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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Chris Richardson says
Hi
Has anybody received a refund yet ?
Sara (Debt Camel) says
no
Deborah says
Hi Sara, I had my decision a few weeks ago.
My loan was for 5k, finished paying in December 2016.
£5364.37 is cash claim value awarded which included £30 non affordability award. How much of this will I actually receive? Thanks for all your updates and advice
Sara (Debt Camel) says
17% roughly of the total cash claim value number
Alan Crane the God says
Hi Debs, approx £911. I wonder if we get taxed on this too?
I received my claim in December and still await the refund. Will they be processing these refunds in February or later now?
Sara (Debt Camel) says
See the article above for tax.
No one knows when refunds will start to be paid but they will not all be done at once.,so don’t plan on the money arriving until it is actually in your bank account
Michelle says
Has anyone heard if amigo are gonna move the date once again as I still have not received my final response and as we only have 6 days left I can’t see me hearing before them and when I call or email all I get is you will hear very soon and have been hearing that since november
Syed says
Same here, I suppose we just have to wait and see until next week to see what happens.
Daryl says
Wouldn’t surprise me if this keeps going on for a few more months yet!
paula jackson says
I have just read they are now saying middle of march for all emails claim responses.
After being two days ago it will be by the end of january
so still waiting for a reply on my claim
Jim says
Just got this email, what an absolute shambles:
Hello,
We are updating you regarding your claim in Amigo’s Scheme of Arrangement.
To date, we have issued over 75% of outcomes to claimants and, based on the work required, had expected that all responses would be issued by the end of January 2024. Unfortunately, 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.
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024. If you have already received your outcome, you can disregard this email.
The most up to date information will be shared on our Scheme website and FAQs, which can be found here https://www.amigoscheme.co.uk/. We will continue to keep this updated whilst outcomes are issued, and also to confirm details around the timing and amount of payments that will be issued this year.
Once again, thank you for your ongoing patience.
ALL Scheme Ltd
Gabi says
Hi just had a email from them no they say mid march it’s a joke they keep putting it back every time
aden says
they have moved every date they have set. Deadlines mean nothing to them.
L says
This is a bit of a nothing comment, other than to vent. I am getting really annoyed now. Especially, as I was one of those the FOS upheld all claims for and told Amigo to pay out in full. Feeling quite aggravated at these payment details.
Louisa says
Same here they ignored the FOS decision on my loans too it’s very frustrating.
Sara (Debt Camel) says
L & Louisa,
can I ask if you have the decisions?
Louisa says
Hi Sara
I have the recommendation that was sent to them on Jan 23rd 2021. They replied on Feb 12th offering to uphold loan 1 aswell as loan 2 (they had already offered to uphold loan 2) but I declined. That was the last I heard, a final decision was never made as the FOS informed me that Amigo were no longer accepting FOS decisions or something along those lines
Thanks
Louisa
Louisa says
I have the recommendation from 23/01/21. They responded in Feb 21 by offering to uphold a 2nd loan (had 3 and they had already upheld 1) but I declined. Never heard anything since as they stopped accepting FOS decisions I think so the FOS never got round to making a final decision
Sara (Debt Camel) says
Louisa – did you enter a complaint to the Scheme yourself? When was your last payment to Amigo?
Louisa says
Sara I made my last payment early 2021 I want to say March time and yes I put my own claim in, if I remember correctly the FOS emailed me and said Amigo were taking over the complaints so they wouldn’t be progressing it any further.
L says
I know a decision has been made I’m just waiting for the confirmation. But that was also true last month.
Louisa says
I’ve not had a decision on mine yet :(
Sara (Debt Camel) says
L – did you enter a complaint to the Scheme yourself? When was your last payment to Amigo?
L says
These are all historic loans. All settled in 2013 and all upheld by FOS. Shouldn’t be complex at all, but I know that’s just an excuse. I applied to the scheme and amigo said on the phone decision made but just waiting for letter.
Tony says
I’ve just had an email update saying it will be mid March now 🤣🤣🤣 you couldn’t make this up
lsa says
Yeah I seen their update this morning. Absolute joke, they are still saying payments start being made end of feb, so I wonder if they have changed their rule of paying out before all claims been processed. (Doubt it) It’s so frustrating they can get away with this x
Jamie says
Seems Amigo have yet again moved the finish line. If I was late paying one month I was hounded and charged and hounded and charged and threatened, then hounded and charged again! But it’s ok… amigo can take their jolly time moving the goalposts when they please.
My money is on us not seeing anything in return from them and it’ll all be wound down before payments are sent.
Lee says
I totally agree about not seeing any money. What is to stop them keep changing dates until they are fully wound down and no longer exist?
Sara (Debt Camel) says
because they cannot go into a solvent liquidation until they have settled the payments in the Scheme.
Kirsty says
They have updated the website – end of March now for all decisions!
Daryl says
Becoming a joke now! In 2 weeks they’ve increased the responses from 73% to 75%.. do they just have 1 person working there?!
Maureen Walton says
Just had confirmation end of March. 1 loan 1 top up no missed payments or guarantee payments no late payments 1 payment left when they told me to stop paying in November. What is complex about that?
Sara (Debt Camel) says
Nothing at all. This “it’s complex” is just an excuse.
Lee Starford says
Hi Sara
I personally think this behaviour is shocking (but not unexpected by anybody!). My question is can they just keep moving the goalposts? Do they have no outside body to answer to? (regarding time limits, predicted payouts etc)
Sara (Debt Camel) says
They have discretion in the scheme to move the payout date. And no one oversees this.
