UPDATE
March 2025 – final scheme payment announced
Amigo has announced the last percentage payment will be 6.01%. Together with the first percentage payment, this takes the total up to 18.51%.
The amount you will receive will be a bit less than half the previous percentage payment you received. (If you have received 2 payments, the one from Amigo Loans was an “in full” refund for payments you made to Amigo after May 2022, and the one from ALL Scheme was the first percentage payment.)
These payments will be made in the next 3 weeks in batches. They will be paid in order of the date of the Amigo Decision email you were sent.
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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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 the bank account details on your Portal Account.
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 overview:
- 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 were sold to Intrum before 2022 It 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 have been paid the first percentage payment (and any full refund) and are now waiting for the second one
Nothing will happen until the end of the 2024.
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
- 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 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…
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.
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 Amigo Loans will be liquidated. the Scheme continues in “Fallback Mode”
- Without the £15m from creditors, there will now be less money available for cash refunds.
-
When the Scheme was proposed in early 2021, Amigo said it expected people would get paid 41p in the £. So if the refund on your Amigo loans was calculated at £1000, that suggested you would get £410.
That never looked likely to me. Amigo always refused to say how it calculated the number and, crucially, how many complaints it expected to receive.
So I wasn’t surprised when the November Scheme Supervisor’s Report said that 210,000 claims had been received and that this was a lot more than Amigo had expected. With more claims and the same amount of money to divide, the estimate of refunds had halved to 20p in the £.
That November report also contained a new estimate of what may be paid in the Fallback option – 17p in the £. This is the best indication we have of what may now be paid out.
- it is now expected that Amigo the first payments may be made in late 2023 and there may be a second, smaller 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.
Both borrowers and guarantors could make a claim to the Scheme.
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.
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
Should you appeal a decision?
The deadline for appeals has now passed
Sale of loans to Lantern
Many remaining loans have now been sold to Lantern.
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.
If you or your guarantor has a problem paying Lantern, talk to a good debt adviser – your local Citizens Advice or if you prefer phone National Debtline on 0808 808 4000.
Ashley says
Hi I wonder if you could help me out how much I will
Get retuned back to me
Appendices
| Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved |
| | £5,000.00 | 24 | 05/06/2017 |
| | £10,000.00 | 60 | 24/07/2017 |
| Interest Refund | Fee Refund | Reinstated Interest | Total Borrower Refund |
| £12,107.29 | £0.00 | £0.00 | £12,107.29 |
| Cash Claim Value | £11,881.36 |
| 8% Compensation | £1,650.69 |
| Total Cash Claim Value | £13,532.05 |
Sara (Debt Camel) says
About 17% of the total cash claim value, so roughly £2,300
Ashley says
Will it be just the 2300 I will get it addition other payment on top of that
Sara (Debt Camel) says
There won’t be any more unless there are some other figures that you haven’t posted eg in a box headed refunds below the figures you have Posted.
Caroline says
Hi, I got my email through for my claim, said I have paid 12000 in total on my loan when I was told it was over 18,000 only offering to clear my loan balance and not getting any compensation or redress paid back to me, is this right?
Sara (Debt Camel) says
Did you just have one loan? Did your guarantor make any payments?
How large was the last loan and how much have you paid to it?
Caroline says
Yes he did make payments, as I couldn’t yeah I have 3616 left on loan, I have been paying towards too, said I over paid by 12,000 but I won’t have any redress to myself only clear my loan
Sara (Debt Camel) says
did your guarantor make a claim?
Susan Hegarty says
Can I ask your advice Sara on behalf of my husband who also had a claim. He has received his outcome today.
He had 4 loans and the first 2 have been upheld. His last 2 were upheld however they have deducted interest from his claim. He had paid more than he borrowed and so I would have thought this would have been waived.
Thanks for all your help as always.
Following our investigation, your claim has been partially upheld. Based on our valuation, part of your Scheme Claim will be used to settle in full your live outstanding loan balance* of £6,040.35 due to Amigo and means you have a Scheme Cash Claim for the balance of £8,635.90.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Sara (Debt Camel) says
the first 2 have been upheld.
do you mean rejected – Amigo calls this Defended?
when did you last make a payment to Amigo? Has Amigo supplies numbers for each of the last two loans and a summary?
Susan Hegarty says
Hi sorry yes defended first 2 and last 2 upheld.
Loan Amount Loan Term Date Loan Approved Outcome Reached For This Agreement
£3,000.00 36 09/06/2014 Defended
£7,000.00 60 09/01/2015 Defended
£7,500.00 60 07/09/2016 Upheld
£10,000.00 48 02/09/2017 Upheld
Interest Refund Fee Refund Reinstated Interest
£13,397.14 £0.00 £0.00
Following our investigation, your claim has been partially upheld. Based on our valuation, part of your Scheme Claim will be used to settle in full your live outstanding loan balance* of £6,040.35 due to Amigo and means you have a Scheme Cash Claim for the balance of £8,635.90.
Last made a payment in around July 2021 and went into eso as paid more than borrowed.
Sara (Debt Camel) says
ok then you can appeal the two defended loans if you want – that second one was large!
You went into ESO before Dec 2021, so all your scheme cash claim of £8,635 will be paid at a percentage, probably about 17%
Susan says
Yeah he has appealed them both. Thanks again for your help Sara. Raging he got his before me right enough 😂
Tom Delaney says
Sara,
Just received this update from Amigo…
Following our investigation, your claim has been partially upheld. Based on our valuation, part of your Scheme Claim will be used to settle in full your live outstanding loan balance* of £4,728.38 due to Amigo and means you have a Scheme Cash Claim for the balance of £1,120.15.
Does this imply my loan has been paid off completely and there is a residue of £1,120.15 of which I may get 17p in the pound (or summat) at some future date ?
Cheers
Sara (Debt Camel) says
so you had more than one loan and at lest one has been rejected – Amigo says Defended. You can appeal any of thiose – it will help if you can supply bank statements for the 3 months before the loan with your appeal.
When did you last make a payment to Amigo? what is the current nalamce of the last loan?
is there a summary box anywhere?
Tom Delaney says
Yes, 3 loans were “defended” dating back to 2014 which I may contest…..if I can find the relevant bank statements.
The last, in 2018 was upheld.
I ‘ve been paying a reduced amount each month for about a year but stopped the DD in Jan after being advised by Amigo on 12th Jan.
“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.”
The “Agreement claim value” total was £13,708.28
The “Agreement set off refunds” claim value is £8,285.79
The outstanding loan balance is £4,728.38
…so where does the £1,120.15 come from ?
confused.com
Sara (Debt Camel) says
ah.
I think you will get £1120 paid at a percentage, probably about 17%
PLUS a refund in full, not at a percentage of £8285
Add those together plus the write off of 4728 and you get £14,133
My guess is that is more than the Agreement claim value total of 13,78 because of 8% interest added onto the in full cash refund part.
BUT I am not certain. Could you phone Amigo up and check about the amount that will be paid at a percentage and the amount that will be paid in full?
Tom Delaney says
Sara,
Just got off the phone with Amigo.
You are correct….the £1,021 will be paid at 17p per £.
The £8,285 will be paid in full.
Payments begin at the end of Feb.
Many thanks
Tom
David S says
Hi Sara, can you clarify the below please before i accept this its hard to understand what my entitlement is, thanks.
