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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Wayne says
Hi Sara does this look right and I’ve got a full refund too
Amount Term Loan Date Loan Approved
37055052 £2,000.00 12 13/07/2017
38152438 £7,000.00 36 12/10/2017
39232955 £10,000.00 60 05/12/2017
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£14,341.94 50.00 £0.00 £14,341.94
Cash Claim Value £9,808.19
8% Compensation £903.40
Total Cash Claim Value £10,711.59
Sara (Debt Camel) says
How large was the full refund part?
Wayne says
Payments made after Scheme
Effective Date (1) £3,743.25
Payments made before Scheme
Effective Date (2) £790.50
8% Compensation on payments made after Scheme Effective Date (3) £299.70
8% Compensation withholding tax (on payments made after Scheme
Effective Date) (4) £59.94
Total Refund Value (1+2+3 minus 4) £4,773.51
Sara (Debt Camel) says
That looks fine – the total of the Total Cash Calim Vlaue (which will be paid at about 17%) and the Total Refund Value (which will be paid in full) is more than the Total Borrower Refund
Wayne says
Ok thanks for all your help Sara
Mark says
So it looks like people are starting to receive their first payments (well they’ve had the email saying they’ll get it in the next few days).
I only got my outcome email about 3 weeks ago and the stress and anxiety the ridiculously long wait took was definitely affecting my mental health. I’m due a low sum compared to some (approx £800 in total) but for me it’s just getting the outcome that was most important.
Despite Amigo saying no payments will be made until all outcomes are given seems to be yet another lie from them.
Knowing the stress the process caused me my heart goes out to those still waiting for their outcome whilst others are getting their first payments.
Priority should have been to make sure everybody gets their outcome first.
Kann3 says
Hi just wondering my complaint got upheld. And I got an ema with all details of refunds ,I am wondering what the timeline is for markers on my credit file as it said in the email that they would all be removed, many thanks
Sara (Debt Camel) says
Amigo hasn’t yet said this.
Mariann says
Hi Sara, I am still waiting for my outcome and I was just thinking ahead…
I went through my statement and this is the information I’ve collected:
Borrowed £5 000
Total paid £6 357.61
£5 000 paid by 9 dec 2022
Paid £1 271.36 since dec 2022
Paid £2 574.85 since dec. 2021
Total interest I paid: £2 144,26 before entering DMP (after they stopped the interest)
ESO applied in November 2023.
Outstanding balance £670 according to the portal. No guarantor payments.
Do you think they owe me any full refund?
I didn’t see any breakdown for people with DMP and I don’t know if they calculate or re-instate the interest they stopped charging due to DMP. Are they looking at the original contract’s interests?
I think they owe me a full refund but I don’t want to have high hopes…
Sara (Debt Camel) says
When did you complain?
Mariann says
Before the scheme in 2019. When the scheme started I received an email that my claim is registered/logged in the scheme.
It’s completely removed from my credit file in November 2023. I borrowed in 2019 and 3 months later I got DMP.
Sara (Debt Camel) says
In that case all the amounts you paid over £ 5,000 should be refunded in full as there were (a) after you complained AND (b) after December 2021.
The DMP is irrelevant here – all that matters is the total you have paid over the amount your borrowed. The “interest charged” on statements is also irrelevant.
If your refund is not for £1357 in full, plus some 8% interest, query it. Amigo makes mistakes in some decisions, either because of the date you complained or because they incorrectly characterise payments from a third party (your DMP firm) as coming from your guarantor… this needs to be challenged straightaway by phone.
Mariann says
Thank you very much! Hope this also helps for other people with similair case.
Claudia says
Hello, how do you know if you are being paid “in full” or percentage?
I can’t find the overview I was sent when I accepted. It’s been over 6 months since I accepted.
Sara (Debt Camel) says
roughly when was the last payment you made to Amigo?
Claudia says
It was July 2019 when I paid the final payment.
Sara (Debt Camel) says
Then all your redress will be paid at 17%. Only some payments after December 2021 are being refunded in full
Jon says
I originally put an affordability complaint into Amigo on 30th January 2020 for 2 loans I have/had, first loan £7500 in May 2017 and Top up to £10000 in September 2017. Amigo rejected my complaint on 11th May 2020, I eventually complained again through the Financial Ombudsman and got confirmation of this being logged on the 10th September 2020 saying it might take 4 months. I was still paying the £395.25 per month which I did up until September 2021 (I did take 6 months breathing space between Feb to July 2021) paid again in July, August and September (at that point my balance was £5752.58) before complaining to Amigo for not highlighting equitable set off considering I had paid over £6000 above the original £10,000 loan. I can’t remember exactly how long it took for Amigo to instigate the equitable set off but I know the interest kept being added up to March 2022 with the outstanding balance being increased to £7114.50.
I have just had an email last month saying they defended the complaint on the first loan but upheld the complaint on the second loan. My circumstances hadn’t really changed in the 4 months between the loans. Should I therefore challenge the first loan?
Is there any way of getting a full refund rather than at best 17% as this should never have been rejected in May 2020. I therefore wouldn’t have paid at least 12 payments of £395.25. As by November 2019 I had already paid over £10000.
Sara (Debt Camel) says
WHat was the term of the first loan? The decision on the second one, was there a line in there for a fee refund?
No payments made before Dec 21 are being refunded in full. This cannot be challenged. You are one of the many that has been badly affected by Amigos arbitrary choice of date. I argued that it should have been Dec 2020 when Amigo stopped paying out or even considering any complaints.
Jon says
The First loan was 60 months, monthly payment of £296.44 per month.
There is a line in for fee refund but the value is £0
Sara (Debt Camel) says
Well you probably paid a few hundred in interest on the first loan. Up to you if it want to challenge the first loan – a lot of appeals seem to be successful.
It sounds as though you didnt make any payments after December 2021 because you were already in equitable set off? In that case none of your payments will be refunded in full and this cant be challenged.
Jon says
Hi Sara,
Stopped making payments in October 2021. I pushed to get equitable set off in September 2021 but Amigo took an age to get it instigated and continued to add interest until March 2022. My balance increased from £5752.58 to £7114.50.
I obviously won’t be alone in thinking this but I find it hugely unfair that my complaint was in very early and should not have been rejected in May 2020. I could fully appreciate it if I hadn’t complained until the scheme was set up. But as you say, this can’t be challenged no matter how unfair it may look. I just thought there may be a challenge regarding the interest increasing by £1361.92.
