanks Mark.
Sara (Debt Camel) says
Lets talk about numbers in your decision when you get it.
Top up loans are treated as a completely separate loan. Early loans in a series of top up may be decided to be affordable when later loans are upheld. If this happens to you, you should consider whether to appeal the earlier loans.
is the redress calculated as interest minus original amount ?
No, a separate calculation is made for each loan then a summary is provided across all the upheld loans. In your case you have borrowed more from Amigo each time you took a top up.
I had paid 12000 interest.
I don’t know how you have worked this number out.
Also do you think there is any flexibility on the 1st dec date 2021. as i made a payment the last day of November 2021. ?
no flexibility at all
Sam says
Sarah.
Thank you for taking time to review. If you are happy im happy. Much apriciated
Christine says
I have contacted Amigo for an update. They said my claim is a legacy claim. Not sure what this means and if I will receive a response?
Sara (Debt Camel) says
A “legacy claim” typically means that Amigo have found that there was some admin error whilst you had the loan which may mean you are due some refund for that. These amounts may be small so i wouldn’t get too excited.
Jane says
Hello i have received the same email so typically how small are these refunds and what usually happens to the remaining live loan
Sara (Debt Camel) says
Have you made a claim to the Scheme?
Jane says
They have said i dont have claim within the scheme but have a legacy claim instead also theres still a loan balance and credit file is still showing so bit concerned
Sara (Debt Camel) says
So they have rejected your claim in the scheme? Have you appealed this? The legacy claim could end up being £10, so appeal the scheme claim and send your bank statements
Jane says
I havent received an outcome yet is that what i should wait for and then see? As of yet i cant do anything my guarantor was released bit im just concerned as a borrower theres still a live balance and credit marker
Sara (Debt Camel) says
“They have said i dont have claim within the scheme”
Can you be clear. Does this letter or email say you do not have a claim within the scheme, your claim within the scheme has been rejected, or this letter is not about your scheme claim but the fact you have a legacy claim.
If you aren’t sure, can you copy in here what it says.
Jane says
Yes its just about the legacy claim and they wont give me any information everytime i ask they say i have to wait for an outcome
Sara (Debt Camel) says
ok. Then you need to wait for the decision on your real claim.
Rebecca says
I contacted to ask when repayments would be made. This is what I got back.
Hi Rebecca
Thank you for your email.
We anticipate that payments will be processed by the end of February 2024, followed by a second smaller payment 6-9 months later, once there is certainty around the timing of Amigo’s liquidation.
Our timeframes are estimates and we will contact you directly to provide you with further information about this. You can also go to our FAQs page on the Scheme website.
So does that mean we will be getting the bigger part of the money owed back first?
Sara (Debt Camel) says
yes that is very likely.
Louise says
Hi there, slightly confused
I have total borrower refund at £1,150 and then total cash claim value at £693. Which one of these numbers will be the final refund (including which one will be the one they calculate the 17p/18p in every pound at)
Thanks so much
Sara (Debt Camel) says
did your guarantor make any payments? do you have a current balance? when did you last make a payment to Amigo?
Louise says
Hi there, my guarantor did make payments but we thought it was joint claim. The loan was paid off in full in 2021
Sara (Debt Camel) says
This wasn’t a joint claim. (Unless you put In what you wrote in the claim that you were Making a joint claim on behalf of your guarantor? Then you coukd Argue that Amigo should treat this as a joint claim.)
I’m afraid the 17% refund will be based on the £693 number. Unfairly no one will be getting a refund for the payments your guarantor made.
Andy says
Hi all,
I had this response from amigo last year. Am I right in thinking I will hopefully receive 17% of just the total cash claim value? The loan was paid off in full in June 2020.
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £4,624.13 | £0.00 | £0.00 | £573.58 | £5,197.72 |
| Cash Claim Value | £3,675.55 | | 8% Compensation | £573.58 | | Total Cash Claim Value | £4,249.13 |
Thanks.
Sara (Debt Camel) says
did your guarantor make any payments?
Andy says
Hi Sara,
I think over the course of the loan they made about 3 payments.
Sara (Debt Camel) says
That would explain why the total cash claim value is lower than the claim value. Unless your guarantor has made a claim, no one will receive any refund for the payments your guarantor made even though Amigo has agreed the loan was unaffordable.
You will receive a percentage, roughly 17% , of the Total Cash Claim Value of £4,249
paula jackson says
Hi with 2 weeks till the end of January
I have still heard nothing
last April I had an email to say someone was on my case
but heard nothing since
is this going to happen
or have they forgot me.
