UPDATE
March 2025 – final scheme payment announced
Amigo has announced the last percentage payment will be 6.01%. Together with the first percentage payment, this takes the total up to 18.51%.
The amount you will receive will be a bit less than half the previous percentage payment you received. (If you have received 2 payments, the one from Amigo Loans was an “in full” refund for payments you made to Amigo after May 2022, and the one from ALL Scheme was the first percentage payment.)
These payments will be made in the next 3 weeks in batches. They will be paid in order of the date of the Amigo Decision email you were sent.
Mid August 2024
And the deadlines have slipped yet again. There are just under 4,000 people still waiting for a decision, or a revised decision after winning an appeal, or a recalculation.
There are also now (21 August), about 8,000 people where Amigo has wrong or missing bank details:
- this includes £1.7m of redress to be paid “in full”, and
- £2.4m of Initial Scheme Payments.
Most of these are people with loans taken out longer ago, so their contact details may be out of date too. And some people are worried the emails or texts they are getting about updating their bank details are a scam.
If you haven’t already been paid, check the bank account details on your Portal Account.
If these amounts are not paid by the time the second payment is made later in the year, you can’t get paid afterwards as all the money will have been distributed.
24 June 2024 – my overview:
- People who have not yet had a first decision email (FRL) If you haven’t had a recent communications from Amigo apologising for the delay you should contact Amigo urgently.
- People who have escalated a decision No-one has yet had a revised decision after winning an appeal.
- People whose defaulted loans were sold to Intrum before 2022 It isn’t clear whether cash refunds will be paid by Intrum or Amigo.
- People who are waiting for a “full refund” to be paid Some dates seem to have not been paid. Some people are still waiting for recalculations of the 8% interest and any recent payments.
- People who are waiting for the first percentage payment to be paid Some dates seem to have not been paid here as well. Some recalculations seem to be being done – I don’t know why unless Amigo messed up the numbers the first time!
- People who have been paid the first percentage payment (and any full refund) and are now waiting for the second one
Nothing will happen until the end of the 2024.
29 May 2024 – first scheme payment will be 12.5p in the £
- Amigo says “substantially all” claims have been determined and adjudicated – 99.2%
- it knows enough to be sure it can pay 12.5p in the £ so that is what it has set the Initial Scheme Payment Percentage at.
- you will get 12.5% of the amount on your Amigo email decision labelled Total Cash Claim Value or Scheme Cash Claim
- you will be paid this first amount within the next 30 days, or within 30 days of receiving an accepted Scheme Outcome, whichever is later
- Amigo says it will prioritise payments based on correct bank details being provided and age of the Outcome Letter issued (oldest to newest).
- Amigo is still saying at least 17% for the total amount to be paid, so that means 4.5p in the £ will be paid late in the year
10 April 2024 – 94% of decisions issued
- nearly a month late, Amigo still hasn’t quite reached the target of 95% of decisions it is said it would achieve by mid March
- it now expects to have issued over 98% decisions by the end of April, with the rest coming in early May
14th March 2024 – Amigo gives a payment timetable
Decisions:
- Amigo has now crawled up to 91% of decisions issued.
- they now say they expect to issue 95% of all decisions 22 March 2024, with the remainder being issued by mid-April 2024.
“In full” payments
- payments have started for the “In full” refunds;
- where a decision was issued on or before 1 February and you do not have a live loan, your payment should be made by the end of March
- where a decision was issued on or before 1 February and you do have a live loan with a balance outstanding, your payment should be made by the end of April
- where a decision was issued after 1 February, your payment should be made between mid April and end May
“Percentage” payments
- it still expects to be paying at least 17p in the pound to people expecting to get the “percentage” refunds
- it has rowed back from saying it expects the first instalment of the percentage payments to be made in April or May. It now says that it expects to “declare an interim dividend” in April or May – that is the percentage that it will pay as the first instalment, eg 10% or 12% say. And it expects payments of the first instalment to be within 30 days of making that statement about the amount.
- so they could be in June…
27 February 2024 – another delay to decisions & payments
- Amigo has still only got up to 88% of decisions issued
- it now hopes to have issued over 95% of decisions by mid-March 2024, with the rest being issued in early April
- Amigo expects to start paying the “in full” refund amounts at the end of February, but these will be done in batches so not everyone will get theirs then
- the payment of the first installment of the “percentage payments” has been put back to April or May with the final installment about 6 months later.
A reminder of who may get some “in full” refunds:
You have to have repaid at least the amount you borrowed.
From that point, you may get a full refund, not at 17%, depending on the date of your complaint/claim:
- you will get a full refund of payments made after 1 December 2021, if you had complained before that date;
- you will get a refund from the date you complained if that was between 1 December 2021 and 26 May 2022;
- you will get a full refund of payments after 26 May 2022, if your first complaint was in the Scheme.
1) only the statutory 8% interest added is taxable. Not the interest paid that is being refunded – that is your own money that you are getting back.
2) the statutory 8% interest added is taxable as savings. BUT everyone has a Tax free savings amount of £1000 for basic rate taxpayers and £500 for higher rate tax payers in a year.
4) in previous administrations & schemes, I don’t recall anyone having tax deducted from the 8% part which is paid out as a percentage, expected to be 17%. If this happens, Amigo will have to inform you of the amount of tax deducted and you may be able to claim some of that back from HMRC.
January 2024
- on 25 January Amigo admitted it has only sent out 75% of decisions. This is only 2% more than on 9 January.
- it says “We anticipated that all responses would be issued by the end of January 2024, however, the remaining work and complexities in assessing and calculating certain claims, especially for some claimants with outstanding loan balances, has taken longer than initially anticipated. Although responses are still being issued, and will continue to be, our intention is to issue all responses by mid-March 2024.”
December 2023
- the Amigo scheme page now says they have issued 71% of decisions
- Amigo has told some people with current loans to stop paying
- decisions for current loans are being sent out but not many so far
- if you have made recent payments, some may be refunded in full. In the decision you are sent, these are being called “set off refunds”. The “total cash claim value” on the decision is the amount that will be paid at a reduced percentage, expected to be about 17%.
- Amigo has issued 45% of decisions
- Amigo has been deleting a lot of loans from all three credit reference agencies . If your loans have been cleared, this is probably because your claim will be upheld. But this isn’t definite until you get the claim decision.
October 2023
- Amigo has issued 38% of decisions. It says almost all the rest should be issued by the end of December and they will all be issued by end January
- the process to remove CCJs will continue to March
- Amigo is confident the payout percentage will not be less than 17%
- it is now clear that Amigo not going to pay many borrowers where the loan has been upheld as unaffordable but the guarantor made some payments. This is ethically wrong and entirely unexpected – redress from mis-sold guarantor loans has never been handled like, by Amigo before the Scheme or by the ombudsman. You can appeal but it isn’t clear that this will succeed.