Sara (Debt Camel) says
the interest increasing doesnt matter as your claim for that loan has been upheld – the balance with the extra interest is being cleared.
Jon says
Thanks Sara, I understand the interest is being cleared but with the increase in interest to be cleared that makes the pence in the pound payment to me around £231 less as it is having to clear more before paying me. It sounds like it’s just something I need to accept and be grateful the balance is being cleared.
Sara (Debt Camel) says
No, you are not worse off because the borrower refund amount will be higher to take account of the extra interest they have added.
Jon says
Hi Sara, Just a quick one. If I appeal the first loan but accept 2nd loan decision. Could appealing put the 2nd loan at risk of being reviewed again?
Sara (Debt Camel) says
I do not have a a set of the rules Amigo will fallow. But this would be a truly STUPID thing for them to do – they want to get these appeals through as quickly as possible, why make extra work by reviewing a loan which you have accepted?
Damian says
I borrowed £22,500 across 3 loans from Amigo Loans and had to get a DMP because i couldn’t afford to pay it. The debt then got sold to a creditor and i have being paying them ever since through my DMP. Is it more complicated if your debt has been sold? Im still waiting for my letter of outcome from Amigo.
Sara (Debt Camel) says
Well Amigo has to find what you have paid to Intrum. That should be a simple file that Intrum supplies. But Amigo seems to be making a real mountain out of sorting out some claims.
Edwina says
I have just called amigo and they have said that the full refunds have started to be paid but can take until April to receive! I asked what the hold up was and she said there isn’t a hold up lol.
Donna says
Good morning. Has anyone actually received their refund in full in their bank accounts yet?
JASON says
Nope, not even had the email yet and its 4 months since my confirmation email. I don’t trust them one bit.
S says
I wish still waiting on the email.
Donna says
Me too. Wish they’d hurry up for all those still waiting on decisions. Also start paying the ones who have. Every one has waited long enough.
JASON says
Just spoken to Amigo for the 4th time in 2 weeks and have been given 4 different stories. The “scheme advisors” are of no use whatsoever and they just read info from the Amigo website page, they work for a company called transwood.
They claim that they are paying customers but can provide no evidence of doing so, the payments will take 5 days after the date you receive an email from Amigo.
The advisors say there is no information on how the customers are chosen, value, alphabetically, random etc etc and cannot even say how many are being paid per day. I have no confidence that anyone is being paid and believe this to be nothing more than yet another delay tactic from Amigo to try and get out of paying their customers what is owed.
Sara (Debt Camel) says
I suggest you stop wasting your time in trying to get any sense of out them.
For what its worth, I have NO reason to believe this is a delaying tactic. Amigo have this money sitting ringfenced to be used for this – they gain nothing by delaying payments. These are the first set of payments Amigo has made and they will be ironing out processing problems as they go.
JASON says
Strangely enough I asked about procedural issues and was told there were none.
Sara (Debt Camel) says
and there is little chance that the person you are talking to would have known about them.
JASON says
How do you know what is going on at Amigo?
Genuinely interested as you seem to know more than people at Transwood and Amigo do.
Sara (Debt Camel) says
I have sat through about 10 major lender administrations and schemes. Customer services never have any idea when payments will be made, in what order, when the decisions will be going out… and so far the comments from people on what Amigo has said to them make it sound as though exactly the same is happening here.
Sean says
Any info on transwood such as website or contact?
Sara (Debt Camel) says
you need to use the normal Amigo number
Benjamin says
I spoke to Amigo today and was told that £4M was paid out last week. This week they are paying £5M a day for a total of £29M which is the full refund amount.
Payments are being made in size order – smallest to largest.
I think it would be good if people could post when they receive their payment email along with their refund size. This way people will know where Amigo are up to. It will give people a good idea of how close their own payment is to being made.
Please post anonymously
Sara (Debt Camel) says
there have been so many reports from Amigo customer services, all of which seem to make sense individually but which contradict each other.
L72 says
I’ve spoken to them 3 times, 1st was 6 weeks ago told me decision had been made, then 2 weeks ago not been looked and was a complex case then today told being assessed.
Daryl says
So would this mean the people who haven’t heard back yet, will not be getting full refund amounts?
Sara (Debt Camel) says
no, it says nothing at all about when people will be norified.
JASON says
Thanks Benjamin. Will be interesting to see if this actually happens, especially as I’m waiting on nearly £8K
Conor says
Still only 1-2 thousand customers a day. We could be waiting a while
Benjamin says
What do you mean? Where do you get 1-2000 per day?
Conor says
£5m a day, is 2,000 people at an average of £2.5k per day. A rough estimate and nothing to base that on other than guess work at this stage. I basically think we just need to temper our expectations and yet more evidence of how unfair and cruel this whole debacle has been
Edwina says
If that’s the case then everyone due a refund will be paid this week, if they owe 29 million and already paid out 4 million last week and 5 million a day this week! But Amigo have said it can take till April. I don’t even think they have paid anyone yet as nobody seems to have confirmed payment just a few with an email saying 3-5 days for payment.
Conor says
I didnt realise £29m was the amount held for ‘full’ refunds
Sara (Debt Camel) says
I don’t think you should assume that this figure is correct.
Louise Jacques says
Hi Sara I made an affordability complaint in Nov 2020 using ‘Resolver ‘ I paid my outstanding 2nd loan in April 2021. Amigo contacted me every 8 weeks from Nov 2020 to say they were looking into it. But after 3 responses they just ignored me and then a while later the ‘scheme ‘ started. I have all the proof of this complaint and have sent it in along with my escalation to the upheld claim of 17 per cent. I also at the time of taking out the 1st loan had a debt plan with step change. I have sent in the bank statements to prove this. As they didn’t do the necessary checks. I was desperate at the time, but the high interest by my top up made priority debts difficult to manage and I was on benefits at the time also. Please could you advise if i would likely get any interest refunded ? After escalation, As I asked for this on my first initial complaint in 2020! I’m interested to know anyone in the same boat please ? Who had upheld loans but escalated them? Many thanks and good luck guys
Sara (Debt Camel) says
So you are escalating because they are refunding you at 17% – when was your last payment to Amigo, direct or via StepChange?
Or because they have got the numbers wrong and are treating the StepChange payments as though they came from your guarantor so they are not refunding them?
