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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Laura says
Hi Sara, you must be fed up of this thread today seems like everyone and there nan has received there outcomes lol myself included…
Any how my question is my claim was fully upheld today but when I log into my account it still says I’m in arrears and my guarantor is still there nothing has changed when do we think this will update to show no balance owed and my brother is removed?
Sara (Debt Camel) says
Soon I hope… sorry I have no idea
DM says
My complaint was upheld and I have now accepted. My credit file has had all 4 loans removed, but I have a CCJ still there showing. Amigo has stated it can take 3 months further to remove this and that they issue paperwork to the courts upon decision outcome. I have spoken to Amigo, registry trust and the court, but all none the wiser on what to do or when anything will happen. The CCJ comes up for 6 years in October anyway, but would be good to get it off earlier if possible, any suggestions ?
Sara (Debt Camel) says
Registry trust won’t know until this has gone through the court. Amigo is unlikely to be doing this one at a time, will probably be in some form of batches. I doubt anything you can Do will speed this up.
natasha couzens says
Hi Sara, I had my outcome today. And the values they show are the same as what I calculated for myself. So I will be accepting – but it is interesting that the interest refund is being used to pay off the outstanding interest of current loan. Is that correct?
Anyway thanks for all your help so far and here is the summary of my outcome.
Loan Amount Loan Term Date Loan Approve
£2,000.00 36 09/07/2014
£3,000.00 36 02/08/2017
£10,000.00 60 08/12/2017
Interest Refund Fee Refund Reinstated Interest
£13,398.69 £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 £5,936.43 due to Amigo and means you have a Scheme Cash Claim for the balance of £7,589.54.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,000.00
Payments made before Scheme Effective Date (2) £390.00
8% Compensation on payments made after Scheme Effective Date (3) £63.90
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £12.78
Total Refund Value (1+2+3 minus 4) £1,441.12
Sara (Debt Camel) says
it is interesting that the interest refund is being used to pay off the outstanding interest of current loan. Is that correct?
Yes because the “interest refund” includes the interest remaining on the loan. So it is removed from the balance.
Vicky says
Hi Sara,
I’ve had my decision today, my claim has been upheld and they have given me a figure with the redress amount. Ive then got a further 4 figures for previous loans with claim amounts on. My question is, are these all amounts that are to be paid back to me? Along with the redress figure? I just want some advice before I accept them as I don’t understand it all!
I know you’ve probably had hundreds of these questions!
Sara (Debt Camel) says
can you post the numbers in here please?
Vicky says
The 4 claim amounts are 301.71, 1035.82, 3945.77 and 4182.82.
The redress figure is 6383.30 minus 2371.40 for current loan which leaves me with 733.39.
All of the numbers are confusing me and the wording they’re using, it says on the email that I am entitled to a full refund as well as the scheme cash claim
Vicky says
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
16470119 £1,500.00 24 28/05/2014
21641290 £3,000.00 60 08/12/2014
27775488 £7,000.00 60 12/10/2015
44042441 £3,000.00 60 22/10/2018
Interest Refund Fee Refund Reinstated Interest
£7,716.54 £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 £2,371.40 due to Amigo and means you have a Scheme Cash Claim for the balance of £6,383.30.
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) £237.14
Payments made before Scheme Effective Date (2) £474.28
8% Compensation on payments made after Scheme Effective Date (3) £27.46
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £5.49
Total Refund Value (1+2+3 minus 4) £733.39
Sara (Debt Camel) says
you will get this paid IN FULL Total Refund Value (1+2+3 minus 4) £733.39
and you will also get
a PERCENTAGE of Scheme Cash Claim for the balance of £6,383.30. Probably about 17% which would be roughly £1090
Sameena's says
My loan since 2016 has been passed on to lanntern they without any notice sent it to my credit file and put it on the gaurentaurs too we r legally bound with amigo not lanntern what can i do im really frustrataed paid nesrly double than took out initially wgat can i do can lanntern persue me hiw can we get it taken off gaurentaurs credit history
Sara (Debt Camel) says
did you or the guarantor complain to the Scheme?
Sameena says
Hi sara what can i do do i need to pay lantern now and what about the guarantor is he still responsible
Can i do a claim now my account has been passed to lantern
Sara (Debt Camel) says
Sorry did you or your guarantor make a claim to the Amigo scheme? If you did, have you had the decision on that claim?
I can’t talk about what will happen with Lantern until you answer this.
Matt says
Hi can you shed in light on this for me please, I really don’t understand what on earth im Expecting back. Hoping its the full amount. Please can you advise
Claim Outcome: Partially Upheld Total Cash Claim Value = £19171.83
Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved | Outcome Reached For This Agreement |
| QD2129363 | £3,300.00 | 36 | 03/03/2009 | Defended |
| WST3587364 | £5,000.00 | 36 | 18/02/2010 | Upheld |
| WST5927715 | £5,000.00 | 60 | 18/05/2011 | Upheld |
| 40576171 | £5,000.00 | 60 | 26/02/2018 | Upheld |
| Interest Refund | Fee Refund | Reinstated Interest | Total Borrower Refund |
| £13,649.24 | £0.00 | £0.00 | £19,171.85 |
| Cash Claim Value | £13,649.24 |
| 8% Compensation | £5,522.59 |
| Total Cash Claim Value | £19,171.83 |
Total Borrower Refund = The interest and fees owed to you, once the Loan Amount has been paid.
Cash Claim Value = The Total Borrower Refund less any loan payments paid directly by your guarantor.
Sara (Debt Camel) says
when was the last payment you made to Amigo?
and had you complained before your last payments?
MATT says
All payments were made in full before the scheme was introduced. I’m sure it was late 2021 early 2022
No I Do not recall complaining whilst I was paying.
Sara (Debt Camel) says
You will get a PERCENTAGE, currently expected to be 17%, of the Total Cash Claim Value of £19,171. So roughly £3,260.
None of your payments are recent enough to be refunded in full
The first loan was rejected. You can appeal that if you want.
Matt says
I was told if I appeal the one loan they may even decline tge others. So didn’t bother
Sara (Debt Camel) says
Who told you that? It doesn’t sound right if you have accepted the others. If it was right, there would be a single accept/escalate button for the who decision, not one for each loan.
Marie says
Hi Sara
Finally received my outcome and pleased that all loans/top ups have been upheld.
Would you be able to look at the numbers as unsure why my outstanding loan balance is higher than my last loan/topup.