- the best estimate of the percentage payout is still at 17% but this can still change.
- Amigo now says: “We expect that the initial cash payment to customers will be in early 2024. We are unable to confirm the dividend and make interim payments until almost all claims have been decisioned in full, causing the delay from November, as previously expected. The final payment will be delayed until late 2024 (around the time that the business enters liquidation).”
September 2023
- the first rejections for current loans are going out. If this loan has caused you problems, appeal a rejection.
August 2023
- the first UPHOLD decisions are at long last being issued
- if only some of your loans have been upheld, look at an appeal. The first person has reported winning an appeal.
- some loans have been sold to Lantern. In most cases these are loans where neither the borrower or the guarantor made a claim.
March 2023
- Amigo has announced it cannot raise the money from shareholders so Amigo Loans will be liquidated. the Scheme continues in “Fallback Mode”
- Without the £15m from creditors, there will now be less money available for cash refunds.
-
When the Scheme was proposed in early 2021, Amigo said it expected people would get paid 41p in the £. So if the refund on your Amigo loans was calculated at £1000, that suggested you would get £410.
That never looked likely to me. Amigo always refused to say how it calculated the number and, crucially, how many complaints it expected to receive.
So I wasn’t surprised when the November Scheme Supervisor’s Report said that 210,000 claims had been received and that this was a lot more than Amigo had expected. With more claims and the same amount of money to divide, the estimate of refunds had halved to 20p in the £.
That November report also contained a new estimate of what may be paid in the Fallback option – 17p in the £. This is the best indication we have of what may now be paid out.
- it is now expected that Amigo the first payments may be made in late 2023 and there may be a second, smaller payment in 2024.
December 2023
- The deadline for making claims to the Amigo Scheme was 26 November 2022. It is now too late to make a claim.
Contents
Amigo’s Scheme – the background
Amigo’s Scheme of Arrangement is now in operation after it was approved by the court on 23 May 2022.
The Scheme was proposed because Amigo couldn’t afford to carry on paying full refunds to its borrowers and guarantors who were winning affordability complaints.
Amigo had proposed a different Scheme in 2020 that was rejected in 2021. Amigo has now spent nearly a year getting its current Scheme proposed. For more details on the first Scheme, why it was rejected, how the second Scheme is different, and the voting on the second Scheme, see Articles on Amigo Schemes.
In the Scheme, Amigo makes the decision about whether your claim should be upheld. If it is rejected or only upheld for some of your loans, you can appeal this decision to the Independent Scheme Adjudicator. You cannot appeal to the Financial Ombudsman.
Which loans and customers are covered by the Scheme?
All loans made by Amigo before 2021, including those under its previous brand name FLM, are included in the Scheme. For loans that were settled more than seven years ago, Amigo may no longer have the loan details.
Both borrowers and guarantors could make a claim to the Scheme.
The definition of “unaffordable”
A loan is only “affordable” if at the time the loan was given, it was likely that you could repay it on time and still be able to pay your other debts, bills and everyday living expenses.
If paying Amigo left you so short of money you had to borrow more or you got behind with bills then it was “unaffordable”. This often happened with Amigo loans as many borrowers were desperate to try to protect their guarantor.
Amigo should have checked that a loan would be affordable for both the borrower and the guarantor. For a guarantor, this would mean that they could make all the repayments out of their income and still be able to pay their own debts, bills and living costs. A guarantor who had a house may not have had enough spare income to repay the loan so it was unaffordable.
But Amigo’s affordability checks were very poor. That’s why they were losing 88% of cases at the Financial Ombudsman.
Amigo often offered top up loans and the checks on these weren’t any better, even though people were getting deeper into debt. Repaying the first Amigo loan may have left you in financial difficulty, so a top up loan may have appeared to be a good option, even though it made your debt situation worse.
What will you get if you win the claim?
When Amigo upholds a claim, it will tell you what the “redress” calculated is. You will only get paid a percentage of this, not the full amount (unless some of your payments are very recent).
Redress for a borrower who has a claim upheld
For a borrower with a repaid loan, redress will be:
- a refund of the interest they paid on the loan;
- plus 8% statutory interest;
- Amigo is making a deduction if your guarantor made any payments. If your guarantor has also made a claim, they should be refunded. If they haven’t then no one is being refunded for these amounts.
For a borrower with a current loan, redress will be:
- a refund of any interest if they have repaid more than the amount borrowed plus 8% statutory interest, otherwise, their balance will be reduced;
- their guarantor will be released;
- if there is still a balance after the reduction, you can make a lower affordable payment arrangement to clear it.
In addition, any problems on your credit record will be removed for loans that are upheld. This will include having any CCJ removed (the legal term is set aside) and removing the default showing on the debt with Intrum if your debt was sold.
Redress for a guarantor who has a claim upheld
A guarantor’s redress is the full amount they have paid to a loan, not just the interest, plus 8% statutory interest. And if there is a current loan, they will be released as guarantor.
Previously it had been expected that guarantors would be refunded if a borrower won a claim that the loan was unaffordable even if the guarantor had not made a claim. It has now become clear that Amigo is reducing the payments to the borrower and refusing to pay the guarantor where the guarantor has not claimed.
8% statutory interest
This number is NOT 8% of the interest you should get refunded. It is 8% per year from the time of the repayments until 28 February 2022. So if your loan was settled several years before 2022, you may get 20% or more added.
BUT you will only get a % of this redress
That redress figure may look great. But you are not going to be paid that amount, just a percentage of it.
Amigo originally estimated that at 41p in the £. If your full redress is say £3,000 that would have meant you will be paid 41% of that – £1,230. But a lot more people made claims than Amigo expected – 210,000. That has reduced the amount you might get to 20p in the £.
And with the March 2023 announcement that Amigo has failed to raise the money from shareholders, there will be less cash to be refunded. The amount is now expected to be about 17p in the £.
So from a calculated redress of £3,000 you may get £510.
Exception – full refund for “continuing payments”
Some customers will get a “full refund” of certain payments they made to the loan provided that they have repaid at least the amount they borrowed and their claim is upheld. These customers are due a full refund of payments:
- from 1 December 2021, if they had complained on or before that date;
- from the date they complained, if that was between 1 December 2021 and 26 May 2022; or
- from 26 May 2022, if they did not complain before the Scheme started.
This is set out in full in 6.33 of the Explanatory Statement.
The purpose of this is so that if your claim results in a refund, payments you made after the relevant date will be refunded in full provided that you have repaid more than the amount you borrowed. For a guarantor getting a refund, the “repaid more than you borrowed” test does not apply.