Laurie Haire says
Same here, all my loans were fully paid, no arrears and no guarantor payments made, you’d think it would have been a straight forward decision :/
Darina Nedeva says
Hi Sarah,
Interest Refund£5,041.66
Total borrower refund:£5,488.61
Cash Claim Value£5,041.66
8% Compensation£446.94
total Cash Claim Value£5,488.60
I’m so confused with that. Am I only getting 17% of £5,488.60 ? Could you please help with that? Thank you
Sara (Debt Camel) says
yes.
I know you had Provident loans before. Apart from them, what other high cost debt have you had or do you still do have – credit cards? catalogues? Overdraft?
Because you need to look at complaints before the lender goes under – then you may be able to get the full value of your claim, not a pathetic percentage.
Darina Nedeva says
Hi Sarah,
Thank you for your reply.
I still have 3 credit cards.
And 2 closed credit cards. Aqua and capital almost finished, not paying interest for them
paying only debts .
I dont have any other high interest loan, I still have overdraft. 3.5k
But I’ve already accepted this amigo offer. What should I need to do now :(
I dont wanna go to stepchange,
My credit score is not improving but at least it’s still same: 503/710 on credit carma.
But I’d like to know your advices.
Thank you
Sara (Debt Camel) says
You have accepted the Amigo decision and it doesnt look wrong too me (unless you think some of the numbers aren’t right?). There is nothing to be done except wait for the first payment.
your overdraft – how many days of the month are you in it?
the 3 open credit cards – have they increased your limit while you were only making the minimum payments to the them?
Darina Nedeva says
Last 5 years I’m in the overdraft.. 3.5k no money left after doing all the payments.. I was excepting like if I get that much from amigo there will be no overdraft issue anymore. Open credit cards : they haven’t increased anything I pay some but I spend again because of short of money. It’s like a vicious cycle :/
Sara (Debt Camel) says
So you are in the overdraft all or almost all of every month? which bank is this?
Read https://debtcamel.co.uk/get-refund-overdraft/ – this is probably a very good overdraft complaint.
how large are the credit card debts?
Darina Nedeva says
Last 5 years every single month I’m in . It’s Lloyd’s Bank. Whatever comes, just goes after to rent bills shopping.. My income is 1800 in a month , and when I had 3.5k overdraft I was only earning £1300. I just checked this article and definitely going to make a complaint thank you Sarah.
Sara (Debt Camel) says
let me know how it goes on in the comments on that page about overdrafts
Jason says
Still waiting the same as a lot of others. Do we know if at this late stage if people are still being rejected or are we safe to assume that our claims will be successful from this point?
Many thanks
Sara (Debt Camel) says
I don’t think it’s safe until you get the decision. But if you have been told to stop paying or had records deleted from your credit file that’s a very good sign that those loans will be upheld.
Mike says
Hi Sara,
I hope you are well and thanks for all your hard work here.
I made a total of £2,200 in payments to Amigo after my initial complaint on 30th June 2021, does this mean if my loan is upheld I will recevie a full cash refund in this amount?
Sara (Debt Camel) says
No payments made before December 2021 are being refunded in full.
After that date it depends at what point your “crossed over” into having repaid the amount borrowed so you were just paying interest.
Christel says
I received a letter from Lantern to state that the guarentor loan has been opened and I needed to pay my son’s loan as it had defaulted. I advised them that he had not defaulted but had an arrangement with Amigo for a reduced rate due to Covid and that based on the emails that I had received from Amigo he was paying off the amount as promised.
Yesterday I was advised that the loan was in default and that I as the guarentor would now be reported to the Credit Authorities for defaulted loan amount unless I pay the full outstanding balance of £4961 by the end of January. I contacted my son whose loan it is to ask him what was going on and he forwarded me all his correspondence which stated thank you for setting up a direct debit which will be taken the first of every month. Why therefore am I being harrazed with the threat of my credit rating and the request for full payment. I am seriously confused as I was not aware of any further outstanding amounts. I was the one that told my son to contact Lantern and set up the payment plan when they had taken over his amigo loan but all of a sudden I am made to feel that this is now my problem. Since signing his loan I have lost my job and in anycase can’t afford to make additional payments on this for him so it is causing me massive stress
Sara (Debt Camel) says
Did either your son or you make a claim to the Amigo Scheme?
Ali says
Hi Sara, hope youre well
I received this email early last month
When I log-in to my amigo account I can still see arrears and outstanding however wanted to ask whether I should take this in positively..
For those whose claims have been upheld is this the sort of email you received before it 🙌
“ We are contacting you today with regards to your current loan with Amigo.
One of the parties on this account, either the borrower or the guarantor, has raised a Claim within our Scheme of Arrangement. Further updates regarding this Claim will be issued to the relevant party, in due course.
Following a review of this claim, and given that you have an outstanding loan balance, we have made the decision to stop automatically collecting any future payments from you, whilst the Scheme Outcome is finalised.
This means that you will most likely have your liability for this loan removed, and will not have any further payments collected from you. We’d also ask that you do not make any future payments to the loan, and cancel any Standing Orders or regular payments that you have set up.
