UPDATE
March 2025 – final scheme payment announced
Amigo has announced the last percentage payment will be 6.01%. Together with the first percentage payment, this takes the total up to 18.51%.
The amount you will receive will be a bit less than half the previous percentage payment you received. (If you have received 2 payments, the one from Amigo Loans was an “in full” refund for payments you made to Amigo after May 2022, and the one from ALL Scheme was the first percentage payment.)
These payments will be made in the next 3 weeks in batches. They will be paid in order of the date of the Amigo Decision email you were sent.
Mid August 2024
And the deadlines have slipped yet again. There are just under 4,000 people still waiting for a decision, or a revised decision after winning an appeal, or a recalculation.
There are also now (21 August), about 8,000 people where Amigo has wrong or missing bank details:
- this includes £1.7m of redress to be paid “in full”, and
- £2.4m of Initial Scheme Payments.
Most of these are people with loans taken out longer ago, so their contact details may be out of date too. And some people are worried the emails or texts they are getting about updating their bank details are a scam.
If you haven’t already been paid, check the bank account details on your Portal Account.
If these amounts are not paid by the time the second payment is made later in the year, you can’t get paid afterwards as all the money will have been distributed.
24 June 2024 – my overview:
- People who have not yet had a first decision email (FRL) If you haven’t had a recent communications from Amigo apologising for the delay you should contact Amigo urgently.
- People who have escalated a decision No-one has yet had a revised decision after winning an appeal.
- People whose defaulted loans were sold to Intrum before 2022 It isn’t clear whether cash refunds will be paid by Intrum or Amigo.
- People who are waiting for a “full refund” to be paid Some dates seem to have not been paid. Some people are still waiting for recalculations of the 8% interest and any recent payments.
- People who are waiting for the first percentage payment to be paid Some dates seem to have not been paid here as well. Some recalculations seem to be being done – I don’t know why unless Amigo messed up the numbers the first time!
- People who have been paid the first percentage payment (and any full refund) and are now waiting for the second one
Nothing will happen until the end of the 2024.
29 May 2024 – first scheme payment will be 12.5p in the £
- Amigo says “substantially all” claims have been determined and adjudicated – 99.2%
- it knows enough to be sure it can pay 12.5p in the £ so that is what it has set the Initial Scheme Payment Percentage at.
- you will get 12.5% of the amount on your Amigo email decision labelled Total Cash Claim Value or Scheme Cash Claim
- you will be paid this first amount within the next 30 days, or within 30 days of receiving an accepted Scheme Outcome, whichever is later
- Amigo says it will prioritise payments based on correct bank details being provided and age of the Outcome Letter issued (oldest to newest).
- Amigo is still saying at least 17% for the total amount to be paid, so that means 4.5p in the £ will be paid late in the year
10 April 2024 – 94% of decisions issued
- nearly a month late, Amigo still hasn’t quite reached the target of 95% of decisions it is said it would achieve by mid March
- it now expects to have issued over 98% decisions by the end of April, with the rest coming in early May
14th March 2024 – Amigo gives a payment timetable
Decisions:
- Amigo has now crawled up to 91% of decisions issued.
- they now say they expect to issue 95% of all decisions 22 March 2024, with the remainder being issued by mid-April 2024.
“In full” payments
- payments have started for the “In full” refunds;
- where a decision was issued on or before 1 February and you do not have a live loan, your payment should be made by the end of March
- where a decision was issued on or before 1 February and you do have a live loan with a balance outstanding, your payment should be made by the end of April
- where a decision was issued after 1 February, your payment should be made between mid April and end May
“Percentage” payments
- it still expects to be paying at least 17p in the pound to people expecting to get the “percentage” refunds
- it has rowed back from saying it expects the first instalment of the percentage payments to be made in April or May. It now says that it expects to “declare an interim dividend” in April or May – that is the percentage that it will pay as the first instalment, eg 10% or 12% say. And it expects payments of the first instalment to be within 30 days of making that statement about the amount.
- so they could be in June…
27 February 2024 – another delay to decisions & payments
- Amigo has still only got up to 88% of decisions issued
- it now hopes to have issued over 95% of decisions by mid-March 2024, with the rest being issued in early April
- Amigo expects to start paying the “in full” refund amounts at the end of February, but these will be done in batches so not everyone will get theirs then
- the payment of the first installment of the “percentage payments” has been put back to April or May with the final installment about 6 months later.
A reminder of who may get some “in full” refunds:
You have to have repaid at least the amount you borrowed.
From that point, you may get a full refund, not at 17%, depending on the date of your complaint/claim:
- you will get a full refund of payments made after 1 December 2021, if you had complained before that date;
- you will get a refund from the date you complained if that was between 1 December 2021 and 26 May 2022;
- you will get a full refund of payments after 26 May 2022, if your first complaint was in the Scheme.
1) only the statutory 8% interest added is taxable. Not the interest paid that is being refunded – that is your own money that you are getting back.
2) the statutory 8% interest added is taxable as savings. BUT everyone has a Tax free savings amount of £1000 for basic rate taxpayers and £500 for higher rate tax payers in a year.
4) in previous administrations & schemes, I don’t recall anyone having tax deducted from the 8% part which is paid out as a percentage, expected to be 17%. If this happens, Amigo will have to inform you of the amount of tax deducted and you may be able to claim some of that back from HMRC.
January 2024
- on 25 January Amigo admitted it has only sent out 75% of decisions. This is only 2% more than on 9 January.
- it says “We anticipated that all responses would be issued by the end of January 2024, however, the remaining work and complexities in assessing and calculating certain claims, especially for some claimants with outstanding loan balances, has taken longer than initially anticipated. Although responses are still being issued, and will continue to be, our intention is to issue all responses by mid-March 2024.”
December 2023
- the Amigo scheme page now says they have issued 71% of decisions
- Amigo has told some people with current loans to stop paying
- decisions for current loans are being sent out but not many so far
- if you have made recent payments, some may be refunded in full. In the decision you are sent, these are being called “set off refunds”. The “total cash claim value” on the decision is the amount that will be paid at a reduced percentage, expected to be about 17%.
- Amigo has issued 45% of decisions
- Amigo has been deleting a lot of loans from all three credit reference agencies . If your loans have been cleared, this is probably because your claim will be upheld. But this isn’t definite until you get the claim decision.