Here are three borrower examples:
- a borrower who made a complaint in March 2021 (so before 1 December 2021) and who at 1 December 2021 had already paid back more than they had borrowed will get a full refund of payments they made after 1 December 2021
- a borrower who made a complaint in March 2022 (so after 1 December 2021) and who in March 2022 had already paid back more than they had borrowed will get a full refund of payments they made after that date
- a borrower who made a claim to the Scheme in September 2022 (so after the Scheme had started) who by 26 May 2022 had already paid back more than they had borrowed, will get a full refund of payments they made after 26 May 2022.
What happens after you make a claim
The deadline for making a claim has now passed
Should you appeal a decision?
The deadline for appeals has now passed
Sale of loans to Lantern
Many remaining loans have now been sold to Lantern.
The loans are being sold as guarantor loans – the guarantor has not been released and if the borrower doesn’t make an arrangement to pay the guarantor will probably be asked to.
If you or your guarantor has a problem paying Lantern, talk to a good debt adviser – your local Citizens Advice or if you prefer phone National Debtline on 0808 808 4000.
Mike says
Hi Sara,
I’ve still not had a response back about my claim just yet, but just wanted your opinion on the following –
I’ve been paying £227.27 as a monthly payment, and no interest has been added since the 01st June 2022.
I have 1 payment left to make to clear my balance with them on the 1st September.
So that means I would’ve made 15 payments, with zero interest, does that mean ‘The Pot’ of money that has been set aside, I would get all that back?
ie 15 x £227.27 = £ 3409.05?
Thanks again for your help!
Sara (Debt Camel) says
The zero interest is when the interest added has hit the cap of the amount quoted at the start of the loan.
It has nothing to do with the point where money starts being paid into the “pot” put aside. When did you make a complaint?
Mike says
Oh right, that makes sense!
I first made the complaint back on the 1st Feb 2021
Gabrielle May says
Can I ask how long am I likely to wait for a response to my claim with amigo
James says
Not sure how helpful this will be for others but I have asked for a subject access request as I am preempting them rejecting my claim for 9 loans and I want as much ammunition as possible. I was surprised today to get as much details as I did. It included all recorded calls, notes from their system of the calls, copies of letters, internal documents showing what credit checks they did on me dated back to 2013 when I first took a loan out.
All really helpful as lots of details I would struggle to prove otherwise which’s shows discussions of missed payments etc and letters I have since thrown.
All I did was emailed and asked under GDPR rules I want to make a subject access request. Hope this helps others
AmigoAmigoYeeHa says
That’s interesting.
When I asked back in 2020 they said:
“Thank you for your email. as previously noted I have tried to locate information which we may still have on file. From this review I believe that due to the time which has elapsed the data may have been removed for data protection. ”
But then miraculously, after it went to FOS and application on the scheme, I was provided by the agreement number by them so I was able to create and view my account details (full statement, account number etc).
I’m not going to submit another SAR as I have written proof that they initially tried to pull the wool over my eyes to cover up their processes or lack of.
Holly says
Good morning I have received my refund figure and was wondering when the first payment will be made
Sara (Debt Camel) says
Possibly late this year.
Amigo Sucks says
Hi Holly,
Just a quick question. How were you notified of the refund. Was it by email or did you go onto the portal?
Thanks
Holly says
I got the email on the 24th August.
Sara (Debt Camel) says
While people wait for their decision to come through, this is a good time to look at whether you might be able to win other affordability complaints: not just about loans but also credit cards and catalogues (did the lender increase your limit too high when you were only making minimum payments?), overdrafts (are you in your overdraft all or almost all days of the months and has this been going for more than a year?) and even car finance.
See https://debtcamel.co.uk/tag/refunds/ for different complaint templates for the different types of debt.
It’s good to complain now, not wait until a lender goes into a Scheme or goes bust.
Julia says
Hi, is it possible you could help me have an understanding of this, I’m not sure if I should escalate it.
Thank you in advance
Amount borrowed £3,000.00
Outcome Upheld
Agreement claim values
Interest refund £719.69
Fee refund £0.00
Reinstated interest £0.00
8% compensation £0.00
Claim value £719.69
Amount borrowed £5,000.00
Outcome Upheld
Agreement claim values
Interest refund £1,338.00
Fee refund £0.00
Reinstated interest £0.00
8% compensation £0.00
Claim value £1,338.00
Amount borrowed£5,000.00
Outcome Upheld
Interest refund £871.99
Fee refund £0.00
Reinstated interest £0.00
8% compensation £585.56
Claim value £1,457.55
Sara (Debt Camel) says
so that looks like 3 loans , all upheld – is that right? (Amigo counts a top up loan as a separate loan)
There should be a couple of lines that say something like “Cash claim value £” and “Total claim cash value £” – what are those numbers?
Julia says
Hi yes all upheld, this is what is stated
Interest refund £2,929.68
Fee refund £0.00
Reinstated interest £0.00
8% compensation £585.56
Claim value £3,515.24
Cash claim value £2,929.68
Total cash claim value £3,515.24
Sara (Debt Camel) says
That looks fine – all the loans are upheld and the total cash calim value is the sum of the individual claims. I can’t see anything that looks wrong to me.
You should get a percentage of that last number 3,515 paid to you in the end. if the percentage is 17%, then you would get about £600
Emma says
I’ve received an email from amigo to say that I’m due a compensation of £££, I’m still paying my loan back got 8 months left to pay. Will the compensation amount be took off my loan balance or will the fund be put into my bank account
Sara (Debt Camel) says
Can you paste in exactly what they say about this money… there should be various different figures.
Also if you had more than one loan (including top ups as a seperate loan) have Amigo upheld them all?
Emma says
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 balance adjustment of £1502.28.
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,
No I’m still paying my monthly amount. I think I have 8 months left of paying. I’m just wanting to know would the compensation be paid off the loan or would it go straight into bank account t
Sara (Debt Camel) says
Ok, did you make a claim to the scheme? Did you have other loans that were not upheld? Has your guarantor been released?
Kirsty says
Hi I received my Decision email this morning but don’t fully understand this and unsure on what refund i would get.
| Amigo Loan Agreement | Loan Amount | Loan Term | Date Loan Approved | | 44598902 | £2,000.00 | 12 | 22/11/2018 | | 46440848 | £3,000.00 | 24 | 02/03/2019 |
| Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £1,598.42 | £0.00 | £0.00 | £203.71 | £1,802.14 |
| Cash Claim Value | £1,598.42 | | 8% Compensation | £203.71 | | Total Cash Claim Value | £1,802.13 |
Cash Claim Value = Claim Value minus any payments to the loan that you have not made.
