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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
G says
Hi, my FRL dated 05/01/24 detailed the following:
Appendices
| Amigo Loan Agreement No. | Loan Amount | Loan Term | Date Loan Approved |
| ZGD7937361 | £5,500.00 | 36 | 16/03/2012 |
| 11727684 | £5,000.00 | 60 | 02/05/2013 |
| 24257492 | £7,000.00 | 60 | 27/03/2015 |
| 31641999 | £7,500.00 | 60 | 27/10/2016 |
| 38652614 | £9,000.00 | 60 | 27/10/2017 |
| 41002144 | £10,000.00 | 60 | 22/03/2018 |
| Interest Refund | Fee Refund | Reinstated Interest | Total Borrower Refund |
| £28,431.30 | £500.00 | £0.00 | £28,931.30 |
| Cash Claim Value | £24,978.80 |
| 8% Compensation | £8,991.72 |
| Total Cash Claim Value | £33,970.52 |
| Refund Type | Refund Amount |
| Payments made after Scheme Effective Date (1) | £3,952.50 |
| Payments made before Scheme Effective Date (2) | £0.00 |
| 8% Compensation on payments made after Scheme Effective Date (3) | £354.06 |
| 8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) | £70.81 |
| Total Refund Value (1+2+3 minus 4) | £4,235.75 |
Am I right to assume that I’ll get the £4,235.75 by the end of March (going by their timetable), and a percentage of the rest at a later date?
Sara (Debt Camel) says
from those figures it looks as though you did not get a balance written off?
If that is the case then according to their timetable yesterday, then the £4235 should be paid by the end of the month. But don’t make firm plans until the money is in your account!
G says
Thanks Sara, all my loans were paid in full so nothing to be written off. I suppose I’ll just wait and see if I get anything by end of March.
Natasha says
My balance shows as settled on my credit score and since then my credit score has made significant improvements. I’ve been able to get a phone and a car in my own name for the first time in my life. My guarantor, who has never made a payment for me, had also been told she is released. I know these are all positive signs BUT, I will not believe it until I see that settlement letter with the words “upheld”. I am utterly disgusted with yesterday’s update. I cannot believe what they are doing to us. I raised my complaint via resolver on 23/12/2020 – still waiting on a response. I have now scheduled emails to them for every single day with an updated tally how how many days it’s been since I complained and asked for an update. It won’t get me any further, and it is childish, but it makes me feel better knowing I am harassing them with daily emails the same way they harassed me daily for years.
Louisa says
I’m here for this level of pettiness 😂 I hope we get our responses soon. I’ve noticed one of my closed loans has gone off my credit file, the first one I took out so I’m hoping that’s a good sign 🤞🏼
A says
Hi Sara, I received my email with outcome in January with a refund of 8,000 and a percentage of about 800. I had an outstanding amount 750, which Amigo stated will be paid off. Does this mean that I may possibly be lucky to receive the refund by end of march? Or does it have to go through a process? Taking note that Amigo confirmed my refund amount and percentage.
Thanks
Sara (Debt Camel) says
I suspect you will be in the later group, but Amigo haven’t yet clarified what their definition of “live loan” is
Bobby Jones says
Has anyone heard their outcome whose loan was sold to Intrum?Do you think they are leaving our outcomes to the very,very end?n
Lisa Gallagher says
I was a guarantor on a loan that was sold to Intrum, the borrower never paid a thing towards the loan and it was completely unaffordable for me so it had to pay it via Step Change and I’ve still not had an outcome.
Bobby Jones says
Hi Lisa I was in the same predicament as you I hope and pray we hear soon and our nightmare ends.My repayments to Intrum stand at at £20 a month I keep on ignoring there yearly review emails and text messages.
Mark says
Hi Lisa and Bobby,
My loan was also sold to intrum and also went through step change. When I had paid the interest off it went back to amigo… and then I was paying amigo through step change. I’m still waiting as well so I’m guessing ours are the more complicated ones.
Bobby Jones says
Hi Mark fingers crossed our outcomes will come soon.
Jean says
Hi, ours was sold to interum who ended up putting a charge on our house. Thankfully I’ve paid this off now however I am in that last percentage of people to yet hear anything despite me emailing monthly for an update!
Josh says
I had my decision in December but I check back here all the time to see what’s going on and I’m always surprised how they manage to miss their target.
Quite impressive at this point – time must feel like it’s dragging for that 9%.
Frank says
Your not wrong josh
My guarantor had theirs upheld in Dec. However I am still waiting.
Paul walklett says
Hi Sara,
Not sure if u get much of this but thank you for all your advise and help with all this nonsense that’s going on. Your knowledge has been vital to a lot of people and I’m not sure you’ve ever been given the thanks you deserve. I haven’t got my response yet but I would be honoured, if I get any money back, to give you some for everything you have done on the web page
Sara (Debt Camel) says
A small donation to your local Citizens Advce would be lovely.
Maureen Walton says
Would it not have been easier to refund the total refunds not redress payments as and when a decision was reached. They now have to go through all the claims due a refund in order to release the money doesn’t that double up the work involved.
