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Most of these are people with loans taken out longer ago, so their contact details may be out of date too.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.
Jackie says
My son had top ups to his loans with Amigo finally ending with a 10000 loan. He was then unable to work and as I was his guarantor I was hounded to make the repayments of £427 each month. I contacted them several times explaining that I am a widow struggling to pay my own bills and asking for a reduction but I was refused. I borrowed 7000 from another lender and paid it to Amigo and in total I paid in excess of 16000 to Amigo. I have put in complaints both through the scheme and individually. My understanding was that as I was the guarantor and did not benefit from the loans then I would be refunded the payments I have made. Please can you tell me if this is correct. The last letter I received said that there is still just over 3500 owing for the loan but I have not been asked to make any payments for the past year. I also would like to say thank you for all the advice provided in the forum.
Sara (Debt Camel) says
My understanding was that as I was the guarantor and did not benefit from the loans then I would be refunded the payments I have made.
That is what would have happened if the complaint had gone to the Ombudsman.
The same calculation is made in the Amigo Scheme BUT there isn’t enough money to pay out claims in full so you will only be paid a percentage of this amount.
Originally Amigo said it expected percentage would be 41%
But it never explained how it got that number. In November the report on the Scheme said there had been 210,000 claims – a lot more than Amigo had expected. So the payout was now expected to be about 20p in the £
And todays announcement (see https://debtcamel.co.uk/amigo-fails-scheme-fallback/) means that is now going to drop a bit more to 17p in the £.
So I am afraid from your £16,000 you may get less than £3,000 back.
Who else did you borrow the 7000 from? Have you looked at an affordability complaint against them?
Craig P says
Hello Sara
I myself had numerous loans from Amigo dating back to 2013 and was offered top ups through the years and took them up on the offers of top ups ☹️👎 my last top up was in June 2019 and for £15k and have now paid £592 a month since then meaning that I’ve paid back £21,904 to date and still have a remaining balance of £13,735 I put the affordability claim in with amigo in 2020 and have struggled ever since relying on the likes of Klarna/lay-by etc… to buy shopping/kids clothes etc etc…. and borrowing money from a family member on a monthly basis just to cover bills! Would you recommend I get in touch with Amigo to ask about The Right of Equitable Set Off option? With already paying well over my £15k that I borrowed
Thanks
Sara (Debt Camel) says
have you made a claim to the Scheme?
Craig P says
Yes I certainly have
Sara (Debt Camel) says
Then this article explains the pros and cons of Equitable Set off https://debtcamel.co.uk/stop-paying-amigo-set-off/
With so many top ups it would seem likely that this is a strong complaint, but there is always some risk that the claim about the last loan would not be upheld.
Michael says
Hi Sara,
I originally raised a complaint in 2020 with Amigo for loans since 2014.We have suffered significant financially health implications as a direct result of the loans and Amigos ruthless threatening constant emails, texts phone calls. They dismissed our claim, which I then contacted FOS, who said due to the sheer number of complaints cannot get involved. However, as a claim has been submitted we would not need to submit another claim. I am grateful to Debtcamel, I have followed you since this time. I voted in 2021 for the Amigo Schemes and continued to follow all information involved. In June 2022 I clicked a link for the Scheme to register my claim and was text a link to follow. This took me to Amigo Scheme page, where I was asked to submit my information. I did this and completed the claim. I continued to follow info that they would be in touch during the first part of 2023. I have continued to suffer financial hardship, although my wife and I working full time. I have not made the last 4 payments and contacted Amigo to Off Set after reading it on Debtcamel. They replied saying that they have no evidence of a claim being made???
What can I do, there was no email trail as it was an external link to Amigo.I have been emailing them and they have replied with if I have no evidence proving the claim was made, I must stop emailing them, they will not respond.
Sara (Debt Camel) says
when did your case go to the Finacial Ombudsman? Do you have the response from them, what date was that?
Mike says
My complaint wit Amigo was during middle to end of 2020. I contacted the Ombudsman January 2021 but they said they have paused processing Amigo complaints until they have an outcome for the scheme.
Sara (Debt Camel) says
Then I suggest you contact Amigo with the email from the ombudsman about your claim. Amigo should have automatically submitted complaints for people with Ombudsman cases.
Karl Schulz says
I don’t understand Sara I’m sorry. Amigo said it’s going to use the fallback and also that it’s going into close down. I feel sorry for people losing their jobs but we’re do I stand. I’ve made a complaint and I’ve done the equity offset so where does that leave me?
Sara (Debt Camel) says
The news from Amigo yesterday doesn’t have much immediate impact on you.
The Scheme continues. The most important thing for you now is whether your claim will be upheld, which you should know in the next few months.
If it is upheld your loan will be reduced and probably cleared. No change there. Any extra refund will be paid in cash and there the percentage you will get has now dropped a bit because of the news – it’s now down to 17%.
If your claim is rejected (remember you can appeal this!) then you will have to start repaying the loan again or you4 guarantor will be asked to pay. And it’s likely your loan will be sold to a debt collector. But most debt collectors are nicer to deal with than Amigo!
Sean says
All the info is in Saras previous articles and even this thread.
What we really want to know is when the letters are coming out. As although they would say they are within the timeframe it’s certainly getting on.
And that if a claim is upheld surely your credit report should be reflected within 6 weeks of you accepting that decision.
Leon Bull says
Lack of information from amigo, fast enough to phone me when I’m late with payment.