I have seen both sorts of error from Amigo but you need to be clear about this to them. Post your numbers from the decision here if you arent sure.
Louise J says
Thanks Sara, no the step change plan was before my loans and at the time of starting the 1st loan but they didn’t know as they didn’t do the checks. All payments made to Amigo were through me and no third party or guarantor. My 17 per cent is small around 1250 which I’m not happy about as I made an unaffordability complaint back in 2020. Payments finalised in April 2021 – any advice much appreciated thank you
Sara (Debt Camel) says
I am sorry but no payments before December 2021 are being refunded in full so all your refund will be at 17%. You cant challenge this, even though you had complained earlier.
Louise J says
Thanks Sara – appreciate it. Good luck guys
S says
Suprised no one here has confirmed payment.
Probably a very small % that may have recieved payment.
Lisa Gallagher says
Payment… I’d still like to receive my outcome lol!
Louisa says
Same! Keep checking every day but nothing
Sarah W says
I honestly don’t understand this bit I’ve finally got my claim email through this is what it says
Claim Outcome: Upheld Total Cash Claim Value = £13882.13
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full. You will only receive a small proportion of the Total Cash Claim Value through the Scheme, as a pence in the pound payment.
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£12,627.70 £0.00 £0.00 £12,627.70
Cash Claim Value £10,234.30
8% Compensation £3,617.83
Non-affordability redress £30.00
Total Cash Claim Value £13,882.13
I honestly don’t understand half of what is said in this email please can anyone help me figure out what I may be paid
Sara (Debt Camel) says
You will get a PERCENTAGE, currently expected to be about 17%, of the Total Cash Claim Value of £13.882, so roughly £2,400.
This money will be paid in 2 instalments, the first one will be larger and Amigo hopes to pay it in April/May, the second one will be towards the end of the year.
Sarah Williams says
Thank you for replying Sara I know it’s better than nothing but looking at the interest I paid is just criminal really I honestly wish I had never gone with them
Sara (Debt Camel) says
Indeed. Shocking what a large refund you should have received.
Dave K says
Hi, I got the same email as Sarah W, however made the claim in April ’21. I had paid off the whole debt in mid 2018′. Should I not have been awarded the full amount? Or do I need to wait until I get the final award amount?
Sara (Debt Camel) says
if the loan was repaid in 2018, all the redress calculated will be refunded at 17%, none of it in full
Phil says
Has amigo said what percentage the first payments in April/May will be?
Sara (Debt Camel) says
no
Chmj says
So the loan has been removed from my credit file and I’ve been asked to stop paying and my garuntor has had liability removed
I have yet to receive a final outcome from amigo
Is it safe to assume as they have no started making in full payments that I won’t be getting an in full payment or the fact I have yet to receive a decision means it’s unlikely to be upheld ?
Sara (Debt Camel) says
Is it safe to assume as they have no started making in full payments that I won’t be getting an in full payment or the fact I have yet to receive a decision means it’s unlikely to be upheld ?
No I don’t think you should assume either of those is correct.
Scott says
This is what was in my email. I’m pretty intelligent yet even I’m confused
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £514.25
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £62.91
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £12.58
Total Refund Value (1+2+3 minus 4) £564.58
Sara (Debt Camel) says
From that box you will get a refund of £564 paid in full.
But was there a previous line which gives a Total Cash Claim Value figure?
Or a Scheme Cash Claim Value figure.
Scott bacon says
This is the other box
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
51060265 £2,250.00 36 16/10/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£1,667.43 £0.00 £0.00 £1,667.43
Cash Claim Value £1,153.18
8% Compensation £43.02
Total Cash Claim Value £1,196.20
Sara (Debt Camel) says
in addition to the “in full” refund of £564, you should also get a “percentage refund”, probably about 17%, of the Total Cash Claim Value of 1196, so about another £200
Damian says
Am i right in thinking if you haven’t yet paid the full amount of the loan back you are not entitled to any compensation? I still think im paying mine through the DWP.
Sara (Debt Camel) says
Through the DWP? Or through a DMP?
Damian says
Through A DMP (stepchange) i mean. Sorry for the confusion.
I’m still paying to Intrum who bought the debt.
Sara (Debt Camel) says
If you win the claim the interest will be removed from the balance. Unless you have already paid more than the amount borrowed, there won’t be any cash refund.
Ljm says
Good morning Sara
I am still awaiting a decision. I started a claim feb 2021 and then took it to ombudsman as I didn’t agree with decision. Would this mean if I won this time I would receive payments in full from.Dec 2021?
Sorry late to the comments just curious as I’ve been reading though.
Thank you 😊
Sara (Debt Camel) says
If you had repaid more than you borr By that time, yes.
Scott says
I was a bit confused for a while with what this actually meant and what money I will be getting back.
Claim Outcome: Upheld Total Cash Claim Value = £8609.70
Refund Fee Refund Reinstated Interest Total Borrower Refund
£12,387.71 £0.00 £0.00 £12,387.71
Cash Claim Value £7,827.68
8% Compensation £782.02
Total Cash Claim Value £8,609.70
Payments made after Scheme Effective Date (1) £4,560.03
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £508.18
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £101.63
Total Refund Value (1+2+3 minus 4) £4,966.58
So I’m taking from this that I’ll be due a full refund of £4,966.58 and then I’ll get around 17p in the £1 from the £8609.70…is that right??
That will be if I ever get an email saying my payments will be made and if payments are actually made I guess
Sara (Debt Camel) says
Yes that’s right
Scott says
Thanks for your help!
b says
anyone received their refund yet
Del boy Elder says
People like myself are still waiting on decisions, I’m not sure anyone will see any payments until amigo know what they are actually paying out. Can I ask you when you received your decision please..?.
Edwina says
I received my decision beginning of November 2023
S says
Nope…
Not seen any evidence anyones actually been paid yet. Even over on facebook not much good reports
Rebecca says
Has anyone even received the email to state the funds are being released? Only seen a couple comments on Facebook that people have received email and their refund but only small refunds like £61. Rumours they are paying the smaller amounts people are owed first to keep interest building up. Seems to be very little people actually receiving anything considering the first week of March is almost over and they stated on their website payments were commencing end of Feb/beginning of March.