Sara (Debt Camel) says
There isn’t much point in talking about how the Amigo process could have been more efficient…
Darren smith says
Hello everyone your advice has kept me going since receiving my outcome on 7/12/23 but that’s all I heard from them.Im lucky enough to have paid mine off last may .But my claim has been upheld so waiting on refund and divvy payments.But it’s drove up the wall all the messing about they’ve done.But had a thought yesterday with Easter early this year and refund payments to be made by end of this month this means technically they have based on working a mon – Fri which they do,they only have 9 working days left to payout as 29th March is the start of Easter hols/bank holiday same goes for 1/4/24 and as closing down hardly think they are going to pay staff enhanced hours to meet a deadline.Ive also been reading other blogs that people who accepted later than myself for example and been paid out.I fired up and banged out a few emails out complaining of unfair selection and asked for reason(s) behind this.Yet to receive a reply so ended all my emails with looking forward to your reply or better still my payment release email..Bet I’m the last to paid out now as I’ve rattled the cage. Kind regard Darren
Sara (Debt Camel) says
Bet your email won’t make any difference at all. Some poor person has the job of sending replies to this sort of query and they have no control over when people get paid.
Terry Hyson says
This is what I have received from
Do we know by there timeliness when it will be paid?
Is it now part of the payments put back until May/June
Thank you as always
Terry
Thank you for your email.
What’s due to you is the: Total Cash Claim Value of £12,845.62 – which is subject to the ‘pence in the pound’ dividend payment. The current estimate for this is 17p for every £1 quoted. The dividend payment will be confirmed at a later date and cannot be negotiated. It will be paid in two instalments; the first one we expect to process around the April/May time and the second one will be 6-9 months later, around the time we enter liquidation. I’m sorry I can’t confirm an exact amount at this time, but as an example, if the Total Cash Claim Value was quoted as £1000, you are likely to receive a final payment of £170.
We don’t have any information on how much the first instalments will be or what date to expect it but this will be communicated closer to the time. It’s a manual process so we ask customer’s to be patient with us during this time.
As soon as there is an update on your individual payment, you will be the first to know. We unfortunately don’t have any visibility over this and are therefore unable to provide any specific updates on your claim.
I hope this helps!
Kind regards,
Louise
Scheme Support Team
Amigo Loans
Sara (Debt Camel) says
Yes, April/May (although the latest scheme update gave them wiggle room to make some in June)
Peter says
Hi, I’m trying to work out how much I’ll get back but I’m getting confused. Is there two amounts? For example the pence to the pound refund In relation to the ‘ Total Cash Claim Value’ box and another in relation to the ‘ Total Refund Value (1+2+3 minus 4)’ box? Just trying to work out what I’m getting and not anticipating the wrong amount. Thanks
Sara (Debt Camel) says
I wish Amigo’s communications were clearer!
the pence to the pound refund In relation to the ‘ Total Cash Claim Value’ box
yes, it is currently expected you will get about 17% of the Total Cash Claim Value
and another in relation to the ‘ Total Refund Value (1+2+3 minus 4)’ box?
that is an “in full” refund – you get it all, not a percentage
Peter says
Thanks so much! You’ve probably had to clarify that so many times and I thought that was the case, just wanted to make 100% sure.
Mine read as
Total Cash Claim Value £2,489.31
(Roughly 423)
And
Total Refund Value (1+2+3 minus 4) £1,377.24
Which would help massively
Darren smith says
Thanks for your reply Sarah, all I can say is we are nearly all there folks if my calculations are right we are in 91% so only another 9% and the end is near.My refund value alone is £5762 just what I need to get what I want for the house with a few spare pennies for myself.Happily give up my divvy payment if it meant someone else would benefit from it.Im fortunate enough to be finically sorted these days.But there are people out there relying on these payments to sort themselves out or put food on table,shoes and clothes on their bairns.But same as me struggled at times or all the time to repay these loans.Its also funny now they owe us their stalling.I remembered if I’d missed a payment they’d set the hounds free contacting myself and my guarantor at the same time depending payment.Tables are finally turning and I’ve certainly learned my lesson. Just remember everyone we are nearly there.!!.Now we are rinsing them and their nearly ready to put out on the line Kind regards Darren
No name says
Count yourself lucky you have received your outcome. Many of us haven’t yet so think of us
Louisa says
I’m fed up of checking every day only to see the same ‘you have not yet received an frl” 🙄 I’m not even going to get much back IF they uphold my claim I just want it over and done with now.
L72 says
Same here!! Makes me laugh there was no order of how they dealt with claims but have a selection of complex ones till last? Honestly just send me my letter so I can relax!!
Louisa says
T Mines not complex they already upheld my first 2 loans back in feb 2021 and the fos upheld my 3rd when I rejected their decision to only uphold the first 2 so they can stuff their “complex claims” 🤣
Samantha Ramage says
Hi, could you help please? I’ve no idea when I should be getting paid. Am I classed as this month sometime (hopefully) or April may?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
37940160 £500.00 12 08/09/2017
39761265 £2,250.00 36 02/01/2018
41168367 £3,250.00 36 04/04/2018
42400432 £5,000.00 60 21/06/2018
44754555 £7,500.00 36 04/12/2018
49100993 £9,750.00 60 12/07/2019
Guarantor Total Payments £11,208.25
8% Compensation £1,678.43
Total Cash Claim Value £12,886.68
Sara (Debt Camel) says
The only payments this month are “in full” payments. From what you said before, none of your payments qualify for that.