Whilst we finalise the details of this claim you may notice that the account has fallen into arrears and you might receive some communication stating this.
Kind regards
Ali
Sam says
Amigo Loan Agreement No.Loan AmountLoan TermDate Loan Approved £2,500.00 3613/08/2019
Interest RefundFee RefundReinstated InterestTotal Borrower Refund£1,835.22 £0.00 £0.00 £1,835.22
Cash Claim Value £671.228% Compensation£13.87 Non-affordability redress £30.00 Total Cash Claim Value£715.09
Refund Type Refund Amount
Payments made after Scheme Effective Date – (1)£1,164.00
Payments made before Scheme Effective Date – (2)£0.008%
Compensation on payments made after Scheme Effective Date – (3)£104.138%
Compensation withholding tax (on payments made after Scheme Effective Date) – (4)£20.82
Total Refund Value (1+2+3 minus 4) – £1,247.31
Hi
I am a bit confused with these figures. Just want to clarify whether, the Total Refund Value £1247.31 will be paid in full and the £715.09 Total Cash Claim Value will be paid at the 17p to a pound?
Sara (Debt Camel) says
Yes that is right
Lukas says
Hi Sara,
Please help, I took £6000 for 48 months. I paid £256.65 per month. How Amigo calculate Cash claim value? Is this £6000 only what I borrowed or 12319.20 the total I paid them back.
Today I have last day to accept or escalate.
Many thanks!!!
Sara (Debt Camel) says
What numbers did Amigo give you?
Lukas says
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
You are being offered
– a FULL refund of £1078
and in addition
– a percentage of £5703, probably about 17%, so just under £1000
Unless you had Some loans rejected or you think The numbers are wrong there is no reason not to accept this
Rebecca says
I’m just wondering will my refund have an impact on my universal credit?
Sara (Debt Camel) says
Not unless it takes your savings over £6000
Rebecca says
No it’s below 6000 for the refund and unfortunately I don’t have any savings, but this refund will allow me to purchase things for my home that I’ve been unable to afford, I might even be able to take my son on holiday for the first time. Here’s hoping it doesn’t take too long for it to come back to us!
Sara (Debt Camel) says
Then your UC will not be affected. This refund is not treated as income for UC
Steve M says
Hi Sara , sorry if this query has been put toyou on here before .
I’m waiting on a final response letter from Amigo and the portal states ive not yet received a final response letter .
My credit history with Amigo dropped off of my credit file in November (ish). My last loan was taken out with Amigo was paid out in Jan 18.
My account was put into Eso and entered into the scheme as I paid back more than I borrowed.
Prior to that I requested some payments be derrered during the Covid period. I have now just received a letter and ‘notice of sum in arrears’. Actual arrears and differed arrears figures.
Has anyone else received similar?
But my worry is now if ive received this letter I may of miss something in the process.
At first i thought it was just be an annual statement.
It Came with a FCA sheet (info sheet no 1) which in itself states its ‘time to take action’ on my debt.
Do I need to react and indeed take action.
Do I need to contact Amigo to see if the status has changed?
I’m was starting to think it may of been the 6 years from 2018 for the loan to drop of my credit file but that was back in November.
Appoligies for not being able to read every previous post if it covers this.
Many thanks for your time.
Sara (Debt Camel) says
That is a NOSIA letter – it is system generated and Amigo can’t stop them even though you are in ESO. It is not demand for payment. Phone Amigo up and they will confirm this.
Steven M says
Thank you
Much appreciated
Samantha Ramage says
Can you please help Sara with how much I am expected to receive back. This is my break down of figures
Loan Amount Loan Term Date Loan Approved
£500.00 12 08/09/2017
£2,250.00 36 02/01/2018
£3,250.00 36 04/04/2018
£5,000.00 60 21/06/2018
£7,500.00 36 04/12/2018
£9,750.00 60 12/07/2019
Guarantor Total Payments £11,208.25
8% Compensation £1,678.43
Total Cash Claim Value £12,886.68
Sara (Debt Camel) says
Was there another box of figures below those? When did younlast make a payment to Amigo?
Samantha Ramage says
Hi, there wasn’t another box no.
The last payment was made July 2020 which was by me the guarantor paying the loan off in full.
Sara (Debt Camel) says
Then you will Get a percentage, probably about 17%, of the £12,886. So roughly £2,200
Samantha Ramage says
Thanks for confirming ! Do you know if the deadline has changed for when first payments are being made or should it still be in the next month?
Sara (Debt Camel) says
I would describe what Amigo says about payment dates as targets rather than deadlines. Seriously you cannot plan on any money being received next month.
NB this does NOT mean I think there won’t be enough money and no one will get paid. Just that you cannot rely on the money arriving until it is in your account.