Agreement 39793119
Date of payout 04/01/2018
Amount borrowed £2,250.00
Other party Alexander S
Your party type Borrower
Outcome Defend
——————
Agreement 41236844
Date of payout 07/04/2018
Amount borrowed £5,250.00
Other party Alexander S
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £2,270.04
8% compensation £0.00
Claim value £2,270.04
—————————
Agreement 48545273
Date of payout 20/06/2019
Amount borrowed £12,000.00
Other party Scott S
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £16,458.00
8% compensation £280.05
Claim value £16,738.05
Agreement set off refunds
Refund of payments made £4,943.00
8% compensation £425.86
8% compensation tax £85.17
Claim value £5,283.69
Sara (Debt Camel) says
So you had three loans, Amigo has rejected your claim for the first one. You can appeal that if you want. Supply your bank statements for the 3 months before Jan 2018 with your appeal.
Amigo has accepted that the 2nd and 3rd loans were missold. Did you owe money on the last one?
Is there a summary box anywhere?
David S says
Hi Sara i can just see this then above is the rest of the information i can see
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance of £7,863.10 and means you have a Scheme Cash Claim for the balance of £6,201.99. Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Total Agreement Set Off Refunds
Refund value £4,943.00
8% compensation £425.86
8% compensation tax £85.17
You have an outstanding refund of £5,283.69
Sara (Debt Camel) says
ok Amigo has unhelpfully changed all their terminology and layout in these decisions.
I think you will get a percentage, roughly 17%, of “Scheme Cash Claim for the balance of £6,201.90”
plus you will get “an outstanding refund of £5,283.69” paid in full.
However I am at the moment not confident – can you phone Amigo up and check that is right? They should be able to confirm it on the phone.
David S says
Hi Sara, i phoned and checked and thats correct the 5283.69 paid in full and percentage of 6201.90, thanks for your help
Laura says
Hi, I’ve received my email stating there upholding two of my claims. I’ve got an amount of £204 cash scheme payment but then another table stating what I’d paid back after the claim went in being total amount £5612. I had to accept both amounts? But I’m confused as what I am actually getting back! Thanks
Sara (Debt Camel) says
I think that means you will be paid a percentage, probably 17% of £204
AND you will also have refunded £5612 in full, which were the more recent payments.
Adam says
Received the following outcome
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved Outcome Reached For This Agreement
11819319 £1,000.00 36 14/05/2013 Defended
16638639 £2,500.00 60 16/06/2014 Defended
22534939 £3,500.00 60 08/06/2015 Upheld
36132384 £6,000.00 48 25/04/2017 Upheld
43788467 £8,500.00 60 03/10/2018 Upheld
Following our investigation, your claim has been partially upheld. Based on our valuation, part of your Scheme Claim will be used to settle in full your live outstanding loan balance* of £9,691.16 due to Amigo and means you have a Scheme Cash Claim for the balance of £7,594.96.
Rather confused by the live balance of 9691.16 as my latest loan has been upheld and I had paid off the principal sum and entered equitable set off for the interest in that loan
Sara (Debt Camel) says
I always talk about the balance being wiped and any interest paid being refunded. But Amigo’s calculations take the current balance and credit back the interest in that. It should work out the same.
So first of all – will you be appeal the defended loans? Especially the second, as the first was very small?
Have they given you the detailed figures for loans 3,4 and 5? And a summary?
When did you enter equitable set off?
Adam says
I went into Equitable set of in September 2021.
Details from the last three, also does the compensation also come under the 17p to the pound please.
Escalate
Agreement 22534939
Date of payout 08/06/2015
Amount borrowed £3,500.00
Other party Leonard
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £2,482.95
8% compensation £0.00
Claim value £2,482.95
Accept Escalate
Agreement 36132384
Date of payout 25/04/2017
Amount borrowed £6,000.00
Other party Leonard
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £3,306.26
8% compensation £253.82
Claim value £3,560.08
Accept Escalate
Agreement 43788467
Date of payout 03/10/2018
Amount borrowed £8,500.00
Other party Leonard
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £10,244.79
8% compensation £998.30
Claim value £11,243.09
Sara (Debt Camel) says
Is there a section that says Summary of outcome?
Or an appendix giving totals?
Dc says
Hi Sara, can you check these for me please? Do they seem right? This is for two separate loans. Can you break them down for me please? Appears that there are two separate payments due to me?
I still have an outstanding balance of £1900 and the email states that the £1739.94 will be used to settle my balance. But the other figure (£1323.98) is the other loan and I’m not sure whether this is a refund for the amount paid?
Thank you
Agreement 38039656
Date of payout 15/09/2017
Amount borrowed £3,500.00
Other party
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £1,323.98
8% compensation £0.00
Claim value £1,323.98
Accept Escalate
Agreement 43846276
Date of payout 11/10/2018
Amount borrowed £7,000.00
Other party
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £5,047.67
8% compensation £0.00
Claim value £5,047.67
Agreement set off refunds
Refund of payments made £1,689.58
8% compensation £62.95
8% compensation tax £12.59
Claim value £1,739.94
Accept Escalate
Sara (Debt Camel) says
is there a summary? in an appendix possibly?
Dc says
Hi Sara,
Here is the appendix but seems to be no mention of the £1323.98 .. do you think this email is about one of the loans rather than both? Thank you
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
38039656 £3,500.00 24 15/09/2017
43846276 £7,000.00 36 11/10/2018
Interest Refund Fee Refund Reinstated Interest
£6,371.65 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, your Scheme claim will be used to settle in full your live outstanding loan balance* of £1,900.13 due to Amigo, with no future payments due to be paid, and no further redress due to you, from your claim.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,689.58
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £62.95
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £12.59
Total Refund Value (1+2+3 minus 4) £1,739.94
Sara (Debt Camel) says
The Interest Refund of £6,371.65 in trhe appendix looks like the sum of Interest waived £1,323.98 on the first loan plus Interest waived £5,047.67 on the second loan.
So the first loan hasnt got lost.
You will get this bit paid in full – Total Refund Value (1+2+3 minus 4) £1,739.94
And the balance of £1900.13 wiped…
But £1900.13 plus £1,739.94 is a lot less than £6,371.65 … so where has the rest of the interest refund gone to?
Did your guarantor make any payments?
Dc says
No my guarantor did not make any payments. So I am very unsure of where the rest of the interested refund has gone?
Will I get the £1739.94 paid in full and the outstanding £1900.13 balance wiped? Or will the £1739.94 be used to settle the outstanding balance?
Thank you
Sara (Debt Camel) says
I think you need to phone Amigo up and ask. Those numbers don’t make sense to me.
Dc says
Okay thank you for your help I will call and find out.
Can you explain what the refund set off agreement is please?
Sara (Debt Camel) says
“what the refund set off agreement is”
where does it say that?
Dc says
Agreement set off refunds
Refund of payments made £1,689.58
8% compensation £62.95
8% compensation tax £12.59
Claim value £1,739.94
Accept Escalate
Sara (Debt Camel) says
ok the “agreeement” is your loan. The set off is because under standard insolvency practice you will get a full refund of payments made during the administration/scheme that turn out to need refunding. the “refund” is because you get this money back in full, not subject to the percentage of an unsecured claim. Basically this is legalese you can ignore. There is no specific “refund set off agreement” as a stand alone document.
Dc says
Okay thanks Sara. On the portal it says this:
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, your Scheme claim will be used to settle in full your live outstanding loan balance of £1,900.13, with no future payments due to be paid, and no further redress due to you, from your claim.