October 2023
- Amigo has issued 38% of decisions. It says almost all the rest should be issued by the end of December and they will all be issued by end January
- the process to remove CCJs will continue to March
- Amigo is confident the payout percentage will not be less than 17%
- it is now clear that Amigo not going to pay many borrowers where the loan has been upheld as unaffordable but the guarantor made some payments. This is ethically wrong and entirely unexpected – redress from mis-sold guarantor loans has never been handled like, by Amigo before the Scheme or by the ombudsman. You can appeal but it isn’t clear that this will succeed.
- the best estimate of the percentage payout is still at 17% but this can still change.
- Amigo now says: “We expect that the initial cash payment to customers will be in early 2024. We are unable to confirm the dividend and make interim payments until almost all claims have been decisioned in full, causing the delay from November, as previously expected. The final payment will be delayed until late 2024 (around the time that the business enters liquidation).”
September 2023
- the first rejections for current loans are going out. If this loan has caused you problems, appeal a rejection.
August 2023
- the first UPHOLD decisions are at long last being issued
- if only some of your loans have been upheld, look at an appeal. The first person has reported winning an appeal.
- some loans have been sold to Lantern. In most cases these are loans where neither the borrower or the guarantor made a claim.
March 2023
- Amigo has announced it cannot raise the money from shareholders so 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.
Both borrowers and guarantors could make a claim to the Scheme.
The definition of “unaffordable”
A loan is only “affordable” if at the time the loan was given, it was likely that you could repay it on time and still be able to pay your other debts, bills and everyday living expenses.
If paying Amigo left you so short of money you had to borrow more or you got behind with bills then it was “unaffordable”. This often happened with Amigo loans as many borrowers were desperate to try to protect their guarantor.
Amigo should have checked that a loan would be affordable for both the borrower and the guarantor. For a guarantor, this would mean that they could make all the repayments out of their income and still be able to pay their own debts, bills and living costs. A guarantor who had a house may not have had enough spare income to repay the loan so it was unaffordable.
But Amigo’s affordability checks were very poor. That’s why they were losing 88% of cases at the Financial Ombudsman.
Amigo often offered top up loans and the checks on these weren’t any better, even though people were getting deeper into debt. Repaying the first Amigo loan may have left you in financial difficulty, so a top up loan may have appeared to be a good option, even though it made your debt situation worse.
What will you get if you win the claim?
When Amigo upholds a claim, it will tell you what the “redress” calculated is. You will only get paid a percentage of this, not the full amount (unless some of your payments are very recent).
Redress for a borrower who has a claim upheld
For a borrower with a repaid loan, redress will be:
- a refund of the interest they paid on the loan;
- plus 8% statutory interest;
- Amigo is making a deduction if your guarantor made any payments. If your guarantor has also made a claim, they should be refunded. If they haven’t then no one is being refunded for these amounts.
For a borrower with a current loan, redress will be:
- a refund of any interest if they have repaid more than the amount borrowed plus 8% statutory interest, otherwise, their balance will be reduced;
- their guarantor will be released;
- if there is still a balance after the reduction, you can make a lower affordable payment arrangement to clear it.
In addition, any problems on your credit record will be removed for loans that are upheld. This will include having any CCJ removed (the legal term is set aside) and removing the default showing on the debt with Intrum if your debt was sold.
Redress for a guarantor who has a claim upheld
A guarantor’s redress is the full amount they have paid to a loan, not just the interest, plus 8% statutory interest. And if there is a current loan, they will be released as guarantor.
Previously it had been expected that guarantors would be refunded if a borrower won a claim that the loan was unaffordable even if the guarantor had not made a claim. It has now become clear that Amigo is reducing the payments to the borrower and refusing to pay the guarantor where the guarantor has not claimed.
8% statutory interest
This number is NOT 8% of the interest you should get refunded. It is 8% per year from the time of the repayments until 28 February 2022. So if your loan was settled several years before 2022, you may get 20% or more added.
BUT you will only get a % of this redress
That redress figure may look great. But you are not going to be paid that amount, just a percentage of it.
Amigo originally estimated that at 41p in the £. If your full redress is say £3,000 that would have meant you will be paid 41% of that – £1,230. But a lot more people made claims than Amigo expected – 210,000. That has reduced the amount you might get to 20p in the £.
And with the March 2023 announcement that Amigo has failed to raise the money from shareholders, there will be less cash to be refunded. The amount is now expected to be about 17p in the £.
So from a calculated redress of £3,000 you may get £510.
Exception – full refund for “continuing payments”
Some customers will get a “full refund” of certain payments they made to the loan provided that they have repaid at least the amount they borrowed and their claim is upheld. These customers are due a full refund of payments:
- from 1 December 2021, if they had complained on or before that date;
- from the date they complained, if that was between 1 December 2021 and 26 May 2022; or
- from 26 May 2022, if they did not complain before the Scheme started.
This is set out in full in 6.33 of the Explanatory Statement.
The purpose of this is so that if your claim results in a refund, payments you made after the relevant date will be refunded in full provided that you have repaid more than the amount you borrowed. For a guarantor getting a refund, the “repaid more than you borrowed” test does not apply.
Here are three borrower examples:
- a borrower who made a complaint in March 2021 (so before 1 December 2021) and who at 1 December 2021 had already paid back more than they had borrowed will get a full refund of payments they made after 1 December 2021
- a borrower who made a complaint in March 2022 (so after 1 December 2021) and who in March 2022 had already paid back more than they had borrowed will get a full refund of payments they made after that date
- a borrower who made a claim to the Scheme in September 2022 (so after the Scheme had started) who by 26 May 2022 had already paid back more than they had borrowed, will get a full refund of payments they made after 26 May 2022.
What happens after you make a claim
The deadline for making a claim has now passed
Should you appeal a decision?
The deadline for appeals has now passed
Sale of loans to Lantern
Many remaining loans have now been sold to Lantern.
The loans are being sold as guarantor loans – the guarantor has not been released and if the borrower doesn’t make an arrangement to pay the guarantor will probably be asked to.
If you or your guarantor has a problem paying Lantern, talk to a good debt adviser – your local Citizens Advice or if you prefer phone National Debtline on 0808 808 4000.
Dave says
Has anyone received an upheld claim yet?
It seems to have even gone quiet on people having their claims rejected.
hayley Kisby says
No nothing anybody else were waiting ages uts a scam we won’t get anything bsck
Cd says
I’ve just had 2 claims accepted for £1,410.54 and £1,303.18, those are the amounts in the email I recieved but upon logging into my amigo account it says the amounts are £178.20 and £1,232.34. Obviously the actual amount I’ll receive will be alot less. I’m not happy about this as I did put my complaint in months before any of this scheme was even announced, but they kept replying to my emails, when i wad asking for updates, saying its taking longer than usual to investigate my claim. I believe they intentionally did this so they wouldn’t have to pay me the full amount
Sara (Debt Camel) says
How many loans did you have? If it was more than 2, look at the calculation of the amount – is there a figure being deducted? It may say something like “Unpaid interest” – but could be called something else.