Total Cash Claim Value = Cash Claim Value +8% interest as compensation
Sara (Debt Camel) says
did you just have 1 loan? no top ups?
Kirsty Brookes says
I had a top up also
Sara (Debt Camel) says
were the number you pasted in for the top up loan? what were the numbers for the first loan?
Kirsty says
Hi Sara
I had a loan for 2,000 then I had another loan for 3,000 what I pasted was what was included in email.
Sara (Debt Camel) says
so there is no mention at all of the 3k loan? I suggest you phone them up and ask them why…
Dino Andreas says
Sara
Do you think everyone will be notified by the end of August as they originally said or are they moving the goal posts.
Many Thanks
Sara (Debt Camel) says
I think that timescale has slipped
simon says
Amigo are saying November now
Paul T says
Feels a bit rubbish seeing they owe over £1800 but I’m only going to get about £300. Both claims have been upheld but I presume I may as well just accept and take the £300? Better than nothing I suppose
Sara (Debt Camel) says
If both your loans were upheld and the total cash claim value is the sum of the individual claims on the two loans then there is probably no reason to appeal this.
It is a bit rubbish – but that was the whole point of the Scheme so Amigo could avoid paying full compensation.
Ben says
Be grateful your getting something I’m still paying £395.25 a month half of which from my guarantee as we don’t want to make out credit scores any worse
Sasha says
Hi Sara,
I’m still. Currently paying fir the loan I have with Amigo. 3 payments left. You said mentioned that there will be a full refund for continuing payments being made after Dec 2021. How will this be repaid to customers? Will there be seperate letters or is the amount included in the outcome letters. I. Am yet to receive mine.
Thanks
Sara (Debt Camel) says
Until we see the first decisions about cases where this applies, I have no idea how Amigo will explain it.
Ruth says
Checked on Clearscore today and my (already poor) credit score has been battered by a reduction of 200 points because Amigo have removed the loan but added it as a new one. ☹️
Still waiting for a response to my claim but this has just heaped more misery on!
Tony says
Ditto absolute shambles
Gem C says
This is just disgusting now how everyone is being treated, it’s honestly enough to make people Ill, totally awful the way they have been able to treat people like this. And they are just getting away with it.
Even with claims being upheld the correspondence emails they are sending is all a load of waffle and no one properly understands any of it.
Totally unacceptable to be treated like this it’s a complete s**t show
Gaz says
Same thing has happened to me. They removed the loan but have added missed payment for August. Why would they do that?
Rachel says
Still waiting for some sort of reply all my loans are paid off have been a while now!
When will this ever end
James says
Does anyone know how Amigo are deciding how to respond to those with an upheld claim?
It seems they’ve already responded to people who’s claims they’ve rejected and now it’s the turn of people who’s claims are being upheld.
Is there a specific order they’re doing it in ie those with an outstanding loan will hear first vs those without an outstanding loan, or those with larger claims values will hear last vs those with smaller claims values?
Only curious as I had 8 loans + 4 topups between 2014-2017, all paid off in 2017. I’ve calculated potential redress for me of 15k plus – though of course 17% of that.
Have I not heard from Amigo yet because my cash redress may be higher compared to other claims?
Sara (Debt Camel) says
No one knows how they are deciding the order.
Frank says
Hi sara
I have a question relating to a comment I have read. Regarding asking for a SAR. I am thinking about asking for a SAR. But can’t help thinking this might delay any decision making process further.
Sara (Debt Camel) says
I can’t really guess. How long ago was your oldest loan?
David says
Hi
I activated equitable set off with Amigo in Nov 2021 as I has paid back more in interest than I owed on both amigo loans I had taken out, my current balance on the loan is £7826 with arrears of £6222, if my claim is upheld will this balance be cleared to zero, as they already confirmed i had paid back more than interest than what i owed and will any black marks be removed from my credit file.
Sara (Debt Camel) says
Amigo made some checks that you have repaid more than you borrowed before agreeing to equitable set off. In which case, yes your balance should be cleared if the last loan is upheld.
My reservations about this are
1) a lot of Amigo checks and processes don’t seem to always be properly applied and
2) if the current loan was a top up and the previous loan is not upheld I don’t know if Amigo took the “reinstated interest” charge into account.
Sean says
Hi Sara
Bit lost with the reinstated interest and I’m sure we won’t fully know until they start sending those decisions out.
But say we took out a loan, then had a top up. We only received the amount it was topped up to and the previous loan was closed on both their system and our credit file as loan complete.
So that leaves one loan payment for 1 loan, that was topped up yes but is still just one loan.
So how do they think they can even apply interest for a previous one.
Let’s say a the original loan was for 5 years but after 6 months you got a top up are they expecting 4. 5 years worth of interest for the original loan as that make no sense at all.
Plus that would be thousands and we would all be much worse off than we are now and it would drag on for years to come.
My case
Original loan plus 2 top ups should still just be one loan as the previous ones are closed as per credit file. And the only one open is the current top up. In eso £9700 balance, interest rate capped and can’t go up. Borrowed 9500 after 2 top ups. Paid back around 13500 already.
Sara (Debt Camel) says
See https://debtcamel.co.uk/amigo-unpaid-interest-remove-ccjs/ where I looked at this issue
Kayla says
This worries me cause I took out 4000 than I paid 2 payments, I then topped up to 10.000, less than 2 months later. iv now paid back around 13,500 but still have a balance of around 6500, payments have been paused, I imagine the second loan will be classed as unaffordable but no idea about the first it should be but if its not surely that will mean I will still owe them money. Hope they don’t do this
Maureen Walton says
What I don’t understand is if what people have been told is true not upheld first upheld second and those with current loans last to be notified until Amigo look at a loan they wouldn’t know the outcome this to me suggests there is no order or all claims have been done and they are releasing the outcomes in that order
Laura says
When I spoke to someone a few months back, he pretty much said all claims were being scanned by an AI, so I can only pressure this sorts them into piles. He did say obviously rejections were going out from that and the rest would be past onto humans. So I think this is how they know, maybe?
Jmc says
Back in 2020
I put a claim in 4 loans they upheld the first one then never upheld the 2nd and 3rd but upheld the last. It went to FOS ( they hung out for scheme) then they started the games that they are playing. If the first was upheld then the other 2 was not but last 1 was just shows what we are dealing with.