AG says
Hi All,
I have been regularly checking the Amigo Scheme Portal ever since submitting my claim. However, I have yet to receive a final response letter either on the portal, via email or post.
Does anyone know when we can expect to receive an update on this matter, or have others started getting updates?
Thanks.
Sean says
Don’t think anyone has got theirs yet.
Also from what I have read on here many people have been told different dates when they have called up.
So I don’t even think amigo know and think they have not even looked at one yet. That’s just my opinion so no facts there.
Very frustrating as its hammering my credit file although I did know this before set off but thought it would of at least been on the way to being wrapped up now.
I have emailed them about 20 times a day for a week with nothing back.
Also emailed bbc news and other outlets, again with nothing back.
The only person that seems to be on our side is Sara.
Rediculous really.
David says
Could not care less about amigo i know I’m defo due a successful claim ive had 3-4top up loans not actually sure so this one i topped up 12000 my uncle is the guarantor i was paying 474.30 got this last top up on the tail end of 2019 so by my thoughts paid well more than 12000 toward the loan and probably more on interest as monthly payments for like the first year wasnt even shifting 100 off it.
My partner has lost her job i was paying the loan anyway but now that shes out of pocket ive took up her bills so i phoned amigo and said as they were my highest bill each month i was chasing them first they’ve took my monthly payments down to 200 but said while this is ongoing interest of 200 each month means my loan amount will be staying the same until i can make higher payments again until i hit some cap amount.
Choking for this to be gone as its been brutal paying this amount for so long what is this equitable set off? i read the artice on it should i email them for this does this affect my credit rating or anything seems like a good idea to halt paying them till i get my result yes?
Or any other advice one can provide would be helpful.
Sara (Debt Camel) says
Your current arrangement with Amigo will be hitting your credit rating won’t it?
Equitable set also will, as my other article (https://debtcamel.co.uk/stop-paying-amigo-set-off/) describes.
But the important point here is that you re able to pay essential bills, isn’t it?
So if you can5 manage that when you are paying them £200 a month that needs to be reduced.
Craig says
Hi
I am a guarantor for a loan still outstanding and the loanee has put a claim in and I haven’t as the loanee only told me about this last week and now he has told me the loan doesn’t need paying as he’s made a claim but I’m worried amigo will come after me now and that it will affect my credit rating ?
So does this loan still need paying ?
Please help
Sara (Debt Camel) says
If the borrower wins his claim, you will be released as guarantor – he ma6 or may not have a reduced balance to pay but you will no longer be liable for it.
If the borrower does not win his claim the loan continues as before and you remain as guarantor.
L.B says
When are they going to let us all know when money will be refunded
Sara (Debt Camel) says
you will first hear the decision on your claim.
Sean says
Well we are now into April and nothing yet.
Although they did say to some it would be March and I’m sure someone even said back in end of January they were 50 percent through claims.
Not looking like there is any rush or want to actually do something.
Ruth says
Latest from someone at Amigo being illusive….for context my claim was submitted July 2020:
*They can’t give a firm date for a reply
*”They” are looking into the oldest complaints first
“Aim is to reply to everyone within 6months of scheme deadline
*I should hear before end of June
Silent applause for another story from Amigo.
Lee says
I have spoke tot he guy today who is brutally honest and he advised that they cant five anyone an offer until every claim has been looked at so dont listen to any 50 percent of claims are done its nonsense. Hr basicly said they are making offers based on how many successful claims there are but rhey dont know that until all claims are looked at then they make offers… going to be another few months for sure
Sara (Debt Camel) says
It’s true they won’t be able to to tell you how much you may Be paid for months. But they can start telling people if their claims have been upheld and what the calculated total redress would have been – you just Won’t know what percentage of this you will get until later.
Karen says
Hi I have a claim going through at the moment I am still paying my loan would like to do equity set off if possible would they still accept that at this stage slso I want to add more info to my loan would they accept that?
Sara (Debt Camel) says
contact Amigo to set up Equitable set off. And to supply more information about your claim.
Louise Marriott says
I added an update about my sisters mental health and cancer progression to our case a couple of weeks ago.
I also set her up for the Equitable Set Off too.
Derek says
I was on to Amigo today and was told I will not receive a decision until July, by email. Sarah, I meant to ask them if Amigo are offering any negotiation to settle loans? I could afford to make an offer to them, have £5.5 balance and only paying the monthly payment as my guarantor would be hassled, I don’t even live in the UK anymore, but would they settle the loan if I made an offer?
Derek
Sara (Debt Camel) says
I doubt it.
I know this sounds odd, but Amigo really don’t care if this saves money to settle now. It’s not “Amigo’s money” that they are saving, it’s just money from the pile that is distributed between the people with upheld claims.
Amigo have more than 200,000 cases to be decided. If even 5% of that number would like to make a settlement, or are happy to withdraw a claim if their credit record is cleared, or if their guarantor is released, it would cause chaos and delays to deal with all these individual cases and consider them and take action in them.
From Amigo’s point of view it is simpler to stick to the Scheme process and not think about exceptions.
sean brown says
I thought they had to tell people by end of May as per court guidance?