Nico says
Yes I have received today my claim was upheld
Christopher Sneddon says
Has anyone had a letter
John barrow says
Any news when were get any money owed
Shai93 says
Confirmation of upheld claims would be a start
Richard Swain says
Really don’t care about the money at this point. I just want this off my credit file. It’s crippling me.
Catherine says
I’m the same. I think it’s disgusting that they can continue to report it as missed payments when it’s them dragging their heals. Nearly 4 years I’ve been going through this with them.
Ann says
No response finally got onto my login portal and it just says that I’m in arrears but I stopped paying because I can’t afford to and have a claim that was with the ombudsman?
Tracy says
Still waiting on a decision on my claim. This is torturous as we’re the repayment and the constant calls, texts and emails when I didn’t/couldn’t pay.
Dan says
I believe they are probably putting upheld claims aside so they can let everybody know at once who has an upheld claim. If this is taking until the end of August (estimated) i wouldnt count on receiving a payment from them this year. I do not have inside information about this, but i would expect that if this is torturously slow, then so will the payout.
Mark says
I agree its a disgrace that they’ve been allowed to drag this on for so long. I’m in Equity Set off whilst they decide the outcome of my claim as I’ve paid back over £10k on a £3k loan. But this means I’m marked in default on my credit file every month. I just want to know the decision, either way, so I can get sorted ASAP.
They’ve been a total disgrace and it’s an even bigger disgrace that they been allowed to move the goalposts continuously but sadly its obvious that Amigo have no concern for their customers.
I’m not expecting to hear anything from them this year at all.
Mike says
I’ve just been emailed this….
I can confirm that we have commenced sending Final Response letters and we anticipate that all customers will receive their response by the end of August 2023. Whilst I’m unable to confirm when your specific Final Response will be sent, we believe this will be by the end of August.
Please know that any time frames are estimated.
We will be in touch via email if there is an update
Fingers crossed next month guys!
Richard Swain says
What’s this in response to an email you sent or automated? I’ve not got that email…
But thanks for sharing.
Mike says
I originally went through Resolver, back in early 2021 (Free online tool for complaints)
So just keep using them, as seem to get a response back pretty quickly….
I’m fairly confident, most of us on here will have our complaints upheld.
I think I’m one of the lucky ones on here, as my credit rating hasn’t really been affected, and my final loan repayment is next month!
I have paid a hell of a lot of money to them though!!!
Becca says
You watch us all get an email at 11:59pm on the 31st August 🙈 well that’s if they don’t move it too September 🤔
Char says
I’m so desperate for a response it’s become part of my daily routine. I check my account every single day since November last year. I can’t wait to just get a response and have closure just need to know where l stand at this point. They certainly are just making up dates to get people off the phone that’s why I’m patiently waiting l feel like it’s a waste of time contacting them.
Daniel Smith says
I waited 20 minutes today on the phone because I’m so anxious about a response , only got be told that it will be no later then August 2024 . So angry at the moment
Becca says
I don’t think that’s right, although they keep moving the goal post. Everyone recently has been told August 2023 for a decision and redress in 2024.
I did also read that potentially amigo is holding back on all the upheld claims to release at the same time, this does make the most sense as I couldn’t understand previously how no claims this far have been upheld.
Praying for a positive outcome to this absolute sham very soon 🙏🏽
Tom says
August 2024?
aden says
Is this company not in administration. surely the liquidators want this taken care of as soon as posssible.
It seems everyone who had authority over them has washed their hands and they have been left to their own devices.
If they are not lending anymore surely all resources are now put into settling claims
Sara (Debt Camel) says
They are in solvent wind down, not administration. And administrators are pretty slow too.
M says
Hi Sara
Hope all is well. in regards to Amigo, what is happening in terms of the money in the account where we should get back everything we paid from date we initially claimed? Sorry I can’t remember the exact name of it, you had mentioned it before!
M
Sara (Debt Camel) says
Nothing is happening until decisions on claims are made.
carlos says
Morning all,
just had clear score mention that amigo is removing report off my record…i hope it dont go debt collectors.
but it still on my credit karma… lets hope it’s good news for all of us
Rory says
Hey Carlos. This happened to me earlier in the year – I got excited but nothing came of it. I might mean they’ve stopped reporting or changed how they report. Mine is still showing on Equifax to this date.
Alana Wright says
I too have been following this outcome for quite a long time now. I’ve been hoping that my credit score would have been updated so I emailed them today and got this response :
Thank you for getting in touch.
I’d like to apologise for the wait. We appreciate your patience throughout this process and the good news is that we are hoping to send all scheme outcome letters by the end of August.
While we don’t have an update for you just yet, rest assured, we continue to work hard to review each claim in full to ensure we’re reaching the correct outcomes.
Please note that if your claim is upheld, we anticipate making the first interim redress payments in late 2023. This is because we cannot do our calculations until the Scheme has ended and we know how many upheld claims there are in total. As for any potential credit file updates for upheld claims, these would also likely take place after the Scheme has ended.
For more information, please go to
Sean says
I got the same response.
Although if my claim is upheld I will be requesting my file to be updated pretty much right away, well within reason 6 weeks or so.
As they surely can not report bad markers monthly when there is effectively nothing owed.
Lolly says
Hi All, I relatively received the same responses from Amigo noting that they will will be getting getting back to everyone that made a claim Aug/Sept and they are still working on getting the Comms out ( Weirdly at first I got the email from Reward Rate and then they tried to retract it but was updated with the Sender being from Amigo ). I just need this to be over and done with and off my Credit File as they took out a CCJ and I need that removed Asap as I was the guarantor.
Simon says
I’ve seen on the Facebook group an email from Amigo saying that they are hoping to send out all outcome letters between August and November. Can Amigo just carry on dragging this out for as long as they want?
Lucy says
I also rang Amigo, lady on the phone was actually very nice and completely agreed with how bad the service has been and that they do keep moving the goal post!!
I did say that they aren’t even issuing final responses yet and she said “no we have been, all rejections have been issued”
Obviously I said so does that mean mine has been upheld and she did try to backtrack slightly and say they might come across the odd one but no news is good news!
I’m not sure why they can’t tell the people as and when they have been upheld as half of us just want rectification on credit files as a priority, I don’t see why they need to leave people waiting for potentially another 3 months for them to do calculations that they should have been able to do from the start!