Chelsea Holland says
Had an email today to say I would receive mine in the next 3 days
Adam says
Hi my guarantor has received the following
Dear Helen
We’ve reviewed your claim against ALL Scheme Ltd (‘SchemeCo’), regarding the loan(s) you stood as Guarantor for, with Amigo Loans Ltd (‘’Amigo’’). This was reviewed as part of our Scheme of Arrangement (‘’Scheme’’). You can read more about this at http://www.amigoscheme.co.uk/.
Claim Outcome: Upheld Total Cash Claim Value = £30.00
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
10507145AT £2,000.00 36 04/07/2008
WST2800494 £5,000.00 60 20/07/2009
36291081 £2,500.00 36 12/05/2017
37436288 £5,000.00 60 04/08/2017
41791694 £6,500.00 60 08/05/2018
44538714 £9,000.00 60 19/11/2018
Guarantor Total Payments £0.00
8% Compensation £0.00
Non-affordability redress £30.00
Total Cash Claim Value £30.00
I still haven’t received my outcome but my guarantor never made a complaint and as you can see didn’t make any payments to my account either
Sara (Debt Camel) says
I think you need to contact Amigo urgently to check they have your claim.
Your guarantor could also get back to them and say that she never made a claim
Laura Hill says
I Accepted 1 claim, but rejected another 2 claim outcomes as they weren’t upheld. What happens now, do I wait to hear form my other 2 claims? Will my other one stay upheld and receive payment as normal?
Sara (Debt Camel) says
Did the decision contain an “in full” refund elemant?
Laura says
Hi Sara, No it didn’t.
Sara (Debt Camel) says
Well the first of the percentage payments aren’t going out until April or May (assuming Amigo don’t delay again) so you have the appeal sorted before then. Amigo haven’t said what they will do about payments. If it was me running this, I would make the first payment based on the original decision.
Adam says
They definitely have my claim as have received all update emails ECT regarding claim …..will call them to check anyway
L says
Are amigo updating the percentage? I know they say April to get responses, but do we believe this? Dragged on forever.
Marti says
Hi Sara – Hopefully this is a short and simple one for you, We borrowed £10,000 – Originally complained December 2020, by the time of December 2021 had paid back £9891.30 – Keeping track of the comments on the group does this mean that we would not be entitled to any ‘in full payments’ made after December 21 as we are £109.70 short? Obviously as it stands no guarantee today we would be due anything back until we have had a decision but we made a further £3280.63 in payments before we stopped making further payments after agreeing with Amigo due to the complaint – Thanks and thanks for all your updates on the group so far.
Sara (Debt Camel) says
the “in full” refunds will start at the point after December 21 when you have paid the amount you borrowed. Which sounds like from January 22?
Marti says
Hi Sara – Thanks for confirming, It was Infact December 2021 were we had paid the £10,000 back as we made a payment of £205 so taking us to £10,096.00 paid in December 2021 – I had read the reviews wrong as assumed it was before December 2021 so apologies for that – The £10,000 loan was not the first loan we had from Amigo as we had to top up like many others – I suppose it’s now just a waiting game to hear from Amigo
Louisa says
Anyone having problems logging into the portal this morning? I log in every day to check but it’s not sending me the verification code. Tried a few times now.
Louisa says
Managed to get back in. Still no decision for me :(
JASON says
Latest from Amigo re when payments are due:
” Unfortunately I am unable to give an update on individual claims and processes of how and when payments are being made. I appreciate it is frustrating given the time it has taken but we are working through these claims and payments as quickly as we can.
Full refund payments (Total Refund Value) has now started. This is a manual process and can take several week for us to finish processing these payments. As soon as there is an update on your individual payment, you will be the first to know. I would ask for your continued patience and reassure you we are working hard to process the Refund Value payments as soon as we can.
You have the right to refer your claim to the Financial Ombudsman Service if you wish. However, the Financial Ombudsman Service has indicated to us that it will be unlikely to progress your complaint because of the operation of the Scheme.”
E says
So I have a Scheme Cash Claim of £5,717.53, presuming this is the one paid at 17p/£
The other figure is the 1+2+3-4, which comes out to £6184.58, presuming this is the one paid in full.
Sara (Debt Camel) says
yes that is right
E says
I still have a few Amigo accounts showing on my credit file, despite every single loan I’ve with them being upheld in my claim.
They show as “Paid and Closed” on credit karma, but I thought the whole point was that every single reference of them was to be removed.
Some were removed in November, the most recent loans with them, but these loans from 2018/2019 still stand. Will these eventually disappear as well?
Sara (Debt Camel) says
if there are no problems showing, then removing a loan will cause your credit score to drop a bit.
Del boy Elder says
Hi Sara, so I eventually got word back but it looks like they are only upholding 1 out of 3 loans and also have said I still owe over £9000. Is there anyway I can send you the full agreement they have sent..?
Sara (Debt Camel) says
no, paste parts of it in here and I will have a look
Derek P Hanway says
Hi Sara
I got my decision from Amigo this morning. It says as follows
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 £3,329.84 due to Amigo and means you have a Scheme Cash Claim for the balance of £12,938.74.
Appendices
Interest Refund Fee Refund Reinstated Interest
£24,196.73 £0.00 £0.00
Appendices
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £7,509.75
Payments made before Scheme Effective Date (2) £2,371.50
8% Compensation on payments made after Scheme Effective Date (3) £601.48
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £120.30
Total Refund Value (1+2+3 minus 4) £10,362.43
I would assume that the total refund at .17p of the £12,938.74. Amigo defended x 2 £10k loans. I wonder if there is any point in appealing these? I am happy that just the loan is now cleared really and no more payments to them.
Many thanks for your advice over the years on this portal.
Derek
Sara (Debt Camel) says
how long did the first two loans run for?
Del boy Elder says
Hi Sara I had 3 loans, my outcome has ended up seeing me get, £1179.00 in full.
I was also told that I had £9000 still outstanding on loan, after they have taken that they say there is £7438.99 that I will get paid in the £. I took out loan in 2016 and had breathing space through it from 2018.
Do you think this seems rite.
Sara (Debt Camel) says
how much have you paid to this last loan?
Del boy Elder says
Hi Sara, after looking over everything I am happy with outcome….. loans gone, they owe me £2400.00 £1100.00 too be paid in next few days and rest in 4-6 months… I don’t wish too take it any further as it has taken too long too get too this point.
Thankyou for your help through this process.