Samantha Ramage says
Thank you for the update!
shaun says
Hi Sara, hope you can help, Amigo loans have upheld my affordability complaint however state that I’m not entitled to redress as the amount I paid back isn’t greater than the total amount borrowed, this is due to my guarantor making payments for me using his bank account. I took 9 loans totalling to approx £14,000, approx £22800 paid back, £12000 from my account & £10800 from my guarantors account. My guarantor took out an additional loan for me with a different company and paid the remaining balance on my amigo loan, which at the time was approx £9000. I have now paid my guarantor all money back via bank transfer.
Could you please advise me on how I can approach Amigo to appeal against this matter.
Regards
Shaun
Sara (Debt Camel) says
Did you guarantor make a claim?
shaun says
No he did not make a claim
Sara (Debt Camel) says
I am afraid if you appeal this decision you are likely to lose.
Amigo slipped the treatment of this situation into the details of the scheme without it being focussed on – no-one expected this to happen. Amigo could easily have advised borrowers in your situation that your guarantor would need to make a claim, but it chose not to do so. You have been very poorly treated and it isnt clear there is anything you can do about this.
shaun says
Thanks for your reply,
I had a feeling this would be the case. Very sneaky from Amigo loans. I’m so glad they are no longer in business to rip people off.
My approach to appealing against this decision will be that the amount of money that I paid is more than the amount Amigo paid out for the first 8 loans, therefore over the borrowed amount. It seems that Amigo are looking at all money borrowed as a total rather than individual loans.
I’m also going to send Amigo bank statements that show ongoing payments from myself to my guarantor for the loan that he got for me to pay off my Amigo loan. This shows that although my guarantor paid with his bank card to settle my Amigo loan, ultimately I have still had to pay.
Bobby Jones says
Hi Sara My friend has been sent a yearly review form from Intrum to fill in does this mean his claim has been rejected?He still has not heard from Amigo about his claim.
Sara (Debt Camel) says
He would have to ask Intrum. This may be something that is automatically sent out every year.
Sandra says
Hi all
I emailed amgio on Monday 15th, reply back on Tuesday said at they sent out 152.000 letters by email
Keep checking my inbox 📥
I will know out come by end January
Del boy Elder says
I wouldn’t hold your breath on that too be honest… what a farce this has become.
Lukas says
I have the loan with Amigo but repaid using my friend bank card. He was not a guarantor and he could not make a claim. Can I Appel in this case.
Sara (Debt Camel) says
Amigo should have treated these payments as coming from you. It is only payments from a guarantor that cause a problem.
why do you want to appeal? Do you think there is something wrong with the numbers Amigo gave you?
Lukas says
Yes, cash claim value is incorrect.
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
42242305 £3,000.00 36 08/06/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£2,269.32 £0.00 £0.00 £2,269.32
Cash Claim Value £659.25
8% Compensation £50.62
Non-affordability redress £30.00
Total Cash Claim Value £739.87
I’m trying escalate this but after clcking Procced nothing is happend and looks like I need to start again.
Sara (Debt Camel) says
Those aren’t the numbers you posted earlier. How many loans did you have from Amigo?
Lukas says
This is not my loan. I had 2 loans that you reviewed earlier and I have accepted the outcome.
This Is my cousin loan. I’m asking for him.
Sara (Debt Camel) says
ok so when you said “I” you were pretending to be your cousin.
The typical reasons why the total cash claim value is less than the interest refund are:
– the guarantor has made some payments
– there is a balance still open which is being cleared
– there is an amount which is being refunded in full, which will be in a separate box below
– there was some write off due to the borrowers insolvency
– some redress had repreviously been repaid before the scheme.
If you don’t know the reason in your cousin’s case, he needs to phone Amigo up and ask.
Lukas says
He took the loan £3000 in 8/06/2018 and he paid back the loan in 2//10/2021. He received the letter from amigo issued 7/10/2021 that account is closed and balance is £0. His guarantor never make a loan payment. He have spoken with Amigo yesterday and they told him he is not qualify for refund in full as well. He done only 4 monthly payments from his account and the rest he used my account to make a monthly payment because his account was always in minus.
Sara (Debt Camel) says
Yes he cant qualify for a full refund as the loan was repaid before Dec 2021.
He needs to ask Amigo why the cash refund has been reduced and point out his guarantor never made any payments.
Lukas says
He escalated today because it is his last day. He wrote them:
I’m not happy with the Cash Claim Value. The numbers of £659.25 are wrong. My guarantor never paid any loan payments. I have repaid this loan in full but this time I could not use my account because I had always minus I have used my cousin account and card to make a monthly payments. My cousin name is … and he can provide a statement if needed. I repaid the full loan using his account. My cousin could not make a claim because he was not a guarantor. He also attached statement with all the payments done to Amigo.