You will be getting a percentage, probably about 17%, of the Total Cash Claim Value. Amigo hopes to pay the first instalment of this will been in April/May.
James says
So it will take 8 days to do the 4% from 91% to 95% but over 3 weeks to do the final 5% !!!!!
The whole process has been an absolute farce, hope those in charge never get a similar position ever again.
Move the goalposts, then a little further and further and further
Ryan Moore says
Why are they being allowed by the FCA and FOS to keep delaying and delaying. Its not acceptable. I Made my complaint on 13.12.2020 and still we wait and still the fob people off with lame pathetic excuses and lies. The adjudicator overtuned my complaint at the begining of Feb and still we have to wait for them to get their act together. Its becoming a joke
Sara (Debt Camel) says
FOS has no right to say anything – they cant take complaints about Schemes and have no function apart from dealing with complaints.
the FCA – well in theory Amigo are authorised. But the FCA may be taking the practical view that nothing they do will speed things up and may only delay them… I am sorry but the problem at Amigo results i think from a combination of very poor planning and deciding to handle complaints in a very complex way. Not something that is easily resolved now when they have probably let too many IT and customer service staff go – it isnt easy or quick to try to recruit and bring new people up to speed.
Fran says
Hi,
I received my response on the 5th of February, so not before the 1st 🙄 I’m due a full refund, do you think it’s still possible to get my money this month or is it completely out of the question now?
Sara (Debt Camel) says
Anything could happen in theory. But that isn’t what their new timetable says you will be paid.
You should not base any plans on being paid this month, it seems very unlikely.
Aden says
Hi
It is now mid march and I have not had anything from Amigo since I had the letter from the adjudicator to say my complaint was upheld.
I not sure there is a lot I can do to chase this up.
Lamar says
Has anyone who is due a full refund received a different or been quoted a different amount that was stated on their final decision letter?
I just called amigo regarding my case and asked to confirm my full refund amount, and they quoted nearly £100 more than what the letter stated.
Sara (Debt Camel) says
oh!
In that case you need a new breakdown, so that you know how much deduction for tax on the 8% you can claim back from HMRC
Lamar says
I would advise people who are due a full refund to contact Amigo to confirm their amount because iv just received confirmation that the amount stated on the letter is different to the amount they have on the portal. Lucky for me that the amount they have on the portal and the amount I’m due to receive is higher than the amount quoted on the letter.
Sara (Debt Camel) says
So far no one has reported getting less and quite a few have said they have got more.
Osei says
Is it right for Amigo Loans to use their Adjudicators? This is what l have received from:
“Amigo will refer your claim to the Scheme Adjudicator who will review your claim and decide whether they agree with Amigo’s decision or not. They will not write to you personally. They will forward their final outcome to Amigo who are instructed to pass their outcome on to you. This is what was agreed through the High Court when the Scheme was sanctioned in 2022.”
I think Amigo Loans is trying to cut corners which is illegal.
Please advise.
Sara (Debt Camel) says
That sounds pretty standard to me for a Scheme
Kirsty says
I’ve finally received my payment email today at 3pm. I accepted the decision on 7th December. Keep going people, it seems to be actually happening!
Graeme mcintyre says
Right, so am I right in saying that 17p in the pound people who had their response before February are receiving this payment at end of March? Not late April may as previously stated? Any advice welcome!
Sara (Debt Camel) says
No. The only people getting paid at the moment at the “in full” refunds. The “percentage” refunds are expected to get paid in 2 instalments, the first one being April?may?June.
Graeme says
That’s disgusting! Thanks for advice though x
L says
2030… next millennia.
Margaret King says
Hurry and send my payment email getting pissed off waiting
mandi ANDREWS says
Think we have all waited long enough. should be paying us interest now .
Vicky says
Not holding much hope, is anyone still waiting for a final response, I see lots of people getting paid out now , does this mean I do not have any hope for anything back
Sara (Debt Camel) says
No. There is no reason to think Amigo has left a lot of rejections until last.
L says
Mine was decisioned in January… and STILL waiting!!! Realised this morning, I think they’ve delayed decisions, cos if they’d sent before February 1st, they would have had to pay before March.
Sara (Debt Camel) says
Amigo doesn’t benefit from delaying decisions. Or delaying payouts.
Louise073 says
Me too still waiting on a final response letter,feel like we’re forgotten to be honest.
L72 says
Still waiting too!! No point in ringing them it’s the same jargon “you are being assessed and should receive your letter in a few days!!” That was last week lmao
Vicky says
Definitely feel like we have been forgotten, mine isn’t complexed at all , all I want is a final response letter ,
Vicky says
Just to let you know I have received my FRL today after thinking that I might have been forgotten ,
Steve says
The information kindly provided is very clear based on date of complaint, amount repaid and which category that puts a person into with regards to refund amounts. I myself however, lodged my complaint way back in 2020 before amigoloans were publicly discussing the possibility of a shortfall and any kind of scheme.