I hope everyone gets the rite decision.
Mark edn says
Finally not in the 1% club….
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 £5,924.00 due to Amigo and means you have a Scheme Cash Claim for the balance of £6,300.37.
Interest Refund Fee Refund Reinstated Interest Non-Affordability Redress
£15,819.77 £0.00 £0.00 £30.00
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £3,957.25
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £351.20
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £70.24
Total Refund Value (1+2+3 minus 4) £4,238.21
Does this sound right?
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £4238 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Claim Cash of £6300, so roughly £1,070
I can’t see anything wrong with the numbers.
Mike says
Hi Sara, I received my outcome back at the end of January. The way they did it and worded was as though they just copied my first outcome from 2 years ago. Upheld 3 loans and declined 2 of them. My dispute was with one of the loans which was the 2nd last one they randomly said was affordable. Anyways, I re sent my evidence and appealed the decision. Are they looking at appeals yet as there’s no way to know they will look at it etc.
With that one loan I have contested it’s the difference in owning them £1,800 or them owing me £1000 due to an extortionate unpaid interest charge they added on.
Sara (Debt Camel) says
Some people are getting decisions on appeals.
Sean Brooker says
I didn’t make any payments after the scheme date, so I’m not entitled to a full refund of any type.
All my claims were upheld, remaining balance paid off and a cash value of 14600. I feel happy to have a resolve, but to get only 2.5k of this back is hard to take.
Chantelle says
Hi Sara,
Could you please help me work out what mine is as I’m completely clueless with this.
So am I entitled to anything wasn’t sure as have a balance outstanding with them.
Loan 1 – Agreement 44850351
Date of payout 07/12/2018
Amount borrowed £2,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £371.45
8% compensation £0.00
Claim value £371.45
Loan 2 – Agreement 48032934
Date of payout 22/05/2019
Amount borrowed £5,000.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £3,782.20
8% compensation £60.71
Non-Affordability claim value £30.00
Claim value £3,842.92
But then also says this –
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 £1,951.60 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,292.76
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Claim Cash of £2292, so roughly £390
Chantelle says
Thank you so much for confirming 😊
Daryl says
FINALLY!! Sara, sorry to be a pain but can you please look over both outcomes and explain what I am due to receive:
I believe Loan 1 is at 17% then Loan 2 is FULL PAYMENT of the Set Off refunds and 17% of the Claim Value? They also mention using part of it to pay off my outstanding balance.
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 £3,557.25 and means you have a Scheme Cash Claim for the balance of £3,301.37. 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.
Total Agreement Set Off Refunds
Refund value: £7,114.50
8% compensation: £400.05
8% compensation tax: £80.01
You have an outstanding refund of £7,434.54
Loan 1:
Agreement claim values
Interest waived: £2,887.96
Fee refund: £0.00
Reinstated interest: £0.00
8% compensation: £0.00
Non-Affordability claim value: £30.00
Claim value: £2,887.96
Loan 2:
Agreement claim values
Interest waived: £13,715.00
Fee refund: £0.00
Reinstated interest: £0.00
8% compensation: £228.12
Claim value: £13,943.13
Agreement set off refunds
Refund of payments made: £7,114.50
8% compensation: £400.05
8% compensation tax: £80.01
Claim value: £7,434.54
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £7434 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £3301, so roughly £560
BUT the two loan claim values add up to 16,830. However you are only getting a balance of 3557 cleared, a set off refund of 7434 and a scheme cash claim of 3301. They add up to 14,292, so there is about £2,500 missing…
if your guarantor made payments of that amount, it would account for it. If not, phone Amigo up and ask about the numbers as they don’t look right.
Daryl says
Thanks Sara. I don’t believe my Guarantor ever made payments so I will call them up.
Daryl says
So I rang Amigo, and because for the 1st Loan, my Guarantor settled the loan, that is why that £2,500 is missing. Bit annoying as the 1st loan, I ended it within 6 months of getting it as my Dad used his pension to clear it and I paid him back at a much smaller rate. But because of that, it goes against me. Oh well, I’m getting the Full Refund Payments which is the main bit I wanted. Appreciate all the help Sara and when I get payment I’ll drop a message so people are aware they are happening.
Dean says
Is today the day where someone will say they’ve got an email or a payment? I doubt it, but here’s hoping for a miracle.
Good luck everyone. Thanks to Sara for all the info, and fingers crossed we all manage to avoid vile companies like Amigo in the future, and things have already, or are starting to improve for us all.
Gemma says
Hi All fellow Amigo hostages!
I called them yesterday and complained about how long this has taken, outcome still Outstanding etc and as if by magic I’ve today received my fully upheld decision!
So for those of you still waiting (like I was yesterday) might be worth giving them a call, tell them you want to make a complaint and see if this gives them a little push.
Mine might have been a coincidence, but I don’t believe in them :-D
Sara (Debt Camel) says
several people have reported decsions today – I think another big batch has gone out.
Daryl says
Funnily enough, I sent a bit of a crappy email to them yesterday, and got an email this morning saying “it will come soon” – and then it arrived this afternoon.
Louisa says
Good to know! Ive just emailed them chasing my decision up as I’m one of the ones who put their claim in back in 2020 and got an FOS recommendation in my favour which they subsequently ignored. Therefore should have had a full refund before the scheme and am now looking at getting pennies lol.
lsa says
Hi Sara
Finally got my outcomw today, so relieved it’s over.
Do you know if anyone has received payment. I’m. Not banking on anything untilin my account but do you defo think we will get what they say?
DH says
Breakdown of agreement(s)
Date of payout 28/03/2013
Amount borrowed £4,400.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £1,244.37
Fee refund £400.00
8% compensation £1,110.22
Non-Affordability claim value £30.00
Claim value £2,754.59
Date of payout 23/02/2016
Amount borrowed £7,500.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £3,095.20
Fee refund £0.00
8% compensation £0.00
Claim value £3,095.20
Date of payout 15/03/2017
Amount borrowed £8,500.00
Your party type Borrower
Outcome Upheld
Agreement claim values
Interest waived £11,657.60
Fee refund £0.00
8% compensation £1,039.23
Claim value £12,696.84
I received this today. Any help is appreciated dated.
Thanks
Sara (Debt Camel) says
is there a line somewhere that says Total Cash Claim Value or Scheme Cash Claim ?
did you only have the three loans? or were there any other loans no upheld?