If Amigo not accept his claim he still receive the outcome that they send him already or they not pay him at all?
Thank you for your help!!! You are amazing.
Lauren says
Had an email back from Amigo regarding my appeal that was upheld over a month ago. I asked when it would be removed from my credit file and when I would receive an updated outcome letter… I received a response back from Amigo on Friday saying… There is no date at this time when appeals will be processed and they are unable to provide me with an update.
So that filled me with confidence 🙄
Craig says
Good morning Sarah it’s my first time on here & i was wondering if you could give me some guidance? I was a guarantor for a couple of loans with Amigo & unfortunately I got stung by this & was left to pay for the loans not in full I might ad as I took the case to the ombudsman & I won my case where I got a refund for all payments made & removed as a guarantor & everything taken off my credit rating in 2018. I saw this scheme in 2022 & thought I would submit this claim which i done in May 2022 i have now finally had my response email. Could you please read below.
We’ve received and reviewed your claim against ALL Scheme LTD (‘SchemeCo’),
Below you’ll learn of the outcome of this claim, and the reasoning behind it.
Amigo has previously addressed and resolved your concerns, and wrote to you on 11/12/2018 with a final response letter. Our records show that your complaint was upheld (confirmed as valid) and redressed (compensated) in full. Given that you’ve received this compensation already, we now confirm this matter is resolved.
With no new concerns to review, this is confirmation that your claim has been rejected and closed.
My question is should I appeal this or is the matter closed & I should move on?
Also if I was to appeal this would they try to pursue me for any outstanding money owed or are they not allowed to do this as the matter is closed in there eyes?
Any advice would be greatly appreciated
Kind regards
Craig
Sara (Debt Camel) says
I’m not sure what you are hoping to get. You have already been compensated in full, you aren’t going to get more than that.
L says
Morning. Do we have a set date for payout yet? Mine is going to repay other debt, and I’d like to be able to plan. Do we definitely think Feb?
Sara (Debt Camel) says
don’t make any plans!
L says
Yes, true. Grr! At least will keep fingers crossed!
Laura says
I don’t think we will receive a penny before April i mean I’m still awaiting my outcome hopefully it’s upheld as I’m due estimated over 4k that would really come in handy right now 🤦♀️ they have dragged this out for this long I don’t think they are in any rush to hurry it up
Mari says
Hi Laura, how did you estimate your refund? Im trying to for me but dont know how or if im entitled to any.
Thanks
Zac says
Hi
So I haven’t payed much attention to this as it feels like a life time ago when the amigo scheme started , but upon checking I received an outcome letter on the 20th dec 23, it says I have 30 days to accept or appeal the claim. Do they automatically accept for you after 30days ? I can’t believe I missed in this in my emails I’m so annoyed at myself as it would have been yesterday the deadline.
Katie says
I’m completely confused by what I’m actually going to receive. I think I’ll get a % of the £2093.56 and then a full payment of £4244.25 but I might be completely wrong. Here’s what they sent. I have x my loan numbers to remain anon.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
xxxxx £3,000.00 36 21/11/2018
xxxxx £5,000.00 48 27/06/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£5,980.07 £0.00 £0.00 £5,980.07
Cash Claim Value £1,916.35
8% Compensation £147.21
Non-affordability redress £30.00
Total Cash Claim Value £2,093.56
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
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full, and will be as a pence in the pound payment. Confirmation of this will be sent to you, later this year, once all claims have been decisioned.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,993.20
Payments made before Scheme Effective Date (2) £1,070.52
8% Compensation on payments made after Scheme Effective Date (3) £225.66
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £45.13
Total Refund Value (1+2+3 minus 4) £4,244.25
Sara (Debt Camel) says
Yes you are right
Syed says
Still awaiting a final outcome… Count down beings to approx 9 workings days.. until yet again another month gone by since September 2023.
George says
I am still yet to receive my claim outcome, I have always continued to break my neck throughout to keep up with my repayments despite being overcommitted throughout and my guarantor has never had to step in. I was never offered ESO until very recently where I declined. Last month Amigo was removed from my credit report and the chasers stopped. (Balance remaining was approx £400)
Can you confirm that I would be eligible for a refund of payments that I have made after the initial claim date? Or would these be paid at the 17p in the £ also?
Thanks
Sara (Debt Camel) says
when did you first claim?
George says
I’m not sure exactly but I recieved my claim acknowledgment email on 15/08/22
Sara (Debt Camel) says
Then you should probably get a refund in full of all payments that you made since 28 May 2022 when the scheme started. (that is assuming at at 29 May 2022 you had already paid more than you borrowed on this loan)
George says
Thanks Sara, yes I had a flick back through my statement and as at May 2022 I had paid about £3k more than the original loan amount.
Appreciate the response. Hopefully I get my outcome letter soon.