Total Agreement Set Off Refunds
Refund value
£1,689.58
8% compensation
£62.95
8% compensation tax
£12.59
You have an outstanding refund of £1,739.94
Does this mean I will receive £1739.94 or will this be used to pay off the remaining balance? Thanks for your help
Sara (Debt Camel) says
As I said before:
You will get this bit paid in full – Total Refund Value (1+2+3 minus 4) £1,739.94
And the balance of £1900.13 wiped…
But £1900.13 plus £1,739.94 is a lot less than £6,371.65 … so where has the rest of the interest refund gone to?
I don’t understand the figures and I am not sure they are right.
Abbey says
Hi Sara
Hope you can help me I received my outcome today from amigo I took out 4K loan – remaining balance on loan £1195.40
I was paying amigo up until the point they said we could all stop making payments.
Complaint upheld
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, your Scheme claim will be used to settle in full your live outstanding loan balance of £1,195.40, with no future payments due to be paid, and no further redress due to you, from your claim.
I was under the impression the payments I was making would be refunded in full as I complained numerous times before December 2021. I am feeling like they have taken the right mick allowing me to continue paying during this whole scheme and not giving me them payments back. I wish I stopped them sooner.
I have obviously paid back more then the 4K borrowed but are they getting out of this because of the owing balance? I thought it was aslong as I had paid more then the 4K?
Should I escalate?
Thank you
Sara (Debt Camel) says
Is there another box beneath that that says something like total agreement set off refunds?
Abbey Jordan says
No there isn’t the only other box is the below
Date of payout 08/02/2018
Amount borrowed £4,000.00
Other party ************
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £4,212.80
8% compensation £0.00
Claim value £4,212.80
I feel like the total amount paid to date should be stated in my outcome and it isn’t, I’ve paid them near enough 7k. I was at least expecting my payments made during the duration of the scheme to be paid out :(
Sara (Debt Camel) says
It doesnt sound right. Phone them and ask why the claim value is larger than the balance but you are not getting a Set Off Refund.
Tania says
Hi, I have had my claim upheld and says
Total cash claim value £4445.21
But it also says I have an outstanding refund … set off refund value £2605.09
I made my claim on 31-01-2022 and had paid of nearly all my loan finished paying December 2022
The set off refund..is that what I get on top the 17p per £1 of my total cash claim value
Sara (Debt Camel) says
yes, the set off refund is more recent payments that are refunded in full, The total cask claim value part is paid at abount 17%
Jonny says
Hi Sarah.
I’ve just had my outcome for a live loan that I had
Stopped paying over 2 years ago. They have upheld my claim on all 4 of my loans (initial plus 3 top ups). They are using the claim to settle the loan and remove all markers from my credit file. I am more than happy with this outcome. Obviously my guarantor is now discharged from liability as well.
Not sure how many current loans have been dealt with yet but clearly they are now starting to which is good news for anyone still waiting.
Kate says
What does this mean?
| Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | £2,000.00 | 36 | 29/06/2016 | | £5,000.00 | 48 | 06/09/2016 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £5,229.13 | £0.00 | £0.00 | £192.29 | £5,421.42 |
| Cash Claim Value | £1,379.29 | | 8% Compensation | £192.29 | | Total Cash Claim Value | £1,571.58 |
Cash Claim Value = Claim Value minus any payments to the loan that you have not made.
Total Cash Claim Value = Cash Claim Value +8% interest as compensation
Sara (Debt Camel) says
Are there any more figures?
Kate says
Claim Outcome: Upheld Total Cash Claim Value = £1571.58
Sara (Debt Camel) says
ok on those numbers you will get a percentage, probably about 17%, of the total cash claim value of 1571, so roughly £270.
But the total cash claim value is a lot less than than the interest paid on the loan of 5229. The common reason for this is that your guarantor made a lot of payments. Did they?
Tania says
I thought so just wanted to check… so I will get £2605.09 as well as my total cash claim (worked out around £755
So in total around £3300 (estimate)
Sara (Debt Camel) says
Yes that looks right
Daryl says
Seems like a lot of people are suddenly getting their outcomes back?
Tara says
Hi all
I have finally received my outcome email today and excepted the decision this evening. My claim was upheld and valued at £3.590.79. I have an outstanding balance at this exact amount with Amigo loans and I have been advised that my claim valuation will be used to settle the loan in full and no future payments due or further redress owed to myself, and all credit reports will be updated. It’s exactly the outcome I hoped for and I’m so glad it’s over and I can now move on and start repairing my credit report. I do wish everyone that is still waiting to hear, a successful outcome. Thank you, Sarah, for creating this forum for use all to share and gather information, its helped so many people and the amount of time and energy you have applied to this is really appreciated. Regards T
Mari says
Very good news Tara. I hope we all get the same decision.
GC says
Hi
Im just reading through the above comments and I’m not sure if I’m understanding this process 🙈!
If a claim has been upheld, and people have paid back more than they have borrowed and have been told by Amigo to stop paying and to cancel direct debits etc are then having money deducted to pay back live loans? Does an upheld claim not mean you have won? And Amigo have lost and no more monies should be taken by them??
This is all very confusing! I’m still waiting for my outcome and have been told to stop paying and to cancel direct debits in November
Thanks
Sara (Debt Camel) says
Does an upheld claim not mean you have won?
Yes
no more monies should be taken by them
yes, that’s why they told you to stop paying.
But they are saying that is the end result after the claim has been settled. There are two ways to think about how a live loan is settled – the first is to ignore the balance and start with what the loan was and what you have paid – thats what i talk about as its simple. The other way is to take the live balance and then credit back the interest added – that is what Amigo is going. It works out to exactly the same as my way. So when they are using part of the refund to cover the balance, that is because their caluclated refunded includes all the interest added at the start of the loan.
GC says
Ok Brilliant thanks Sara
I have finally received my outcome today and all loans have been upheld
My last loan which I was told to stop paying for and cancel direct debits says this
Total agreements set off refunds
Refund Value – £6165.84
8% Compensation – £281.93
8% Compensation tax – £56.38
You have an outstanding refund of £6391.39
Will I get the £6391.39 back in full
Thanks
Sara (Debt Camel) says
“Will I get the £6391.39 back in full”
yes.
You may also getting an amount repaid at a percentage – is there a figure called something like Scheme Cash Claim?
GC says
Hi Sara
Oh wow that’s a nice little sum to come back, will this really be paid in full or in part payments spread over the next year 🤣🙈
Yes there is, it’s scheme cash claim £2553.67 is that what will be paid at the 17p
Thanks
Sara (Debt Camel) says
The in full payment of £6391 will be paid in a single payment, hopefully in the next month or two.
The £2553.67 will be paid at a percentage, if that is 17% then it will be roughly £430. This will be paid in two parts, the larger one in the next 2 months hopefully and the rest towards the end of the year.
Don’t base any firm plans on the money until it is actually in your bank account.
Abdul says
Hello i wonder if you could help me make sense of this
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, your Scheme claim will be used to settle in full your live outstanding loan balance of £4,545.40, with no future payments due to be paid, and no further redress due to you, from your claim.
Total Agreement Set Off Refunds
Refund value £3,670.88
8% compensation £196.16
8% compensation tax £39.23
You have an outstanding refund of £3,827.81
Breakdown of agreement(s)
Agreement
Date of payout 11/10/2018
Amount borrowed £750.00
Your party type borrower
Outcome Defend
Agreement
Date of payout 19/04/2019
Amount borrowed £3,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £784.62
8% compensation £0.00
Claim value £784.62
Agreement
Date of payout 07/12/2019
Amount borrowed £5,750.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £7,886.20
8% compensation £0.00
Claim value £7,886.20
Agreement set off refunds
Refund of payments made £3,670.88
8% compensation £196.16
8% compensation tax £39.23
Claim value £3,827.81
Sara (Debt Camel) says
So the first small loan was rejected (“defend”). You can appeal that but it was pretty small.