Is there a box somewhere that says Total Refund Value (1+2+3 minus 4) ? or Set off redunds?
DH 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 £2,086.63 due to Amigo and means you have a Scheme Cash Claim for the balance of £8,162.63.
Yes, I only had 3 loans. I can’t see any other box with Total Refund Value. Somehow I seem to have accepted the outcome while looking for this info. I now can’t get any info on the portal.
Sara (Debt Camel) says
So something is missing here.
On those numbers you will get your balance has been cleared.
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £8162, so roughly £1390
BUT the sum of the three claim values is 18545. Which is more than £8000 more than the balance cleared plus the Schene Cash claim…
This could be because you have a large refund “in full” also due. Or did your guarantor make any very large payments?
I think you need to query this with Amigo – phone them up and say you did not mean to accept because you are not wure what is being offered.
DH says
11305699 £4,400.00 36 28/03/2013
29574744 £7,500.00 48 23/02/2016
35678886 £8,500.00 60 15/03/2017
Interest Refund Fee Refund Reinstated Interest Non-Affordability Redress
£15,997.17 £400.00 £0.00 £30.00
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 £2,086.63 due to Amigo and means you have a Scheme Cash Claim for the balance of £8,162.63.
Iv had a look back my email and these are all the figures, does that make more sense?
Sorry for the confusion.
Sara (Debt Camel) says
Well the numbers are a bit different mut there still seems to be a lot of money “missing”
What should happen is that the interest refund plus fee refund (15997 + 400) should be divided up between into clearing the balance (2086), any refund “in full” (you dont seem to have one) and the rest should be the Scheme cash claim (8162). ( Very roughly as the 8% calcs are weird and mess up the exact sums. )
but 15997 + 400 = 16397
and 2086 + 8162 only equals 10246… si where has the other £6,000 gone???
Unless your guarantor made a lot of payments you need to talk to Amigo as those numbers do not look right and you should be getting a more
Sonia says
Hi Sara
Wondering if you could help me due to my health problems I find it hard to understand things. So I got this letter from Amigo today I don’t know if I should escalate it or accept-
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 £3,822.37 and means you have a Scheme Cash Claim for the balance of £5,227.81.
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
£1,533.00 £80.40 £16.08
You have an outstanding refund of £1,597.32
Borrowed £5,000.00
Agreement claim values
Interest waived Fee refund Reinstated interest 8% compensation
Claim value
Accept
£370.40??
Borrowed £7,500.00
Claim value £10,255.78
Claim value £ £1,597.32
Sara (Debt Camel) says
based on those numbers, your balance has been cleared.
ALSO
You will get £1,597 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £5,227, so roughly £890
I cant tell whether those numbers are all right. how many loams did you have?
Sonia says
Hi Sara
I had two loans one was paid in full and the other had an outstanding balance
Sonia says
Hi Sara, This is the letter they sent me I had two loans one paid in full and the other had a balance. Do I accept there offer?
Date of payout 01/11/2016
Amount borrowed £5,000.00
Outcome Upheld
Agreement claim values
Interest waived £370.40
Fee refund £0.00
8% compensation £0.00
Claim value £370.40
Claim 2-
Date of payout 06/01/2017
Amount borrowed £7,500.00
Outcome Upheld
Agreement claim values
Interest waived £9,458.45
Fee refund £0.00
8% compensation £797.33
Non-Affordability claim value £30.00
Claim value £10,255.78
Agreement set off refunds
Refund of payments made £1,533.00
8% compensation £80.40
8% compensation tax £16.08
Claim value £1,597.32
Sara (Debt Camel) says
then the numbers look ok to me.
Sonia says
Thank you so much Sara I now need to wait for TFS loans to sort it out x
Amanda says
Hi Sara, I have received a letter from Amigo saying that my loan is upheld does thatcmean they will pay off my loan. Also they said I will recieve 3, 400 but at the end of the letter it says 30 pound for redness. A
Sara (Debt Camel) says
Can you copy in the numbers here?
Chris says
Hi Sara,
Finally received my outcome today.
The email states I have a cash claim value £971.35 then further in the email I have a total refund value (1+2+3-4) of 1304.32.
Am I correct in thinking I will get 17p per £ of the 971.35 then the 1304.32 in full?
Thanks for your help!
Sara (Debt Camel) says
Yes!
Laura says
Has anyone on here received a refund email this week? Or even the cash for those who did receive the email last week
Derek P Hanway says
Hi Sara
Ive been informed of otal Refund Value (1+2+3 minus 4) £10,362.43
this is separate to a “you have a Scheme Cash Claim for the balance of £12,938.74”. which is the .17p in the pound I imagine. Is the £10,362.43 a full paid?
thanks
Derek
Sara (Debt Camel) says
Yes it is seperate
Syed says
Hi Sara,
Finally received my outcome today, please could you help and advise what do I get from this outcome.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved Outcome Reached For This Agreement
21552508 £2,000.00 36 03/12/2014 Defended
30009973 £4,000.00 60 10/10/2016 Upheld
37128152 £10,000.00 60 14/07/2017 Upheld
Interest Refund Fee Refund Reinstated Interest Non-Affordability Redress
£14,981.01 £0.00 £0.00 £30.00
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 £2,761.75 due to Amigo and means you have a Scheme Cash Claim for the balance of £8,611.77.
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) £2,960.00
Payments made before Scheme Effective Date (2) £840.00
8% Compensation on payments made after Scheme Effective Date (3) £151.92
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £30.38
Total Refund Value (1+2+3 minus 4) £3,921.54
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £3,921 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £8611, so roughly £1,460
Syed says
Thank you very much for your help Sara.
Andy says
The people who have had a refund, did they get notified when the money went in ? If so how, by email,letter or phone call.
Sara (Debt Camel) says
Almost no one has he a refund so far.
Elizabeth says
Have there been any confirmed refunds processed yet?
lsa says
Hi Sara
Do you actually think we will get any money, I remember you said in one of the posts with amigos credit record they might not be able to issues a lot of payments at any one time (or something along those lines) we now a week into March and I can’t see anyone on line who has actually recieved any money? You have also said they gain nothing from. Holding it in the bank. So what are they playing at surely it’s not just bad management. They must have some reason do you not think?
Sara (Debt Camel) says
yes, you will be paid. When I do not know.