Mike says
Hi Sara,
Quick question.
Are the guys that are reviewing these claims on an automated service for some cases?
I had a claim back in 2020, had 5 loans, my claim was accepted for 4 of them and the 3rd one which was in the middle was rejected. I was going through the appeals process and then to the ombudsman as they had added a few thousand pounds un paid interest.
I still have £1800 outstanding on my account, which just the unpaid interest alone would of cleared and now received an email saying my final decision is that my claim is closed as Amigo accepted my previous complaint in 2020. It’s like they havnt realised that there was 1 loan rejected. On the portal the result isn’t showing yet, but want to appeal their decision as I don’t think they have looked at my case properly.
Thanks in advance
Mike
Sara (Debt Camel) says
yes you should appeal this. Amigo is not making deductions for unpaid interest in the scheme, so if the make the same decision as before then you should get more! Even if the 3rd loan isn’t upheld.
Becs says
Hi Mike
I’d be interested to see how this pans out. I have a near identical situation to yours and I’m still awaiting an outcome.
Fully prepared to appeal if the same things happens, I fully expect to get the same email as you. Interestingly my first loan was the one I payed the most payments on and they did not uphold. I told them at the time I was taking contended loan further.
Let the waiting continue!
Becs
Mike says
I’ll let you know how I get on. Do I need to appeal once the final review shows on my portal? Or do I contact them via email prior to that.
It was very strange they upheld all my loans bar one at the time (which was the biggest). When I started this I would have been happy to have a clean slate and owe nothing on the account. Hopefully can get them to review the one Amigo initially declined as unaffordable. Just felt like they just didn’t bother to review it as I had an outcome already.
Watch this space I guess
Lsa says
Hi Sara
Still waiting on my decision from Amigo, my mind is in overdrive, so my question to you is, when they are carrying out their investigation will they be able to see loans/very account that have been removed due to winning cases with FOS, due to ur site I won 2 cases with very and another guarantor loan company which total over about 18 thousand, and I would have had these accounts at the time of applying with amigo, my worry is they won’t see them
When investigating (coz they are not on my file now) ans won’t be taking into consideration when checking the affordability?
Sara (Debt Camel) says
Did you send the Ombudsman a copy of your credit report?
Lsa says
Sorry do you mean at the time
I won the cases for affordability complaints? If that then no. Think they got that all
Themselves. With this amigo complaint i didn’t send them
Anything just put the complain in, and I haven’t had any decision yet?
I wouldn’t have known to keep a copy of my credit file to prove things been removed… god this will go against me then?
Sara (Debt Camel) says
it would have been simpler if you had kept a copy of your credit record from before they were removed. But if your Amigo claim is rejected, you can supply the Ombudsman decisions when you appeal that
Daryl says
I emailed Amigo asking for an update on the % of responses sent out since the last update 2 weeks ago. Radio silence so far, but if I get a response I will share it here.
Daryl says
Well.. as expected:
“We don’t have this information to hand but senior management do update the website every so often, to reflect where we’ve got to with the claims.”
Senior Management only works once in a blue moon it seems!
Scott says
Hi Sara,
I understand the talk of 17p in the £1 payments are to be made in 2 different payments, been 10p in the £1 in February 2024 and 7p in the £1 been September 2024. Is that right to what you have read?
Also when will the Total Refund Value (1+2+3 minus 4) be paid? Will that be paid at the same time as the first payment?
Sara (Debt Camel) says
The “percentage payments” will definitely be paid in two parts, with the first part being the larger. I have heard 10p/7p mentioned but I don’t think that is definite.
There is no reason to delay the “full refund” element. But Amigo hasn’t been clear when it will pay these.
Arth says
Hi there wondering if you can shed some light here sorry if its been asked already i had numerous loans with amigo 3 i think any way i never missed a payment on them and the last one which was approx 7 thousand owed i borrowed money from a family member to pay them back in full so i was wondering would i be expecting redress as i made a claim as soon as it opened many thanks
Sara (Debt Camel) says
I hope so! Not much more I can say.
Harry says
Hi Sara,
Thanks as always for your help on here, definitely helped many!
I wonder if you can help here with regards to what I can expect. Liam was paid in full with no guarantor payments. My figures are below:
Loan Amount Loan Term Date Loan
£2,200.00 36 17/01/2012
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£1,721.67 £200.00 £0.00 £3,076.83
Cash Claim Value £1,814.33
8% Compensation £1,155.15
Total Cash Claim Value £2,969.48
Apologies if the formatting is off.
Sara (Debt Camel) says
About 17% of the total cash claim value 2969 – so roughy £340
Lisa says
Their portal is constantly down so unable to log on for any update
Anyone else having issues?