To be honest I am just glad that this is soon to be over with all the negative markers removed from my credit score and my guarantor released.
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 £9,963.46 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,400.05.
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
Can you post in some more of the numbers please? eg from the appendix on the email you have had.
Marie says
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
38033996 £2,000.00 36 21/09/2017
38907248 £2,750.00 48 11/11/2017
39698611 £5,000.00 48 29/12/2017
42158652 £6,500.00 60 31/05/2018
43286077 £7,250.00 60 30/08/2018
49078872 £8,250.00 60 11/07/2019
Interest Refund Fee Refund Reinstated Interest
£15,229.31 £0.00 £0.00
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1,980.00
Payments made before Scheme Effective Date (2) £1,046.08
8% Compensation on payments made after Scheme Effective Date (3) £167.75
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £33.55
Total Refund Value (1+2+3 minus 4) £3,160.28
Thank you for all your help and knowledge.
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £3,160 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £2,400. So roughly £410
Marie says
Thank you for your reply.
In your opinion does that look all ok?
I think I was getting confused over the payments made by me as I repaid the capital and entered eso so was confused by the ‘live balance’
Sara (Debt Camel) says
I can’t say the numbers are right, but nothing looks wrong to me.
Entering ESO didnt change the balance of the laon that was owed, and interest carried on being added. It has been wiped now in the scheme. This is because the compensation Amigo calculates includes a refund for the interest that you havent yet paid which is currently sitting in the balance.
Shauna says
Hi Sara I did make a claim and it has been upheld.
My friend never claimed and is now having to pay Lantern. Is there anything that can be done about this in terms of the original amigo loan being unaffordable for many. Can she take this to the financial ombudsman?
Sara (Debt Camel) says
Your friend – this was for a different loan – she and you weren’t guarantor/borrower on the same loan?
Michael says
Hi Sara
Got my outcome today, this was upheld. But I do not understand it. They are awarding me for the scheme cash claim £4003.85. Which I understand I will only get a certain amount. They also state I have got an outstanding refund totalling £5,683.00. Just want to know is this something additional I will be getting?
Thanks for your help.
Sara (Debt Camel) says
Yes it is an additional amount.
Some recents payments are being refunded in full – that is the £5683. Other older payments will only be refunded at a percentage, that is the scheme cash claim on £4003
Michael says
Thank you Sara, for clarifying
Daryl says
Sara,
I’ve noticed that a lot of people are having their loans wiped with part of their scheme claim. I thought if you had a balance and it was upheld, it was wiped. Or is that only if you have paid back the initial amount you borrowed?
Sara (Debt Camel) says
This is because the compensation Amigo calculates includes a refund for the interest that you havent yet paid which is currently sitting in the balance.
It works out exactly the same as removing the interest from the balance first and calculating the compensation without that future interest. Amigos way is more complicated, but hey, they haven’t chosen to do anything the simple route. It makes no difference to the end result.
Mari says
Hi Sara
Please can you explain this I just received from Amigo.
the Scheme Effective Date
If a customer registered their complaint before the Scheme Effective Date (26th May 2022), they could be entitled to a full refund of certain payments they have made. Depending upon when they registered the complaint, the refund will consist of payments that they have made towards the loan (over the original loan amount) from the earlier of either:
The date that the complaint was registered; or
December 1st 2021.
The Appendices explain the amount that you are eligible to be paid in full, as a Total Refund Value. We currently expect these payments to be made to customers in early 2024
Thanks
Sara (Debt Camel) says
I have given a rather more understandable ( I hope!) explanation in the article above.
Have you received your decision?
When did you last make a payment to Amigo? When did you claim, was it in the scheme or before?
Mari says
I made a last payment in Jan 2024 but they told me i overpaid and refunded it back. Leaving me with 750.95 which will be paid from my refund.
Kristina says
Hi Sara
I have escalated my claim as it was rejected. They said it was affordable at the time, even though I sent them proof of bank statements and my wage slips with attachment to earnings as I was behind in my council tax. I have been reading all replies from other people on here and the majority of the claims have been upheld. The majority of the upheld loans still have a balance so most of their claim will pay off existing loans. I just find it odd that claims being upheld still owe money, while the rejected claims have paid off their balance.
Maybe I’m being paranoid.
Sara (Debt Camel) says
The decisions go out in batches. This weeks have almost all been upholds with current loans. They don’t imply anything for other situations
Sophie26 says
Hi Sara – apologies for same question just curious as to how to work this out , here is what was sent in email below , so I assume I get the 17% of £4474 figure ?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
31486405 £3,000.00 36 11/10/2016
35730776 £9,000.00 60 20/03/2017
38504427 £10,000.00 60 29/11/2017
Interest Refund Fee Refund Reinstated Interest
£12,509.86 £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 £8,630.75 due to Amigo and means you have a Scheme Cash Claim for the balance of £4,474.23.
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
Here below is one example of it in seperate tables that I had to agree to on my online portal
Agreement –
Date of payout – 29/11/2017
Amount borrowed – £10,000.00
Other party –
Your party type- Borrower
Outcome- Upheld
Interest waived – £9,365.32
Fee refund
£0.00
Reinstated interest
£0.00
8% compensation
£595.12
Claim value
£9,960.45
Appreciate your help
Sara (Debt Camel) says
When did you last make a payment to Amigo? When did you make a claim?
Dominic says
Good morning,
I received my outcome yesterday and my claim was upheld, but I’m not sure on the numbers and what it means I’ll be getting back. Will I receive the interest refund or will that be included in the total refund value? Thanks for your time!
Sara (Debt Camel) says
Sorry can you paste in the words…. Amigo has several different formats for different situations and some of the terms sound similar but mean different things…
Foxx says
Hi,
just a quick question. I received my outcome yesterday, finally, but I am a little confused on why it states the following –
“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 £4,662.90 and means you have a Scheme Cash Claim for the balance of £5,421.25. 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.”
I was granted ESO, does this not mean that the principle loan has been paid back? Or is this because I had 2 subsequent loans?