Frank says
I am just wondering if anybody else is having problems logging into the amigo scheme portal. I have tried different browsers and different devices. All I seem to get to is welcome back. And that’s all.
ed says
Hi
I have been having exactly the same issue for months trying different browsers etc no luck at all in logging into the portal
Katie says
I’m still waiting for a decision, I’m the guarantor for my daughter who ended up with a debt recovery order, so I got landed with the repayments, we both put a complaint in via our citizens advice, I’m still paying 100 a month, original loan was 5000 I’ve already paid over 6500 back, it’s a never ending nightmare, will I be released as guarantor and get any money back if complaints are upheld
Sara (Debt Camel) says
If your complaint is upheld (or your daughter’s) you should get back a percentage of the full amount you have paid. At the moment the only estimate of this is 17% but that could change a lot.
Graham says
Hi I had the same problem. I rang them and the problem was that when logging in they didnt recognise the mobile no they had an old one. Strange as I had been using my present no to log in for a month they updated the no and all good
Hope this helps
Frank says
Will give them a call and see what happens. Thanks for advice.
Frank says
Update gave them a call and I now have access, although issue wasn’t my number. And I have no real idea as to why I couldn’t access before calling.
Frank says
Update gave them a call and I now have access, although issue wasn’t my number. And I have no real idea as to why I couldn’t access before calling.
Katie says
Hi I have recieved my claim outcome
Interest refund £1342.35
Fee refund £0
Reinstated interest £0
8% compensation £303.33
Claim value £1645.68
Cash claim value £1342.35
Total cash claim value £1645.68
So at 17% I should receive around 270?
As I’ve had my claim outcome will this be paid in September?
I’m had 1 loan and 1 top up loan which I paid off early
Sara (Debt Camel) says
Are this the combined numbers for both loans?
Did your guarantor make any payments?
Frank says
Hi sara
I am still waiting a response to my claim. However can you give any info as to why amigo decided to look at all of my loans. Not just the one I complained about. I had 1 or 2 many years ago. I have no information about them myself.
Sara (Debt Camel) says
This “look at” is done by a computer program. It doesn’t involve a human spending any extra time on your claim.
By doing this, Amigo has avoided claimants having to make a decision about which loans were unfair.
FedUp says
I have been checking the portal every day waiting for an outcome today I logged in and it just says ‘error’ and takes me back to log in page anyone else having this issue? Im so frustrated and fed up with amigos lack of communication and desperate to get this resolved as I’m sure so many are but hoping an outcome is imminent as people seem to be getting them coming though now?
Rebecca says
Hi ive tried to log in and it says there’s an error and they are aware of it, not sure what’s going on. I’m also still awaiting an outcome
Sean says
Hi, are people getting notified via email or by checking the claim scheme portal? I login to portal and just says ive not received a final response letter which is true and hopefully im not the only one oblivious to the outcome at this stage and just have to wait some more.
Does guarantor also get notified of outcome or only if claimed themselves?
Sara (Debt Camel) says
My GUESS is (and I would be interested to have it confirmed) – the guarantor will be informed of the outcome of a borrower’s complaint if any of the following apply to an UPHELD loan:
– the loan is a current one – the guarantor should be released
– the guarantor has made some payments – they should be refunded
I see no reason to tell a guarantor if they will not derive any benefit from a borrower’s claim’
Claudia says
Hi, I haven’t had anything yet! I had a loan of about £9.5k with my mum as a guarantor. Sadly she passed and I paid the full amount off in 2019. She never paid for any of it. Will it still be me getting the notification?? I check the portal, emails everything multiple times a day! The money cannot come soon enough…. With this cost of living, it’ll take anything!
Lee says
Hi Claudia. Ive been waiting patiently too and finally received an email today. I’m getting a refund. Keep checking your emails and you’ll have to accept the deal or not.
Good luck 🤞
Lee says
I just received my settlement letter to agree to my refunds on my loans. No money is getting distributed until all claims done. Probably December for any money folks. But I’m due around £750 on their calculations. Be patient. Keep checking email. I got my email at 7pm.
Good luck 🤞
SP says
I am still waiting for my outcome, been checking my email and the portal everyday. No luck so far..
ed says
I still cannot log on to the portal, my mobile number is correct so what is going on? Also I have not heard anything at all, no emails (checked junk folder), no letter by post.
Lee says
Hi Ed..Try logging into http://www.amigoscheme.co.uk. it’s a different Portal.
Mlm says
Thank you for this, very helpful. I was getting the same error. Now I know I haven’t missed and email as this portal tells me a final response letter hasn’t been issued yet
Ed says
Thanks Lee, I had to call them as well as it was asking for my bank details, they already have them so not sure what this was about. They also said no decision has been made on my claim yet and could take 6 to 8 weeks, I am worried they may reject mine for some reason
Lamar says
Can someone please confirm what email address Amigo are using to send their claim decision. I want to check I haven’t missed an email.
Lee says
Hi Lamar. It’s a do not reply email unfortunately. I got my decision on Friday at 7pm in my inbox.
Good luck 🤞
Beth says
Hi, I’ve received an email saying I am due a cash claim for £3530. It says upheld and I have accepted.
Was this the right thing to do?
I have read that you only receive 17p for every pound! Does anybody know the reason for this? If I was to decline this would it get me any further?
Sara (Debt Camel) says
Were all your loans accepted?
Beth says
Hi, yes. I accepted a loan in 2019 I think it was? And I paid it off with another loan in 2020.
Sara (Debt Camel) says
The decsion about what percentage to pay will be taken at the end of the Scheme and will apply to everyone. Appealing your decision will not increase the percenatge that you get.
If both your loans have been upheld and there is nothing clearly wrong with the numbers, then there is nothing to appeal.
Claudia says
How much was your loan if you don’t mind me asking? Just trying to see what I could possibly get
Bethany says
My loan was for £5000, but the repayments were crazy. I think I paid £11,000 back.
Sara (Debt Camel) says
in that case 3530 does not sound like the right amount. Did your guarantor make any payments?
Ruth says
Aug 2020 I submitted. Stil waiting!
Also loan still open and in equitable set off
Mlm says
Out of interest, when did people submit their complaints? I submitted mine jan 21 and I don’t have a final response from amigo yet
Ben says
Feb 2021 still nothing
Sean says
November 2020 and nothing yet.
SP says
Same November 2020, still haven’t heard anything.
Claudia says
November 20 still nothing. I do wonder if they are doing smaller ones or newer ones first??
Lisa says
September 2022… haven’t heard anything either.
Mlm says
Fingers crossed we hear soon
Frank says
June 2020 and still awaiting a response.
Christine says
I submitted my complaint in June 2020 they stated that I owed them over £5000 then upheld all my loans apart from one which then they said I owed them just over £1000 which I won’t be paying as none of them were affordable, I have now got a company on my behalf questioning them and they have 21 days to respond, they are an absolute joke
Sara (Debt Camel) says
I have now got a company on my behalf questioning them and they have 21 days to respond
what sort of company?