The next two much larger loans have been upheld as unaffordable. The claim value for the first one is 784 (it only lasted a few months), for the second its 7886. They add up to 8670.
They are writing off 4545 of debt and paying you 3670 (plus some 8% interest takes it up to is 3827) in full. That adds up to 8215.
So where has the other 455 gone? Did your guarantor make any payments?
Jemma says
Hi, Got this email from amigo loans, but don’t understand it, would be grateful for some help.
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance of £487.90 and means you have a Scheme Cash Claim for the balance of £816.94. Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend
Agreement 39826161
Date of payout 08/02/2018
Amount borrowed £3,750.00
Other party Daniel
Your party type Borrower
Outcome Defend
Accept / Escalate
Agreement 42459520
Date of payout 30/06/2018
Amount borrowed £5,000.00
Other party Daniel
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £3,782.20
8% compensation £56.09
Claim value £3,838.29
Sara (Debt Camel) says
Has your guarantor made any payments?
Jemma says
Yes my guarantor has
Sara (Debt Camel) says
ok, when did you last make a payment to Amigo?
did your guiarantor make a claim?
is there any other set of figures, possibly referring to Agreement Set Off Refunds?
Jemma says
Last payment was made 25/7/21
Yes I think they did make a claim
No I haven’t got any other set of figures.
Sara (Debt Camel) says
ok so first Amigo has rejected the first loan as being affordable. You can appeal that and if it is upheld it will increase the amount you get. It will help with your appeal if you can supply bank statements for the 3 months before Feb 2018.
Amigo has upheld the second loan and calculated the claim value at 3838
Out of this it is clearing the balance of 487 and saying you have a cash claim for 816. They add up to 1303 – thats a lot less than the claim value.
One explanation is your guarantor is going to get a refund of the missing money. Can you ask him? Another explanation is that Amigo has got the figures wrong – I have seen several cases in the last two days where the numbers don’t seem to add up.
On the existing numbers, you will get a percentage of 816 – if that is 17% it will be roughly £140
Jemma says
Hi,
I asked him if he put a claim in and he said no he didn’t put a claim. So it’s not adding up.
Sara (Debt Camel) says
yes but did he make any payments?
Jemma says
Yes he made a couple but not that many
Sara (Debt Camel) says
He won’t be refunded for these as he didnt make a claim. And Amigo’s unfair rule is that you won’t be refunded for them either.
but unless he has paid about £2,000 that still doesn’t seem to add up. I suggest you phone Amigo up and ask.
Aisha says
Good morning,
I have recieved mine and it states this;
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, your Scheme claim will be used to settle in full your live outstanding loan balance of £5,375.08, with no future payments due to be paid, and no further redress due to you, from your claim.
Total Agreement Set Off Refunds
Refund value £979.01
8% compensation £42.17
8% compensation tax £8.43
You have an outstanding refund of £1,012.75
Breakdown of agreement(s)
Agreement 46831906
Date of payout 21/03/2019
Amount borrowed £5,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £6,354.09
8% compensation £0.00
Claim value £6,354.09
Agreement set off refunds
Refund of payments made £979.01
8% compensation £42.17
8% compensation tax £8.43
Claim value £1,012.75
Accept Escalate
So what would be the refund for me and does this seem it has worked out ok?
Thank you for your time.
Sara (Debt Camel) says
That is saying that you will be paid £1,012.75 in full. There won’t be any “at a percentage” amount.
It looks right if you think you have paid just under £6000 to this loan so far – does that sound correct? I have no reason to think it’s wrong.
Conor says
First of, Thanks Sarah. Good news for me as in both my loans upheld, goingbto accept unless you think otherwise
Agreement 37533325
Date of payout 14/08/2017
Amount borrowed £3,500.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £415.55
8% compensation £0.00
Claim value £415.55
Agreement 39018429
Date of payout27/11/2017
Amount borrowed £10,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £13,715.00
8% compensation £761.09
Claim value £14,476.09
Agreement set off refunds
Refund of payments made £4,347.75
8% compensation £241.86
8% compensation tax £48.37
Claim value £4,541.24
I’m not sure what I’m entitled too.. paid 10/11 months after claim date and then did an ESO – so outstanding balance of £2,700 waived.
Sara (Debt Camel) says
when was your last payment to Amigo?
was there a summary section – possibly in an Appendix to the email?
Conor says
In October 22
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
37533325 £3,500.00 48 14/08/2017
39018429 £10,000.00 60 27/11/2017
Interest Refund Fee Refund Reinstated Interest
£14,130.55 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £2,766.75 due to Amigo and means you have a Scheme Cash Claim for the balance of £7,777.14.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,371.50
Payments made before Scheme Effective Date (2) £1,976.25
8% Compensation on payments made after Scheme Effective Date (3) £241.86
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £48.37
Total Refund Value (1+2+3 minus 4) £4,541.24
I’m assuming full amount of £4,541.24 and then 17% of £7,777.
Payment to be received no time soon!!!!
Sara (Debt Camel) says
I’m assuming full amount of £4,541.24 and then 17% of £7,777.
That looks right
Craig says
I’ve worked the numbers out on mine and like many others, they’re not making sense, £1,500 is missing.
That a side, does anyone know how long it will take to receive the refund value in to my bank (not the scheme cash)?
Thanks.
Sara (Debt Camel) says
Phone them up and ask about the missing £1500
No one knows when the refund values will be paid. It may be at the same time as the first percentage payment but as 2 seperate payments. It may be as a single payment. It may be before or after the first percentage payment.
Maureen Walton says
Received my outcome today upheld for those asking I was one of the people who was told to stop paying in November.
Jackie says
Maybe the end is in sight. I have today received an email saying that refund payments will definitely begin at the end of February. But the sting in the tail is that these will be manually processed so will take time and we need to wait patiently for them.
LP says
Hi Sara
Finally had my outcome letter this morning all loans upheld and existing balance of £9500 wiped leaving a cash value claim remaining of £2799 of which I will get a % tbc. I understand all of the above however there is a section that says I have made a £449 payments before scheme effective does this mean I will receive this amount in full ?
Thanks
Sara (Debt Camel) says
probably but could you copy in the exact wording please?
LP says
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
37407599 £2,250.00 12 04/08/2017
37934034 £3,000.00 12 30/10/2017
43010425 £1,250.00 24 09/08/2018
43476175 £2,000.00 36 12/09/2018
45259706 £3,500.00 36 29/12/2018
46499213 £6,750.00 60 08/03/2019
50891529 £8,750.00 60 16/10/2019
Interest Refund Fee Refund Reinstated Interest
£12,332.58 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £9,514.87 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,799.39.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £0.00
Payments made before Scheme Effective Date (2) £449.84
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) £449.84
Sara (Debt Camel) says
“a cash value claim remaining of £2799 of which I will get a % tbc.”
correct, so about £475 if the percentage is 17%
“there is a section that says I have made a £449 payments before scheme effective does this mean I will receive this amount in full ?”
yes, in addition to the percentage
LP says
Thanks Sara just glad to have finally received the response.
Phil says
I placed a complaint with amigo that was almost finalised before the scheme came in. Will I be entitled to a refund due to this or just the 17p on the pound of any out come.
Sara (Debt Camel) says
when did you last make a payment to Amigo?
Phil says
Last payment was June 2019
Sara (Debt Camel) says
then all your refund will be paid at a percentage.