I received an offer which was absolutely unacceptable and based on literal fiction (unsurprisingly, I obviously wasn’t expecting their first offer to be their final offer) and as such I rejected that offer and went to the ombudsman for assistance. During the wait for the ombudsman to get back to me, the scheme was announced and the ombudsman informed me they were no longer able to assist due to the change in circumstances and that brings us to present day.
I have not had a final response yet – apparently I am in the circa 9% outstanding – but I hoped someone may be able to shed some light into which percentage group I am likely to end up in due to the fact that my complaint predates any of the groups listed in this information.
Sara (Debt Camel) says
do you still have an open loan? if not, when was it repaid?
Steve says
I made the final payment on my last loan in November 2021. The complaint was lodged in early 2020 but I can’t recall the exact date if that’s important.
Sara (Debt Camel) says
Only payments made after December 2021 can be refunded in full. So your full compensation will be paid at a percentage, currently expected to be 17%
Andrew heywood says
So they could publish their dividends payout decision on 31st may and then commit to all percentage payouts within 30 days? So June 30th? But are still using language like “expect” so still nothing set in stone at all really for percentage payouts.
Sara (Debt Camel) says
that is possible based on what they have published.
Sean says
Hi Sara, I had seven loans with Amigo in total. They upheld the first four but rejected the last three. Just received this today as I appealed the last three by submitting bank statements….
“We are writing to you following your request to escalate the outcome of your claim to our Scheme Adjudicator. Before passing your claim to the Adjudicator, we have re-reviewed our decision and would like to confirm that we have changed the outcome of your claim. After reviewing the information available, alongside your rationale for disputing the outcome, we now feel that your claim should be upheld. We are in the process of calculating any compensation due to you and will issue you with an updated Final Response as soon as possible. Please be assured that we will be back in touch in due course with further updates. Kind regards, Amigo Loans”
Sara (Debt Camel) says
Good news.
Zoe Smith says
I disputed mine they upheld 3 and defended 2 , I had exactly the same email on the 7th of February still awaiting updated final response but very glad I escalated as I should now be due a full refund instead of owing them money
John says
Hi Sara,
Any idea why so many of the refunds being paid are from outcomes from the 7th of December? Was there a massive influx of outcomes that day or something? Frustrating because I had my outcome on 06/12/23.
Sara (Debt Camel) says
yes there were a couple of big batches that went out at that time. But on a Facebook group I have seen other people reporting getting the email saying the refund was on the was from later in December and in January – this is really NOT being done by date order, provided your decision was before February.
Your outcome – did you have a loan that was written off?
John says
Yeah I’ve also seen a lot of other dates. Just seems like the bulk of them are from the 7th so it had me wondering.
No my loan(s) were all paid off some time in 2022. I’m owed nearly 3k in full refunds.
JASON says
I know what you mean, everyone I’ve seen says 7th December. I must be the only one in that batch they haven’t done yet! :)
Vio says
Good news finally. Just got an email from Amigo and they said :
Claim ID: 119065
Dear Viorel
We are contacting you today with an update on the refund due to you, following your claim in Amigo’s Scheme of Arrangement.
As confirmed in your Scheme Outcome Letter, you are eligible for a refund of certain payments made. Your Outcome Letter confirms this amount, and the breakdown in how this was calculated.
This payment has been released today to the bank details you provided in the Scheme Portal and should appear in your bank account within the next 3 working days.
If your Scheme Outcome Letter advised that you also had a Cash Claim within the Scheme, and are eligible for a dividend payment and this will be paid to you in due course. You will receive additional contact from us, confirming when these payments have been processed.
Please remember, it is important to keep your bank details up to date should they change, as if a payment is made to incorrect details supplied by you, we can’t guarantee that we will be able to recover the amounts to repay them to you.
Rachel says
Hi Sara,
I was just looking through all
My paper work and emails to amigo
I made an affordability claim way back in 2020 and was told by them I didn’t have a claim
I went to the ombudsman with it.
Never heard back from them or amigo until they decided to this scheme
I have had my outcome which is upheld
My question is why now am I only entitled to the 17% when I made a claim originally that they said I didn’t have but now in the scheme I DO have a claim?
Sorry I hope this makes sense
Thankyou
Sara (Debt Camel) says
You never had a confirmation from the Ombudsman?
when was your last payment to Amigo?
Rachel says
No reply from the ombudsman just the original rejection from amigo
Unfortunately I paid it all off in full in 2021
Sara (Debt Camel) says
In that case it doesn’t matter when you complained – no payments before December 2021 are being refunded in full
Rachel says
Sorry last payment made was March 2020
Sara (Debt Camel) says
that is before December 2021 – all your refund will be paid at a percentage.