Christine says
Hi Sara it’s a credit resolve company they have give them 21 days to respond
Sara (Debt Camel) says
I hope you aren’t paying them anything.
What do you think will happen if Amigo ignore this?
Christine says
They were looking me to pay £50 a month which is for them to settle some of my debt with the creditors surely I would of thought this would be a good idea as they sort it for you? Maybe I’m wrong?
Sara (Debt Camel) says
Which firm is this? If they think they can settle anything with Amigo they are probably clueless…. I suggest you stop paying them and take proper debt advice.
If you want to list your debts here I can suggest which one you may be able to win affordability claims for, which could both settle the debt and clean up your credit record.
ed says
Hi Sara
Have all rejected claims been informed by now as I am still waiting to hear from Amigo Loans but called them today and was told that they are still looking at mine and it will be 6 to 8 weeks before I hear anything. I already sent in all evidence such as bank statements/ credit file from when loans were taken etc Worried why mine is taking so long when a lot on here have already had a response.
Sara (Debt Camel) says
No one knows.
Lee says
You’re welcome ed 🙄
VITOR says
Amount of credit: £5,000.00
Loan Duration: 60 months
Account opened: 17/06/2011
that mine still wating i well :(
Craig says
Hi Sara,
I am currently awaiting a response from amigo on if my loan plus top up will be upheld but just wondering as i had loans with Wonga previously and got a settlement from then, in that instance they would have taken them off my credit file but can amigo still see that i had them as without Wonga on there it may make my credit file look better than it actually was? Hope this makes sense
Sara (Debt Camel) says
not any longer they cant. Did you keep a copy of your credit report with them on? Do you still have the emails from the Wonga administrators saying what loans you had?
Craig says
Yes I have my final response letter saying that 30 of the loans were accepted in the claim and 19 were rejected. Also has my final refund amounts on (although this ended up being 9p on the pound!). The last loan it had on there though was 2018 and got my amigo loan in 2019 would it still contribute to affordability factor?
Sara (Debt Camel) says
So if you have to appeal the Amigo decision – which you don’t know yet – then you can send that email in with your credit report and point out the Wonga loans have been deleted from the credit record.
Frank says
Hi sara
Top up loan to £5000 paid £6,800 ISH Back. When I decided to stop paying them because at that time they were not ring fencing the money. When they did decide to to start putting the repayments money aside.
Damage was already done to my credit file.
So I haven’t paid them anything since. what is the likelihood that this might impact their decision.
Sara (Debt Camel) says
not relevant to the decision about whether the original loan and the top up were affordable – that is a test carried out at the time the credit was given.
Frank says
Thanks sara
DM says
Has anybody in equitable set off received a response yet? Am still waiting on my response (5 loans from 2011 – 2019 – all top ups from the original)
Sara (Debt Camel) says
I haven’t heard of anyone with a current loan getting a response, equitable set off or not.
Mariann says
Hi Sara!
I am currently on a DMP with Amigo and I still have 4 payment left for them (January 2024). The original loan was £5000.
I am still awaiting to hear back about the claim which I’ve submitted prior to all this circus. If I receive an uphold claim before January, will they refund or potentionally ask me not to pay the remaining amount?
Sara (Debt Camel) says
Did you just have 1 loan, no top ups?
Mariann says
Only one, no top ups.
Sara (Debt Camel) says
When did you make a complaint? And at that point how much had you paid Amigo?
Mariann says
I’ve submitted my claim via Resolver on 4/10/2020. I received an email from Amigo on 09/09/2022 that “Further, to our previous update, we confirm that Amigo’s SchemeCo is still investigating your claim.”
I paid £6315 so far and I am still £828 “in arreas”. Guarantor never paid.
When the claim submitted I already paid back £3400.
Sara (Debt Camel) says
So if the loan is upheld the balance, including the arrears, will be cleared and your assessed refund at the moment should be 1315. Some of this may be refunded in full, the rest you will be paid a percentage… at the moment that percentage is estimated at 17% but that could change a lot.
JOSEPH says
I’ve just received my Amigo outcome –
Cash claim value – £10896.75
Is it confirmed at 17p per £ or is it still to be decided ?
Sara (Debt Camel) says
this is very far from being known. That was an old estimate. It could change a lot.
JOSEPH WICKES says
Is there a very rough ballpark timeframe for the payment to the £ to be decided at all – I heard September 23 then I also hear march to may 24
Sara (Debt Camel) says
My guess is there will be a new approximation issued later this year and the final one will be early 2924
Richard Swain says
Can’t tell if that’s a typo or just reflecting how we all feel with this farce haha.
I assume you mean 2024.
Sara (Debt Camel) says
Lol yes a typo!!!
Mlm says
Had my outcome from amigo come through @ 15.57, thankfully it’s been upheld.
Fingers crossed those still waiting hear something soon. The email came from amigoscheme_donotreply@amigoloans.co.uk if anyone wants to double check mailboxes
UpheldMe says
@sara, received upheld result for all my claims with a
total cash claim value of £12106 , does it mean i will only get 17% from these value which is £2058 ?
Sara (Debt Camel) says
You will get the percentage that is finally sett the last estimate of that was 17% – it could change significantly
Caroline says
Hi guys, still had nothing from amigo whether my claim has been upheld or not, can anyone advise me what to do? I can’t seem to access the portal either, any advice would be very grateful
Mlm says
I was worried like you as I only got my outcome yesterday. My linked to the portal didn’t work either, someone posted an updated one on here to review claim outcomes, it might be further up the thread. I checked on there and it confirmed my final response hadn’t been issued yet so I knew I’d not missed anything. Other than you confirming whether you have/haven’t missed the email, only left you can do is wait unfortunately and hopefully you hear soon. 🙏🏼
Grace says
I am a guarantor for a loan with Amigos for my ex boyfriend ( I know, such a stupid thing to do) obviously, we broke up, he stopped paying and I’ve paid more than £3000 so far, another £600 till the loan is fully paid. I initially complained in September 2020 and had no response so far. My question is, will I get everything I paid back? Or just the 17p per £?
The second question is, if the complaint is being upheld, and I’m being paid back, whats happening with the balance? Is there any chance I could ask amigos to don’t let him know that I’m being paid the redress? As I woudn’t want him to find out.
Sara (Debt Camel) says
Are you still making payments? Are these affordable?
Do you have any concern about domestic violence?
Grace says
Hi Sara, the payments are still affordable yes ( I’m paying £100/month) and no interest on it since I’ve agreed a plan with them.