Lee says
Thanks Sara. I’m beginning to think we will not see any payments personally. I suppose, given how long this has rumbled on it’s difficult to think otherwise
Sara Cooke says
When are we now expecting a pay out ?
Sara (Debt Camel) says
Some may start from end Feb. You cannot plan on the payment arriving at any particular time.
Nate says
Hi Guys,
So finally got my decision back….its as follows:
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
43390889 £5,000.00 36 11/09/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£3,782.20 £0.00 £0.00 £3,782.20
Cash Claim Value £63.38
8% Compensation £5.69
Total Cash Claim Value £69.07
Do these numbers look correct….? for a start I took out 2 loans not 1 the first for 3000 then top-up to 5000 to pay the first one off.
is there much point in appealing this…? the claim value looks low to me…
Sara (Debt Camel) says
so you need to find out why they have not referred to the first 3k loan.
On those numbers you would get about 17% of £69…
The usual reasons why the Total Cash Claim Value is lower than the Borrower refund answers 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
– you have previously had some redress paid before the scheme
If none of those sound right to you, phone Amigo up and ask.
Nate says
Thanks for this Sara for that breakdown of reasoning…
I had to get an IVA part way through paying back the 5k loan….i wonder if thats why.
The issue is the IVA did not write off the loan, and I still paid it off as i did not want to get my Guarantor involved.
I should be able to get statements proving that those payments came from my account…..in this case do you think I have good chance on appeal…?
Sara (Debt Camel) says
I think you should phone Amigo up and ask where the first loans is AND why the cash claim value is so low. If they say payments came from the guarantor, say they did not and you can prove this. Say no money was written off in the IVA as you paid the loan in full.
Nate says
I will give them a call….
Thanks Sara, you really have been a great help god bless you..
Laura says
My claim was rejected so I appealed, and received a letter from Norton Rose Fulbright Scheme Adjudicator, who stated there was no change to my current claim. Does this mean I wont be getting anything? Response from Amigo below:
Thank you for your email.
As your claim has already escalated to the Scheme Adjudicator and reviewed by them, unfortunately there are no further steps that can be taken. The Scheme Adjudicator’s decision is final.
I’m sorry this isn’t the response you’ve hoped for.
Sara (Debt Camel) says
yes it does mean that – there are no further ways to appeal. Do you still have a current loan?
L says
No i paid a 10,000 loan off in December 21.
I feel like im the only person who has appealed and lost. Oh well
Kim says
So angry – just had this update from Amigo. Extending the expected time frame again for responses!
Hello,
We are updating you regarding your claim in Amigo’s Scheme of Arrangement.
To date, we have issued over 75% of outcomes to claimants and, based on the work required, had expected that all responses would be issued by the end of January 2024. Unfortunately, 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.
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024. If you have already received your outcome, you can disregard this email.
The most up to date information will be shared on our Scheme website and FAQs, which can be found here https://www.amigoscheme.co.uk/. We will continue to keep this updated whilst outcomes are issued, and also to confirm details around the timing and amount of payments that will be issued this year.
Jan says
Received this today so doubt anyone’s getting paid in feb
To date, we have issued over 75% of outcomes to claimants and, based on the work required, had expected that all responses would be issued by the end of January 2024. Unfortunately, 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.
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024. If you have already received your outcome, you can disregard this email.
Cj says
We are updating you regarding your claim in Amigo’s Scheme of Arrangement.
To date, we have issued over 75% of outcomes to claimants and, based on the work required, had expected that all responses would be issued by the end of January 2024. Unfortunately, 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.
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024. If you have already received your outcome, you can disregard this email.
The most up to date information will be shared on our Scheme website and FAQs, which can be
Marta says
Hi Sarah,
I received below message from Amigo today:
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024.
Daryl says
Latest email:
“Our plan is to begin processing the first payments from the end of February 2024 and thereafter but it also depends on when your claim outcome has been sent. The first payment is the larger of the two, and will be followed by a second smaller payment 6-9 months later, once there is certainty around the timing of Amigo’s liquidation.
While we’ve made good progress considering the volumes of claims received, we are experiencing a backlog of redress calculations which we’re working through. This is the main reason for the delay because each upheld loan within the Scheme must be calculated on an individual basis, some of which are quite complicated to do. Factors which can contribute towards the complexity of a case may include, but not limited to;
– Live loan balances
– Multiple loan agreements
– Bounced Direct Debits
– Multiple sources of payments such as various cards used or guarantor payments”
Sean Brooker says
Just had an email, now stating mid March to complete claims.
Karen says
I just got an email saying they have completed 75% of claim outcomes but some claims with o/s balances are more complex and will take a bit longer they said all outcomes will be issued by mid March. Another goal post moved.
ed says
So now I get an email saying that I may not hear anything about my claim until the end of March! what a farce
Claire says
I have just seen an email from amigo, they have said AGAIN this is all taking so long blah blah and that they hope to have all outcomes done by mid march!!! Wow.
Del boy Elder says
Got a email saying that decisions will not be finalised until mid march now… what a absolute joke this is… if decisions will be march payments won’t be started too at least may.. looks like another year off this shite is ahead off us folks.
Jmc says
Amigo are saying final responses will drag on till mid March. Absolute sh1te houses of a company.
Look on Amigo’s website
Natasha says
Got the below unprompted this morning. Heart was in my mouth when I saw I had an email and now I am SO SO angry. Mid-March?!?!
“ To date, we have issued over 75% of outcomes to claimants and, based on the work required, had expected that all responses would be issued by the end of January 2024. Unfortunately, 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.