Jamie says
Sorry ti be yet another one asling the same question, it’s just so complicated. This is the claim email i recieved, the appendices section. What should i expect i full and what should i expect 17% of?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
42224491 £3,000.00 36 07/06/2018
43796686 £5,000.00 60 08/10/2018
Interest Refund Fee Refund Reinstated Interest
£7,272.91 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £2,173.82 due to Amigo and means you have a Scheme Cash Claim for the balance of £1,883.93.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,173.82
Payments made before Scheme Effective Date (2) £1,185.72
8% Compensation on payments made after Scheme Effective Date (3) £172.72
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £34.54
Total Refund Value (1+2+3 minus 4) £3,497.72
Sara (Debt Camel) says
This will be paid in full: Total Refund Value (1+2+3 minus 4) £3,497.72
This will be paid at a percentage, probably about 17%: Scheme Cash Claim for the balance of £1,883.93
Obviously I cant say if the numbers are right, but nothing jumps out as looking wrong to me.
Jamie Fraser says
Hi,
I’m wondering if you can offer any advice in regards to my credit file.
I had four loans
2 up held
2 I won.
The two up held I didn’t want to complain about as they were low and affordable.
I’m just wondering how it will affect my credit file? I never missed a payment on the first two loans, so does that mean the other two loans will get cleared on my credit file with a good record for the loan?
I don’t understand that part.
Just glad it’s all over
Sara (Debt Camel) says
It’s up to Amigo if they choose to delete all loans because it’s simply easier – normally they wouldn’t.
Unless the rest of your credit record is empty, deleting 2 old loans is unlikely to make much difference I am guessing/
Laura says
Over the moon had my outcome today
Can you help confirm if this is what I’m getting in full
Payments made after Scheme Effective Date (1) £3,023.62
Payments made before Scheme Effective Date (2) £1,067.16
8% Compensation on payments made after Scheme Effective Date (3) £176.86
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £35.37
Total Refund Value (1+2+3 minus 4) £4,232.27
Am I getting back £4232.27 in full
Sara (Debt Camel) says
Yes.
Are there any other figures that talk about a Scheme Cash Claim? (or something similar?)
Laura says
Yes above it this is what it says
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £1,778.60 due to Amigo and means you have a Scheme Cash Claim for the balance of £708.95.
So I’m guessing that refund is going to be at 17p
Sara (Debt Camel) says
Yes the 703 will be paid at a percentage.
Matt says
Hi Sara,
Finally got an email with my outcome. Looks like good news but looking for some clarification. As you’ll see below I have an outstanding balance of nearly £9,000 – I entered in to ESO in 2020 and haven’t made any payments since, which has seen that figure rise and rise. The figure quoted below of £23,559 will some of that be used to clear or part clear my balance? Or is that what is left over AFTER my balance is cleared. I realise it’ll be a pence in the pound deal so won’t be getting that type of figure back. Any help understanding it is much appreciated though
TBH – All I was looking for was for my outstanding balance to be paid so I can put all this behind me. Anything else is a bonus.
Claim Outcome: Upheld
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £8,793.80 due to Amigo and means you have a Scheme Cash Claim for the balance of £23,559.58.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
We ask that you review this letter carefully, and log into our Scheme Portal at [www.amigoscheme.co.uk]www.amigoscheme.co.uk in the next 30 days to confirm if you agree or not with our decision.
Sara (Debt Camel) says
The figure quoted below of £23,559 will some of that be used to clear or part clear my balance? Or is that what is left over AFTER my balance is cleared.
The balance is being cleared and you will be paid a percentage, probably about 17%, of Scheme Cash Claim £23,559.58. So roughly £4,000.
You can check that with Amigo by phone if you want. You haven’t pasted in any of the details so it’s hard for me to say more.
Jason Hess says
Hi All,
Is it just me, or are there a lot more claims coming through recently and mostly upheld? I am still waiting but feel like things might be moving?
Many thanks
Ali says
Hi Sara, i have today received an email that my claim has been upheld! Best news🙌🙌🙌
Loan Amount Loan Term Date Loan Approved
£4,500.00 24 04/09/2017
£10,000.00 36 24/11/2017
Interest Refund Fee Refund Reinstated Interest
£7,962.72 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £3,660.46 due to Amigo and means you have a Scheme Cash Claim for the balance of £4,307.50.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £0.00
Payments made before Scheme Effective Date (2) £150.00
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) £150.00
We may be required by law to report to HM Revenue and Customs (HMRC) any 8% compensatory interest that we pay you on your cash refund.
Although I am over the moon that my live balance will be cleared! Wondering whether I will be getting anything at all back – isit just the £150
Thanks ever so much..
Sara (Debt Camel) says
This will be paid in full: Total Refund Value (1+2+3 minus 4) £150
This will be paid at a percentage, probably about 17%: Scheme Cash Claim for the balance of £4,307.50 so roughly £730.
ali says
Much appreciated!
Farhat Fayyaz says
Please could you tell me what this means for me Claim Outcome: Upheld
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £6,474.87 due to Amigo and means you have a Scheme Cash Claim for the balance of £3,036.25.
Sara (Debt Camel) says
They are clearing the loan and you will get a percentage, probably about 17%, of Scheme Cash Claim for the balance of £3,036.25.
BUT when did you last make a payment to Amigo? Is there anywhere else that refers to “Set off Refunds” or something like that?
Farhat Fayyaz Fayyaz says
No nothing like that, I took a 3 month break in covid then my guarantor passed away. I didn’t make any further payments. Last payment was 2022
All the loans I had bar the 1st one every other loan paid off the previous loan, if you understand what I mean.
Farhat Fayyaz Fayyaz says
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
31379103 £1,000.00 12 07/10/2016
35581951 £3,750.00 24 07/03/2017
40340054 £4,500.00 48 09/02/2018
44214207 £6,250.00 48 06/11/2018
Interest Refund Fee Refund Reinstated Interest
£9,100.49 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £6,474.87 due to Amigo and means you have a Scheme Cash Claim for the balance of £3,036.25.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
We may be required by law to report to HM Revenue and Customs (HMRC) any 8% compensatory interest that we pay you on your cash refund. Should this be the case, we will then deduct basic rate income tax from the amount of this type of interest we pay you. The basic rate of income tax is currently at a rate of 20%. If tax is deducted from your cash refund, this will be set out in our letter confirming the total amount to be paid to you.
Sara (Debt Camel) says
ok so you did not make any payment to them after 26 May 2022? And you made your complaint suring the Scheme?
In that case the numbers look ok.
Farhat Fayyaz Fayyaz says
No I didnt make any further payments.
So what will they pay me.?
Thanks Sara x
Sara (Debt Camel) says
you will get a percentage, probably about 17%, of Scheme Cash Claim of £3,036.25, so roughly £520
Cj says
So i received this today can you confirm
my figures please
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
£4,000.00 60 12/12/2019
Interest Refund Fee Refund Reinstated Interest
£5,121.58 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £1,690.88 due to Amigo and means you have a Scheme Cash Claim for the balance of £432.23.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,687.70
Payments made before Scheme Effective Date (2) £158.10
8% Compensation on payments made after Scheme Effective Date (3) £159.08
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £31.81
Total Refund Value (1+2+3 minus 4)
Sara (Debt Camel) says
Your current loan is being cleared.
You have missed the last number off of Total Refund Value (1+2+3 minus 4) – I think it will be about 2£2,973. You will be paid this amount IN FULL.