I don’t want to stop paying in case the complaint is not upheld, however if it is, I don’t want them under any circumstances to let him know of that because yes, he’s not in his right mind and knows where I live and also he doesn’t know that I have an outstanding complaint with them. ( He didn’t complain, its only me who has)
Sara (Debt Camel) says
I think they may have to inform him as if your complaint is upheld, you will no longer be the guarantor. I suggest you should let Amigo know urgently that you don’t want him told because you are worried what he will do as he has mental health problems
Grace says
Thank you Sara, I’ve emailed them right now – awaiting their reply on this.
Luke says
Amigo are still estimating the 17p figure
Based on our current estimations, we expect that for every £1 quoted in the value of the cash claim, customers will likely receive 17p of this. As an example, if your cash claim value was quoted as £1000, you would likely receive a final payment of £170. This pence in the pound value is still an estimate, and is subject to change. This cannot be confirmed until all claims have been decisioned in full and the business wound down. We expect to be able to begin making payments before the end of the year and confirm any final payment due to you in mid 2024. We will contact you directly to provide you with further information about this.
Karl says
Hi Sara hope you can advise, someone on a fb group has had there loan sold to lantern and she asked if this is legal and what can she do and a firm called debt relief has said use the 3 letter method. Have you heard anything about this and if so does it work? Thanks
Sara (Debt Camel) says
It is legal to sell loans.
The loans are being sold as guarantor loans, which is also normal.
The three letter process is legal nonsense. It occasionally seems to work by accident when the debt collector doesn’t have the right paperwork. I would be surprised if Lantern can’t produce the CCA agreement for these Amigo loans. If you want to find out, send Lantern a proper request for the CCA, see https://debtcamel.co.uk/ask-cca-agreement-for-debt/
I don’t know who “Debt Relief” are but no real debt advice agency would advocate the 3 letter process.
Johnathan says
I was lead to believe that everybody would be notified by the end of August I just get no final response letter etc is it a post code thing or something and do not hope AI is dealing with the claims we’re owed a bit of respect too
Sara (Debt Camel) says
they had twice as many complaints as they expected so they didn’t gear up properly for this is my guess.
Michelle Stephens says
Hi
I have had all 3 of mine upheld so final outcome is £9279.34
The loans are all closed now so assuming nothing changes would i be looking at roughly £545 paid to me when the time comes?
Sara (Debt Camel) says
Where did you get 545 from?
Michelle says
17p to the pound the email said so i thought it maybe roughly that after everything taken off but know there is a chance % could end up being lower
Sara (Debt Camel) says
OK so 17% of 9279 would be just over £1500.
But the 17% may well change and could change a lot.
Leanne says
Could this change and be less than 17p?
Sara (Debt Camel) says
It could be a lot less. I am not saying it will be, but there is just no recent information on this.
Michelle says
Aw ok thank you sorry i wasnt sure what 17p meant appreciate your help on that
Lee says
Hi Sara. Quick question..is the 17p likely to go up or down in your professional opinion?
I’m clueless but thought the deadline for new claims are done and if anything it would go up?
Am I being too hopeful?
Thanks
Sara (Debt Camel) says
Amigo have refused to say what assumptions went into this figure so I don’t think I can say anything. But if it goes up, that probably means they are rejecting too many good claims…
Lee says
Thanks for your reply.
Will just wait and see now.
Sarah says
My guarantor loan was for 5k over five years not had any top ups if my claims upheld what sort of settlement figure am I possibly looking at
Sara (Debt Camel) says
How much in total do you pay to it and when did it end (if it has been settled)?
Sarah says
No I managed to settle it early my guarantee was my father who was an alcoholic I’ve young and stupid at the time of taking the loan simply wanted a new car my car rating wasn’t good so sadly I pestered my poor dad who unbeknown to me at the time also had poor credit and couldn’t hold down a job proper due to the drink which subsequently caused his death
I actually inherited from his life insurance policy a small about sadly I will live with the guilt of all this forever
Sara (Debt Camel) says
A sad story, but your dad would have been very happy if you get any money back.
Unless you you know the total you paid amigo – monthly payments plus the settlement at the end, it isnt possible to make a guess.
Sarah P says
The loan was set up oct 2018 and I paid 197.62 a month the last payment I made was to clear the loan which was in sept 2022 for £2224.97
Sara (Debt Camel) says
So if you paid 34 monthly payments (I am guessing from the date, you need to look up your payments to be sure) then in total you paid about £8925
That is £3925 more than you borrowed. So you will get back a percentage of that. The only estimate at the moment is 17% but it could be more and could be a lot less.
At 17% you would get back about £665
Alex says
I read a report saying that upheld claims that have been accepted now will be issued in September 2023 and later upheld claims with be March 2024.
Is this right?
My claim was upheld and I received my email about a month ago.
Sara (Debt Camel) says
What report is this?
Alex says
It was on a website similar to this with updates on the amigo scheme
Sara (Debt Camel) says
Ok well post a link here if you can find it. Otherwise it hard to say anything.
Liam says
https://www.angeladvance.co.uk/debt-advice-news/20230411-amigo-loans-is-going-into-liquidation#:~:text=However%2C%20an%20update%20on%20the,FAQs%20and%20find%20contact%20information. I believe they were referring to this, just above the highlighted part
Sara (Debt Camel) says
It looks as though they don’t know much about what is going on. For example that article says:
The arrangement puts a cap on the amount Amigo had to pay to each customer who was eligible for equitable set off.
which totally misunderstands what equitable set off means.
They are a commercial DMP firm (they charge a DMP fee when you can get exactly the same DMP with no fees from StepChange, Payplan or CAP). Like some IVA firms and some bad credit lenders they like to have newsy blogs as it helps their website in Google rankings. Doesn’t mean they know anything about it.
Ben says
This is nonsense as they don’t know how much they are going to pay in the £ until all agreed or rejected and appeals dealt with . No one is getting a penny till it’s all been agreed and all appeals dealt with also by their split payments seems to me like will pay all successful parties a payment maybe later this year and then the rest next year maybe maybe before full wind down
Luke says
Finally after years of waiting, I’ve got my decision. Only had the one loan, but glad to have got rid of them
Thank you Sara, looking at around £1190
Interest Refund | Fee Refund | Reinstated Interest | 8% Compensation | ClaimValue | | £6,319.20 | £0.00 | £0.00 | £684.66 | £7,003.86
caroline says
Hiya Sara, i have tried to contact amigo, to find out what is happening regarding my claim as i have heard nothing at all from them.
i dont know how to contact them to find out if my claim is being upheld or not, any advice on this please
Sara (Debt Camel) says
The contact details are in the article above
Vicky says
Is anyone still waiting on an outcome? Currently in equitable set off and worrying that there’s lots of claims been dealt with and I’m still waiting ☹️
Sara (Debt Camel) says
I haven’t seen any decision on a current loan yet.