We are still working on finalising your claim outcome. This means that we may be unable to issue your response by the end of January, as initially expected. Please accept our apologies for this delay. We appreciate the frustration and upset this has caused, and are working to resolve this situation as quickly as possible.
Based on the amount of work outstanding, and our revised expectations, we believe that most outcomes should be issued by mid March 2024. If you have already received your outcome, you can disregard this email.”
Sean Mcconkey says
same just had same email, the excitement was amazing then that let down fuming, just beyond a joke now
Adams says
Hey, I’m curious. If my claim is upheld (made through the scheme itself) will I receive a refund of the full payments I made from when the scheme started in 2022?
Question based on this:
you will get a full refund of payments after 26 May 2022, if your first complaint was in the Scheme.
My payments were around £316 so would this mean I get full refund on these for the 16 months post the 26th May totalling over £5000?
Thanks for your help.
Sara (Debt Camel) says
yes IF at that point you had already paid them more than the amount you borrowed, so all future payments were effectively just interest.
Adams says
Ah great! The loan was £8000 and minus interest was paid back in July 2022. It may reduce it slight to 15 and a half payments of pure interest post that date.
Thanks very much for that.
Sara Cooke says
Reading peoples comments because they are saying March for those other people who’s claim has been sorted will we have to wait now until March to get any money instead of Feb ?
Sara (Debt Camel) says
it says they “anticipate that refunds and initial Scheme payments will begin to be paid by the end of February 2024” – it doesnt say that they expect the first payments will all be paid in February.
Del boy Elder says
I don’t think anyone gets paid until all decisions have been made… if they are saying decisions won’t be made until mid march then I suspect the 1st payments won’t be made till the start off may, we will be lucky too have both payments bye October I would think.. the whole situation is very messy..
Thankyou Sarah for being here, if it wasn’t for you I and a lot off others would be totally lost in all this.😉
Sara (Debt Camel) says
I don’t think anyone gets paid until all decisions have been made
There is no reason legally why they have to wait for that.
Daryl says
In all seriousness Sara, is there nothing that can be done to hold them accountable for sorting this mess out?
They’ve completed an additional 2% of claims in 2 weeks, with 25% still to go and they say it will be done mid-March, so in 7-8 weeks? The maths doesn’t add up! Going at the speed they are of completing 1% of claims per week, we’ll still be here in mid-July!
Sara (Debt Camel) says
If I could think of anything practical that would speed this up I would say so. I can’t.
francis kearney says
Hi sara.
Does the amount of people who have rejected their offers. have anything to do with how long this process is taking. I received my e mail today saying it could be march before a decision is reached on my claim.
Sara (Debt Camel) says
No. Appeals are being dealt with by a separate company. It is simply the time Amigo is taking to make and issue the decisions.
francis kearney says
Hi sara
To all those who have had decisions. I don’t see how they can make any payments, until all decisions have been finalised. And they know exactly how much they are going to have to split between everyone who won their claim. Unless I am wrong in this. I am still waiting my decision anyway.
Sara (Debt Camel) says
They know roughly what the decisions will be. so they can work out roughly what the repayment will be. If that comes out in the 17.1-17.6p range, then they are VERY safe if they pay everyone 10p or 11p in the next couple of months.
Daniel Smith says
Also why are they saying there going to make initial payments end of February if there is still so many claim to make a decision on .
If they have done 4% in a month another 25% of claims to complete could take up to 6 months , if they carry on the speed they are going .
Sara (Debt Camel) says
they don’t have to have issued all the decisions before they know roughly what the decisions will be. So they can work out roughly what the repayment will be. If that comes out in the 17.1-17.6p range, then they are VERY safe if they pay everyone 10p or 11p in the next couple of months.
Sarah Williams says
Honestly there has to be some rules around how long they can draw this out for. Absolutely annoying as hell waiting for my decision :(
Sara (Debt Camel) says
there aren’t :(
D says
So not heard back yet but my last loan was a top up of 12000 around the tail end of 2019 and seen 8000 odd of it after my previous loan was cleared, and i paid this 12000 back by dec 21 and continued making payments after this till i entered an eso around summer 2023 due to interest etc piling on every month.
For basically a year the interest was as high as the monthly payments so the loan amount wasnt budging
There was still around 7000 odd left to pay when i entered the eso which has now been wiped and cleared from my credit file
Will this 7000 left outstanding before this was cleared be taken off my cash claim value in the end so i pretty much wont see this full refund do you think?
Sara (Debt Camel) says
If your claim is upheld, the interest is just removed so the 7k balance disappears. The payments you made after Dec 21 will be refunded in full.
Sara Cooke says
I can’t even log on to my account anymore anyone else having problems?
Adamsk says
Out of curiosity do you think they are holding off paying the big lump sums to people who will get back over a few grand?
Seems like because my claim is going to be big they are postponing it as long as possible.
Thanks
Sara (Debt Camel) says
No. They have this mine6 put by for this purpose. Amigo gains nothing by delaying.
L says
If money is being held – large sums especially – is it not accruing interest. I wonder if it’s in a separate pot, for the scheme, it’s not allowed to. But 15 mil in Amy bank account is going to be making a hefty sum. Then they are making money by delaying? Just wondering.
Sara (Debt Camel) says
they aren’t as they are going into a solvent liquidation. Literally all the interest will go to be paid out to cases upheld in the scheme. I understand why people are suspicious and cynical but AMIGO ARE NOT PROFITING FROM THE DELAYS
L says
Oh right. I didn’t realise the interest would go to the scheme too.