Andrew says
spoken with amigo this morning and was told that payments have been getting sent out to customers and it did start the last week in February. I was told there is no set process on how they choose who gets there payments first i.e – alphabetically etc so it sounds like it’s just pot luck? I was told these Total Refund Value payments will continue to be paid out daily and through the coming weeks in March.
I did however question if Amigo had committed to making these TRV payments in March and not letting it run into April/May etc but the person I spoke with was very honest and said they have little information and receive very little updates from Amigos themselves (no surprise there)
would be good if anyone who has been paid out let’s us all know so we can gauge if all this waffle is just more delaying tactics.
👎🏼 to Amigo 🤢
Lamar says
After speaking to Amigo via telephone this morning they confirmed that the payment process started last week Thursday and that payments are being processed everyday. However, they were unable to provide me with a specific time frame for when I should expect a refund for my case. They just advised that I will receive an automated email once payment has been processed. Like a remittance advice
Bonita says
I called Amigo yesterday and was told the same waffle
L says
I’ve called, emailed, checked! Nothing. I’m in the same position as Louisa, whereby I had my loans upheld by ombudsman, but Amigo didn’t pay out. Let’s all wish on the New Moon on sat that we get our upheld decisions by Monday! 🤭 I’m actually pretty serious. Ha. Sway these bumballs into paying!
Lamar says
Someone has finally confirmed payment!!!!!
Someone on the Facebook page provided a screenshot of an email from amigo confirming processing of payment and that they should expect to receive payment in 3 working days. This was sent on 29/02/2024, they confirmed payment has credited their account.
Hopefully we get an update soon for our own cases.
Rachel says
Hi I have been told that I have a pence in the pound” amount awarded and a “refund in full amount” I’m just a little confused as to when they are paying out as they told me they have started already and as they are manual it could take time. How often do they send out the refunds in full” ? Daily, weekly etc.
Lamar says
They have started sending full refunds out daily. % refunds will be sent later this year
JayJ says
My claim has been upheld in full but I’m struggling to grasp what I’m actually going to be receiving so any help would be appreciated.
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 £1,117.47 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,140.53.
Total Refund Value (1+2+3 minus 4) – £4,517.67
So I think I understand that the £2140.53 will be at the 17% and the £4517.67 will be paid in full. But there is also an apprentices chart thing with all my loans then these at the bottom,
Interest Refund – £9,197.87
Fee Refund – £0
Reinstated Interest – £0
Non-Affordability Redress – £30
Will I get any of the Interest Refund?
As I said anything you can tell me with what ive provided would be so helpful
Sara (Debt Camel) says
So I think I understand that the £2140.53 will be at the 17% and the £4517.67 will be paid in full.
Based on those numbers, yes.
Will I get any of the Interest Refund?
no, that is just an intermediate step in the calculations.
BUT the 9197 Interest refund is larger than 1117 + 4517 + 2140. By about £1,400.
The common reason for this is that your guarantor made payments of about that amount. If they didn’t, Amigo may have made a mistake… and you should phone them up and ask them.
Aj says
Hi Sara, you may recall I mentioned in this chat that:
– in September 2023 Amigo rejected my claim and I escalated my claim to the adjudicator;
– in December 2023 the Adjudicator found in my favour and upheld my claim.
– in December 2023 Amigo told me that I should their decision by March 2024.
I emailed Amigo yesterday for an update. Amigo replied today:
“Where claims are not agreed and are referred to the Scheme Adjudicator, we now estimate that most final determinations will be made by the end of May 2024.”
I am totally lost for words with their response. In my email to Amigo, I made it clear that the Adjudicator had already made a decision and upheld my claim. As such, to say “where claims are not agreed and are referred to the Adjudicator” is a completely incorrect.
The adjudicator’s letter stated that I could take this matter to the Financial Ombudsman within 6 months of their decision. This means I have till 07 May 2024.
By delaying it and telling me that Amigo will not confirm it’s decision till May 2024, Amigo is trying to put me in a position of compromise whereby I miss the deadline to take this matter to the Financial Ombudsman.
My loan was for £9k to be paid over 5 year. The 5 year will end in August 2024 and Amigo continues to take monthly payments from me – I think the outstanding balance is about £2k.
What can I do?
Sara (Debt Camel) says
So you appealed one or more loans and the Scheme adjudicator has upheld them? But Amigo has not yet reworked the decision?
Aj says
I only took out one loan for £9k in 2019. I made an affordability complaint in February 2020 which Amigo failed to deal with.
When I made a claim under the Scheme, Amigo rejected it and I escalated it to the Adjudicator. The Adjudicator found in my favour and in their decision letter they said their determination was final and that their involvement ends here and that Amigo would write to me confirming redress.
In Amigo’s second email to me today, they said:
“Whilst we have confirmed the Scheme Adjudicators decision, they have not sent your final letter yet. This is what you are awaiting on. This letter will outline redress amounts”.
That’s not correct because The Adjudicator’s letter clearly said its Amigo who should issue me with a letter confirming redress.
Amigo is trying to mislead me by saying that I am to wait for a final letter from the Adjudicator.
Sara (Debt Camel) says
Go back to Amigo and point out what your letter says. Ask to speak to a manager.
Benjamin says
For those who are low on hope I today received written confirmation from a senior Amigo manager that my mother’s refund has been scheduled to go out from their bank account tomorrow. I was told it takes 1-3 days to arrive.
“I’ve looked into this matter myself and can confirm that the payment for your mother is scheduled and will be leaving our bank account tomorrow. Once this payment is released we will send an email to confirm for you.
These payments can clear anywhere between 1-3 days”
The amount is around £1750 and she received her outcome Jan 30th 2024.
I know a few on facebook have posted very low refunds having been paid but this is the first 4 figure one I have seen.
Good luck all those still waiting. I will post when received.
Becky says
Hi Sarah
thank you for all your support.
If you could take a look at mine and see what you think I’d be extremely grateful.
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 £4,526.74 due to Amigo and means you have a Scheme Cash Claim for the balance of £446.91.