The actual details of the loans are below:
Agreement 37766319, Date of payout 28/08/2017, Amount borrowed £1,500.00, Outcome Upheld, Interest waived £129.58, Fee refund £0.00, Reinstated interest £0.00, 8% compensation £0.00, Claim value £129.58
Agreement 38941743, Date of payout 14/11/2017, Amount borrowed £2,000.00, Outcome Upheld, Interest waived £300.50, Fee refund £0.00, Reinstated interest £0.00, 8% compensation £0.00, Claim value £300.50
Agreement 41089707, Date of payout 28/03/2018, Amount borrowed £6,750.00, Outcome Upheld, Interest waived £9,118.08, Fee refund £0.00
Reinstated interest £0.00, 8% compensation £535.99, Claim value £9,654.08. Can you make it make sense? At this moment in time I have not accepted or escalated. Many thanks, Foxx
Sara (Debt Camel) says
Your 3 loans have all been upheld.
Your balance has now been wiped.
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £5421.
When did you enter ESO?
I was granted ESO, does this not mean that the principle loan has been paid back?
yes. And this is why your loan has been wiped and you are getting a refund.
Mari says
Hi Sara
I dont understand ajy of this. Please help.
Appendices
Amigo Loan Agreement No. 44975492
Loan Amount £10,000.00
Loan Term 60
Date Loan Approved. 20/12/2018
Interest Refund £13,715.00
Fee Refund £0.00
Reinstated Interest. £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 £790.50 due to Amigo and means you have a Scheme Cash Claim for the balance of £5,242.28.
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) £7,635.00
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £482.85
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £96.57
Total Refund Value (1+2+3 minus 4) £8,021.28
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £8,021 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £5,242
Mari says
So i will be refunded in my account £8021 + 17% of £5242 roughly £890 so in total i will receive about £8900?
Its just confusing for me
Sara (Debt Camel) says
yes.
But the percentage payment will be made in 2 installments, the larger one soon (we hope!) and the smaller towards the end of the year.
Do not make any firm plans for the money until it is in your bank account. Make sure Amigo have your correct bank details.
Mari says
Thanks Sara. I called Amigo and they confirmed it also. Part payment end of Feb and the rest not long after when everyones case os sorted
Thank you so much. Now its time to rest.
Ffion says
I have just received this as a response to why my payments weren’t being refunded from the earlier date rather than the ‘scheme effective’. Yes my complaint had been closed BUT that outcome was presumably incorrect if now upheld.
Should I send this to the adjudicator or is this correct?
Many thanks for any input.
Dear Ffion,
My name is Andrew and I work in the Customer Relations Team at Amigo.
I can see that you have escalated your claim outcome to our scheme adjudicator however, I’m unsure if you meant to do so.
It looks like within your reason for escalating your claim you’ve explained how you previously raised an affordability claim in October 2020 and therefore should receive a full refund of payments from this point.
I can see that you received a Final Response in respect of your previous claim in December 2020. Given this, that complaint was closed and your current claim was raised as part of our Scheme of Arrangement. Our records show that this claim was raised on 27/09/2022. Despite this I can see within your Claim Outcome we have explained that you are due a full refund of payments made since the Scheme Effective date.
I hope I have been able to clarify our outcome and what this means. If satisfied, can you can confirm if you wish to still escalate your claim to our adjudicator or not.
If I don’t hear back from you by 12/02/2024 I will assume that you still wish to escalate your claim outcome.
Sara (Debt Camel) says
did you send the complaint to the Ombudsman?
Ffion says
No. The initial complaint was sent to Amigo only.
Sara (Debt Camel) says
I think you should go back and ask for this to be looked at again. Point out that you had 6 months from Amigo’s December 2020 rejection to take it to the Ombudsman, but FOS then stopped taking cases so you were unable to do this. So your complaint should be treated as still being live.
Ffion Bishop says
Hi Sara,
I did exactly as you suggested and this is the response.
Dear Ffion,
Thank you for replying to my email.
Regardless of whether your previous claim remained active, either with the Financial Ombudsman Service or with Amigo, this would have still be absorbed into the Scheme of Arrangement. Given this it still would have been subject to the Terms of the Scheme.
Kind regards,
Andrew Wright
Customer Relations Team
Amigo Loans
Col says
Hi Sara, my outcome is below. I’m I right in thinking I’ll get the Set Off Refund back in full (£9,648.95) plus ~17% of the Total Cash Claim Value (£9,506.16 * 0.17 = £1,606)?
“Summary Agreement Claim Values
This is not the amount you will receive.
Interest waived: £21,394.58
Fee refund: £230.00
Reinstated interest: £0.00
8% compensation: £1,660.89
Claim value: £21,624.58
Cash claim value: £7,845.27
Total cash claim value: £9,506.16
Total Agreement Set Off Refunds
Refund value: £9,090.75
8% compensation: £697.75
8% compensation tax: £139.55
You have an outstanding refund of £9,648.95”
Huge thanks again for all the support you’ve offered everyone through this. It really is appreciated.
Sara (Debt Camel) says
I’m I right in thinking I’ll get the Set Off Refund back in full (£9,648.95) plus ~17% of the Total Cash Claim Value (£9,506.16 * 0.17 = £1,606)?
yes on those numbers.
BUT was there a balance being cleared? Or did your guarantor make some payments? As the numbers don’t quite look right.
Col says
No. All loans were paid off by me and no guarantor payments.
This was split over about 5 loans though, some being top ups so maybe that’s why?
Sara (Debt Camel) says
No 5 loans doesn’t make a difference.
Something doesn’t look right. The interest waived plus fee refund is 21,724
But the two sorts of redress, the refund and the cash claim, add up less than 20,000
I suggest you phone Amigo up and ask why.
Col says
Will do thanks.
Jon says
Hi Sara,
I have received an email yesterday regarding this, please may you confirm what this means for me?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
XXXXXXXXXXXXXXXXXXX £5,000.00 48 09/09/2019
Interest Refund Fee Refund Reinstated Interest
£5,055.66 £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 £1,928.22 due to Amigo and means you have a Scheme Cash Claim for the balance of £2.77.
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) £2,352.68
Payments made before Scheme Effective Date (2) £347.00
8% Compensation on payments made after Scheme Effective Date (3) £190.08
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £38.01
Total Refund Value (1+2+3 minus 4) £2,851.75
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £2,851 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £3 (as this amount is so small, it is possible Amigo may not pay it to you)
Did your guarantor make 1 or 2 payments? the numbers look slightly odd.
Jon says
Hi Sara,
Thank you for the quick response and explanation.
The guarantor didn’t make any payments, no – In which way do the numbers seem odd and is this something i should investigate further?
The balance being wiped with the one off figure described is a bonus, thank you for the detail regarding the 17%..!