Peter says
New update https://www.amigoscheme.co.uk/
Sara (Debt Camel) says
the only change is that Amigo says it will now be paying people with a decision letter after 1 Feb between mid March (ie now) and the end of May. Before that it said between mid April – end May.
Edwina says
New update 19.03.24
A says
I had my decision back in August which is good, but not great that it’s been a 7 month wait so far for me, and based on the table, it’s looking likely to be 9-10 months before I get anything back! Very frustrating.
Lauren says
Claim rejected in September, appeal and had email from adjudicator on 6th December saying Amigos decision is overturned and my claim is upheld.
Heard nothing from Amigo except to say back in January that there is no time frame for issuing amended letters from appeals.
I’ve chased now but been ignored. Anyone else heard back after a successful appeal?
I’m still being receiving postal letters from Amigo to pay my balance (borrowed 10k have paid 22k and have 4k outstanding) and my credit file still reflects 3 years of missed payments from when I first submitted a claim.
aden says
same here. really fustrating seems like stuck in a hole cant ever get out of. Even if they rejected the claim at least you knew where you stood and can work yourself out. This situation you cant do anything
Luke obrien says
Hi there I am sorry to bother everybody however I am some what confused please may somebody clarify for me please.
Loan amount £5000
60 months
Date approved – 22/1_2020
Interest refund – £3514.75
Fee refund £0
Reinstated interest £0
Non- affordability redress £30
Total borrower refund £3544.75
New loan balance £661.42
Would anybody know what I would get back at all? As I did call up amigo 2 hours ago stating that I have now entered into an IVA and I wanted to make them aware and asked the question would I get any money into my bank at all as I’m in the iva as surely amigo would get my refund whatever that may be even though I am in iva right?
The lady from amigo on the phone also told me to ignore those figures and that I will be getting a separate amount into my account at a later date? But she didn’t sound to convincing so I am so convinced.
Can somebody please clarify this for me please as to what I will be getting and regarding my IVA.
Again I am so sorry to bother people if you could help me out in dummy language for me lol then I would truly truly appreciate this.
Sara (Debt Camel) says
Did you just have the one loan? If so how large much in total have you paid To it? Ignoring any payments made by your guarantor?
Luke obrien says
Hi there,
It was only the one loan thank God.
In total I paid the below amounts.
197.62 x 9 = £1778.58
110 x 1
115 x 20 = £2300
So the total i have paid amigo is £4188..58
My guarantor only made one payment which I paid them back for 1 week later.
Sara (Debt Camel) says
ok so what Amigo are saying is that the loan was unaffordable, they have removed the interest and you now owe a balance of £661.
You agree that you haven’t paid them more than £5k,.
So you won’t be getting any refund at all – the fact you are in an IVA isn’t relevant, there is nothing to be refunded.
Can I do a quick check on the IVA? Do you own any assets you needed to protect in an IVA? how large are the debts that went into it if the Amigo debt is reduced to £661? how much are you paying a month?
Luke obrien says
Ooh okay well that answers that then lol thank you for clarifying this for Ms I do appreciate that.
I don’t have any assets at all no house or car. The debts not including amigo are roughly just over 10,000 give or take and with the amigo added without the refunds taking if the balance it would be £14,000
I will be paying £100 a month towards this iva
Sara (Debt Camel) says
How long ago did you start this IVA ? Did you look at bankruptcy instead?
Joe James says
Can I just ask. I had an email in December advising me they my claim was upheld and a dividend payment was due which is the 17p in the £1 payment. Is that classed as the FRL that amigo talk about on their website or am I waiting for something else?
Sara (Debt Camel) says
That is the FRL. But the date of it doesn’t matter for “percentage payouts”
Vicki says
Anybody know how I would find out when i joined the scheme? My partner escalated his case and amigo have agreed and have now upheld the decision. He made 7 payments after dec 2021 but I’m not sure when he signed up to the scheme? Just trying to work out if he will be due a full refund of just a percentage.
Sara (Debt Camel) says
The scheme started in May 2022. But he may have made a complaint before then? Does he not have any records of making a complaint?
Vicki says
Hi, no he did not make any affordability claim before. Does this mean if he joined the scheme in May he would only get payments made in full from May?
Sara (Debt Camel) says
Yes. Whenever he joined the scheme, he would get a full refund for any payments made after 28 May
Vicki says
Is there a way to find out when he joined the scheme?
Sara (Debt Camel) says
Ask Amigo?
Christian cross says
God bless you Sara!
Finally all is good For me 3 loans upheld all with a 30 pound cash claim value. Had 9k arrears does this mean they owe me after the balance was wiped ?
Many thanks
Sara (Debt Camel) says
The decision email should have given you the details.. can you post them in here?
Peter says
Finally.
Just got an email from Amigo, nice birthday present :).
Payment in next 3 working days :)
I hope so….
Del boy Elder says
I was told the same 3 weeks ago buddy…
Patrick says
People who have received their refund – does the scheme portal update to reflect this when you login ?
Kirsty says
I had my payment into my account today – portal has not been updated to reflect this.
Anthony hodgson says
Wow u actually received something was it the full amount stated?