You will also be paid a PERCENTAGE of Scheme Cash Claim for the balance of £432.23, which will be about £70 if the percentage is 17%
Char says
Hi Sara,
Please can you help me figure out what l am due back. I received this upheld claim outcome just now and l have £2,400 still o/s on the loan
Claim Outcome: Upheld
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £2,400.00 due to Amigo and means you have a Scheme Cash Claim for the balance of £5,740.83.
Sara (Debt Camel) says
They are clearing the loan and you will get a percentage, probably about 17%, of Scheme Cash Claim for the balance of £5,740.83.
BUT when did you last make a payment to Amigo? Is there anywhere else that refers to “Set off Refunds” or something like that?
Char says
Thanks for your quick response.
Please see below attached to the email l received this morning
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type
Refund Amount
Payments made after Scheme Effective Date (1) £86.38
Payments made before Scheme Effective Date (2) £250.00
8% Compensation on payments made after Scheme Effective Date (3) £9.06
8% Compensation withholding tax (on payments made after Scheme Effective
Date) (4) £1.81
Total Refund Value (1+2+3 minus 4) £343.63
I want to accept the claim outcome, however, when l look at my payment statement on the online portal l make it just under £1,000 l paid to them after May 2022.
Sara (Debt Camel) says
“Total Refund Value (1+2+3 minus 4) £343.63” that is the amount you will be paid in full.
But that doesnt sound right if you have paid them nearly £1000 after the scheme started – that should all be refunded in full.
Phone them up and ask why it isnt being refunded in full.
Char says
Thanks for the advice, l rang them up and it was my error. l miscalculated my payments after May 2022 so this is right. I’m surprised I’m getting a payment of £250 as-well, as was not sure my complaints before the scheme would be taken into consideration but they have and and I’m guessing that’s why l will be refunded this amount also. The guy l spoke with at Amigo today said they have sent over 11,000 outcomes to customers since Monday, so check your mailbox … you never know.
Thanks again Sara you’re amazing l’ve followed you from the beginning.
Sara (Debt Camel) says
Well done for checking. It’s not good to feel you should have got more.
Sara Mottershead says
Hi I have just had an email asking to phone as they have an update and they are looking to pay out in the next 6 weeks
Matt says
Hello,
I had my claim confirmed in dec 23 but I’m still unsure what I’m likely to get paid. Can you see the below and get back to me please
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,882.10
Payments made before Scheme Effective Date (2) £684.40
8% Compensation on payments made after Scheme Effective Date (3) £153.00
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £30.60
Total Refund Value (1+2+3 minus 4) £2,688.90
Sara (Debt Camel) says
From that bit you will get Total Refund Value (1+2+3 minus 4) £2,688.90 paid in full.
but is there also a line which says something like “Scheme Cash Claim”????
Matt says
That’s all else I can find in the email they sent
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
43431451 £3,000.00 48 21/09/2018
45876803 £4,000.00 48 15/02/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£4,703.94 £0.00 £0.00 £4,703.94
Cash Claim Value £2,137.44
8% Compensation £154.38
Total Cash Claim Value £2,291.82
Sara (Debt Camel) says
then in addition to that “in full” refund, you will also get a percentage, probably about 17%, of Total Cash Claim Value £2,291.82 so roughly £390
Matt says
Thank you. Just one final question, when are we likely to see the full refund paid and will it be in one go or in stages?
Sara (Debt Camel) says
that will be paid in one go, hopefully in the next couple of months. But do not make any firam plan for the money until it is in your bank account.
Dave says
Hey Sara,
Finally got my claim response through today – can you help me digest please and work out my redress due?
Struggling to bridge the £4,392.38 to the £7,889.40
Thanks in advance
Dave
Summary of outcome
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance of £1,350.49 and means you have a Scheme Cash Claim for the balance of £4,392.38. Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Total Agreement Set Off Refunds
Refund value £7,509.75
8% compensation £474.56
8% compensation tax £94.91
You have an outstanding refund of £7,889.40
Agreement claim values
Interest waived £13,089.24
8% compensation £163.38
Claim value £13,252.62
Agreement set off refunds
Refund of payments made £7,509.75
8% compensation £474.56
8% compensation tax £94.91
Claim value £7,889.40
Sara (Debt Camel) says
they are clearing the loan balance.
You have an outstanding refund of £7,889.40
this will be paid IN FULL
Scheme Cash Claim for the balance of £4,392.38
You will get a PERCENTAGE of this, probably about 17% so roughly £750
Dave says
Thanks Sara – so you are saying I should expect back a total of £7,889.4 and c.£750 so around £8,639?
Sounds a lot hopefully correct and paid soon
Sara (Debt Camel) says
Amigo will confirm those numbers if you call them. Don’t hold your breath for being paid soon.
Dave says
Thanks just called them today and they said I would get the full refund of £7,889.40 by the end of this month and then the % of the cash claim as a 2nd payment 6-9 months later.
Let’s hope this is correct thanks again Sara
Oliver hunt says
Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | 30279202 | £2,250.00 | 12 | 26/05/2016 | | 31014730 | £3,000.00 | 12 | 31/08/2016 | | 37147822 | £2,750.00 | 12 | 17/07/2017 | | 49217100 | £1,250.00 | 12 | 17/07/2019 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £1,865.78 | £0.00 | £0.00 | £25.69 | £1,891.47 |
| Cash Claim Value | £167.02 | | 8% Compensation | £25.69 | | Total Cash Claim Value | £192.71 |
Adamsk says
Hi Sara,
Just received this email below:
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £3,408.05 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,281.77.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £5,375.40
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £345.68
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £69.13
Total Refund Value (1+2+3 minus 4) £5,651.95
My calculations would be:
Scheme cash claim = 387.77
Total refund = 5651.95
Total received back from amigo = 6039.72
Does this sound about right to you?
Thanks again for your help on this!
Sara (Debt Camel) says
Your calculations look right.
you haven’t said what the Scheme claim value was, so i can’t guess if there is anytning wrong with the numbers.
Adamsk says
Scheme Cash Claim for the balance of £2,281.77.
Would this be the scheme claim value?
Thank you
Sara (Debt Camel) says
no that is the cash claim value.
“Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance*” – this other number must be in there somewhere!
Char says
It’s looks a lot of people are receiving their claim outcomes today, along with me and l had a balance o/s too. Glad to see, l thought this day would never come. !! Checking the website and online portal has been a daily part of my routine for the past year.+ !!
A says
Hi, please could you help me to understand the following.
Claim upheld
Borrowed £7000
Interest waived £5982.16
Borrowed £9000
Interest waived £12,343.20
8% compensation £1038.31
Claim value £13, 381.51
But then they have said part of my scheme will be used to settle live outstanding loan of £11094,48 so the cash claim is £8269.19 that will be paid in the pence per pound. This doesn’t make sense to me at all as the outstanding loan balance would include interest that they have not waived and I don’t understand where the 8% compensation is.
Sara (Debt Camel) says
did you claim in the Scheme of before? when was your last payment to Amigo?
A says
I claimed before the scheme and my last payment was in November 2021 as I done an equitable set off
Sara (Debt Camel) says
then it is correct that you wont get any “in full” refunds.
Your assessed claim is 19636 (5982 on one loan plus 13381 on the other). This includes a refund on interest that is in your current balance.
You are getting the refund in two bits – 11094 clears the balance and a cash claim of 8269 (which will be paid at about 17% so roughly £1,400). They add up to 19636.
this is the complicated way Amigo sets things out. But it looks OK to me.