Craig says
complaint.info@financial-ombudsman.org.uk
Fed up with amigo loans pushing goal posts back we gone from end augest to next 3 months if everyone send fca a email surely they gotta look in to it we are stronger in numbers email address is start of this post
Hoping to get as many people as possible to complain to the fca so they have to pull there finger out and actuly get this sorted once and for all all ready got a fair few people contacting the fca from the amigo loans help groups on face book would like to get as many people as possible to complain
Sara (Debt Camel) says
yes but THAT IS NOT AN FCA ADDRESS. It is an ombudsman address, they are not part of the FCA and legally cannot look at anything in a Scheme.
try consumer.queries@fca.org.uk
Lee says
email sent to FCA, hope everyone else does aswell
Dan says
I have emailed also.
Its funny how Amigo are saying they are working hard to achieve the correct outcome for its former customers, if only they did that when offering the loans out eh!
Lucy p says
I am still waiting for a response. I have worked it out and my redress is around 27,000 ish maybe alitlle bit more. It is frustrating just waiting and not hearing anything from amigo themselves. I know they have had alot to go through however you would think a press release would be something they could do
Sara (Debt Camel) says
27k isn’t impossible but it would be right at the top end of what I have seen. It’s Worthing checking your calculation:
– you only get the interest refunded, not all the payments you have made
– if one loan was settling the previous loan, you have To be careful not to double count. The simplest way is to add up all the cash you received (so all the first loan, then just the extra cash bits for the subsequent loans) subtract all the cash you paid (monthly payments plus any final cash settlement paid by you, not settled as part of getting another loan)
Lastly if Amigo don’t uphold all the loans they are likely to add an unfair deduction for unpaid interest…
Alana Wright says
And that’s at 17p, right?
Sara (Debt Camel) says
The current best estimate is that 17p in the £ may be paid out to people with cash refunds.
Anna says
I’ve got a response from Amigo on 06.07.2023 coming from [an individual] at Amigos email address.
Was expecting to receive an email from amigoscheme, not from a person’s name , as this was very easy to be missed and deleted or considered as spam.
In the letter they are saying they rejected my claim for the loan and both top ups.
I will leave part of what they have said to me, sadly I couldn’t post much because it’s too long.
“ Our Decision
We have carefully considered the information available on Amigo’s systems, and any supporting information provided in support of your claim. Based on this information and the Scheme methodology, we have concluded that we are satistied that the loan agreements were attordable for you at the time they were entered into. Therefore, vour claim has been reiected.
Before entering into any loan agreement, a customer needs to confirm that they can afford the loan repayments. All customers were required to provide details of their income, all expenditure that they are responsible for, including priority bills and other credit commitments, and they also have to be able to demonstrate that they have a satisfactory ‘buffer’ of disposable income. This information is reviewed and considered, and if reasonable, the loan is approved. These checks allowed Amigo to demonstrate that the loan was affordable for the full loan duration.”
Sara (Debt Camel) says
I have removed the individuals name
How long ago were these loans? How large were they?
Anna says
I am sorry, I didn’t realise I can’t put their name
The first loan was 2017 for £4000- 36 months
2018 top up £4250- 36 months
2019 top up 5000-60 months
This is another part from the letter
“ 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 these loan agreements with you was not unreasonable, unattordable, 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.
Our decision comes without prejudice to any future position on this, or in any other case.
Sara (Debt Camel) says
I suggest you get your bank statements for 3 months before the loan and ech top up and submit an appeal with them
Ben says
I have a feeling they will reject most claims on this purpose
Kristina says
I borrowed £10,000 off Amigo. My circumstances changed so I was not able to pay the full monthly payment. I contacted Amigo loans and the declined a lesser payment. The asked if I could get my Guarantor to pay the remainder. Obviously I said no. In the end when there was less than £3,000 left to pay my mum payed it off. Because of not being able to afford the monthly payment I had to use money that was for my bills. I ended up not paying my council tax. In the end the council did attachments to my earnings. So that made me even worse off. Amigo loans have a lot to answer for.
Sara (Debt Camel) says
All guarantor loans are horrible – I wish the regulator would ban them or make them much more restrictive. No one expects a change in their circumstances or that they will have so few debt options when things get difficult.
I hope you have made a claim to the Scheme.
Alex says
I sent an email asking about where they are with claims. I also asked if it was correct that the people in the scheme that has their claim upheld would be getting a full 100% refund on the payments made since Dec 2021. They didn’t answer this question, and only stated the 17%. Am I correct in thinking that this would be repaid in full or have I got it wrong? Can they also change their minds about this if it is the case?
This is the response I got from them.
Thank you for getting in touch.
I can confirm that we have commenced sending Final Response letters and we anticipate that all customers will receive their response as soon as possible.
For any upheld claims Amigo now estimates that the fallback solution is likely to produce enough cash to pay approximately 17 pence for every pound of compensation due.
I’m afraid I’m unable to confirm when your specific Final Response will be sent.
We will be in touch via email if there is an update.
Thank you for your patience,
Elysse @ Amigo
Sara (Debt Camel) says
For any upheld claims Amigo now estimates that the fallback solution is likely to produce enough cash to pay approximately 17 pence for every pound of compensation due.
that is a stock reply. It isn’t an answer your question about whether some payments on current loans may be repaid in full.
Alex says
I’ve asked them this question several times and no one has given me an answer, which makes me think they aren’t going to be paying people back in full that are still currently paying.
Sara (Debt Camel) says
That’s wrong – the pence in the pound only relates to cash refunds. There will be a full offset of any redress against any balanace owed.
Cj says
It was also my understanding that a full refund would be given to those who have a current loan over and have paid the initial amount repaid. The money was supposed to be held in separate acccount ready to be repaid back in fall
Laura Rose says
At this point I ain’t even arsed about a refund I just want my remaining balance wiped it’s crippling me paying it and still have a year left
Karl says
Can I please how people have had reply’s ? Was it an email or a letter. Also I’ve seen people saying any payments will be refunded if your claim is upheld, what payments and when from thanks
Sara (Debt Camel) says
do you have a current debt?
Karl says
Yes I’m in the offset scheme I’ve been in a repayment plan for over 3 yrs
Simon says
hi sara it said on my clearscore credit report that amigo loans would be removing theire loan today checked and nothing are they just playing with people
Richard says
Hi sara, I took out my one and only loan with these thieves in 2019 for £10,000. I’ve had no top ups and up to when I took eso in may I had paid back £8865. I’m concerned now that when I login to my account it says I’m now £788 in arrears. If my account does get upheld how would this affect any refund I would get and how much. But to be honest I’m like everyone else on here I’d rather just have my balance wiped out and my credit file cleared, the loan was for five years.