Dave says
Good point , but isn’t it costing them a bit of interest every month (8% due to customers). I find it difficult to fathom out how they came to a figure of 17p in the pound compo all those months ago (and they seem to be sticking with it) with the scheme costing them more and more as it over runs by months worth of admin ?
Alex says
Hi I commented further up but after searching emails I found a complaint I filed in 2018. This was about taking payments from me when I was on a IVA which I was later forced into a DRO because amigo refused to opt in when I had to go into one because of them. Anyway I was a guarantor for a loan I received an email with the amount of £778.50 that includes the 8% and it says it’s been upheld. What does this all mean?? I’m very confused
Sara (Debt Camel) says
could you please copy in some more details of the figures from the email please.
Alex says
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
41219877 £5,000.00 60 04/04/2018
Guarantor Total Payments £592.86
8% Compensation £185.64
Total Cash Claim Value £778.50
Sara (Debt Camel) says
So you will get a refund of about 17% of the total cash claim value of 778 so roughly £130
Alex says
Thank you xx
Amanda says
Hi all. Just wanted to remind everyone to check their junk mail if they didn’t get any notification recently. I saw yesterday that people have been told March now for outcomes but I had nothing. I checked my scheme portal online and the decision was there with only 2 days left to respond!
An email had been sent but this had gone into my junk mail because of the formatting they are using in the text (this has never happened for any mail from them before). I’m trying not to be sceptical and hope this is a genuine mistake but something is telling me they’ve designed the respond emails so that mailbox filters will send them to junk mail and people will miss the 30 days deadline.
zoe says
This could be true, mine was also in my junk folder!!
Amanda says
I know from work that using certain words, font styles and images will set an email to be a junk mail. I don’t work in comms specifically but very closely with the team who will tel me what to change / amend for the email to work. I would expect a large corporation like Amigo loaned to have a similar knowledge so I was surprised to see the formatting on the email (that contradicted a number of these rules).
Mart says
Hi Sarah
After numerous loans with Amigo, The last one being £10,000 – I have gone through my statements and we have paid back £14,80 towards that loan, we originally put a complaint in in December 2020 before the scheme and subsequently have been part of the scheme.
Last year we agreed with Amigo to stop making payments as we had paid more than we had borrowed, We received a mail in December to say all liability has been removed from the loan however we have not yet had a decision back. Is it likely that the loan will be closed and we will no longer owe any future payments? In regards to refunds in full is it likely we will receive payments back for the ones made after March 21 as our claim was in beforehand and we had paid back what we had borrowed ? To be honest Anything coming back to us would be a bonus but just concerned that they may reject the claim and we will have to continue making payments which at the moment we can not afford – Thanks
Sara (Debt Camel) says
Is it likely that the loan will be closed and we will no longer owe any future payments?
Yes. Very likely, but not 100% certain
is it likely we will receive payments back for the ones made after March 21 as our claim was in beforehand and we had paid back what we had borrowed ?
[edited] only payments made after December 2021 may be refunded in full
Catherine says
Is it payments after March 21 I thought it was may?
Sara (Debt Camel) says
actually the earliest date is December 2021. It is May 2022 for any claims first made in the scheme. I have corrected the above comment.
Kyle says
Hello,
I stood as a guarantor for my loan, for my partner at the time, because she didn’t have a job so her money was my money. I didn’t make a claim until 2022 but paid the loan of before this time (finished in 2021). Does this mean I am not entitled to a refund if it was not affordable. Any advice would be appropriated.
I did get an email back saying they have responded to my claim, saying I am entitled to a refund of £6.12, I ended up paying 24k to amigo, when lending 10k surely this cant be acceptable. It also says I have 30 days to accept or decline the offer.
Thanks in advance!
Sara (Debt Camel) says
The money that you paid to Amigo – dd that come from your account? Or from her account?
kyle says
My account
Sara (Debt Camel) says
Then that isn’t right. Phone amigo up and ask them to look at this again
Martin says
Hi
I have had my outcome and spoke to someone yesterday at amigo.
There is still over 50,000 letters to be send – they are still sitting at around 75% so little progress is being made.
The comment about payouts in Feb is way off the mark as well – be lucky if it’s before April
Sara Mottershead says
April did they actually say that aswell .
Lee says
Martin. You’re wrong. Read the information on this site before spraffing
Del boy Elder says
He’s not wrong, if it’s going too take till march before everyone has a decision then it will take at least another month too get 1st payment’s organised, this will take us into April, second payments will be 2-3 month after that which will take us too June maybe July.. let’s remember here that it has taken them 6 weeks to get from 72 percent too 75 percent of decisions… we will be lucky too be paid bye September at this rate.
L says
Hi Sara, is there a page about debt collectors? I have a question about it. Thank you..
Sara (Debt Camel) says
https://debtcamel.co.uk/sold-to-dca/
Kristina Kirkman says
Hi Sara
I had my response from Amigo they have rejected my claim saying it was affordable at the time it was taken out. I stated in my claim about having a change in circumstances and the fact that they helped by reducing my monthly payment and the fact I was unable to pay my bills. The cheeky breeders was offering my £30 for causing me problems. I have rejected this and escalated the claim.
Sara (Debt Camel) says
do you think it was affordable at the time the loan started?