Amigo Loan Agreement No
41959401 £9,000.00 60 21/05/2018
46517031 £10,000.00 60 06/03/2019
Interest Refund Fee Refund Reinstated Interest Non-Affordability Redress
£9,378.20 £0.00 £0.00 £30.00
Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £4,526.74 due to Amigo and means you have a Scheme Cash Claim for the balance of £ £446.91
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
(1) £3,265.77
(2) £1,053.33
3) £207.82
4 £41.56
Total Refund Value (1+2+3 minus 4) £4,485.36
Thank you so much
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £4485 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £446, so roughly £75
Fiona says
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £395.25
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £49.13
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £9.83
Total Refund Value (1+2+3 minus 4) £434.55
Is this what I am get back
Sara (Debt Camel) says
You will get £434.55 refunded in full.
BUT do you also have any numbers on your decision called something like Total Cash Claim Value or Scheme Cash Claim ?
Fiona says
Cash Claim Value £17,286.23
8% Compensation £2,773.91
Total Cash Claim Value £20,060.14
Sara (Debt Camel) says
ah! In addition to that “in full” refund, you will also get paid a percentage, probably about 17%, of the Total Cas Claim Value of 20060, so roughly £3,400.
Fiona says
Thank you for your help
Becky says
Hi Sarah please can you help me? I really don’t understand my reply from
.
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 £11,966.53 due to Amigo and means you have a Scheme Cash Claim for the balance of £30.67.
Interest Refund Fee Refund Reinstated Interest Non-Affordability Redress
£17,067.99 £0.00 £0.00 £30.00
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 £11,966.53 due to Amigo and means you have a Scheme Cash Claim for the balance of £30.67.
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £4,980.00
Payments made before Scheme Effective Date (2) £121.46
8% Compensation on payments made after Scheme Effective Date (3) £334.66
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £66.93
Total Refund Value (1+2+3 minus 4) £5,369.19
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £5,269 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £30, so roughly £5
Jane says
Hi sara any advice ive received my legacy outcome all they have done is wipe £2.224 of a £7.789 that was on my balance on my portal im left with 5k total to pay which will be passed to a debt collection i dont agree with the amount as it should be less then 2k i dont know what to do been told i cant escalate as i dont have a scheme claim
Sara (Debt Camel) says
so you didn’t make a claim to the scheme?
did your guarantor?
what is the rest of your financial situation like – do you have other problem debts?
Jane says
No i thought i did but yes guarantor has been released of any liability just some small debt CC and buy now pay laters amigos was the most problematic
Sara (Debt Camel) says
So did your guarantor make a claim? I am uncleasr whay your guarantor has been released.
“i dont agree with the amount as it should be less then 2k”
why do you think the 5k debt is wrong?
As there is no longer a guarantor for this debt, it is just like any other debt. You can put them all, including the BNPL into a debt management plan with StepChange. Or if you can afford to pay very little to them, you may qualify for a debt releief order. Talk to StepChange about your options: https://www.stepchange.org/debt-info/debt-management-plan.aspx
Jane says
Yes guarantor made a claim and hers was upheld and along with a cash refund i did not make one but i thought i did the reason i think balance is incorrect because out of the 10k loan 8.5k was already paid back so if upheld no interest should of been added or am i wrong in that thankyou again sara and yes i will look into that as i simply cant afford to pay that
Sara (Debt Camel) says
Ask them for an account for the debt. This may be because of the refund to your guarantor. A debt solution may well be your best option and taking into account all the other small debts as well
Jane says
Ahh i see thankyou for that clarity makes sense now really helpful and yes i will go ahead with that
Neve says
Hi Sara,
Hoping you can help me make sense of this. My mum was my guarantor and made a complaint to the scheme and has had her reply. They upheld all loans and gave these figures:
Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved |
| £2,500.00 | 36 | 07/07/2017 |
|| £4,000.00 | 36 | 08/08/2017 |
| | £10,000.00 | 60 | 06/10/2017 |
|| £6,250.00 | 48 | 31/01/2018 |
| £10,000.00 | 60 | 18/05/2018 |
| Guarantor Total Payments | £11,608.19 |
| 8% Compensation | £3,306.32 |
| Total Cash Claim Value | £14,914.51 |
Does this mean she will receive 17% of the total cash claim? I haven’t had any outcome yet but guessing will go to her as she made some payments and ultimately paid it off in her name with me paying her back directly. Should I be concerned that I haven’t had an outcome yet? Any help/guidance appreciated!
Sara (Debt Camel) says
Yes she will get about 17% of that 14914.
You are very likely to get little or nothing I am afraid
Becca says
Hi Sara,
I have a upheld response but my wording looks different as it doesn’t list the 8% nor give the 1+2-3 scenario
Mine 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 £5,689.17 due to Amigo and means you have a Scheme Cash Claim for the balance of £5,492.33.
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.
Will the scheme refund amount get 8% added? I’m confused as to why mine is a tad different?
Sara (Debt Camel) says
when was your last payment to Amigo?
Becca says
November 2021 – they offered me ESO shortly after as had been waiting months for a complaint outcome
Sara (Debt Camel) says
The Scheme Cash Calim Value should already contain an 8% interest that they have calculated. If there are no figures in what you have been sent, ask them about this.
Steveo says
Hi Sara, not sure if this right, please can you help.
| Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved |
| 49383919 | £4,000.00 | 36 | 26/07/2019 |
| Interest Refund | Fee Refund | Reinstated Interest | Total Borrower Refund |
| £3,025.76 | £0.00 | £0.00 | £3,025.76 |
| Cash Claim Value | £2,440.28 |
| 8% Compensation | £106.37 |
| Non-affordability redress | £30.00 |
| Total Cash Claim Value | £2,576.65 |
Total Borrower Refund = The interest and fees owed to you, once the Loan Amount has been paid.
Cash Claim Value = The Total Borrower Refund less any loan payments paid directly by your guarantor.
Total Cash Claim Value = Cash Claim Value + 8% interest as compensation + Non-Affordability redress
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full, and will be as a pence in the pound payment. Confirmation of this will be sent to you, later this year, once all claims have been decisioned.
| Refund Type | Refund Amount |
| Payments made after Scheme Effective Date (1) | £585.48 |
| Payments made before Scheme Effective Date (2) | £0.00 |
| 8% Compensation on payments made after Scheme Effective Date (3) | £65.13 |
| 8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) | £13.02 |
| Total Refund Value (1+2+3 minus 4) | £637.59 |
Sara (Debt Camel) says
On those numbers, You will get £637 repaid IN FULL for recent payments you have made
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Total Cash Claim Value of £2576, so roughly £440
Steveo says
Thank you, Sara for your quick response!!