Kind Regards,
Jon
Sara (Debt Camel) says
so the calculated interest refund is £5055
That has been used to clear your balance (1928), pay an infull refund (2699 ignoring the 8%) and a stine Scheme Cash claim (3). But those onoy add up to £4630, So where has the other £400 if the interest refund disappeared to?
A couple of guarantor payments of £200 would account for it. But if your guarantor didnt make any payments, then I think you need to ask Amigo to look again at the numbers as they don’t add up.
Ash says
Hi Sara, I have finally had a response. However I am none the wiser on what I will actually receive.
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 £560.36 due to Amigo and means you have a Scheme Cash Claim for the balance of £995.28.
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.
Therefore, your claim has been upheld.
This means that your claim will be accepted in respect of the loan agreement(s) shown in the Appendix.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
49356965 £5,750.00 36 30/07/2019
Interest Refund Fee Refund Reinstated Interest
£4,337.64 £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 £560.36 due to Amigo and means you have a Scheme Cash Claim for the balance of £995.28.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £2,794.32
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £232.75
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £46.55
Total Refund Value (1+2+3 minus 4) £2,980.52
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £2,980 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £995, so roughly £170
Nav says
Hi, I received an email today, but I’m so confused on how much I will receive is possible I can get a rough idea please?
Appendices:
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
43271612 £2,250.00 24 29/08/2018
44778009 £4,000.00 36 04/12/2018
48251821 £10,000.00 48 04/06/2019
Interest Refund Fee Refund Reinstated Interest
£9,640.86 £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 £1,060.98 due to Amigo and means you have a Scheme Cash Claim for the balance of £7,297.91.
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) £1,799.74
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £150.07
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £30.01
Total Refund Value (1+2+3 minus 4) £1,919.80
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £1,919 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £7.292, so roughly £1,240.
Gayna Moore says
Hey I’m sorry to be a pest but can you clarify what this figures mean for me
| Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | 38005832 | £3,000.00 | 60 | 12/09/2017 | | 38733204 | £10,000.00 | 60 | 02/11/2017 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £2,311.43 | £0.00 | £0.00 | £747.25 | £3,058.69 |
| Cash Claim Value | £2,311.43 | | 8% Compensation | £747.25 | | Total Cash Claim Value | £3,058.68 |
Thanks in advance, it is really appreciated
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
did you only have one loan? When was your last payment to Amigo? And when did you make a claim?
Gayna Moore says
I had the loan for 3000 and the loan for 10000. I paid the loan off early around March 2019. I submitted my claim on the 9th of June 2022 and I got the outcome email on the 18th of August 2023.
Gayna Moore says
Am I just looking at 17% of £3058.68? Xxx
Sara (Debt Camel) says
yes you are. So roughly £520
Mark says
Finally received my outcome. I’m not entirely sure what the figures mean for my redress but in all honesty I’m not bothered. The fact all my claims have been upheld and its finally over I’m happy:
Claim Outcome: Upheld
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
38010733 £750.00 12 12/09/2017
39375008 £1,250.00 12 08/12/2017
40808377 £2,500.00 36 12/03/2018
42876179 £3,750.00 60 31/07/2018
Interest Refund Fee Refund Reinstated Interest
£5,726.12 £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 £2,519.74 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,726.80.
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) £444.66
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £47.55
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £9.51
Total Refund Value (1+2+3 minus 4) £482.70
From that I gather I’m due a refund of £482.70 plus 17% of £2726.80 (£463.56) making a total of £946.26 refund – or am I completely wrong???
Sara (Debt Camel) says
I’m due a refund of £482.70 plus 17% of £2726.80 (£463.56) making a total of £946.26 refund
That looks right. Nice to see the back of that loan.
Mark says
Thanks Sara. This whole process has been awful and so glad I found this page to see everyone else was in the same boat. Thanks again for creating this page and all your help – it’s been a Godsend x
Dm says
Hi Sara, just wanted to say thanks again. It’s been a long few years working through about 16 payday loan companies and various larger loans taken to pay them off then getting back in the cycle. By far the biggest worry over the last 13 years was keeping up Amigo payments so that my guarantor did not have to step in due to my idiocy. Thought I would be last to get a response and fully expected for Amigo to defend some of the 5 loans going back to 2011 but glad to say all 5 have been upheld with cash claim value of £25k minus the £8.5k outstanding (took covid and ESO just for info as would have been worse off if I had not kept up to date on this site) Good luck to everyone still waiting for a response .
Lewis says
Hi Sara
Not sure if these numbers are correct, I’ve also appealed the first loan on the 4th of Jan but heard nothing back since. Does this mean they are leaving it to the adjudicator??
Agreement No. Loan Amount Loan Term Date Loan Approved Outcome Reached For This Agreement
£5,000.00 36 20/11/2012 Defended
£5,000.00 60 19/12/2013 Upheld
£7,000.00 48 27/08/2015 Upheld
£7,500.00 60 12/12/2016 Upheld
£10,000.00 48 01/06/2017 Upheld
£10,000.00 36 04/12/2017 Upheld
£10,000.00 36 09/04/2018 Upheld
£10,000.00 36 08/08/2018 Upheld
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£16,676.95 £0.00 £0.00 £16,676.95
Cash Claim Value £16,676.95
8% Compensation £5,556.30
Total Cash Claim Value £22,233.25
Sara (Debt Camel) says
I can’t guess. Someone who appealed on 20 December was told today that Amigo had reviewed the decision and upheld all her loans without it going to the adjudicator.
Lewis says
For the amounts borrowed, I would’ve thought the interest due back would’ve been higher. Do you know how to work that out at all? Especially as some of the loans are quite a few years old the 8% I thought would have been more
Sara (Debt Camel) says
Some of the loans were only short as they were soon topped up. That restricts the interest paid.
The 8% interest only starts to accrue from the point where Amigo owe you money – basically the refunds on the previous loans would have cleared the next top up. I could work all this out but you would need to know exactly what you have paid to each loan separately and what the cash your received for each top up loan was. The numbers don’t look wrong to me but I can’t say they are right.
Darrell cox says
Hi Sara
Finally received mine outcome yesterday, any help understanding it would be greatly appreciated
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
WSF9120346 £3,000.00 24 06/09/2012
11866562 £4,000.00 36 21/05/2013
38841690 £1,500.00 24 11/11/2017
43295178 £2,500.00 24 17/09/2018
51607204 £3,250.00 24 29/11/2019
Interest Refund Fee Refund Reinstated Interest
£7,570.07 £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 £1,418.16 due to Amigo and means you have a Scheme Cash Claim for the balance of £5,667.17.