Kristina says
Not really. I also stated that if they had a proper look at my credit score they could see I had a couple of defaults on my score. However that was not my doing it was an ex partner who took out debt in my name. I said in my previous comment that Amigo helped by reducing payments. It was meant to have said not helped. In reducing monthly payments. Amigo could see I was having problems because they was threatening to go to my guarantor if I did not pay the full amount. Because of this I could not afford to pay my bills so I had attachment to earnings because I could not pay my council tax.
Scott says
Who is Sanderson and drake? They keep sending me claim updates and I am not sure if they have somehow wangled in as a third party claim specialist or something.
Dear Scott Hall
We have received an offer from Amigo Loans this offer is outside of the scheme this is for payments you made in excess of the capital on loans which are not included in the scheme.
Scheme Claim Value
Cash Award of £1,125.39
Your Total Claim Value is £1,125.39
Your Total Invoice Value is £405.14
Payments for offers outside the scheme will be made towards the end of February 2024. Amigo will make payment directly to you bank account.
Please log into the Amigo scheme portal at your earliest convenience to ensure they have the correct banking details for you to avoid delays with your refund.
Once payment is received please can you arrange payment of your invoice as a payment plan will not be available on a cash refund.
It’s a bit of a kick in the teeth that I’m potentially going to have to pay someone £405.14 of my loan when I don’t even know who they’re.
Sara (Debt Camel) says
They are a Claims firm. If you have never signed up with them reply to their email saying this. And contact Amigo and tell them this
Scott says
Thank you I had a feeling because I was receiving communication from Amigo then shortly after receiving from them too. Would I be entitled to pay them or can I refuse as I don’t know who they’re.
Sara (Debt Camel) says
You need to clarify this now. Tell Amigo. And tell the claims firm.
Ann says
Hi I have had amigo removed from credit file and received letter saying not to pay I have paid back what I borrowed but still owe interest now I try to log into account and I get a blank white page still waiting for final response has anyone been in this position and had a good response yet? Getting frustrated now going on so long
Will says
How can they work out that it’ll be approximately 17% if they don’t know how much they owe? If they’re going to send out 10% in the first wave, why not do that now? There’s no reason to delay that payment any further. Unless they’re hanging on to it for the sakes of interest. I can’t see them resolving these decisions this year, if it was going to happen it’d be done already. They don’t know how much they owe and they’re dragging their feet in an effort to eat into what they have to pay out. Can we all club together and send the bailiffs round to them??
Sara (Debt Camel) says
My guess is they have made decisions about over 90% months f cases, the are just slow on sending them out.
If there was anything practical you could do to speed this up, I would suggest it – I can’t think of anything
Charlotte says
Hi Sara
I received this email a while back 17/10/23 but it is all I have received:
We are writing to you following your request to escalate the outcome of your claim to our Scheme Adjudicator. Before passing your claim to the Adjudicator, we have re-reviewed our decision and would like to confirm that we have changed the outcome of your claim. After reviewing the information available, alongside your rationale for disputing the outcome, we now feel that your claim should be upheld. We are in the process of calculating any compensation due to you and will issue you with an updated Final Response as soon as possible. Please be assured that we will be back in touch in due course with further updates.
Kind regards,
Amigo Loans
—-
My main issue is my credit file as it still shows the Amigo loan and it is affecting my credit score. I haven’t paid back the loan for a couple of years now. Can you tell me if/when my credit file should be updated and what I can expect from Amigo?
Thank you
Sara (Debt Camel) says
Amigo doesn’t seem to be giving any priority to sorting out these upheld appeals. It will get sorted out sometime this year is all I can say.
Linda says
I was a guarantor for a loan in 2017 and paid some of the instalments as the borrower was unable to. It was obvious that this person was struggling and that I would be liable for more payments. When I realised how much interest was being added on I decided to borrow the money from another source and pay the loan off. Will I be entitled to receive anything back for the payments and also for the money I used to pay off the loan. I never received any payments from the borrower.
Sara (Debt Camel) says
You have made a claim to the Scheme?
Linda says
Yes I have
Sara (Debt Camel) says
So if your claim is upheld, you will get a refund of the payments you made to Amigo, plus som 8% interest. But you will only receive a percentage of that, probably about 17%
Linda says
I heard that guarantors would receive any payments that they made back in full because they never had the use of the loan monies. Probably incorrect info. What about the money I borrowed to pay the loan off to stop my liability as guarantor. Thanks
Sara (Debt Camel) says
The redress calculation will give a full refund. But only 17% of this amount is being paid in cash because of the Scheme.
Only the payments you made to Amigo will from part of this calculation
John Gannon says
I personally don’t think that anybody will get anything I had an email from them 6 months ago saying claim upheld but nothing since and wen try and log into portal it just says that my loans are payed up thank you
No letters emails nothing
Sara (Debt Camel) says
you accepted their offer?
Mari says
Hello
Please can someone kindly help or advise me? In 2017 I took out a loan for 5,000 and in 2018 topped it to 10,000. I have paid as of last month the total amount of 23,715. So I paid £13,715 in interest. Amigo sent me the same email as others about my claim being upheld and when they think a decision may be made.
Its all confusing me as I am disabled so I don’t know if I am one of the borrowers who is entitled to any refund.
Can someone please help if possible?
Sara (Debt Camel) says
So Amigo has not sent you a decision?
Have they told you to stop paying?
Mari says
Yes, they told me last week to stop paying as they told me i paid it off early, and took it off the credit report too. They told me my case is upheld and have to wait. I was paying onterest up to june 2022. In total i paid 23,715. I dont know if i am entitked to a refund.
Sara (Debt Camel) says
So you should be owed a refund, but it’s hard to work out the amount without knowing if they upheld the first loan too, and the details about what you paid to each loan.