Craig says
It’s amigo they do what they want
Ollie says
I had a loan with amigo and made to ups to the maximum amount in which I could never afford and on all my bank statements sent in they could see every month I had to get payday loans to pay my amigo payment. My guarantor was my nan who was retired and couldn’t make the payments if I didn’t. But yet every month I could top up no problem! My guarantor passed away I still owe over £10k and I have had to go into an iva with all other loans I had to take out to pay my monthly payments. Will my claim be successful and what will happen with amigo in my iva will they become none existent as they are the main company I owe in the iva.
Sara (Debt Camel) says
If you have topped up that is usually a sign tha5 the loans were unaffordable. But I can’t guess what Amigo may decide on your claim.
If your current loan is cleared then it is removed from your IVA.
Any cash refund that is due to you from Amigo is very likely to be paid into your IVA instead.
If you still owe Amigo at the end of the claim, then that remains in your IVA. It is likely that Amigo will sell the remains of its loan book, but as you are already in an IVA this won’t much matter to you.
Phil says
I am a guarantor for a family members Amigo loan, when I was asked, I was not accepted for any mainstream loan but was deemed acceptable as a guarantor by Amigo. My family member has made a claim and so have I as guarantor. My family member telephoned Amigo today and was told that they are going to complete the scheme and are then closing and any outstanding loans would be sold. They told them that if their complaint is not upheld, I would still be released as a guarantor as the debt would be sold on. Is this true? Or would I then be more liable?
Sara (Debt Camel) says
They told them that if their complaint is not upheld, I would still be released as a guarantor as the debt would be sold on. Is this true?
I doubt someone in Amigo customer services has any idea about the terms on which remaining loans will be sold after the Scheme has been completed.
Although it would be possible to release a guarantor and then sell a loan, Amigo would get a much lower price for a non guarantor loan.
When Amigo have previously sold loans to a debt collector, so far as I am aware they have always been sold as guarantor loans.
Gemma says
Just spoken to Amigo and apparently they are in the process of sending out decisions. They estimate it’ll take up to the middle of July to issue decisions on all claims, but are aiming to do it ASAP.
From the FAQs it appears any upheld claims will be settled as follows: The money held in escrow (not all claims will have money sat in escrow) will be refunded first in full, followed by a reduction of the remaining outstanding balance & then lastly a refund at the rate of 17p in the £1 against any compensation still due after refund of escrow and reduction of O/s balance has been completed, along with your credit record having all negative markers removed.
Happy to be corrected on that though!
Nathan says
It’s quite astonishing they’re now projecting July as the new date. It’s absolutely shocking they’ve given multiple dates since the scheme closed and haven’t stuck to a single one. It’s been 5 or 6 months since the scheme closed in November. Just a disgrace.
Matthew Bushell says
Hi , i do find it very strange that nobody has recieved a decision letter as of yet.
They have known about this for 6 months and yet we are all told different stories ( yes thats what they are ” stories “)
Even with the wind down in recent events , something is not right here.
Nathan says
I believe they are just openly lying to us because many of the people who will have successful claims (they sided with 83% of all complaints forcing the scheme to be launched) within the scheme are still paying loans and they want the cash. For example, I borrowed £10k. I’ve repaid £21,300 so far. If they were to find my way today, I’d get about £3621 in compensation at the current rate of 17p to every pound. If they dragged it out, and I cleared the loan, I’d have relayed £23,700. So they get nearly £3500 back from me but my compensation return would be £4010. I gain in compensation £500 but they got an extra £3000 out of me. Now, my maths are based on estimates but the figures show they gain if they drag it out. I’m on various forums and twitter threads. Not a single person has heard from them since the scheme closed. Now with them closing up shop, it’ll be a gleam to get what cash they can.
Sara (Debt Camel) says
after the point where you made a claim some of your payments are being placed in a trust account and you will get those back in full. Not at 17%.
Rebecca H says
This is really frustrating as I entered equity set off as didn’t want to burn empty cash by paying every month and then only getting 17p back to the pound. Since then they have dragged this out for nearly 2 years and it has shot my credit file to pieces!!! When I entered equity set off I wasn’t told about the impact to my credit file and feel deceived by the whole thing. Has anyone actually had a Final Reponse yet? They said all claims would be responded to the first half of this year and I complained over a year and a bit before the scheme deadline even closed.
Mr sean g brown says
Don’t think anyone has heard a thing yet.
I first complained in November 2020.
The negative markers are preventing me getting on with things.
Think I’m just going to start hammering them with 500 emails a day and call at every spare moment I can.
See if that will get anything out of them.
The are a dangerously lackluster and incompetent company to deal with.
I’m baffled how they have not been given the hurry up.
I’m not arsed about the comp I just want it off my file.
They will delay the comp time and time again.
Think the first payment has already been delayed until 2024 rather than September this year.
Sara (Debt Camel) says
Bombarding them will make no difference- with 200,000 claims Amigo cannot look at them individually.
The last payment has been delayed until 2024. Amigo has said the first payment will be made “in late 2023”
Lee says
it may be worth asking for a statement to be added to your credit file (Notice of Dispute) so any lenders can see this prior. I have had one added. not sure if make any difference.
“I, XXXX, was approached by lender on MONTH YEAR. They were advising that I can stop paying my loan whilst my complaint with them is outstanding, through Equitable Set Off. Putting payments on hold until the claim is considered in their High Court approved Scheme of Arrangement. As a result, this has started to impact my credit file and shows as missed payments. Before this my file was in good order with no previous missed or late payments in the previous three years proceeding this equitable set off. These only show as missed payments due to the set off and I ask this to be taken into consideration when considering my application.”