Sara (Debt Camel) says
if you haven’t repaid the amount you borrowed, if the claim is upheld you will still owe a small balance. Which you can then make an arrangement to clear.
I K says
Hi
I have just logged onto the claims portal and it is saying I have nominated a third party for this account and only they can make or complete the claim for me. Then there is another box where says third party access and code for them. I did not appoint any third party. I logged on a couple of months ago and last message was waiting on outcome. So don’t know where this third party has come from. Anyone else experience this? My guarantor was removed before Amigo went under as they shouldn’t have been a guarantor as they would not have been able to afford the repayments. So currently there is no guarantor on the loan.
Sara (Debt Camel) says
You need To contact Amigo and ask who the third party is as you have not appointed anyone
Richard says
Hi Sara, I made a mistake last night with the loan amount I said I’d had. For some reason I said £10000 but it was £5000. So I’ve paid back £8865 and have arrears of £788. How would this now affect the refund if my claim is upheld?
Sara (Debt Camel) says
ah! I was surprised as I haven’t come across Amigo letting anyone have equitable set off when they haven’t repaid as much as they borrowed.
In this situation if your claim is upheld all the interest is removed and this will get rid of the arrears, leaving a cash refund owed to you. So the arrears amount is just not relevant.
kieron says
Hi All – looking for some insight. I took an Amigo loan for bout 5k back in 2013 – i defaulted on the loan and my guarantor wasn’t in a position to pay. In 2017 Amigo took me to court and got charging order on my house – now here is the thing, they continued to report the debt as a late payment, I believe this should have been reported as a default to the CRA’s – I have since paid the debt in full earlier this year – my credit report states it will be reported until 2029 – 16 years since i took the loan!
I’ve emailed Amigo who say they do not have to report the account as defaulted – I’ve sent requests to the Ombudsmen, Experian & Equifax and i’m awaiting a response – just wondering what anyone’s thoughts are on this – my credit report has already been affected >6 years by this action but if they refuse to change it i’ll have another 6 years of misery – seems very unfair to be able to report this way.
Thanks,
Kiern
Sara (Debt Camel) says
Have you made a claim to the scheme?
Kieron says
I haven’t -so apologies if this is in the wrong area. I’m just looking for some advice
Sara (Debt Camel) says
This isn’t the wrong area, but there would have been a simple answer if you had made a claim.
And as you haven’t, there isn’t a simple answer. It is now too late to make a claim.
What Amigo has told you is wrong and against the credit reporting rules which say
“The default date must be consistent with that of the CCJ/bankruptcy or IVA”
The Ombudsman legally can’t look at this as there is a scheme in existence and all complaints should have been made through the scheme.
You could send Amigo a complaint and then send it onto the ICO as Amigo are in breach of the credit reporting rules. Whether Amigo will care what the ICO says, I have no idea as they are heading into liquidation.
Experian & Equifax (you would also need to contact the third credit reference Agency TransUnion as well) – normally when you complain to a CRA they just send the complaint to the creditor. It’s possible this could work, but that assumes the complaint is read at Amigo by someone who knows what they are talking about and who is prepared to do something to sort the error out. It is very possible Amigo will send this back saying it is fine and Experian and Equifax will pass that onto you.
In late 2024 Amigo will probably be past the point where they reply to the CRAs. Then you can make a complaint to the CRAs and ask them to “suppress” the record as it is incorrect. But that is a long while to wait.
For now, I suggest you reply to that email with the word COMPLAINT as the subject and point out the reply is incorrect and in breach of teh SCOR credit reporting guidelines. See what reply you get.
Lindsey says
Hi,
Is amigo selling off debts? I seen on Facebook post someone got an email from Lantern Uk.
Does that mean the claim has been rejected?
Sara (Debt Camel) says
I saw that. The poster didn’t reply to a question about whether he had made a claim to the Scheme or if it had been rejected.
Really at this point we don’t know anything.
Lindsey says
Thanks Sarah,
At this point I’m hoping no news is good news!! Like a lot of other people I’d be happy with amigo wiping my debt I’ve been in £11,950 arrears from 2020. They have never chased myself or my guarantor for payment.
Steve says
I’m in a similar situation not heard from them in a couple of year. Don’t think they’ll wipe it but hopefully my claim is upheld and I can negotiate something with the administrators. Think I owe just under 5k haven’t paid anything in a few years either.
Lindsey says
I was paying £365 per month (stopped 2020) and just went over some statements some months the interest added on was £575 seems like a everlasting debt. Really hoping to hear soon!!
Matthew says
Has anyone received a final response email or letter yet
I emailed amigo and they told me end of august would be when everyone would receive there response
Just wondering if anyone has yet as i am still waiting
Thanks again
Shelley says
I received an email yesterday saying my claim
Is being looked at and they requested 3 months of bank statements dating back to 2011 and 2012 for both loans, so have been on Barclays messaging service and requested these, will receive within 7 days so I can then forward them. The email said if they don’t hear from me by august 28th they will make their own decision. Hope that helps you
Ronnie says
I phoned the other day after reading the comments on this thread recently and decided to give Amigo a phone. The answer I received was “we have given up on saying when responses shall be issued due to the amount of claims, but we hope it’s not too long”. Appears they say anything to get you off the phone 🙄
Becca says
See I dont think this excuse is acceptable, they closed the claim line in November 2022, so they knew the max number from that date and every contest from them should just increase worst case that was taken from the max amount 🙄😩 It seems to me that they won’t pull their finger out until a regulator steps in which they don’t seem to be interested in doing.
It’s annoying that they can even report as missed payments in ESO, it should be reported as Q for query/complaint like other companies use!
Daniel says
Got told august 2024 at latest
Sean says
Whilst we initially estimated that we would be agreeing claims in the first half of 2023, due to receiving more claims than anticipated, we now expect to have sent all outcome letters via email within the next 3 months.
That’s the email I got.
My opinion is that nothing is going to come of this as its beyond a joke now.
Think Sara is the only one in our side and very good.
I’ve emailed the BBC and numerous media outlets and nothing back.
Country is in a financial crisis and I can’t renew my mortgage but the are reporting bad marks month on month.
Now at 9. 79 percent.
My only solice is knowing that some of the people that are working for them will be out of a job soon and will soon hopefully start to feel a pinch themselves .
3 years ago I put my complaint in.