Sara Mottershead says
Does anyone know if they are going to pay those who have had confirmation on there out come by the end of Feb
Sara (Debt Camel) says
Amigo is now being vague, saying initial payments will start before the end of February – that doesn’t sound to me as though everyone is likely to have received them
Lsa says
Hey Sarah
I have a question for you, not had my final response yet and I just printed a statement today to have a look at how much I actually paid back as I was allowed to enter ESO, however I noticed in total based on a 7250 loan I paid back 8148.72 however 4 payments were made by guarantor totalling £912.56. I have no interest in a refund to be honest (although it would be nice) I just want it to be over and off my file (which it is for now) but I would really rather not have to owe them anything, have u seen anything like this that would make you think I might owe them? I
Sara (Debt Camel) says
does the 8148 include the guarantor payments? or were they in addition?
Lsa says
That includes guarantor payment
Sara (Debt Camel) says
in that case you may owe them about £20
Lsa says
Ok fair enough and then that would be over, am I right in saying there would be no redress but the interest will
Be wiped?
Sara (Debt Camel) says
yes
Mari says
They didn’t mention the 1st loan was upheld as i only started paying it for about a couple of months then took an extention on it from 5,000 to 10,000 with a new guarantor. Tbe guarantor had never been affected or had to pay anything as I kept up with all my payments. Upon working out all payments I paid back the full 10,00 plus 13,715 interest 2 months earlier than should of as i lost track
I read about 8% refunds and full refunds but i didn’t understand them. Can you please elaborate?
Sara (Debt Camel) says
when did you make a complaint, during the scheme?
Mari says
November 2022
Mari says
Can you please explain what Total Cash Claim Value and cash value is?
Use my example of my loan £10,000 and paid £13,750.00 interest so the total I paid is £23,750.00 over 60m @ £395.25 p/m
Thanks
Sara (Debt Camel) says
what do you mean by cash value?
Mari says
I see some people write cash value, some write Total Cash Claim Value also I see the word Redress. I don’t know what any of these mean
Sara (Debt Camel) says
I can’t really guess what other people mean. It will be easy to explain your decision when you have it – just paste the words and numbers in here
Lukas says
Hi Sara can I ask you for calculation I took loan in 2013 I took 4700 I been paying that for 5 years 262 pound a mont my reference is 11703398 can you please can you give my hand to calculate that cheeres
Sara (Debt Camel) says
no, sorry, I have no reason to think that Amigo are likely to get the calculation wrong – come back here when you have a decision if you are unsure
Mari says
Here is an example I copied from above dedducting numbers:
Scheme Claim Value
Cash Award of £
Your Total Claim Value is £
Your Total Invoice Value is £
Also what does redress mean?
Sara (Debt Camel) says
That format is only used in the pretty unusual situation where someone is getting additional compensation outside the scheme. There is no point in me trying to explain it to you as it is very very unlikely to be relevant to your case.
I’m sorry, but much the simplest thing is to wait and see what your decision is. It will be a lot less confusing.
Rebecca says
Hi Sara
I’ve just had a letter of rejection for my claim. I had 5 top ups from Amigo and all 4 were upheld in 2020 but the first loan was not.
The loan was for 5000 pounds, payments were approx 220 per month and my wages at the time were 800 per month., in total I paid back 11000 so approx 6000in interests.
I am going to appeal as I just kept getting further into debt throughout the loan term.
Also my mother was my guarantor and during the application process amigo contacted me by telephone to say the loan payout would not cover all my debts. I panicked as I thought they wouldn’t payout and said my mother was lending me the difference stupid I no but they were happy enough to payout based on this conversation. Any thoughts on how to position in my appeal?
Thanks in advance
Rebecca
Sara (Debt Camel) says
So you had your claim partially upheld by Amigo in 2020? And you then received a cash payout and your balance was wiped?
Did you guarantor make any payments?
What exactly does your current decision say?
Rebecca says
Yes that’s correct, no my guarantor did not make any payments.
Our Decision
We have carefully considered the information relating to your loan/s available on Amigo’s systems, and any
supporting information you provided in support of your claim. Based on all of this information we have
concluded that we are satisfied that the loan agreement(s) was affordable for you at the time it was
entered into. Therefore, your claim has been rejected.
We have found that:
● A review of your credit file along with a satisfactory ‘buffer’ of disposable income supported
Amigo’s decision to lend;
● The financial commitment agreed with you was clear, and Amigo carefully considered your ability
to sustainably maintain repayments at the agreed level;
● You were aware of, and appropriately informed about, the financial commitment you were
entering into, and
● Our assessment that Amigo should enter into this loan agreement(s) with you was not
unreasonable, unaffordable, or unfair, considering the circumstances.
Due to this, and based on all the information we have reviewed including supporting documentation and
literature, we have deemed your loan to be affordable and therefore your claim has been rejected. This
means that no redress is due to you within the Scheme.
Our decision comes without prejudice to any future position on this, or in any other case.
Redress
In addition to the Affordability concerns addressed above, you have also raised a Non-Affordability claim
. This claim relates to matters that are separate to the sale of your Amigo loan, or the
ability to repay this.
We have made the decision to uphold your Non-Affordability claim and provide you with £30 in redress, as
an apology for any inconvenience or upset caused.