Kirsty says
Hi Anthony, yes it was the exact amount I had been quoted in my FRL on 7th December :)
Patrick says
Sara – could you kindly please check mine and confirm I am expecting a full refund ? I accepted this on 7th December.
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
43763621 £4,000.00 36 02/10/2018
45538982 £4,500.00 60 14/01/2019
Interest Refund Fee Refund Reinstated Interest Total Borrower Refund
£6,631.78 £0.00 £0.00 £6,631.78
Cash Claim Value £2,718.86
8% Compensation £144.64
Total Cash Claim Value £2,863.50
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £3,912.92
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £279.70
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £55.94
Total Refund Value (1+2+3 minus 4) £4,136.68
Sara (Debt Camel) says
You will get £4,136 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 £2863, so roughly £490
Joanne owens says
I paid my loan off in full February 2023 paid 13,400 interest in total they agreed to pay me £2900 in compensation I received £21 into my account yesterday!!!
Sara (Debt Camel) says
sorry are you saying you only received £21? or you received £21 extra?
L says
Amigo has updated the website on the 19th of march but nothing seems to have changed in the details
G says
The payout dates haves changed from Feb 2nd onwards on live loans. Gone from mid April to end of May. To mid March to
End of May
Jade says
Will my guarantor be refunded in full? We both put complaints in at the same time, mine is upheld though she hasn’t heard anything as yet?
She cleared the loan for me in late 2022.
Sara (Debt Camel) says
if your complaint was upheld, hers should be
Jade says
Sorry, my mistake it was late 2021 it was cleared – does that make a difference?
Sara (Debt Camel) says
She will only be refunded at a percentage, likely to be about 17%.
Susan says
Finally had my out come could you please help me with the number , am I die a full refund for some of it
Agreement 50134338
Date of payout 30/08/2019
Amount borrowed £5,000.00
Outcome Upheld
Agreement claim values
Interest waived £6,857.20
8% compensation £0.00
Claim value £6,857.20
Agreement set off refunds
Refund of payments made £3,300.04
8% compensation £192.40
8% compensation tax £38.48
Claim value £3,453.96
——————————
It’s slightly different on my email
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £3,300.04
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £192.40
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £38.48
Total Refund Value (1+2+3 minus 4) £3,453.96
Sara (Debt Camel) says
This line Total Refund Value (1+2+3 minus 4) £3,453.96 is the amount you will get as a full refund.
Is there also a line that says Total Cash Claim Value or Scheme Cash Claim?
James Harrod says
Good afternoon,
I have FINALLY received my outcome and below is the email and a consolidated version of the upheld loans.
Dear James
We’ve reviewed your claim against ALL Scheme Ltd (‘SchemeCo’), regarding the loan(s) you held with Amigo Loans Ltd (‘Amigo’). This was reviewed as part of our Scheme of Arrangement (‘Scheme’). You can read more about this at http://www.amigoscheme.co.uk.
Claim Outcome: Upheld
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 £9,447.74 due to Amigo and means you have a Scheme Cash Claim for the balance of £9,010.21.
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.
Date of payout Amount borrowed Interest waived Fee refund 8% compensation Claim value
29/05/2009 £3,300.00 £926.59 £330.00 £1,217.06 £2,473.66
09/05/2011 £3,300.00 £2,225.37 £300.00 £2,525.37
18/06/2013 £3,250.00 £897.58 £36.89 £934.47
20/02/2014 £5,000.00 £259.58 £259.58
05/01/2018 £5,000.00 £567.56 £567.56
16/04/2018 £9,000.00 £1,895.61 £1,895.61
24/10/2018 £10,000.00 £12,886.24 £598.00 £13,484.25
Total £38,850.00 £19,658.53 £630.00 £1,851.95 £22,140.50
On the basis of this data, am I right in saying that I should be getting a dividend refund (10% and then 7%) from the £9,010.21?
Many thanks,
James Harrod
Sara (Debt Camel) says
Yes you should get a percentage refund of the Scheme cash claim value. It is expected to be about 17% but the split as to how much will be paid in the first instalment hasn’t yet been decided.
BUT was there a box at the bottom of the email that said the 1 + 2 + 3 minus 4? if there was, then you will also get paid that amount in full.
OR did your guarantor make quite a few payments?
Because at the moment there seems to be several thousand pounds of refunds not accounted for…
James Harrod says
Hi Sara,
Thank you for confirming that. It’s a relief I will get at least some of the money back.
I requested the equitabe set-off in Nov 2021 and did not make any payments after then. So I’m only entitled to the dividend back, which is OK.
No, my gurantors did not make any payments towards any of the loans I had.
Many thanks
Sara (Debt Camel) says
Then there is some money unaccounted for. because you are getting back 9447 (balance write off) plus 9010 scheme cash claim That is about 18,500. A LOT less than than the Claim value of over 22k.
This is sometimes an Amigo error where they have wrongly categorised some of your payments as coming from your guarantor.
I suggest you phone them up and ask why… as it will be well over £500 even after the its paid at 17%
James Harrod says
Hi Sara,
Do you mean the written off value of £9,447.74 and the Scheme Cash claim of £9,010.21, should match the Total Claim value of £22,140.50. So that means there is £3,682.55 missing from their calculation?