Sara (Debt Camel) says
who is your mortgage lender?
aden says
Im in a similar situation to wanting to sell my house and apply for another mortgage but Amigo has got us all pinned down.
It seems all the authorities that can protect us have foresaken us. It seems i will be old and grey before this is sorted.
Karl says
Realistically they’re not going to give anyone any money back. They just haven’t got it, they owe to much. Look at the situation, they’re taking as much as they can while they can and get away with it. Does anyone including Sarah really believe they’re going to give customers back any money while their own creditors are first in line. The best we can hope for is they right off our debt instead of selling it
Sara (Debt Camel) says
Yes you will get some money back.
They have a lot in the bank for this. People that win their claims ARE their creditors.
The unknowns:
– whether you will win your claim (appeal if you don’t)
– if you only have some loans upheld, how large an unfair deduction they make “for unpaid interest” (appeal to get more loans upheld)
– what % will be paid to people owed cash refunds (balance reductions are paid in full)
– when balances will be reduced/cleared
– when refunds will be paid
– when credit records will be cleaned
– when any remaining balances will be sold
That’s a lot of unknowns…
But saying they won’t pay anyone anything is just wrong.
Ben says
I agree I think 95% of claims will be refused on some technicality of you signed an agreement saying to best of your knowledge that you could afford repayments
Sara (Debt Camel) says
Amigo would gain nothing by doing this.
Also see this comment: https://debtcamel.co.uk/amigo-fails-scheme-fallback/comment-page-2/#comment-514722
AmigoAmigoYeeHa says
It’s not the fact you signed an agreement.
The fact is the checks that Amigo did / didn’t do.
Google: FCA Amigo Final Notice and have a read of the PDF.
The Lending Process (4.30 onwards) goes into great detail on how checks were not done, systems/methods not up to industry standards.
An agreement means nothing if the processes behind it were against the rules, and in Amigos case they were.
People who get rejection letters should appeal and look at the above PDF document and put down points they believe the FCA has pointed out that Amigo did not follow with thier handing of the loans.
Ronnie says
Just phoned again and now saying by the end of November for the final outcome letters as they have had setbacks 🙄
Ruth says
When I try and log into the portal all I get is a white screen with ‘Welcome to Amigo Loans
Welcome back’ nothing else. Anyone know what’s going on?
Graham Moseley says
Did you manage to get onto the portal as I am having the same problem now
Ruth says
I did manage to get on by Googling amigo and getting a verification code. I’ve not received an outcome as of yet though.
Ike says
Hello Sara,
I just wanted to say a big thank you for all the advice you have given on this forum. I stopped payments in 2021 as I had paid far more than I had borrowed (paid £9,500 on a £6,500 loan, with more still to go) and I felt like I was throwing money away. Credit rating took a large dip but that was to be expected. I was strong in my conviction that the loan was unaffordable at the time I got it as no checks were actually done.
I filed the claim when the Scheme was announced and I heard back from them in June saying that my claim had been rejected. Reading their reasoning, it was clear that they had not bothered to actually read the claim that I filed. They claimed that they were happy that at the time of taking the loan out, I had an acceptable buffer of funds after paying it off each month and that I was aware of the commitments. I’m not sure how they worked that out.
Anyway I challenged the decision with evidence that showed that at the time, my outgoings were far more than my income and I was struggling to keep up payments even though they were made on time every time. I got an email today to say that after re-reviewing my case, they have changed their decision and that my claim will now be upheld! They will be in contact in due course re compensation and send me a final response. This has been a nightmare and I am just so happy to see the back of it. I don’t really care for the money tbh, I await when the loan is scrubbed from my record.
Sara (Debt Camel) says
that is very good news that you got a good result through the appeal process
Ruth says
That’s is refreshingly good news! Congratulations!!!
Matt bushll says
Amigo has no interest in responding back anytime soon, let alone settling accounts. Think about it, they have a very large sum of money that is earning a very large amount of interest.
If its I’m our pockets then they are not earning the interest.
This will go on for years ,the same as its been 3 years since my complete and nothing I’m return. Sad thing is nothing you can do about it.
Sara (Debt Camel) says
all the interest earned goes back into the pot to be distributed to creditors. This is NOT the reason for the delay, it simply wrong to suggest it is.
London edd says
Amigo are now selling off debt to try and salvage money to never pay anyone what’s rightfully theirs. I’ve received comms after a year of silence, stating that I’m now facing legal action
Sara (Debt Camel) says
do you have a claim in the scheme?
has your debt been sold – to Lantern?
Gabor says
Hi Sara,
I have a complaint sincs 2020, FOS sent it back to amigo scheme last year. I am a guarantor, the borrower bankrupted in 2020. 2 years ago I stopped to pay, waiting for outcome. Last year May the balance stopled to accrued. I don’t beleive Amigo would accept my claim, as they have rejected 3 years ago, why would they make differently?
If I would settle the balance now, and my claim later would be rejected, can amigo demand the amount, which has not been accrued since last year May?
As I have read above, the guarantor would get redress on the full amount paid back, not only the interest. If I would settle now, I would end up far better then in case it would be rejected.
If I settle now, my claim still would be still considered and if accepted would I get redress?
Sara (Debt Camel) says
Did you complain that that the loan was unaffordable for you? or for the borrower? or for both? did the borrower also make a claim to the scheme?
I don’t believe Amigo would accept my claim, as they have rejected 3 years ago, why would they make differently?
Because in 2020 Amigo complaint handling was extremely erratic. Now they have a process to go through and there is an internal appeal mechanism. One person has already had their complaint upheld by going through the appeal process.
Last year May the balance stopped to accrue.
It may have hit the interest cap – interest added cannot exceed the amount originally quoted for the loan.
the guarantor would get redress on the full amount paid back, not only the interest.
It is correct that the calculated redress for a guarantor is the full amount paid. But this is a cash refund – you would need to get it in writing from Amigo before making a settlement that this would be repaid in full rather than at 17% or whether the cash pay out rate is. As this is a very large amount of money, I would not make a settlement unless I had that specific assurance.
Gabor says
I made a complaint that the borrower was not affordable (the borrower didn’t bother to make the complaint, bit he gave me the bankstatements), his bankbalance was in minus prior 3 months of application, despite he borrowed from his bank £3000, 2 months before application, at the time of the applkcation he was already in minus. I sent in with my complaint his banksatements, which shows that he was gambling till lost all of his money.
Today afternoon amigo has done a quotation search on my creditfile, I guess they are looking into my case.
The loan was 10k, paid back already 9k before I stopled to pay and cancelled the CPA, balance showing 11800, and still 11 months left from the initial 60months.