Next Steps
You have 30 days from the date of this letter to log into our Scheme Portal at http://www.amigoscheme.co.uk, in
order to confirm your bank details for payment and let us know whether:
● You agree with this decision; or
● You disagree with this decision (and give us reasons why you disagree). Examples of why
you may disagree are:
○ You believe that we have reached the wrong decision in respect of the loans that
have been upheld
○ You believe we have missed issues that should have been raised in your Scheme
claim that needs to be reviewed, or haven’t accounted for all payments made by
you.
This was also included in the letter, to much text for one post. When I log into the portal it still says final response due. So I can’t appeal just yet
Sara (Debt Camel) says
So this is just about the first loan, not about the 4 subsequent laons athta were upheld?
Is Amigo saying you owe them money?
Rebecca Johnston says
Not not at all, just that they have rejected the first loan. The call I had with Amigo was when I was going through the application process for the first loan. Sorry if that wasn’t clear
Sara (Debt Camel) says
When Amigo upheld the later 4 loans, did they make. Deduction for Unpaid Interest?
Rebecca Johnston says
No, they actually refunded approx 1400 interest on the first loan even though they didn’t uphold as they said they charged me too much. I actually paid back 12400 on the 5000 pound loan so even with the 1400 pounds refund there’s still approx 6000 interest. The phonecall at the application stage is the bit that I would be using to appeal however I’m concerned they will just throw it back in my face saying I should have been more truthful.
Sara (Debt Camel) says
Ok well don’t try to second guess what may happen. Just set out what happened with the first loan and that Amigo had warned you it wouldn’t be enough to clear your debts. They should not have taken your word for your guarantor clearing the rest unless they had checked that with your mum, and I bet they didn’t.
K says
Hi
I just received an email after questioning the morality of there constant extensions and the impact this has on a lot of people.
They have stated that the refunds will “start to be made at the end of feb onwards” and that the reason it’s delayed is to make it fair on those who won’t be getting one and also to avoid confusion as they want to make both the full refunds and first scheme payments together.
I have no doubt we will be waiting months for refunds.
I questioned why they can’t issue the full refunds once they have been accepted so that they would then have more time and resource to complete the scheme.
peter says
hello Sara if you could possibly work out what I might receive back as my claim was upheld?
as follows
interest refund 11.272.42
total borrower 11.272.42
cash claim 10.014.11
total cash claim 11.447.11
would just like too thankyou for your hard work time and patience
thankyou
Sara (Debt Camel) says
when was your last payments to Amigo?
Susan says
Good afternoon Sara ,
Iv been paying my amigo loan every month I made my complaint in March 2022
It has been removed from my credit file and my guarantor received a email saying he’d been released ( he made no payments )
I haven’t received any outcome or a email to tell me to stop paying but should I ? Is this all a good sign Iv won my case ?
Sara (Debt Camel) says
It is a good sign that Amigo has decided your loan was unaffordable. Nothing is certain until you get the decision though.
How much did you borrow and how much have you paid so far?
Susan says
I borrowed £5000 over 60 months and have £3360 left to pay , I only took one loan , but when they called to run through my income before they agreed my loan , the guy on the phone said to me “ your income is to low you won’t be able to afford repayments “ the next day it was approved
Sara (Debt Camel) says
I am so glad this firm is going out of business and can’t ruin more people’s lives.
Mick says
As I was a guarantor (foolishly) I had made all the payments and had paid the loan off in full because the person who took the loan did a runner. As the guarantor, do I get a refund in full or just the 17p in the £1 ?
Sara (Debt Camel) says
When did you last make a payment to Amigo?
Mick says
I paid the loan off in full approx 5/6 years ago from what I can remember. I made every single payment and it cost me about £15k in total if not more
Sara (Debt Camel) says
the first step in calculating what you will get is to take the full amount you paid as your redress . (For a borrower this is not the full amount paid, it is only the interest paid).
But Amigo doesnt have ebough money to pay everyone in full, so all cash refunds, to guarantors and borrowers, will only be paid at a percentage, Amigo says about 17%. Unless any of the payments are recent, in whoch case they may be paid in full, but none of your are.
So all your refund will be at 17%. Or whatever the percentage turns out to be.
grant says
Hi Sara, got this through from amigo.
Just trying to figure out what is due back.
Many thanks Grant
Payments made after Scheme Effective Date (1) Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£15,600.33 £0.00 £0.00 £15,600.33
Cash Claim Value £11,167.19
8% Compensation £2,046.88
Total Cash Claim Value £13,214.07
£0.00
Payments made before Scheme Effective Date (2) £3,178.24
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) £3,178.24
Sara (Debt Camel) says
You will be paid these recent payments IN FULL: Total Refund Value (1+2+3 minus 4) £3,178.24
in additiion:
You will also receive a PERCENTAGE, probably about 17%, of Total Cash Claim Value £13,214.07
Stewart says
Hi Sarah,
Amigo said they would pay back some of the final payments I made in February, is this still likely to happen this month. It was my last 2 payments on the loan so about £800
Sara (Debt Camel) says
I hope so but there are no guarantees about when anything will be paid.
Stewart says
Thanks Sara
ali says
Hi Sara, currently waiting for a decision and have been sent an email saying decision can take up mid-march
Can see that it is off my credit report,
wondering what I may expect in the likelihood of an upheld claim which seems positive, reading their previous emails:
24 Nov 2017
Settlement of old agreement
£4,320.51
24 Nov 2017
Payout
£5,679.49
24 Nov 2017
Opening Balance
£10,000.00
I took out £4320.51
and then immediately £5680 thereafter totalling £10,000
Adding up my payments I have roughly made 11/12k of payments (not precise)
Still have an outstanding balance of £3660.41
and last payment was
06 Dec 2021
for £150.00
thank you so much!