Thanks
Sara (Debt Camel) says
yes
(unless you had a balance cleared or your guarantor made payments)
Adam says
Finally received my outcome can you help me understand
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 £12,272.34 due to Amigo and means you have a Scheme Cash Claim for the balance of £3,545.39.
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
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
Interest Refund Fee Refund Reinstated Interest
£15,573.72 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £12,272.34 due to Amigo and means you have a Scheme Cash Claim for the balance of £3,545.39.
I don’t understand the live outstanding loan balance as I had paid the principal amount borrowed on my last loan in order to enter equitable set off
Thank you
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get a PERCENTAGE, currently expected to be about 17%, of the Scheme Cash Claim of £3545, so roughly £600
Entering Equitable set off did not clear your balance or stop interest accruing. So Amigo has when it has calculated your interest refund included all the extra interest added and then wiped the large balance with that. It is a confusing way to do the calculation, but it gives the same result as if they had adjusted the balance by removing all interest.
Emma says
Finally received my decision from Amigo today! Both loan upheld as unaffordable. So pleased that this is all finally over, despite having Amigo removed from my credit reports last year and them also emailing me not to make anymore payments you are never sure until you get the actual notice.
Thank you for all your work on this Sara.
Alex says
Hi,
FINALLY HAD MY OUTCOME!
Sorry – I am slightly lost on the figures, is it possible for you to advise what I’m likely to receive. I have had 2 loans overall and the last one did have an outstanding balance.
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
31151245 £2,500.00 48 12/09/2016
52881593 £5,000.00 60 15/01/2020
Interest Refund Fee Refund Reinstated Interest
£7,727.14 £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 £2,451.87 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,193.58.
Please note – The Scheme Cash Claim Value will not be paid to you in full, and will be subject to a pence in the pound dividend payment.
*Outstanding loan balance at the point of your Scheme claim calculation
Refund Type Refund Amount
Payments made after Scheme Effective Date (1) £3,557.16
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £219.20
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £43.84
Total Refund Value (1+2+3 minus 4) £3,732.52
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £3,732 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 £2193, so roughly £370
Rob says
Hi Sara,
I have finally received response with 4 upheld complaints, however, only 1 is showing a figure for 8% compensation….should they all be showing a figure for that as a refund? It’s difficult to copy and paste as they haven’t sent in letter form.
Sara (Debt Camel) says
You should have been sent an email with the decision.
Were the other 3 loans topped up?
Mitfordsister says
Hi Sara
I had mine today.
All loans upheld with scheme cash claim of £17,085.55p
No interest on any.
One £30 readdress.
I owed them some money so they have taken that and said my total refund value is £1,087.00
Are they two separate things? Sorry for being dense. I just want to check before I agree.
Sara (Debt Camel) says
You haven’t posted the full email you have been sent, but from what you have said, i think you will get £1,087 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 £17,085, so roughly £2,900.
Mitforsister says
Hi Sara
Payments made before scheme effective date. £1,087.20p
I take it I will be refunded that in full?
Then the percentage of the rest…£17,085p
If you except the offer is there still a delay on the money owed in full or will it be paid in dribs and drabs?
Thanks for your help. I do appreciate it.
Sara (Debt Camel) says
“Payments made before scheme effective date. £1,087.20p
I take it I will be refunded that in full?
Then the percentage of the rest…£17,085p”
yes – that’s right
The “in full payment” will be paid sometime before the end of May.
The “percentage” payment will be paid in two instalments. Amigo hopes to make the first instalment which will be larger in April-June. The second smaller one will be towards the end of the year.
Roxy says
Hi I’ve received a email today which people received back in November/December. I have a live loan and no Final response yet.
Am I right in thinking they will have looked at the loan before sending me this email and I am likely going to get a refund?
Has anyone received this email and then had a claim rejected?
Thanks
We are contacting you today with regards to your current loan with Amigo
Following a review of this claim, and given that you have an outstanding loan balance, we have made the decision to stop automatically collecting any future payments from you, whilst the Scheme Outcome is finalised.
This means that you will most likely have your liability for this loan removed, and will not have any further payments collected from you. We’d also ask that you do not make any future payments to the loan, and cancel any Standing Orders or regular payments that you have set up.
Whilst we finalise the details of this claim you may notice that the account has fallen into arrears and you might receive some communication stating this. No action is required from you, and we’d ask that you keep this information for your own records. We will ensure that you are not detrimentally impacted in any way from the actions that we are taking to resolve this matter.
Sara (Debt Camel) says
It is VERY likely but not yet 100% certain your claim will be upheld.
A handful of people have said they later had their claim rejected. Thousands have had it upheld.
Andrew says
Hi Sara
Just had my response;
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 £9,678.91 due to Amigo and means you have a Scheme Cash Claim for the balance of £3,563.01.