If they would refuse, this means that I have to settle the 11800, or they will calculate additional interest on a top of it?
Sara (Debt Camel) says
Well that sounds like a good complaint to me and it is good that you have the borrowers bank statements to back it up. Appeal if it is rejected.
Do you know what the original terms of the loan were – 10k borrowed, how much to be repaid?
Gabor says
10k borrowed, 60 month £395 monthly payment. The first payment was delayed by 2 weeks, as the borrower asked for it but hasn’t payed so there was probably some extra interest. Currently it says £10671 arrears, £11898 balance to settle. I have made 23 payment, altogether £9085
In case I have to appeal, should I send the same appeal what I sent to the FOS 3 years ago?
Sara (Debt Camel) says
so that sounds like a total of £23,700 to be repaid. They can’t add more interest than that in total.
If you have to appeal, you should explain why the loan was unaffordable for the borrower and send the borrowers bank statements for 3 month before and 3 months after the loan. Those are likely to show that loan was unaffordable for him.
Ben C says
There is NOTHING any of us can do, unfortunately we all just have to wait and as frustrating as it is, thats that.
It will take as long as it needs to but i would imagine if Amigo dont follow through with their comments on refunds ect then they will face worse legal action. its probably in their best interest to pay and keep their word.
M S S says
Hi all,
Yesterday, I spoke with Amigo (Scheme-line.& collections department) and I was advised that final decisions are currently being sent out on a daily basis, this includes upheld as well as rejected claims and, claims are being investigated in the order which they were received.
Amigo also, advised me that by the end of November, everyone (300,000 claimants) should receive a decision, however, this date may run into 2024 due to “communication issues?”
With regards to my own claim, this was submitted back in January 2021 and as of now the claim has not been investigated (untouched).
Also, my guarantor (father) lacked the mental capacity to make any form of financial decision at point of inception, hence his liability was completely removed (2022), this being after a very detailed letter(s) from his Consultant Psychiatrist and GP.
Lastly, I fall into the equitable set-off ruling terms, I borrowed £10,000 (one loan) and have currently paid back, to-date £12,500.
Many thanks,
MSS
Samantha says
Hi all!
I wanted to share some hopeful news. On the Facebook group someone has been kind enough to share their response from amigo and it was upheld!
It detailed
Claim outcome: upheld total cash claim value = £3743.64
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full. You will only receive a small proportion of the Total Cash Claim Value through the Scheme, as a pence in the pound payment.
He said he had 5 paid in full loans with amigo
I hope this helps bring some reassurance!!
I’m still waiting on mine to have a response also
matt says
Spoke to a very helpful agent this evening.
He advised me that no responses have been sent out yet as all are still being reviewed, but still believe that all those that have their claim upheld will receive a response within 8 weeks. ( we heard that before ).
First payments are still on target to be paid in November, but this may be delayed due to the number of people that may appeal if claim not upheld.
The 17p in the pound was based of 100k claims being upheld , but advised that its likely to be half of that as over 200k of claims.
8p in the pound Ouch.
Ben says
Seen a few on fb group that have had responses now accepting claims so definitely coming just take a while
Lisa says
I am not shocked at all that it might be 8p in the £… and I wouldn’t be shocked if that drops even lower. I think even when Amigo had a vote to either liquidise or keep trading under a scheme Sara pointed out that their payout figures seemed very high and their numbers of estimated claims seemed very low. So for the price to drop to 8p… I’m not shocked. Furious that it has, furious that it’s taken them so long to sort all of this out… but if anyone is waiting on a good payout from them I think we’ll be bitterly disappointed. The best we can hope for is they hurry up and correct our credit files 🤷♀️
Jean says
I’ve had an email stating they are sending out letters over the next 3 months…
Shelley says
I’ve received this today so maybe getting somewhere at last.
Dear Shelley,
We are contacting you today regarding the claim that you have made, regarding your accounts with Amigo Loans.
Your claim is currently being reviewed, however, due to the time that has passed and in line with our data security policy, we no longer hold all information regarding the sale of all of your loan.
In order for us to complete a thorough investigation, we are asking for you to send us a bank statement from the time the loan was paid out and/or a credit file from the time. This is to help us assess your financial position at the time of the payout of the loan.
Your loans were paid out in May 2011 and February 2012
Ideally, we would like to receive copies of your bank statements covering the 3-month period prior to the above date.
If we do not hear back from you by 28th August 2023, we will continue to investigate with the information we do hold for you.
Kind Regards,
SchemeCo
Amigologo.png
Sara (Debt Camel) says
If you have The statements, send them in – they really support your claim. Most people don’t.
Shelley says
Hi Sara, thanks and yes I am. I’ve requested them from Barclays this morning and they are sending within 7 days. Fingers crossed hey 😊
Laurence says
This is good to hear as my original loan and top up were exactly the same dates as you and I have yet to hear from Amigo
I have, however, an expired CCJ from amigo plus continuously late payments still showing on my file 11 years later
Laurence
Sara (Debt Camel) says
if your loan is upheld, your credit record should be cleaned.
If it is not upheld, you need to appeal and also say that if your appeal fails, you want a default added back when the CCJ or issued “in accordabce with the SCOR rules”.
Phil says
I’ve just heard today that my claim is being upheld £6123 but I’ll only receive 17p per £1 an it will be paid mid 2024 shambles
Sara (Debt Camel) says
good to hear that some uphold decisions are at last going through.
Was this just for a single loan? Do you have a current balance? Are there any problems on your credit record that you want cleaned?
Phil says
Hi Sara
This was over 5 loans between 2013 and 2016 all loans have been paid off a while ago and there’s nothing on my credit file.
Sara (Debt Camel) says
and Amigo upheld all 5 of them? That is good.
Phil says
All 5 loans upheld yes.
Think they was all top ups after the first £100 loan.
£1,000.00 | 24 | 20/07/2013
| £1,500.00 | 24 | 30/04/2014
| £3,000.00 | 36 | 03/03/2015
| £4,000.00 | 60 | 10/12/2015
| £5,500.00 | 60 | 12/09/2016 |
Laurence says
That’s great news for you. Could I ask when you took out the original loan thank you
Lsa says
Sorry to but in, where any of them
Top ups? I also I have 5 loans between 2012/2019
Phil says
All 5 of my loans were upheld yes.