Sara (Debt Camel) says
I don’t know if that’s likely to help. For a start you would probably rather future creditors didn’t realise you had been in such a mess you took an expensive Amigo loan.
And what future lender would want to lend to you knowing that if you lose the Amigo claim you ma6 be in serious trouble?
Karl schulz says
Sarah you said some of the payments were put aside, do we only get the payments put aside back (rather vague) and is it only if your claim is won ? Thanks
Sara (Debt Camel) says
Yes it’s only if you win the claim.
Amigo are supposed to be putting enough aside that will let them repay in full the payments people have made after they claimed that were just paying interest.
Rebecca says
Is this a new thing as I wasn’t informed of this back in 2021. That’s why I was offered EQ SET because I didn’t want to pay lots and then not get it back? I was never told about returning monies paid as I would have continued to pay if I was informed of this. They never even mentioned it on month 1 where they started to impact my file and I rang countless times.
Sara (Debt Camel) says
From memory, it was announced with the proposals for the second scheme in December 2021.
Karl says
Thanks Sarah, when you say in full do you mean in full or just the .17p in the pound ?
Sara (Debt Camel) says
I mean in full – any overpayments you made from the time you made a claim.
Kayla says
For any one that has a current loan, amigo have decommissioned there app.
Without telling customers. I tried logging on and couldn’t, I emailed them and they responded by saying they’ve decommissioned it. But you can log on via there website.
Nice of them to tell there current customers
Rebecca H says
Anyone had a response from the scheme and when did you complain initially?
Simon says
I am currently using the equitable set off and have been for the past 6 months. In the last 2 weeks I’ve received 3 letters and my guarantor has received 2 letters asking me to pay my arrears and I’ve previously been told by Amigo that they legally have to send them and I don’t need to do anything. This was my 5th loan with them. I just wondered if anyone else is receiving these letters.
Rebecca says
They start of heavy in the beginning of equity set off. Mine have nearly tailed of near on 2 years later but I rang them and shouted and went to the FOS. Awful company
Chmj says
No I have had an equitable set off for about the same amount of time I have not received any communication and neither had my guarantor
Nathaniel says
Someone on the Money Supermarket forum said they got a response from the scheme mid-March and he was rejected. The guy said he bought a car with the loan, gave them financial issues trying to keep paying and then sold the car to pay off the remainder of the loan.
This was the response he got..
“When reviewing your claim, we have reviewed the above, and taken a range of factors into consideration
to make our decision. We have found that:
● A review of your credit file along with a satisfactory ‘buffer’ of disposable income supported
Amigo’s decision to lend;
● The financial commitment agreed with you was clear, and Amigo carefully considered your ability
to sustainably maintain repayments at the agreed level;
● You were aware of, and appropriately informed about, the financial commitment you were
entering into, and
● Our assessment that Amigo should enter into this loan agreement with you was not unreasonable,
unaffordable, or unfair, considering the circumstances.
Due to this, and based on the information we have reviewed, this is confirmation that your claim has been
rejected. This means that no redress is due to you, within the Scheme.”
So, we know at least one who has heard.
Sara (Debt Camel) says
Amigo carefully considered your ability to sustainably maintain repayments at the agreed level;
Highly unlikely. Amigo’s affordability checks were somewhere between poor and appalling.
I hope the person considered appealing the decision in the Scheme.
Kirsty says
Hi all,
I am in a repayment arrangement with Amigo as the repayments were unaffordable over a long period of time. With the cost of living increases etc. even the £150 a month I pay is a lot at the moment. Amigo are recording my reduced payments as ‘missed payments’.
If I were to go down the equitable set-off route, obviously I would save £150 but would the marks on my credit be worse or equal to the missed payment marks they make each month?
Sara (Debt Camel) says
Equitable set off would probably be much the same. In any case, if you cannot afford these payments, your credit score is surely comparatively unimortant? It must already be poor.
Kirsty says
Thank you Sara, yes well, it had improved until I had to reduce my payments, then as expected and accepted the credit score plummeted. Just was wondering if it would have a greater impact being in equitable set off, thank you x
Sara (Debt Camel) says
I think it would be much the same but how Amigo update credit records always seems a bit random.
Of course if you win the claim all negative marks will be deleted.
Lee says
Hey Sara
at what stage do you think we can complain that although we have equitable set off this is now taking longer than expected and actually damaging peoples credit files for longer than is necessary.
me for example had managed to repair my score quite well until Amigo have now started reporting missed payments (for 1 year now) which i feel is unfair due to the time delays on their part etc. further impacting people. surely that cant be fair can it?
Sara (Debt Camel) says
There is no possible way to complain about this.
(In theory you could sue Amigo in the High Court – but that would be both difficult and expensive.)
Simon says
I emailed Amigo loans this morning asking why they keep writing to me and my guarantor during equitable set-off and they replied saying that they’ve only written to me 3 times since November which isn’t true but they also said they have been sending out claim responses and aim to have them all done by the end of June.
Craig says
Tbh I wouldent belive they been sending responses out they keep changing there dates I was told last month it would be April may June someone else was told end of July when they close down they just say whatever it seems
Si says
Hi Sara, do you think it’s worthwhile someone submitting a freedom of information claim to force Amigo to actually reveal how many claims they’ve responded to and their internal timeline?
Sara (Debt Camel) says
Freedom of Information requests only apply to public bodies, not companies like Amigo.