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) £1,120.00
Payments made before Scheme Effective Date (2) £431.56
8% Compensation on payments made after Scheme Effective Date (3) £84.88
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £16.97
Total Refund Value (1+2+3 minus 4) £1,619.47
Sara (Debt Camel) says
Your balance has now been wiped.
You will get £1,619 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £5,667, so roughly £930
Darrell says
Thank you much appreciated & thank you for all your hard work
Cheryl says
Hello I could you tell me how much I will be getting back please in full refund
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£1,005.90 £0.00 £0.00 £1,005.90
Cash Claim Value £1,005.90
8% Compensation £509.28
Non-affordability redress £30.00
Total Cash Claim Value £1,545.18
Sara (Debt Camel) says
Unless there are any other figures, that looks like you will get about 17% of £1,545, so roughly £260
Cheryl says
My loan was paid off in 2015 for £3000. I have no other figures. sorry did you say roughly £260.00 I will get refunded.
Sara (Debt Camel) says
yes. Not much for the stress it probably caused you.
Sam says
Great to see everyones (mostly positive) upheld claims.
Fingers crossed we see these payments in the coming weeks. Surely no more delays…..
G says
Not holding my breath. But hopefully get the full refunds paid at end of the month ..
Louise073 says
Hi all,just wondering those who haven’t had a final response yet does your portal still say” You’ve not received your final response”…I’m still waiting just ridiculous x
Daryl says
Yeah I am still waiting as well, checking the portal multiple times per day! Feel like I could be the final person to get a response at this rate
Louisa says
Yes mine states the same and I’ve phoned them and they said there had been a decision made and I was to wait for the email!!
Syed says
I’m still awaiting a final outcome decision too.
Chris says
Yes, we’re in the last 18% to be issued apparently.
mark eden says
I think i must me last in the queue for a response
Becca says
Still waiting! Still don’t know why my complaint would fall into a complex scenario! Rang Amigo yesterday and they said all responses could take up till may …. what even is that?? A year late?!? I’m sorry but there is no excuse for misunderstanding the workloads by that amount.
Tori says
Hi Sara,
I’m so confused!
Please could you tell me roughly what I would be refunded if I agree to the offer. Here is my info:
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
44211750 £1,000.00 12 01/11/2018
48687813 £1,000.00 36 24/06/2019
52352978 £4,000.00 60 19/12/2019
Interest Refund Fee Refund Reinstated Interest
£5,259.46 £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 £1,456.18 due to Amigo and means you have a Scheme Cash Claim for the balance of £696.03.
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.
*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) £316.20
8% Compensation on payments made after Scheme Effective Date (3) £163.41
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £32.68
Total Refund Value (1+2+3 minus 4) £3,134.63
Sara (Debt Camel) says
All your 3 loans have been upheld and your balance has now been wiped.
You will get £3134 repaid IN FULL for recent payments you have made
and also
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £696, so roughly £120
Unless you think some of the numbers are wrong, there is no reason not to accept this.
ryan says
Still waiting too! sick of checking emails/portal. 1 loan of £5000 in 2016 /1 top up of £4500 in 2018- whats so complex??? Totally wiped from credit files and told to stop paying in november 2023. Obviously good signs but just want it done and dusted now!
Darrell says
So I’m still waiting but now it says 82 per cent of letters issued on there website,,so I’m in the 18 per cent club
Louise073 says
It’s ridiculous I’m in that 18% too 👍
Daryl says
I’ll join you guys! At this rate I’ll end up in the 1% club!
Kirsty says
Same! I must’ve annoyed the heck out of them!
G says
I was waiting for absolutely ages like you guys. Had email stop paying and removed from credit file. And I had outcome from them two days ago. UPHELD So you should get yours soon
Annie Mcintyre says
Had an outcome today saying upheld and total cash claim £30 is this correct does anybody know pls
Sara (Debt Camel) says
can you past in the summary figures you have been sent? Is there an open balance that is being cleared?
Annie Mcintyre says
No it just gives me loan dates and amounts and asks me to tick accept or escalate
Sara (Debt Camel) says
you should ahve been sent an email as well with the numbers in an Appendix
Annie Mcintyre says
Thanks Sara, just read it all properly, it’s my daughter and son in law claim, she has claimed as the guarantor in her name, not the borrower in his, as she didn’t make any payments towards the loan it has gone down as zero, any advice for them pls
Sara (Debt Camel) says
Well that is a disaster. (Unless she said in her claim that seh was making a joint claim on behalf of her and her partner who is the borrower?)
is there a remaining balance?
Danny Rixon says
Hi Sara,
Please help as this is all confusing the life out of me please could you tell me what I would be owed
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
41286731 £5000.00 36 10/04/2018
47553584 £4750.00 60 26/04/2019
51350624 £5250.00 36 07/11/2019
Interest Refund Fee Refund Reinstated Interest
£6743.30 £0.00 £0.00
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £1425.49
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £170.26
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £34.05
Total Refund Value (1+2+3 minus 4) £1561.70
Sara (Debt Camel) says
do you have a balance outstanding? How large?
danny says
No outstanding balance
Sara (Debt Camel) says
did your guarantor make any payments?
or is there a reference anywhere to Scheme Claim Cash Value?
I am asking because the Total Refund Value is a lot less than the Interest refund number on the figures you posted in.
Lee says
Got my outcome this morning guarantor I am have been released! My question. Is I live abroad with a totally different tel no now. How do I accept or do I need to when it’s upheld ? I habe no access to my portal as I don’t know my old tel number It say cash sum £30 for what I do not know ? Thanks Sarah for all your hard work
Sara (Debt Camel) says
You need to call amigo and say you want to accept but can’t access the portal.
So far as I can tell, the £30 is a fixed number they are offering to anyone that mentioned a complaint about a non affordability issue in their claim.
Dan says
Hi Sarah
Could you possibly give me some idea of what I will receive
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
42999454 £4,000.00 60 10/08/2018
44444259 £10,000.00 60 14/11/2018
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£1,786.72 £0.00 £0.00 £1,786.72
Cash Claim Value £1,786.72
8% Compensation £458.18
Non-affordability redress £30.00
Total Cash Claim Value £2,274.90
Sara (Debt Camel) says
You will get a PERCENTAGE, currently expected to be 17%, of the Total Cash Claim Value of £2,374, so roughly £390
Lee says
I can’t call from here on my phone plan. I emailed them to say I can’t receive the OTP. Thanks so much. I no longer have an UK bank account so they can send the £ for all it is to charity. I assume I don’t need to accept the fact my case was upheld ?