A says
Ok so I am not entitled to the 8% compensation interest. Or interest paid on the first loan? I feel like I paid more than that in interest
Sara (Debt Camel) says
The second loan settled the first one? If that is correct, there is no 8% on the first loan because at that point you still owed Amigo money – the second loan. There is 8% interest on the second loan – put that too is paid at a percentage.
“Interest waived £5982.16” this is the interest from the first loan that is going into the overall calculation.
A says
Ok so you think it sounds fine? It’s just so annoying that I paid all this money and they are not giving full refund especially since I made the claim back in 2020
Sara (Debt Camel) says
yes, nearly 4 years later you get very little back. That was the reason the scheme was brought in :(
G says
Finally had outcome. Upheld!! Waiting for absolutely ages.
Can you please confirm what I’ll be getting in full.
Payments made after Scheme Effective Date (1) £1,987.94
Payments made before Scheme Effective Date (2) £533.36
8% Compensation on payments made after Scheme Effective Date (3) £177.32
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £35.46
Total Refund Value (1+2+3 minus 4) £2,663.16
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance of £4,333.26 and means you have a Scheme Cash Claim for the
balance of £6.35. Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Total Agreement Set Off Refunds
Refund value
8% compensation
8% compensation tax
£2,521.30
£177.32
£35.46
You have an outstanding refund of £2,663.16
Will I get £2663.36 in full? Thanks
Thanks
Sara (Debt Camel) says
Will I get £2663.36 in full?
Yes!
Dino says
Hi Sara
This is what I received today from Amigo
Please can you confirm I will receive the percentage of the Scheme Cash Claim for the balance of £10,459.24
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
29034241 £5,000.00 36 22/12/2015
31794711 £7,500.00 36 12/11/2016
50601780 £5,000.00 36 23/09/2019
Interest Refund Fee Refund Reinstated Interest
£10,866.15 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £2,927.40 due to Amigo and means you have a Scheme Cash Claim for the balance of £10,459.24.
Many Thanks
Sara (Debt Camel) says
a Scheme Cash Claim for the balance of £10,459.24. yes you will get a perentage of this.
When did you last make a payment to Amigo? When did you make a complaint – was it before the scheme?
Dino says
Hi Sara
I made my complaint in Oct 2021 and that was also my last payment to them as I entered the ESO.
Kind Regards
Sara (Debt Camel) says
can you confirm I will receive the percentage of the Scheme Cash Claim for the balance of £10,459.24
yes that looks right.
Elisha wright says
Hello iv finally had a reply could you help me work out what’s what please …
This is what iv been sent
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance of £1,517.08 and means you have a Scheme Cash Claim for the balance of £83.18. Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Total Agreement Set Off Refunds
Refund value £1,897.12
8% compensation £118.23
8% compensation tax £23.64
You have an outstanding refund of £1,991.71
Agreement 52862564
Date of payout 15/01/2020
Amount borrowed £3,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £3,615.59
8% compensation £0.36
Claim value £3,615.95
Agreement set off refunds
Refund of payments made £1,897.12
8% compensation £118.23
8% compensation tax £23.64
Claim value £1,991.71
Sara (Debt Camel) says
You have an outstanding refund of £1,991.71 you will be paid this amount IN FULL
Scheme Cash Claim for the balance of £83.18. you will be paid a percentage of this, probably about 17% so roughly £14
Elisha wright says
Thank you sooo much xx
Jason Hess says
Some interesting info for anyone still waiting . . . I have just come off of the phone to the scheme and they say that they are now issuing 700 decisions an hour and have been doing so since yesterday.
There are less than 50k to send out so if they keep this rate up, we should all hear within the next 7 working days. Looks like those of us that are waiting, will hear very soon : )
Abby says
Hi Sara,
I got this email today, does this mean it’s all clear for me? I was paying £495/m. I’m unclear about the interest refund being £800. Is this what I get back in full?
Thanks
Claim Outcome: Upheld
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
This means that your claim will be accepted in respect of the loan agreement(s) shown in the Appendix.
Payments eligible for refund in full
The date that the complaint was registered; or
December 1st 2021.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
PA4233936 £3,300.00 36 23/08/2010
WST6889394 £5,500.00 60 27/09/2011
22719473 £7,000.00 60 11/05/2015
37001441 £10,000.00 60 01/08/2017
47910187 £12,500.00 60 14/05/2019
Interest Refund Fee Refund Reinstated Interest
£37,525.27 £800.00 £0.00
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,964.36
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £311.65
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £62.33
Total Refund Value (1+2+3 minus 4) £3,213.68
Scheme cash claim is £37525
Sara (Debt Camel) says
You will be paid this amount IN FULL Total Refund Value (1+2+3 minus 4) £3,213.68
Scheme cash claim is £37525 – are you sure that is the right number? because it happens to be the same as the one here:
Interest Refund Fee Refund Reinstated Interest
£37,525.27 £800.00 £0.00
And those figures are not normally the same
Abby says
This is what it says:
Claim Outcome: Upheld
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £9,387.14 due to Amigo and means you have a Scheme Cash Claim for the balance of £37,905.39.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Sara (Debt Camel) says
so in addition to the £3,213.68 being paid in full
you will also get a percentage of the Scheme Cash Claim of £37,905.39. If the percentage is 17% that will be about £6,440
Abby says
Oh wow!! I really wasn’t expecting anything that close, seeing as the%’s are so small and all these numbers makes it all the more confusing. I accepted their offer, I just want it to be over and done with.
Thanks Sara, truly appreciate you taking the time to break all this down.
abby says
So is that 6440+3213+800. So my total refund is about 10457?
Sara (Debt Camel) says
no, the £800 is just part of the workings. That is not paid seperately
Abby says
Ok thank you for the clarification!! Much appreciated!
Susan says
Finally got my outcome. All 5 loans upheld. So glad this is over:
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £9,070.75 due to Amigo and means you have a Scheme Cash Claim for the balance of £29,274.37.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Thank you for all your help through this process Sara and I hope everyone else gets their outcomes soon.
Sara (Debt Camel) says
can I ask when you last made a payment to Amigo?
Susan says
I last made a payment in June 2021 when I went into eso.
Sara (Debt Camel) says
Ok I was just checking to see if any of that should have been repaid in full, But it’s correct that you will get a percentage of £29,274.37 – if that is 17%, it will be roughly £4980
Susan says
Yeah I thought it would be around that. Was not expecting that much but I’m just pleased I don’t owe them anything.
Ben says
Hi Sara
I had my reply from Amigo, and it was Upheld in full, total cash claim value: £12, 134.95 but it does advise me that I will only get a % of this, which I understand.
However, where would I stand if I first complained about this in 2018 where they did not uphold my compaint. Since there has been further investigations, surely the first complain should have now been upheld and I should be entitled to a full refund of the total claim value?
Any advice appreciated on what I should do and what you think!
Sara (Debt Camel) says
when was the last time you made a payment to Amigo?
Ben says
It was in 2019 I believe
Sara (Debt Camel) says
No money paid before Dec 2021 is being refunded in full.
M says
Hi Sara
At long last I get a response from Amigo. I was growing so tired of them, I almost automatically deleted email!
So my response is as follows:
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £2,766.75 due to Amigo and means you have a Scheme Cash Claim for the balance of £11,179.03.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
We ask that you review this letter carefully, and log into our Scheme Portal at http://www.amigoscheme.co.uk in the next 30 days to confirm if you agree or not with our decision.
Any idea roughly how much I could get back? Not sure whether to accept or not.
M
Sara (Debt Camel) says
Scheme Cash Claim for the balance of £11,179.03
If the percentage paid is 17%, you will get roughly £1,900
when was your last payment to Amigo?