Nathan says
Hello. I got a notification via my credit score app that my Amigo Loan is being removed from my credit file. I haven’t received any response from the scheme yet in terms of an outcome. Could this be possibly linked?
Sara (Debt Camel) says
It may be.
Other options are
– it’s an error
– Amigo are reducing the number of credit reference agencies they report to in order to save money as they wind down.
Ruth says
Can I ask which credit score provider was it? Would be interesting to see if it happens to more people.
Nathan says
I use Clearscore. They send notifications via my app or email if I have items removed or closed.
Carl says
There has been a lot of people reporting this through their ClearScore app over the last month.
Does anyone actually know what hat this really means?
AQ says
I could be wrong in this one but usually if a complaint is upheld they remove that loan agreement from credit profile. I received the same notification on ClearScore
Sara (Debt Camel) says
that is correct.
However there may be other reasons that Amigo has changed their reporting apart from an upheld complaint:
– it may be an error. Amigo’s credit reporting has always been a bit random
– Amigo may be trying to reduce their costs in the wind down period now they are no longer lending by stopping reporting to Equifax.
Chmj says
This is also appearing a closed on my credit report
Col says
Hi Nathan, when did you first complain to Amigo? Trying to guage where they’d up to if they’re going through complaints in order of age…
(Fingers crossed your complaint is upheld 🤞)
Joanne parker says
Hi just wondered if anyone had recieved a response yet?
Rebecca H says
I haven’t but I rang amigo today and was told that now they don’t expect people to receive a response until July because more people complained than they anticipated! I’m not sure why that means they couldn’t start sending responses earlier due to this but the gentleman said he didn’t think they had sent any responses out yet which from what I’ve read on here isn’t true 🤔
To me it just feels like they are moving the goalpost! He did say that the court order states that the first payments have to be made in 2023 and that process will take at least 3 months so couldn’t see it being delayed further than July
Lee says
response back from Amigo today:
We estimate final responses to be issued to customers by the end of July 2023. If you had any further questions please don’t hesitate to call our Scheme of Arrangement phone line on 01202 629798.
Rebecca says
I’m currently in equitable set off having paid 17k in total. I have a balance it’s not massive but I want to know if my claim is upheld, is the balance reduced in full or does the 0.17% rate apply to the £ still?
Sara (Debt Camel) says
Balance reductions are applied in full.
Daisy Gray says
Hi Sara and all Amigo loan hostages
I think we should all be released and have any of our outstanding debt erased or be allowed to take Amigo to court ourselves.
They have caused so much stress and distress to their customers they (Amigo) should be prosecuted for their actions.
Daisy x
Sara (Debt Camel) says
Unfortunately after the Scheme was approved it is not possible to sue Amigo. And in any case all the money they have is being divided between the creditors – suing them would not produce any more.
Patricia says
Hi Sarah
I have took out 3 loans with amigo loans
I struggled to pay them back and am now owing to another individual for the last loan
They emailed me and requested I put in a claim before November.
Heard nothing and it’s now April
Sara (Debt Camel) says
do you mean your guarantor repaid the last loan? If not, who is this other individual?
lee allen says
Anybody actually know , if and how much with 2 or 3 top loans of 10000 what i would be expected to recieve
Sara (Debt Camel) says
You would need to know how much you had paid to each of the loans and also what amount your received in cash for each loan – impossible to work anything out without all the info.
Greg says
I made a complaint back towards the end of 2019.. original loan was 5k. Paid back about 7.5k. Applied for Equitable set off. Me and my guarantor still get hounded by letters although they said they wouldn’t send any…. Any idea how much compensation, if any, I would get back if my complaint is upheld… monthly payment is £197. Officially got 22 payments left to make to complete the loan.. (pushed the repayment date forward maximum number of times, as many times I was unable to make payment) loan was taken out September 2019. Due to end end of 2024
Sara (Debt Camel) says
Was this your only loan from them? No top ups?
Greg says
Yes only the one loan of 5k
Sara (Debt Camel) says
Well if you have paid 7.5k to a 5k loan, the redress would be 2500 plus some 8% interest that I can’t guess as it depends when you made the payments. Then if the payout is 17% – and at the moment that is onoy a guess – you would get back about £425 plus having the balance wiped and your credit record cleared.
Greg says
Okay thanks. I didn’t really know how much I would get back I thought it would be more than that. But I’m not complaining. Just hope the claim goes through. Been waiting absolutely ages
Sara (Debt Camel) says
it is the write off of the balance that will help you the most.
Amigo suggested people would get 41% back, not 17%. But it turns out that number was based on a guess of only a low number of people making a claim. Amigo reused to publish the details of what it expected, so everyone had to vote blind, assuming the 41% was accurate.
karl schulz says
hi sarah can i clarify what youve put ?would greg get £2500 redress and 17% another £425 or would greg just get £425 im a bit confused thanks. just to clarify please
Sara (Debt Camel) says
Greg has already repaid more than was borrowed. So the balance would be wiped. The calculated redress would be the interest paid so far, so “2500 plus some 8% interest ”
But people will only get 17% of the redress amount that is being paid out in cash (as opposed to set off against a balance).
So he would get 17% of the “£2500 plus some 8% interest” ie about £425.