Sara (Debt Camel) says
I think that is right – but you need to keep a permanent copy of that decision saying you have been removed as guarantor.
Lee says
Thanks so much Sarah!
Colin says
I think I know the answer but are you able to confirm what is expected roughly all loans paid off, guarantor made no payments and no payments made post scheme.
Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | WSF8468363 | £1,500.00 | 36 | 11/06/2012 | | 12498594 | £2,000.00 | 36 | 22/07/2013 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £2,179.02 | £0.00 | £0.00 | £1,162.01 | £3,341.03 |
| Cash Claim Value | £2,179.02 | | 8% Compensation | £1,162.01 | | Total Cash Claim Value | £3,341.03 |
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
You will get a PERCENTAGE, currently expected to be 17%, of the Total Cash Claim Value of £3,341, so roughly £570
Leanne says
13186680 £1,500.00 36 16/10/2013
15457201 £4,000.00 60 16/04/2014
19863081 £5,000.00 60 14/10/2014
29496682 £6,500.00 60 12/02/2016
31022516 £7,500.00 60 23/08/2016
35742036 £8,750.00 60 21/03/2017
Interest Refund Fee Refund Reinstated Interest
£18,874.24 £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 £6,066.00 due to Amigo and means you have a Scheme Cash Claim for the balance of £14,902.49.
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.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £800.00
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £56.05
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £11.21
Total Refund Value (1+2+3 minus 4) £844.84
Hi Sara, am I right to think I’m going to get a payment off 844.84? Ano on website says end of February will start is they a cut off day for this too or not please?
Sara (Debt Camel) says
Your balance has been cleared.
You will get £844 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be 17%, of the Scheme Claim Cash Value of £14,902, so roughly £2,530
There is no firm cut off day for the first payments to be made. Hopefully they will start this month. But you should not make any plans for the money until has actually arrived in your account. Make sure Amigo has your correct bank details.
Anita says
Hi.
Thank you for all of your help yesterday.
I was just wondering if you know….
The outstanding refund is separate to the Scheme Compensation as I understand it and that Scheme Compensation is not likely to be paid until later in the year, however, if I am also due £3124.14 as a refund of payments, is that likely to come sooner as it is not part of the Scheme Arrangements?
Sara (Debt Camel) says
Amigo says it is hoping to start payments this month for the “in full” refunds of recent payments and the first instalment of the Scheme Compensation.
We do not know how these will be paid – will the “in full” refund be paid at the same time same time as the first percentage payment in a single payment, at the same time in a separate payments, or at a different time we don’t yet know.
You should not make any firm plans for the money until it arrives in your bank account. Even when Amigo stats paying, you do not know when you will be paid. Make sure Amigo has your up to date bank details.
Anita says
Hi
That’s great, thank you again!
I am just planning on settling my car finance so it is swings and roundabouts really because the longer the Amigo money takes to come the less my car finance settlement will be.
Don’t know what we’d do without you xx
Sally Hughes says
Hi can someone explain this and how much I will be expecting back..all loans have been paid in full and no missed payments as I can’t get my head round it
Thanking you in advance
Appendices
Amigo Loan Agreement Loan Amount Loan Term Date Loan Approved
HZ6424508 £3,300.00 36 08/07/2011
13770208 £2,750.00 36 21/05/2014
Interest Refund Fee Refund Reinstated Interest 8% Compensation Claim Value
£4,453.72 £300.00 £0.00 £3,785.36 £8,539.10
Cash Claim Value £4,753.72
8% Compensation £3,785.36
Total Cash Claim Value £8,539.08
Sara (Debt Camel) says
You will get a PERCENTAGE, currently expected to be about 17%, of the Total Cash Claim Value of £8539, so roughly £1,450
Sally Hughes says
Thank you that’s what I though too but reading all this and Facebook page confused me big time thanks for your input 😁
Trace says
Hi Sara
I made a complaint for unaffordable lending for a loan I had with Amigo back in August 2020 but had no response in the 8 week timescale. They then contacted me late 2020 to say my claim was on hold and then heard nothing until late 2021 to advise of the new scheme. I have paid my loan back plus £3291. interest and had £417 court costs added and they are now saying i am only entitled to the pence in pound. When i went to the claim overview letter is showed £4000 was due. They are saying my Cash Claim amount of £3,011.46 to which I will only receive about £500. I have complained as my claim was put in well before they decided to use the new scheme. Can you please give any advice on this as I think they are wrong and i should receive the full interest paid. My last payment was the 2015 and the court made payments as well.
Thank You for your time
Sara (Debt Camel) says
When was the CCJ? When was your last payment to it?
Trace says
Ccj was june 17 my last payment I made to them was September 2015⁹
Sara (Debt Camel) says
But have you paid the CCJ?
Trace says
Sorry misunderstood I’m not sure as they put a charging order on my house but I also had deductions from the court off my wages the last payment the court made looking on my statement was 2019
Just checked last payment by court showing was july2020. I still have a balance of £1363 so It can’t have all been paid off.
Sara (Debt Camel) says
If the last payment OF ANY TYPE was July 2020, then none of your redress will be paid in full.
It sounds as though you don’t think the balance on the decision is correct – this means they probably have the wrong amount for what you have paid so that needs to be corrected. Phone Amigo.
The decision should have said that the balance was being cleared. The CCJ and the charging order should also be removed. And if there was a CCJ for your guarantor, that should be removed too. If the decision isnt clear about this, you should phone Amigo and and get this clarified.
tracey says
Hi Sara
There is a balance outstanding so ccj not paid in full last payment made by the court was the November 2020
They had started looking at my claim as i had an apology email saying sorry the delay in October 2020 then decided to put a hold on as they were crafty and knew it would go in the new scheme. Couldn’t complaint o the financial ombudsman as they had stopped taking claim complaints.
Sara (Debt Camel) says
so as I said, none of your payments will be refunded in full
BUT if you think the balance is lower than what they say it is, it means they haven’t recorded your payments to it correctly, do you should get a larger refund. Phone them up and query this.