Sara (Debt Camel) says
it depends whether the first loan is upheld. Really it is better to wait and get the decision.
ali says
Thank Sara, to clarify I just made one claim for my loan – explaining both loans and the reason of unaffordability altogether
upon reading your reply and other comments: will they treat this as two different loans and claims or treat it as one loans of £10,000
lastly, does the loan coming off my credit report mean – guarantor is released?
thank you!
Sara (Debt Camel) says
it is two loans – the first loan and then a second loan of 10k which settled the first loan. Amigo will assess each of them for unaffordability
a loan coming off your report is a good sign that it will upheld and the guarantor released – but this isn’t certain until you get the decision
Daryl says
Hi Sara,
Not asking for any calculations from you as I haven’t had my final decisions yet, more just clarity on my understanding. My loan details are as follows: (Taken from my account statement)
Borrowed: £10,000.00
Repaid: £20,157.75
Interest Paid: £13,715.00
Repaid £10,000 by April 2021.
Initial Complaint November 2020, then joined the scheme when it was effective from May 2022.
Made payments of £7,114.50 from 1st December 2021.
If all goes well, I should get the £7,114.50 back in full, and then it is the 17p part I am confused about. Is that 17p on ALL interest paid over the duration of the loan or just the interest paid AFTER the initial £10,000 was repaid?
Thanks
Sara (Debt Camel) says
ALL interest paid over the duration of the loan or just the interest paid AFTER the initial £10,000 was repaid
those come to the same thing, they are just different ways of calculation it.
BUT the 17% will apply to this interest calculation LESS the amount that is being repaid in full because its after Dec 2021.
Daryl says
Thank you! Just wanted to get clarity, now to sit and continuing waiting for the outcome!
Sam says
Its bad that i have mentally spent the refund money. Paying other debts off knowing that i probably wont see the money for many many months.
Really do hope payments are still on track for end of Feb. We have all been more than paitent enough. 🤞🤞
Rebecca says
Hi
Just an update on anyone that has appealed recently. I escalated my claim as it was not upheld. Amigo have emailed stating if they can’t resolve my claim in 30 days and it goes to the independent adjudicator, it may take until May to get a response from them.
Not the best news 😕
Boomer says
Hi Sara, I am in a similar situation where I was a guarantor and paid off the loan in full in the end. I have made a claim and has been upheld. Totalling under 15k total cash claim value. I paid over 10k to clear this by borrowing money to free me from this stress and missed payments emails. Do I get a full refund of what I cleared off or only 17% of it as I feel that’s not right. Please clarify much appreciated
Sara (Debt Camel) says
When was your last payment or Amigo?
Post in the numbers on your decision.
Christopher Stanley says
Finally got my outcome today after thinking it will never come. First loan was in 2010 so nice outcome shame i didn’t do it before the scheme.
Dear Christopher
We’ve reviewed your claim against ALL Scheme Ltd (‘SchemeCo’), regarding the loan(s) you held with Amigo Loans Ltd (‘’Amigo’’). This was reviewed as part of our Scheme of Arrangement (‘’Scheme’’). You can read more about this at http://www.amigoscheme.co.uk/.
Claim Outcome: Upheld Total Cash Claim Value = £20350.35
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full. You will only receive a small proportion of the Total Cash Claim Value through the Scheme, as a pence in the pound payment.
Ange says
Hi ,
My claim has been settled but still no payment from them.
I have not received any emails from them either updating me of their progress which I find very strange.
What on earth is going on !
Sara (Debt Camel) says
When you say your claim has been settled, do you mean upheld?
No one has been paid yet. Tens of thousands of people are waiting.
Amigo has badly underestimated the scale of the task it has.
Louise says
Hi Sara, if I accepted the upheld loans but rejected the ones not upheld will I still get payments for the upheld loans?
Kind regards
Sara (Debt Camel) says
Yes. They aren’t going to change their mind and say they will uphold fewer.
Louise says
Thank you for advising I appreciate it Sara. if I have paid in full will I get the full balance or just 17%?
Sara (Debt Camel) says
Can you paste in the Summary of the numbers you have been sent?
Louise says
reeOutcome Reached For This Agreement
£500.00 12 10/07/2018 Upheld
£1,000.00 36 07/08/2018 Defended
£2,250.00 36 02/11/2018 Defended
£2,750.00 24 10/04/2019 Upheld
Cash Claim Value £972.32
8% Compensation £79.46
Total Cash Claim Value £1,051.78
And I received this today
Dear Louise,
We are writing to you following your request to escalate the outcome of your claim to our Scheme Adjudicator. Before passing your claim to the Adjudicator, we have re-reviewed our decision and would like to confirm that we have changed the outcome of your claim. After reviewing the information available, alongside your rationale for disputing the outcome, we now feel that your claim should be upheld. We are in the process of calculating any compensation due to you and will issue you with an updated Final Response as soon as possible. Please be assured that we will be back in touch in due course with further updates.
All loans was repaid in full 29/8/2021
Sara (Debt Camel) says
good! When did you ask for the loans to be escalated?
Louise says
Thank you I did it on the date the email came out the 20th December. Will I get paid the full amount or a percentage? The loan was paid in full.
Sara (Debt Camel) says
you didnt make any payments after December 2021, so all your redress will be paid at a percentage, not in full.
Louise says
Oh my mistake glad I checked with you I thought if paid in full and made complaint before 1st December 2021 you would get a full refund. But as you’ve said you would have also needed to have been still making payments after December 2021 to get refund thank you for helping me