Arth says
Hi again i have recieved the email with the outcome today wonder if this looks about right if i could trouble you this is the main part but i have also got the break down underneath if you would need to look at it
Interest waived £9,059.81
8% compensation £3,230.08
Non-Affordability claim value £30.00
Claim value £12,289.89
Cash claim value £8,269.33
Total cash claim value £11,529.41
Sara (Debt Camel) says
When was your last payment to Amigo?
Did your guarantor make any payments?
Arth says
Hi sara and thanks for your reply i think my last payment was either very late 2016 or early 2017 which id paid in full as a family member paid it for me thankyou for your help
3 separate loans have been upheld would it be easier if i forward the whole letter
Sara (Debt Camel) says
did your guarantor make any payments to any of the loans?
the reason I am asking is I am not sure why your Claim value £12,289.89 is greater than the Total cash claim value £11,529.41
Arth says
No my guarantor didnt make any payments at all i made sure i paid them thanks sara ill see if i can get the breakdown copied and show you many thanks
Sara (Debt Camel) says
no, go back to Amigo customer sevrices and ask them to explain this.
arth says
hi sara so ive spoke with amigo and why it shows that is my gaurantor did make 4 payments on the second loan for me when i switched bank accounts so thats the reason they took that off apart from that i am thinking it may be best to accept there offer if thats seems the best outcome i can probably hope for thanks again
Sara (Debt Camel) says
is it correct that your guarantor made those payments?
ARTH says
Come to think of it yes i think what happened was i was changing banks so gave my gaurantor the money and he made payments from his account only 4 though
Sara (Debt Camel) says
in that case I am afraid you can’t challenge this. So you may as well accept their offer.
you will get a percentage of the total cash Claim Value – so about £1960
Arth says
I did speak to amigo and the lady said i should expect around £1970 if i accept does this sound about right to you sorry for all the questions sara i do appreciate it
Sara (Debt Camel) says
yes, there was a typo in my previous comment which i have corected
Arth says
Thankyou for all your help and good luck to all those with your decisions and those waiting
Dean says
Hi Sara,
I had 4 loans with Amigo totaling £7500. My claim has been upheld but my total redress due is 0. (part of email below).
On all of the loans my guarantor made some payments (which i then had to pay back to him) and i am being told this is why i am not entitled to any redress. This seems totally unfair, i paid the loans off , paid my guarantor back when he made payments, my guarantor has not made a claim, but yet i get 0 redress. Is there anything i can do about this?
Thanks in advance.
Part of amigo email
As we did not receive payments from you that exceeded the original Loan Amount(s) borrowed, you are not entitled to any cash claim under the Scheme. As your loan is settled and closed, we can confirm that no further payments are due or any balance is outstanding.
As your claim has been upheld in full, we will also ensure that any negative markers reported to your credit file regarding this loan will be removed, in due course. If a County Court Judgment (CCJ) was ever granted against you regarding any of your loan(s), we will also be arranging for this to be removed.
Sara (Debt Camel) says
This is incredibly unfair but it seems there is nothing you can do about it. Amigo slipped this approach into the Scheme details without anyone noticing and it did not make this clear to borrowers and guarantors.
Alex says
Hello,
Wondered if anyone can help please! I am a guarantor for an amigo loan, however it has only just come to light that the person who borrowed hasnt been paying and it has gone into default and about to default on me too.
The credit has been passed over to a company called Lantern who want me to settle by the 30th of Jan otherwise I default too.
I can see on this blog it is too late for me to make a complaint, just didnt know if there were any other avenues I could take?
Any advise welcome.
Thank you
Sara (Debt Camel) says
Did the borrower make a claim to the Scheme? If they didnt, there are no routes you can now take to challenge the affordability of this loan.
If Lantern are threatening to add a default to your credit record, go back to them and say you were told by Amigo that an Amigo loan will never show on your credit record and you would not have agreed to be guarantor if it had.
How large is this debt? What are the rest of your finances like?
Tom says
I wonder how much I will get.
I was a gurantor for someone who stopped making payments, leaving me to take over.
Guarantor Total Payments £9,195.47
8% Compensation £3,403.17
Total Cash Claim Value £12,598.64
Sara (Debt Camel) says
roughly 17% of the Total Cash Claim Value £12,598, so about £2140
Chris says
I would say that’s incorrect. You won’t get back money borrowed only the interest on the payments. I’m no expert so forgive me if I’m wrong.
Sara (Debt Camel) says
A guarantor is entitled to get back all the payments they made, not just the interest on them
Alex says
Sorry to jump in here. I was also a guarantor didn’t make anywhere near as many payments as some of these guys but I did make payments my total is totalling at £778.50 that’s including £185 at 8% I did make a claim and it has been upheld how much will I get back if anything
Sara (Debt Camel) says
how long ago did you make these payments?
Tom says
But I would only get around £0.17 in the pound of all the payments I made as guarantor?
Big thanks BTW for this site and all the advice.