Becca says
Why do you think they are leaving the open loans to last ? People credit files are being decimated due to ESO! It’s like they are doing it on purpose to cause as much detriment as possible and the regulator is just allowing it….
Sara (Debt Camel) says
I don’t know. They are more complicated and they are FAR more likely to be appealed, so if I had been running this operation I would have dealt with current loans first.
But Amigo don’t actually gain anything from destroying people’s credit records.
Ruth says
My loan is currently open and I’m equitable set off. I spoke to amigo last week and the guy said my claim has been look at at the beginning of the year and was straight forward but he said within8 weeks I’d get my letter and couldn’t tell anymore. But for some reason I haven’t heard still so don’t understand why
Sara (Debt Camel) says
a lot of these current loan loans should be VERY straightforward. I have no idea why Amigo is sitting on responses for them.
Frank says
Hi sara
Can you shed any light, on why amigo decided to go back through all loans with them. And not just the loan I complained about.
Sara (Debt Camel) says
Some combination of the following is my guess – why do you care?
It’s an automated process and this is the simple thing to do – nobody has to read your claim, everything goes through the same process.
It prevents problems arising if someone things “I just want the current loan sorted” and doesnt realise that if this is a top up loan and it’s upheld, then there will be a deduction made for “reinstated interest” which no one will have expected.
It’s the fair thing to do.
Jmc says
When do you think Credit files will be corrected.
Sara (Debt Camel) says
They won’t want to do them individually. If the decide to do them in batches, they could start anytime. If they just want a single batch, possibly end this year, early next.
Bobby Jones says
Hi Sara As if this company could stoop any lower ,I have just had a reply to an email I sent them on my friends behalf to state that I have no jurisdiction over my friends complaint .When he informed Amigo by email and over the portal that he wanted me to act on his behalf.The reason I have taken over the correspondence is my friend has learning difficulties.They know want him to contact them again,to go through the same process again.This is so annoying and unnecessary as they gave me an update in February of this year on the progress with his complaint .
Joe says
I got this email today. As I didn’t accept the first outcome
—————————————————————
Dear Joe, I work in the Customer Relations Team at Amigo. I’ve just attempted to call you to discuss your existing Scheme claim.I can see that you have escalated your claim outcome to our Scheme Adjudicator and I was hoping to have the opportunity to provide some clarification in regards to some points you have raised regarding the redress within your reasoning for escalating the claim.Firstly, I’d like to thank you for your patience whilst we have reviewed your claim. I can see that we have fully upheld your claim and you are now due redress in line with the Scheme.Naturally we would like to compensate all Customers fully, however, we do not have the funds available to do this, hence why we applied for a Scheme of Arrangement to ensure redress is fairly shared amongst complainants. In line with this we estimate that Customers will receive 17p for every pound owed. The final amount you will receive will include 8% statutory interest.In line with our current estimations, we estimate you will receive approximately £170 for every £1,000 owed.Had Amigo not applied for the Scheme of Arrangement, a very large number of Customers who had claimed would have received no redress at all. The Scheme has given all Customers the opportunity to raise a claim and to receive an equal proportion of redress.In addition to cash redress, I’d like to assure you that as your claim is upheld, we will remove any negative impact the loan has had on your credit file. For example, if you have received any late payment markers, these will be removed in due course.I appreciate you may be receiving less redress than you would like, however, escalating your claim will have no impact on how much redress you receive. The Adjudicators will only review whether the outcome to your claim is correct or not. They will not be able to determine how much redress each individual complainant receives.I hope I have been able to clarify the points you have raised within your escalation and if satisfied, can you confirm if you wish to still escalate your claim to our Adjudicator or not.If I don’t hear back from you by 08/09/2023 I will assume that you still wish to escalate your claim outcome.
aden says
Hi
At long last I have had a outcome from Amigo and it is unfavourable. I tooknout 1 loan with amigo back in 2017 for 10k i have approximately £10k left on the loan. I have been unsuccessful on my claim. I was in debt management at the time and really neither me or my gurantor could afford this.
Do I appeal this decision or do i start making payments to them.
Sara (Debt Camel) says
Appeal. Get your bank statements from 3 months before & 3 months after the start of the loan.
Did your guarantor also make a claim?
Sean says
Did you go into eso?
I think a lot of us think this will be the outcome for us.
Really hope your appeal works out.
Nobody deserves to be in amigos grip anymore.
aden says
I was in ESO
Thanks mate. good luck with your battle with amigo
aden says
Hi yes guarantor also made a claim
Sara (Debt Camel) says
Good, that gives two ways for the guarantor to be released, if you win your appeal or their claim is upheld.
zoe tunmer says
Please can someone confrim if they are in ESO or were and have had a claim upheld.
Sara (Debt Camel) says
I have seen several rejections for people with current loans yesterday and today. One in ESO.
No upholds yet.
But I don’t think ESO is relevant to the decision.
Laura says
Should I be worried that they seem to have moved onto current loans, and I haven’t heard about my settled ones?
Sara (Debt Camel) says
No.
Lauren says
I have just received my response. I am in equitable set off. My claim has not been upheld. They said I could afford it based on my credit report at the time, and my ongoings and outgoings. Really worried what is going to happen now. I am supposed to pay £360 a month and I’d be lucky to afford £100 a month. Terrified what this means for my guarantor as he is I’m his 60s now and working less that he was so not earning nowhere near as much. Will they put an order on his house? Will my loan affect his credit rating?
Sara (Debt Camel) says
They said I could afford it based on my credit report at the time, and my ongoings and outgoings.
Do you agree? If not, appeal this – see the article above for what to do.
Did your guarantor also make a claim?
The debt collector would have to go to court to get a CCJ before they could get a charging order on his house.
The Amigo loan doesn’t show on a guarantor’s credit record.
He may need to take debt advice.
Lauren says
Hi thank you for responding. No my guarantor didn’t as we didn’t know he should have.
I’m not sure if I could afford it, technically I suppose I could have as was working 2 jobs at 65 odd hours a week as I’m ashamed to say I had a terrible gambling addiction. Spending around £1000 or more a month on gambling. Even with my 2 jobs I racked up 40k of debt from gambling. Ended up with around 7 defaults and 5 ccjs within a year of the Amigo loan as I made sure I never missed a payment so my guarantor didn’t suffer.
Syed says
Hi,
Still waiting for a final response to come through, originally had £5,000 loan then top up in 2017 to £10,000, which I am still paying back due difficulty. I still have approx £3000 left to pay on it. Made my claim in around Feb 2021.