£1,000.00 | 24 | 20/07/2013 |
| £1,500.00 | 24 | 30/04/2014 |
| £3,000.00 | 36 | 03/03/2015 |
| £4,000.00 | 60 | 10/12/2015 | |
| £5,500.00 | 60 | 12/09/2016 |
Looking back I think they were all top ups obviously bar the first one
Phil says
I think if I remember correctly I repaid the final balance not long after taking out the last loan (got some inheritance) or the interest would of been a lot more
Leanne k says
Are you receiving 8% compensation too?
Phil says
Cash Claim Value | £4,368.00 | | 8% Compensation | £1,755.81 | | Total Cash Claim Value | £6,123.81 |
Looks like it yes
Lloyd says
I’ve got an ongoing claim I’m waiting for an outcome for (like everyone else here) and I can access the portal with my log in details (where it tells you if you’ve received a final outcome etc..)
I have however noticed, if I try to log in to the amigo app it says my credentials don’t exist, any one else getting that? Have they deleted accounts or something from their system?
Fed up of it all really, not even bothered with any form of redress/refund. Just want the remaining £900 of my loan (which is only interest) and my credit file wiped!!!
Lloyd says
Any ideas what rough date he made his initial complaint? Seems they are responding to people now in order of when claims were made apparently..
Sara (Debt Camel) says
I doubt that is right.
It is possible they have sorted claims roughly into a few types and within those go by date order. Or they may be prioritising one pile.
Whatever, knowing the answer to when someone claimed won’t give you any realistic help in knowing when you may hear.
Jordan says
Hi everyone,
Just a quick update as I know everyone is in the same boat.
I received an email today saying all 4 of my loans, (3 x top ups) which I paid off in full have been upheld and my claim was successful for just over £5500. I know we are looking at 17p per £1 but with a bit of luck we will all be receiving our claims sooner rather than later and finally put an end to the nightmare that is amigo loans!
Kirst says
From what I’ve seen, if you’ve made payments from the end of December 2021 (don’t quote me on the date, I might be wrong) those will be held and go towards your compensation. Everything after that amount will be paid at X pence in the pound. Hopefully Sara can confirm if I’m remembering correctly!
Also once this is all done and dusted Sara deserves a holiday from any talk of flipping Amigo 🤣
Sara (Debt Camel) says
It applies in some situations. But he hasn’t said anything about have a current or just finished loan at all.
Sherrielyn says
Hi all,
I have just received this email from amigo. I know that at the moment it’s 17p to a £. Should I accept or challenge it. Please advise. Thank you 😊
Claim Outcome: Upheld Total Cash Claim Value = £3206.92
PLEASE NOTE: The Total Cash Claim Value will NOT be paid to you in full. You will only receive a small proportion of the Total Cash Claim Value through the Scheme, as a pence in the pound payment.
We ask that you review this letter carefully, and log into our Scheme Portal at http://www.amigoscheme.co.uk to confirm if you agree or not with our decision, and confirm your bank details for any payment.
Sara (Debt Camel) says
have all your loans been upheld?
Sherrielyn says
Hi , yes they have all been upheld
Sara (Debt Camel) says
good.
In this case there is no basis to challenge it. They are dividing up all the available money between people with upheld claims – you can’t complain that it should have been more – I am afraid this is what the regulator was in the end content not to oppose and what customers voted for.
Sherrielyn says
Thank you 😊
Tom says
If a claim is upheld and it was from like 12 years ago, do they have to pay a 8 percent interest for every year for when the loan you took out, I am guessing this will be added on top of the claim amount you receive?
Sara (Debt Camel) says
The 8% is per annum. It is added to the total redress calculated – but you then only get a small percentage of this.
The 85 is NOT paid in full.
Leanne says
Hi,
Are these letters being received via email or post?
Thanks
Shelley says
I received it by email Leanne
Leanne says
Thanks Shelley.
Fingers crossed I get one soon then.
Richard Swain says
I’m trying to login to the Scheme website but, after entering my details I’m getting the following message:
“We’ve been notified of the error
The error has been reported to us, you can go back to the homepage.”
Tried logging into the actual Amigo website and after entering my details I’m just getting a blank screen.
Not sure what this means!
Sara (Debt Camel) says
have you had an email informing you of the decision on your claim?
Richard Swain says
No – but my hope is it is coming. Was interested to see if anyone else was experiencing the same.
Gareth says
Hi
I was a guarantor for my girlfriends loan of 8k which was took out in 2018. The APR was 49.9% and it was took out over 5years and was paid off early due to inheritance. There was 1 payment she couldn’t make prior to this and I had to pay it for her. I am also awaiting a final response letter but it is just frustrating with waiting so long. Do you think I will be entitled to any claim for compensation? The claim was submitted prior to the closing date so all is good regards to that
Sara (Debt Camel) says
If it is rejected, appeal this and supply your bank statements for 3 months before and three months after the loan application. If you have changed banks, you can still get these statements but I suggest you start now, so you have them to hand when you get the decision.
Sarah M says
Hi I’ve had this email, along with a text message and answer machine message, when logging on the scheme website its saying I’ve not had a decision yet, the name of the lady contacting me is xxxxxx, is this genuine?
Dear Sarah,
We’re contacting you today regarding a previous complaint that you made to Amigo Loans. Our previous communication to you about this complaint confirmed that you are owed compensation, as Amigo cannot be entirely confident that the loan agreement was affordable for you.
Due to the above, Amigo offered you redress. This redress consists of a cash refund of £2,135.03.
To date, we haven’t received your acceptance of this redress and we haven’t been able to pay this to you. Please reply to this email so that we can arrange refunding you this amount to be paid in full outside of the Scheme of Arrangement. If we do not hear from you, you may lose the opportunity to accept this redress and benefit from it.
Many thanks,
Amigo Loans
01202 629798
Sara (Debt Camel) says
That is the correct phone number for Amigo. I suggest you phone them and ask. If there is a link to call them in the email, do not click on that link but put the numbers in yourself – better safe than sorry.
Nico says
That is correct I received an email today stating the same information but different redress
Sara (Debt Camel) says
Have you phoned them up?
Susan says
Has anyone received an outcome who have an ongoing loan? Also they do not appear to have updated credit reports with missed payments this month. Has anyone else noticed this?
Emma says
I have an outstanding balance and am in equitable set-off currently. Amigo have not added a missed payment to my credit report this month. I am hoping this means something is going to happen soon!
Sammy says
I asked Amigo they said because I have an existing loan it will take longer but within the next 8 weeks. Customer service said it’s easier calculating for closed accounts and they only send out a specified number of outcomes per day. Also he said everyone has a decision already they are just getting through calculations.
If anyone has a differing answer please comment below.
Kristina says
I have not heard anything as yet