Also you want confirmation that the CCJ and charging order are being removed.
tracey says
Thanks Sara i understand the scheme details but what I don’t agree with is my claim should have been finalised before they went into the new claim not hang onto it some 12 weeks after my claim went in just so i had to wait over 3 years for a decision. Have i the right to go to the ombudsman regarding this as they did not deal with my claim in the deadline set. Thanks You for your advice
Sara (Debt Camel) says
No, sorry. the ombudsman can’t look at this. You got screwed – that was the purpose of the scheme.
Mike Hooker says
Hi
Received info the Claim Upheld
£5,000.00 60 28/03/2012
£3,500.00 24 07/02/2014
£3,500.00 60 12/06/2014
£5,000.00 60 22/04/2016
£5,000.00 60 10/06/2016
£8,500.00 60 15/11/2017
Interest Refund Fee Refund Reinstated Interest
£20,972.73 £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 £7,391.12 due to Amigo and means you have a Scheme Cash Claim for the balance of £9,882.47
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
Just a little confused on figures. I am assuming the £7,391.12 is wiped and I will receive a %(17%) of the £9,882.47. Can you confirm Scheme Cash Claim Figure looks correct from the info given. If so, will accept the claim. Thank you for any advise.
Sara (Debt Camel) says
when did you last make a payment to Amigo?
is there a box below which talks about refunds?
Maroof says
Hi Sara ,
I’m not due a refund as my loan was fully paid a while back but I’m due a 17% percent the scheme claim cash. Are we going to be paid from September 2024- November 2024 ? Is this the payment they say is the smaller payment 6 to 9 month’s later ? I think I will have to wait much longer for my payment as the refund payments will go out end of February first. Can you clarify thanks
Sara (Debt Camel) says
The percentage refunds will be paid in 2 installments. The first will be larger and Amigo hope to start making these in February but they will be done in batches so you won’t know when yours may come even if you start to see people saying they have received theirs. The second smaller one will be towards the end of 2024.
Michelle Walker says
Hi Sara.Finally had my amigo scheme outcome letter.v confused.Can you clarify? Will I receive Total borrower refund £2722.49? + non affordability redress £30+Total cash claim value 17% off £30? Letter is v confusing thankyou.
Sara (Debt Camel) says
No. Can you paste in the numbers.
Michelle says
Loan amount £2000 App 10/2017
Loan amount £2.750 App 07/2018
Interest refund £2,722.49
Fee refund £0.00
Reinstated interest £0.00
Total Borrower Refund £2.722.49
Cash Claim value ££0.00
8%compensation £0.00
Non affordable redress £30.00
Total cash claim value £30.00
Sara (Debt Camel) says
do you have a current balance that is being cleared? or has your guarantor made payments?
because on those numbers you will only get 17% of £30, so about a fiver.
Kristian says
Hi Sara.
My guarantor (my fiancée) has had an email stating they are owed £23,000. I guess will be paid at 17p in the pound.
I have just had my decision.
Interest Fee Reinstated Total borrower
Refund Refund Interest Refund
£8,804 £0 £0 £8,804
Cash claim value £0
8% compensation £0
Non affordability £30
Redress
Total cash claim £30
Value
Does this mean that I will be getting £30?
Or the total borrower Refund of £8,804?
I think it’s just the £30 because I was paying the repayments on my partners card (guarantor). Could you help as I don’t really understand.
Thanks
Sara (Debt Camel) says
You will be getting £30 paid at 17%, so about a fiver.
Overall between the two of you you have done well out of this. If you had made the payments not your partner, you would have received 8804 paid at 17% because that would be just the interest – your partner as guarantor has received the full payments of 23000 paid at 17%.
Louis Clark says
Hi there, could you advise me what i would get back ?
Is the claim value what i would end up getting?
Thanks
Sara (Debt Camel) says
Amigo has several different templates using very similar language for different things.
Can you paste in the wording you were sent?
Louis Clark says
Summary Agreement Claim Values
This is not the amount you will receive.
Interest Waived £1.040.42
Fee refund £0.00
Reinstated interest £0.00
8% Compensation £0.00
Non Affordability claim value £30.00
Claim Value £1.040.42
Cash claim value £30.00
Total cash claim value £30.00
Agreement claim values
Interest waived £1,040.42
Fee refund £0.00
Reinstated interest £0.00
8% Compensation £0.00
Non affordability claim value £30.00
Claim value £1,040.42
Sara (Debt Camel) says
Has your guarantor made some payments? Is there a balance that is being cleared?
Louis says
No payments from guarantor and balance is cleared
Sara (Debt Camel) says
On those numbers you will about 17% of the total cash claim value of £30 – so about a fiver.
BUT the total cash claim value is a LOT less than the interest waived of £1,040.
The usual reasons for this 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 applies to you, you need to phone Amigo up and ask why the total cash claim value is so low.
Sammy says
Can sarah pls look into my quiery
Sara (Debt Camel) says
did you or your guarantor make a claim to the Amigo scheme? If you did, have you had the decision on that claim?
I can’t talk about what will happen with Lantern until you answer this.
Leee says
When you call the scheme tel no- It’s basically saying that all customers will hear their claim outcomes by end of January and will receive payment by end of March , but can’t provide any more detail. You cannot speak or leave messages !
Tried calling the scheme Sarah and that’s basically what I got or a friend in the u k tried to call it for me. It’s lucky I was upheld and not trying to fight it !!
Sara (Debt Camel) says
That’s odd, other people have been getting through.
Lee says
Strange. We used the number amigo gave us and that’s on the upheld decision email
Lee says
She got through for me. I had to email authority for someone in the office to accept for me which I did. Thanks all
Daves says
Hi Sara what would be my refund total. These numbers are so confusing-
Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved |
| 41726015 | £10,000.00 | 36 | 04/05/2018 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue |
| £7,404.76 | £0.00 | £0.00 | £1,015.20 | £8,419.97 |
| Cash Claim Value | £7,404.76 |
| 8% Compensation | £1,015.20 |
| Total Cash Claim Value | £8,419.96 |
Sara (Debt Camel) says
You will get a PERCENTAGE, currently expected to be about 17%, of the Total Cash Claim Value of £8419, so roughly £1,430.
Daniel says
I had already paid off the loan in full. Worth mentioning during the time the loan was still active I got notification from them that say my loan still had 18 months left to pay it had been reduced to just 6 months payments to be owed, which I think may be one of the “refund” figures I’m about to show?
Redress
As your loan agreement(s) is already settled and closed, any redress due to you will be eligible for a cash
refund, paid directly to the bank account of your choice.