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 TypeRefund AmountPayments made after Scheme Effective Date (1)£330.00Payments made before Scheme Effective Date (2)£60.008% Compensation on payments made after Scheme Effective Date (3)£19.558% Compensation withholding tax (on payments made after Scheme Effective Date) (4)£3.91Total Refund Value (1+2+3 minus 4)£405.64
I’m presuming current loan will be paid off and I will receive two separate payments of the £405.64 then whatever the % value of the £3,563.01 is?
Many thanks
Andrew
Sara (Debt Camel) says
That is correct
James says
Hello, I saw this one the Amigo website;
“Some customers may be entitled to a full refund of certain payments they made to the loan provided that they have repaid at least the amount they borrowed. These customers are due a full refund of payments from:
– 1st December 2021, if they made a complaint on or before that date;
– The date they made a complaint, if after 1st December 2021 and before 26th May 2022 (the Scheme Effective Date); or
– 26th May 2022 (the Scheme Effective Date) in all other cases.
If a customer does not meet these requirements, then they will receive any cash redress due at the pence in the pound figure. Details will be in the customer’s Final Response Letter, including whether they are due a full refund of any of their payments.”
I initially complained in 2019 and Amigo declined my complaint – I did eventually go to the Ombudsman, but by then, Amigo had entered into the scheme.
Amigo offered me a partial redress of the 17p per pound to which I felt I should accept as it was better than nothing and they said escalating a claim wouldn’t result in a high payment.
However, with proof that I complained way before the scheme started, would I be entitled to a full refund?
Thank you for all your hard work you do with this site.
Sara (Debt Camel) says
did you go to the ombudsman within 6 months of Amigo declining you complaint?
Bo says
Hi Sarah you have been fantastic it all the advice you have given during this fiasco. I have one question though. On my email it say £30 compensation for non affordability complaint. That is totally separate from the complaint raised which they have upheld. Is this a figure they have made up?
Sara (Debt Camel) says
This seems to be a set amount they give everyone who mentioned any “non affordability” issue in their complaint.
Bo says
Hi Sarah thanks again for the awesome job you have done through this. It just shows how big companies can write there own rules. I borrowed 3000 then 6 months later increased to 5000, over the 3 years I had the loans paid them over 12000 pounds and still had an outstanding balance. They are saying they are wiping the outstanding debt and should receive approximately 680 pounds redress what an absolute joke. Yet there is nothing that can be done to address this injustice. Thousands of people in the same boat yet FCA and FOS do nothing
MN says
Hi Sara
Please help me understand what I am due?
I was expecting more that £4000, is this right?
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
£3,250.00 24 29/10/2018
£5,000.00 36 04/02/2019
£6,500.00 60 09/01/2020
Interest Refund Fee Refund Reinstated Interest
£10,386.74 £0.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £3,001.23 due to Amigo and means you have a Scheme Cash Claim for the balance of £2,850.44.
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) £4,367.47
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £258.51
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £51.70
Total Refund Value (1+2+3 minus 4) £4,574.28
We may be required by law to report to HM Revenue and Customs (HMRC) any 8%
Sara (Debt Camel) says
Your balance has been cleared.
ALSO
You will get £4,574 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 £2850, so roughly £480
Toni says
Hi Sara, Can you help me understand the below?
Appendices
Amigo Loan Agreement No. Loan Amount Loan Term Date Loan Approved
£2,200.00 36 31/08/2007
£2,000.00 36 18/03/2009
£3,000.00 60 14/06/2010
£5,000.00 60 11/07/2011
£5,000.00 60 25/10/2019
Interest Refund Fee Refund Reinstated Interest
£16,265.30 £200.00 £0.00
Following our investigation, your claim has been upheld. Based on our valuation, part of your Scheme claim will be used to settle in full your live outstanding loan balance* of £3,754.78 due to Amigo and means you have a Scheme Cash Claim for the balance of £16,510.89.
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) £3,102.42
Payments made before Scheme Effective Date (2) £0.00
8% Compensation on payments made after Scheme Effective Date (3) £222.69
8% Compensation withholding tax (on payments made after Scheme Effective Date) (4) £44.54
Total Refund Value (1+2+3 minus 4) £3,280.57
Does this mean I will get a full refund of £3280.57
and 17p to the pound of £16,510.89.
Sara (Debt Camel) says
yes!
Toni says
Thank you.
I understand the full refund is due to be paid before the end of May, do you know when the other amount is due to be paid it is all so confusing and I cannot make head nor tail and is that amount in stages?
Thank u again
Sara (Debt Camel) says
This will be paid in two instalments. Amigo hopes to make the first instalment which will be larger in April-June. The second smaller one will be towards the end of the year.
Matt S says
November 2022 since i last had any update from Amigo. Still not too sure whether to expect anything positive or not. I was lucky enough to win a claim against them in 2019 via the Ombudsman which resulted in all interest on my 2nd loan with them being refunded (over £10k). I didn’t at the time include my first loan with them so assume this will be the only one they’d be looking at through the scheme.
Is the radio silence to be expected or has anyone else that is still waiting for an outcome had any updates in the past 16 months?
Mr Patrick Flynn says
Finally got my refund email at 4pm today – feels like I’ve been waiting forever.
Good luck all still waiting !!!!