Alex says
Hi, I took out a loan sept 2014 for 5000, paying around 125 per month. I then topped up to £7500 in sept 2016, paying £296.44 with a payout of around £2000. I topped up for a third time to 10,000 in sept 2018, paying £395.25 per month with a payout of around £3800. I finish paying my loan off in September this year, so only 5 more payments to go. I submitted a complaint in jan 2019. Do you have any idea what kind of refund I would be looking at if they accept my complaint?
Thanks
Sara (Debt Camel) says
I am sorry but with two top ups how much you get will depend crucially on whether Amigo decide all the loans / top ups were affordable or on only the later ones. If Amigo doesn’t up hold them all, then it works out the redress and then adds on an a extra charge for “unpaid interest” which I up unable to guess at but which can be large.
If this happens to you, tell them you want to appeal as the earlier loans were also unaffordable.
Chris S says
Hi Sara,
Wondered if you could kindly assist, ive had many loans with Amigo and the last one in 2018 ended up turning into a CCJ against me which i currently still have and still have a balance of £4,000 which i am slowly paying off each month. If my complaints are upheld i really dont see me getting the £4,000 redress payment, could you kindly confirm first if my CCJ will be completely removed and then if so will the remaining balance what i owe be set up as a payment plan? Any response will be much appreciated
Sara (Debt Camel) says
I can’t guess what you redress might be.
But if the last loan is decided to be unaffordable, the CCJ should be set aside (for your guarantor as well- Amigo usually took the borrower and guarantor to court at the same time), the guarantor should be released and if there is a balance remaining, that is likely to be sold to a debt collector and you can set up a payment plan with them.
Chris D says
Hi Sara, i borrowed £44,000 over the space over ten years in 14 different loans which included top ups – Obviously extremely irresponsible of the company and expect nothing other that an upheld complaint. I’ve been checking the portal every 2-3 weeks which seems like close to a year. The first half of this year is nearly over of which Amigo said that all decisions will be made.
My only question is why is it now taking so long for decisions? Have you got any update on this?
Sara (Debt Camel) says
No update.
They have had a LOT more claims then they expected – that is the main reason the expected payout has dropped so far to 17p from 41p
That may explain why most of the claims decisions haven’t yet been issued – but it doesn’t really explain why almost none of them have…
ed says
Hi Sara
The longer Amigo hold on to the money they are paying out, they will be getting interest from the bank on this?
Sara (Debt Camel) says
All the money there is, including interest, is going to be distributed to people winning claims. Amigo is winding down, the shareholders get nothing.
Jean says
I have had a response but not a decision.
My email reads…
As you are aware, you have raised a claim with us in our Scheme of Arrangement, to assess the affordability checks which were carried out on you.
Due to the length of time that has passed since your initial loan was paid out, certain information relating to this loan is no longer accessible.
If you are able to assist us by sending any relevant information you have from the time the loan was paid out, please reply to this email with the documents attached for us to add to the investigation. This can include credit files, application forms or bank statements.
If we do not hear from you within the next 2 weeks, its likely we’ll carry out the investigation with the information we still hold for you.
We took our initial loan in 2011, between myself and my husband we were at the time juggling with 6 different pay day lender type company spiralling ourselves into a hole, I have no doubt in my mind that we couldn’t afford it. The loan ended up in court and we had a charge put over our house because we simply couldn’t afford it.
We are now very much out of that hole thank goodness, however, I am now expected to pay for bank statements etc? how do I get my credit history from 12 years ago? Does anyone know how? I have googled to no avail.
Thanks
Darlene
Sara (Debt Camel) says
As the article above says:
“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.”
Have you changed banks since then?
Jean says
Yes, the bank account we used was closed in around 2014. Can we access records for credit files pre 6 years? I can’t find I do regarding this anywhere
Sara (Debt Camel) says
No you can’t get hold of old credit reports. And it is not likely that you can get bank statements from a bank account closed so long ago.
Is it possible your guarantor may have kept any records about the loan?
Tony says
I’ve had 5 top up loans with amigo with the first loan being in 2016 and the last top up to £10k was in 2019. I’ve currently paid back 18k at £395 a month and have just applied equitable set off. I’ve fallen behind or had late payments in the last year on this amigo loan due to the cost of living crisis and trying to juggle bills etc as I suppose many have. Will I be likely to have my claim upheld?
Sara (Debt Camel) says
Claims with multiple top up are usually strong claims. But I can’t guess what Amigo is likely to decide.
Karen says
How did you apply for equity set off? I applied for that through their claim email address and I got a generic reply from what seems like a set reply. Stating click here for frequently asked w questions. Did you speak to someone in the loan sept.?
Tony says
Yes I called the scheme number and said I’d like to apply ESO they said it will take a few days for a decision but they emailed the same day saying it was actioned
Chris says
Hi,
I had an email from Amigo back in June 2020 stating i was entitled to refund with interest, i accepted but then they started saying they needed both parties to agree to pay my refund and ignored me until their ‘collapse’ would i be expecting to see the full amount they quoted me back in June 2020 or am i likely to just receive compensation in line with what they are now offering? I do still have the original email stating the refund offer
Sara (Debt Camel) says
It is likely you will now only get a percentage of that amount, 17% is the best guess at the moment.
Craig says
Anyone else had a response yet? I’m still waiting but I know of one person who has today so wondering is this finally it
Nathan says
Not yet. Still waiting. Already plotting my decision appeal. What response did they get?