Sara (Debt Camel) says
Yes unless the payments were made recently. When was your last payment to Amigo?
Tom says
I cleared the loan in 2018
Regards
Tom
Sara (Debt Camel) says
Then all the refund will be at 17%
aden says
Hi
I don’t understand how amigo are still reporting missed payments on credit score when my claim was upheld by the adjudicator.
Sara (Debt Camel) says
they seem to not have got a procedure in place to give effect to these upheld appeals – this will get sorted.
Louisa says
I went to the FOS in August 2020 about my 3 loans. On 6/01/21 amigo offered to uphold loan 2 only which I rejected. On 23/01/21 the ombudsman wrote to amigo with their recommendation that all 3 loans were unaffordable. Amigo ignored this and instead on 19/02/21 offered to uphold loan 1 and 2. I rejected this offer and put my claim in to amigo when the scheme was announced. I stopped paying before the scheme as they allowed me to use equitable set off. Hoping I’ll get my decision on my claim soon as still waiting!
Natasha says
Hi Sara,
I had 3 loans with Amigo (Original + 2 top ups), I have certainly paid back more than the original £2000 that was borrowed, but I went into a payment arrangement with them whilst paying back the 2nd top up about two years ago, before stopping paying altogether a year ago. My guarantor has NEVER made a payment, and has been told by amigo that she has been released from the agreement. I’ve also had my credit score wiped of all traces. It previously said I owed around £3500 to them. This is all I ever really wanted (my score cleared). I realise it’s hard to tell without exact figures but I don’t have them to hand but am I likely to receive anything at all back? If I’ve paid more than the original loan, but not cleared the top ups (that were unaffordable and should never have been given). Thanks so much.
Sara (Debt Camel) says
On that little information there is no point in me guessing. Fingers crossed for you.
Lou says
Email reply from amigo said they are hoping to have all claim responses sent out in the next few weeks. Hoping to get mine soon.
Syed says
Still awaiting my final outcome too… Although they have been saying this every month since August 2023.
AJ says
Hello Sara, as I mentioned in my earlier messages in this chat I took out loan from Amigo in July 2019 to repay over 5 years – so last payment due in August 2024. In September 2023 my claim was rejected by Amigo but upheld by Adjudicators in December 2023. I am still waiting for Amigo to confirm the outcome. This morning I received my yearly statement for my loan account and I noticed that Amigo stopped charging interest to my loan account since July 2023. I am not sure why this is and was wondering if you have come across this or if anyone in this chat with an existing loan had the same?
Sara (Debt Camel) says
I have heard some people say something along these lines.
The interest Amigo charges is capped at what it quoted at the start of the loan. So if you took a break from paying (ege during covid) interest would still accrue, but later in the loan it would hit the cap and then stop. but this does not seem to explain what you are saying.
I haven’t been that interest in working out what has happened or why as (a) if you win the claim all interest is removed and (b) it doesnt seem like something you would want to complaint about.
Benj says
Hi, I had a loan that had no guarantor attached. As like others I had this removed from my credit file a few months back.
When I try to log into either the website, or the scheme portal or says no account exists.
I have just received the same generated letter about actual arrears. Should I contact them or leave it as it’s wiped off my credit file, anyway?
Sara (Debt Camel) says
you made a claim to the scheme? have you had a decision on that claim?
Benj says
I did yes, and no, I have not had a decision.
Sara (Debt Camel) says
I suggest you phone Amigo and ask why you cannot log into the portal
Benj says
The same happens on their normal website – not the scheme. “No account exists”
I’m scared phoning them will do me negative favours ?
Sara (Debt Camel) says
well you have to find out what is happening – if you can’t log in, there is no other way.
Jayne says
Hello Sara first time on here but have been reading all your very helpful responses I was a guarantor and paid the loan off in full 2019/2020 due to being sick and fed up of being harassed every month I would make a payment and they would send me a message the day after telling me when the next payment was due like I didn’t know the loan was upheld and the total cash value was £16341.00 they have told me I will only get pennies in the pound I accepted this not realising that I should get it back in full don’t suppose there is anything I can do now ?? Many thanks
Sara (Debt Camel) says
Some payments after December 2021 are being refunded in full. All previous payments, which includes all of yours, will only get paid at about 17p in the £.
Jayne Lewis says
Many thanks Sara was just hoping bet you will be relieved when this is all over aswell 😊
Sara (Debt Camel) says
Definitely!
A says
Guarantor on a loan. Never paid towards it – moved abroad 3 years ago don’t have access to their website but I know the person who took the loan was turned down or I think . Would you normally be notified at the same time. Both made claims I got an email apologizign for delay a while back but No email decision or spam check regularly Cheers Sarah
Sara (Debt Camel) says
They seem to treat the two claims as completely separate. You should hear about yours eventually.