As well as reviewing your Scheme claim, we have also identified another issue on your account. We have
found that there have been instances where Amigo did not send the correct notices to you, when your
account was in arrears. The notices have now been issued correctly, if relevant, however, we apologise for
any undue stress that this may have caused.
To correct this mistake Amigo would refund any incorrectly charged interest, when your account was in
arrears. However, as part of your Affordability claim, we have now refunded all interest charged to you, so
there is no additional redress due, or amounts left to be refunded.
Interest refund Fee refund Reinstated interest Total borrower refund
£2,152.44 £0.00 £0.00 £2,152.44 (do you think I’ll be refunded this or maybe why the loan length was cut short?)
Total Refund Value (1+2+3 minus 4) £1,281.86 (I understand I’ll receive this £1,281.86)
It’s really the “Interest refund” I’m not 100% sure on, do you have any ideas please?
Sara (Debt Camel) says
Did you just have the one loan? How large was it? Do you know the total amount you have paid to Amigo?
Daniel says
Apologies my original message was too long! it was two loans, one was 2k, the other was 2.75k both over 36 months. I don’t have the exact figure I paid to them, I definitely paid up in full. I know I’ll get the £1281 + 17% of “total cash value” was just hoping you had an idea with regards to the Interest Refund. Thanks again!
Sara (Debt Camel) says
Were both loans upheld?
Is there anywhere in what you have been sent that refers to either “Total Cash Claim VAlue” or “Scheme Cash Claim Value”?
You need to go back and add up how much you did pay to each loan.
Alan says
Hi need help understanding my claim outcome and if I should appeal any of them
Amigo Loan Agreement No.Loan AmountLoan TermDate Loan ApprovedOutcome Reached For This Agreement
38993019 £4,000.00 60 18/11/2017 Defended
39873196 £5,250.00 60 12/01/2018 Defended
41620690 £6,250.00 60 28/04/2018 Defended
42975989 £7,750.00 60 07/08/2018 Upheld
Interest RefundFee RefundReinstated InterestTotal Borrower Refund
£3,557.66 £0.00 £0.00 £3,557.66
Cash Claim Value£0.00
8% Compensation£0.00
Non-affordability redress£30.00
Total Cash Claim Value£30.00
Sara (Debt Camel) says
So they have rejected the first three loans and upheld only the last one as unaffordable.
I assume you are the borrower? Did the guarantor make any payments> Did they make a claim?
Is there a balance remaining that is being cleared?
Alan says
Yeah I am the borrower
My guarantor made some payments and they have made a claim
No its been paid off
Sara (Debt Camel) says
Did the guarantor make any payments to the earlier loans?
The reason they are not refunding you any of the interest on the 4th loan is that you will have paid less that £7750 to that loan so all the refunds is going to the guarantor. Have you made any repayments to the guarantor?
They are offering you £30 – this is a token offer as you probably mentioned something in your claim that was not strictly an affordability complaint.
Alan says
No my guarantor only made payments to the 4th loan and yeah I have paid back the guarantor
Sara (Debt Camel) says
Then your guarantor is, I hope, going to refund you the refund they will be getting back from Amigo?
Alan says
Okay thank you for my help so should I just accept my claim outcome
Sara (Debt Camel) says
If you appeal the first three I don’t know if you are likely to get any refund even if they are upheld, as Amigo may take the view that a lot of the 4th loan is being refunded so you never repaid that. You can’t be left worse off by doing that, but I don’t know if you will be any better off.
Ali says
Hi everyone,
Just received my claim outcome and it’s has been accepted. I’m eligible for cash refund I’ve made as guarantor. Does anyone know if instead of getting a cash refund (as this is only at 17%), if I can get amigo to reduce the current balance of the loan by certain amount.
Sara (Debt Camel) says
How much have you paid? When did you last make a payment?
has the borrower also made a claim – what have they been told the new balance will be?
G says
Do we actually think payments will start to begin at the end of this month or when all claims have been sent out… just feel like maybe the payout will end up taking twice as long as the claims process
Sara (Debt Camel) says
There is no reason why all the decisions have to be issued before payments start.
Rich says
Hi,
Posting on behalf of a friend who recently received notification that her complaint had been upheld. I’m really confused regarding the redress:
She took out a guarantor loan for £2,000 in July 2019. 24 payments of £123.63. She made 20 payments = £2,472.60 and has a balance of £496.52 still to pay (account was frozen on September 2022 (Covid) and has been ever since.
She’s been told that the redress is 17p for every £1 paid so far. i.e:
8% compensation
£25.09
Claim value
£370.89
Cash claim value
£370.89
Total cash claim value
£395.98
Firstly these figures seem wrong based on 17 per pound paid and secondly… i thought as the loan was still ongoing she was entitled to a refund of any interest repaid more than the amount borrowed plus 8% statutory interest?
Any help/advice would be hugely appreciated! :-)
Richard
Sara (Debt Camel) says
Those figures are calculating the redress before the 17p in the point amount is applied.
In them she would get the total cash claim value of 395 at 17% = about £65
Yes the numbers do look wrong. If she has paid 2472 then the claim value should be 472 not 370. So she should get about £100 more on the claim value but that will only be n extra £17 actually paid out.
The 8% calculation should have stopped at 28 February 2022. It is hard for me to guess what it should be – It would depend on the timings of the later payments.
Rich says
Thanks very much Sara :-)
In terms of the balance on the loan – should I that be waived because she’s already paid more than the £2000 loan amount?
Sara (Debt Camel) says
yes – the letter should have said that, have you read it?
Richard Howes says
Yes – it doesn’t say that :-(
Sara (Debt Camel) says
That sounds odd. She needs to phone amigo up and ask what is happening to the balance and say that the numbers look wrong.
Bolek says
What a rubbish company… I complained in 2020 via Resolver, I received an email back from Amigo that they sent me an outcome detailing that the complaint should have not been raised (with an agressive tone) but never received an outcome or explanation why, therefore I escalated to the Ombudsman and a week later they announced the scheme… they wiped the loan from my credit file this November but still waiting for the outcome 3 years later…… I don’t even think my claim is complex, as I was in DMP before applying to ESO, not much interest to calculate….
Nicky fardoe says
I feel the same as you I complained through resolver and heard nothing then I got an email in November to say the debt had been wiped from my credit file but still have heard nothing regarding my claim. I don’t understand why my claim is complied as I paid all payments myself