Lorraine says
i am a guarantor and the loan payer pays back less than £100 a month, she isn’t even touching the actually loan, it’s just paying off the arrears. I became a guarantor as she was planning to pay it off in a year, here we are and she is still paying it off. I have complained as she has extended the loan term every few months and she couldn’t afford it really. I am hoping i will be realised as a gaurantor as i am fed up of getting constant emails, texts letters etc. I hope they make a decision soon.
Sara (Debt Camel) says
So she has made a claim? With several top ups that usually means she has a strong claim for at least the last one being unaffordable, which would mean you are released as guarantor.
Scot Cameron Miller says
When am I likely to receive my final response letter??
Sara (Debt Camel) says
Sometime in the few months probably.
Derek says
Hi Sara
I have a loan balance of £5,319 left. Are Amigo taking offers for settlements, I have come into an inheritance and could pay them or maybe wait to see outcome of the claim? many thanks, Derek
Sara (Debt Camel) says
Not so far as I know.
Kayla says
Don’t know if this helps but thought it was worth mentioning, as I haven’t heard of anyone hearing back yet, my friend did today and there claim was rejected
Lisa says
That’s good to know! Thank you! I haven’t heard anything yet… but I think there are a few who have had rejections… so it seems they’re sending the rejections out first? I guess no news is good news at the moment!
Craig says
Of the people I know that had final response all been rejected
Chmj says
Can you appeal rejections?
Sara (Debt Camel) says
Yes there is an internal process in the Scheme. This should be explained to you in any rejection email. There will probably be quite a short timescale for you say you want to appeal.
Karl schulz says
How are they getting informed please is it letter or email or phone call thanks
Kayla says
My friends was by email, they put claim through by another company but it was amigo that emailed them
Mk says
I put om a claim for a loan amd 2 top up loans in 2019 my last loan still outstanding of £6000
I recieved a notification from clearscore February 2023 saying Amigo ccj has been removed from my credit file this is great news for me as this is the only outcome i wanted not being to fussed on compensation. I have not had an emial or phone call nor is my Amigo account updated on a decision/ outcome as of yet and its mid- May
Chris S says
Hope you dont mind me asking as i am in the same situation, i currently have a ccj which im paying monthly balance is £4,500, was you paying intrum each month? And i am guessing your remaining balance you will pay direct to amigo now?
Stefano says
back in 2019, I took out a 10,000 loan with 49.9 apr of interest, how much should I get back today? practically today I have 9000 thousand pounds left to pay, and I have paid double that back since 2019. I still have 24 months of installments.
Sara (Debt Camel) says
was this your first Amigo loan?
Stefano says
second loand , i did an another one before of 2000 £
Sara (Debt Camel) says
That complicates things.
if you just had this last loan and you have paid 18k so far, that is 9k in interest. If the loan is upheld the rest of the balance is cleared and you would get a percentage of the 9k back in cash – at the moment 17% is the bast guess so c.£1500.
but the first loan means that you will get more back if the first loan is upheld and less back if it isn’t, as in that case Amigo makes a deduction ofr “unpaid interest” on the first loan and I have no way to guess how much that is.
Daniel says
I believe the communication has been shocking. Amigo was all for contacting people when they wanted people to vote in their favour. Whilst i accept it is now with the creditors, i still feel the communication is terrible and not enough is being done about it as this is the only page i can find with up to date information. Just leaving people in limbo.
ShaiB says
If you message them and they don’t reply just go in to an equitable set off, if your claim is rejected just appeal it, if you’ve made a claim it’s for a reason, by the time they have sorted appeals the company will be closed, at that point the debts will be sold to other companies, then either set up a direct debit you can afford for say £10 a month or hold off a couple months, and then ask for the creditor to send you the original contract of the debt with hopes that with all this foul organisation has been lost and you will no longer own the debt.
Sara (Debt Camel) says
I think the chance of the loans being sold without the CCA details is very unlikely and no one should plan on the basis of that happening.
ShaiB says
But still £10 a month through a debt company is better then £200-£500 a month now especially whilst prices for everything are rising
Sara (Debt Camel) says
These debts are likely to be sold as guarantor debts, so the debt collector will be able to go after the guarantor.
Alicia says
I had a CCJ from Amigo almost 6 years ago, after numerous top ups when I was off work sick and unable to pay. I have paid more than was ever borrowed, paid for 2 years and still only £500 short of the total amount owed originally.
My question is once the 6 years has passed and CCJ is no longer there, can amigo still chase for whats owed or sell the debt to a collection agency? Amigo hasnt registered the debt as a default, so on my report it just shows missed payment, so I am worried that i will have this hanging over my head for another 6 years if it defaults.
I would appreciate any insights! Thank you
Sara (Debt Camel) says
Have you made a claim to the Scheme?
Alicia says
Yes I have made a claim, both myself and guarantor
Sara (Debt Camel) says
Ok so if your claim is upheld the CCJ should be removed. And so should the missed payments on the debt. The claim sounds like a strong one to me, make sure to appeal it if Amigo reject it.
If it isn’t, then the CCJ remains and it is still enforceable even after 6 years when it is no longer on your credit record.
BUT Amigo should have added a default to you credit record before the CCJ was applied – they have made an error not doing this. They cannot now add a recent default, that would not be reasonable.
What I suggest you do is wait until you get the response to your claim. If it is upheld this problem goes away.
If it is not, then appeal the rejection, first saying you want them to reconsider as with the numerous top ups it was clearly unaffordable, and second saying that Amigo should also have added a default to your credit record before they took you to court for a CCJ.