M says
Hi Sara
My last payment to Amigo was on the 19th October 2022.
az says
if my claim has been upheld which it has and my loan was settled years ago, well before 2021 will I get a full refund not just a percentage because my claims have been upheld I paid my loan back in full maybe 10 years ago and my claims have been upheld. Will I get a full refund of the money not 17% but a full refund that’s what I’m asking
Sara (Debt Camel) says
you will get a percentage. Some payments made after December 2021 are being refunded in full – all ones before that date are refunded at a percentage.
Richy rich says
Hey guys appreciate you being here to help people 🙏 would anyone be able to tell me what this means…..
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,490.03
Payments made before Scheme Effective Date (2) £1,582.82
8% Compensation on payments made after Scheme Effective Date (3) £210.05
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £42.01
Total Refund Value (1+2+3 minus 4) £4,240.89
Will I be refunded £4240?
Just before this but though it also says this:
Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £8,753.44 due to Amigo and means you have a Scheme Cash Claim for the balance of £21.05.
So I’m not sure if I’m just getting £21.05 refund 😂
Good luck every one with a claim!
Sara (Debt Camel) says
Will I be refunded £4240?
yes, that will be paid in full
a Scheme Cash Claim for the balance of £21.05.
and you will also get 17% of that – so under £4. Don’t spend it all at once!
Anita says
Hi.
Could they make this any more complicated!!!
Part of my Scheme Claim is being used to settle an outstanding balance of £3952.40 (I did Equitable Set Off after reading your posts so thank you for that) and so have a Scheme Cash Claim of £7445.35. Based on the 17p in the pound, I am guessing that means £1265.71.
There is also, however, a heading ‘payments eligible for refund in full’ and in the table is says ‘payments made after scheme effective date’ £2964.30, 8% compensation £199.80, 8% withholding tax £39.96, total refund value £3124.14.
The outcome on the amigo website says I am due a total outstanding refund of £3124.14.
Either these are two different things or the numbers don’t add up. HELP!!!
Sara (Debt Camel) says
when did you go into equitable set off?
Anita says
It was after I read your posts so the beginning of Sept 2023 xx
Opening balance @ 15-08-2019
£5000
Payments made @ 06-09-2023
38 x £197.62
1 x £50.00
1 x £345.24
Total £7904.80
Remaining balance
£3952.40
Sara (Debt Camel) says
ok so you made quite a few payments after 28 May 2022 when the scheme started. Those payments are being refunded in full – that is the £3124 number
But as you say the numbers don’t seem to add up.
It sounds as though you are also getiing 17% of the Scheme Cash Claim 7445 number.
You can call Amigo up to confirm that is what you will be getting. Or cross your fingers and hope that it is…
Anita says
Thank you xx
JT says
Hey,
Sorry if this is just the same as Richy – but I’ve just received my outcome and not sure if this is coincidence or the numbers are related.
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £3,468.27 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,330.19.
Payments made after Scheme Effective Date (1) £3,468.27
Payments made before Scheme Effective Date (2) £1,333.95
8% Compensation on payments made after Scheme Effective Date (3) £272.90
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £54.58
Total Refund Value (1+2+3 minus 4) £5,020.54
Is it a coincidence that the £3468.27 and that I will receive a full refund of £5,020.54 PLUS c.17% of the £2330 (£396) a total refund of £5,417?
Sara (Debt Camel) says
Is it a coincidence that the £3468.27
the amount you paid after the scheme effective date will normally be a multiple of the number of months payments you made eg 9 months at £x a month. If you happen to have that same number of payments left to make, then the balance will be the same number. So it may be correct – it isn’t odd enough for me to think something must be wrong…
Of course I can’t say the numbers are correct, but you should be able to add up the amount amount of payments you made after the start date of the scheme (28 May 2022) pretty easily and check that number?
I will receive a full refund of £5,020.54 PLUS c.17% of the £2330 (£396) a total refund of £5,417
That looks right
Michael says
Nice outcome letter today
£2578 paid at 17p for every £1
£2500 pay off the last 6 months of my loan
£9800 lump sum paid in full
Wasn’t expecting it so a nice suprise
Aliya says
Hi Sara,
Thanks for all your help, got my outcome today but I’m a little confused.
Claim Outcome: Upheld
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £4,518.18 due to Amigo and means you have a Scheme Cash Claim for the balance of £120.05.
Loan amount: £4k
Interest refund £4,628.78
I went into equitable set off in 2021, so I wasn’t expecting a set off refund.
These figures look right as when I stopped paying I had paid a little over £4k, and so I wasn’t expecting a big refund. Would you agree?
Thank you in advance
Aliya
Sara (Debt Camel) says
Can you post some more of the figures? eg the ones in the appendix to the email.
Aliya says
Hi Sarah,
Appendices
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £4,518.18 due to Amigo and means you have a Scheme Cash Claim for the balance of £120.05.
AA
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
45087951 £4,000.00 60 31/12/2018
Interest Refund Fee Refund Reinstated Interest
£4,628.78 £0.00 £0.00
Sara (Debt Camel) says
i think you will only be getting a small refund of a percentage of £120.05. – so about £20. Whoich is what you expected.
The phrase “Interest refund” here I think is misleading. This is not the “set off refunds” that other people are getting for r3ecent payments – you haven’t made any recent payments.
if you phone Amigo up they will confirm if this is correct.
Kai says
Hi Sara,
Like many others, I received the following earlier this morning. Maybe it’s the mental fatigue of the matter or I’m just not good at these things (possibly both), but how much should I be expecting to be repaid back.
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £160.41 due to Amigo and means you have a Scheme Cash Claim for the balance of £1,901.49.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
Interest Refund Fee Refund Reinstated Interest
£4,951.65 £0.00 £0.00
Refund Type Refund Amount
–Payments made after Scheme Effective Date (1) £3,047.79
–Payments made before Scheme Effective Date (2) £0.00
–8% Compensation on payments made after Scheme Effective Date (3) £185.00
–8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £37.00
–Total Refund Value (1+2+3 minus 4) £3,195.79
Sara (Debt Camel) says
You will be paid this IN FULL Total Refund Value (1+2+3 minus 4) £3,195.79
And you will also get a PERCENTAGE of Scheme Cash Claim for the balance of £1,901.49. That will be about £320 if 17% is paid.
Nicola C says
Hi
I’m still waiting for a reply from amigo. I borrowed a loan of £5000 topped up twice and was all payed off eventually around 5 years ago.
I made a complaint right at the start, but am confused as to what I’m likely to expect back. Because I payed in full do I only get a percentage of the interest I payed?
Thanks
Sara (Debt Camel) says
You will only get a percentage back. Only some payments made after December 2021 are being refunded in full.
Nik says
Hi
Just wondered if you could help.
I’ve just received my reply today. I was in Equitable set off. It states The total refund claim +1+2+3~4 ( which I’m presuming is the balance of £705 I still had to pay off with them = £2752.80. It states that the appendices below will be paid in full fir the total refund claim.
So does that mean the amount of £2752.80 will be paid in full and not a percentage in the pound.
Many thanks
Sara (Debt Camel) says
yes.
You may also get a “percentage” pay out – is there a reference somewhere to a “Scheme Cash Claim” or something like that?
Callum says
Hi Sara.
Will the Total Refund Value (1+2+3 minus 4) be paid in the first payments or split between the 2?
Sara (Debt Camel) says
It will be paid in one payment. Whether that is at the same time as the first percentage payments Amigo haven’t said.