Alicia says
Thank you so much for your response and advice. You are the only point of contact and a source of valuable information for us all during this fiasco. That eases my concerns so I’m very grateful.
Andrew says
How many are still awaiting a final response? I would much rather they just told us yay or nay so we know what steps to take next… seems like it’s taking a lifetime for decisions to be made!
Sara (Debt Camel) says
most people so far as I can tell!
Craig says
Tbh I think there dragging it out as there still reciving payments I stopped paying in January with equitable set off purely for this reason but from what I gather everyone who’s had a final response was rejected
Sara (Debt Camel) says
Amigo has no financial interest in dragging things out.
Jean says
Had a response today.
I can see others have had rejected emails but I’m hoping mine is promising as they say they will confirm outcome in a couple of months. I feel like if it was going to be rejected they would have just said here and now. That me thinking positively anyway! here is my response…
Thank you for your reply and please accept my apologies for our delayed response.
I’m sorry for any confusion, we have managed to locate sufficient information in order to assess your claim without the need for you to obtain anything further from either your bank or the Credit Reference Agencies. Our investigation into your claim is ongoing and we will write to you confirming the outcome in the next couple of months.
Thank you for your continued patience in this matter and we’ll be in touch in due course.
Hez says
Hi guys has anybody else has the same thing? When you log in to amigo to see claim outcome the screens just says.. Welcome back … and nothing else?
Craig Dorner says
Yep exactly the same !!!
Col says
Same here. All I see is Welcome back… Whole thing has been a shambles from start to finish.
Milena says
Mine is fine.
Tom Delaney says
I have been paying Amigo using the Equitable Set Off since November 2022 and currently have an outstanding settlement of £8,000 and arrears of £2,500.
I have recently come into some money that will pay off one but not both.
Should I just hold off paying either until I get an email from Amigo with an update to my appeal (assume between May and July ?) or just pay the arrears in the vain hope that the settlement balance figure is cleared ?
At this stage any hope of getting any return on the interest paid over the years is whimsical…just want to close this sad financial chapter.
Sara (Debt Camel) says
Do you have any other problem debts or arrears on bills at the moment?
How large was the loan? did you only have 1 from them? How much have you paid to this loan so far?
Tom Delaney says
Ironically, since I started the Equitable set-off (ESO) which reduced my Amigo payments to £50 per month, I have been paying off my credit cards and only have one left which is manageable. My initial Amigo loan was for £2,500 back in 2015 and topped up a couple of times up to £7,000 in 2016, paying £270 per month. This was then topped up to £10,000 in Mar 2017 paying £395 per month until I started the ESO in November 2022. There was a 6 month period during the pandemic when I stopped payments through Amigo but I repaid the interest for that period…..
Génesis says
Has anyone had a positive response from Amigo yet? I was forced under duress to be a guarantor for my ex boyfriend after we split up. There were many threats involved so I didn’t really have a choice after the 10 years we were together. A couple of months after taking out a loan and subsequent top up he entered into an IVA and made no further payments for 2 years. Amigo told me they were not allowed to accept payments from the IVA practitioners but I don’t know how much of this is true. I have made a claim but this was back in 2021 and a subsequent one in 2022. I am positive this will be upheld because if Amigo undertook full financial checks and full due diligence checks they would have known the dire situation of my exs finances with umpteen payday loans he had at the time. I have paid over £12,000 in monthly instalments to Amigo and thankfully paid the whole loan off after battling with him for years to help me with the payments. Amigo said they can’t take direct payments from my ex as they were not allowed which forced me to pay month after month for 2 years. I even asked him to send me money to assist with the £450 payments per months but by this time because Amigo told him he couldn’t make direct payments he had washed his hands of the whole debt amount and wanted nothing to do with it. I was wondering if you could let me know your opinion on this please Sara. Many thanks
Sara (Debt Camel) says
Amigo told me they were not allowed to accept payments from the IVA practitioners but I don’t know how much of this is true.
It is nonsense.
I am positive this will be upheld because if Amigo undertook full financial checks and full due diligence checks they would have known the dire situation of my exs finances with umpteen payday loans he had at the time.
Did he make a claim to the Scheme too?
Did you make a claim saying he could not afford the loan? that you could not afford the loan? or that you were forced to take it ou?
Génesis says
Thanks for your response, Sara.
I was bemused by the response given by Amigo saying that they cannot accept payment because of the IVA etc. Amigo would not let him pay because of the ongoing IVA which forced me to pay month after month.
I made a claim to Amigo before he did. I spent months on the phone to them in tears because of all the threats by him and being forced to take out the loan under duress and I did speak to one helpful lady once who told me to claim even before Amigo got into difficulties.
I know he has claimed also.
He’s taken out 4 odd loans, one loan and top up with family members and the rest with me as guarantor.
I told them he could never afford the loan.
Sara (Debt Camel) says
Ok, I am glad he has made the claim as they may be the easiest one to win
Génesis says
So I had a call from my ex last week and he said Amigo had paid him some £75 in respect of an overpayment on the account a week ago. It’s funny how they assume this was an overpayment by him and not me but it’s whatever, I don’t care about £75. Considering I paid 90% of the loan I really do wonder how they are doing their calculations and who is owed what.
Neither I or him have heard anything else so it seems like they are getting on with work in the background but are being painfully slow.