UPDATES:
Do not use the templates on this page for the following lenders, instead see the specific page:
- Amigo has set up a Scheme of Arrangement. The deadline for making a claim has now passed, see Amigo’s Scheme for details.
- Buddy Loans went into administration in September 2021, see Buddy Loans goes into administration.
- George Banco & Trust Two set up Scheme of Arrangement, the deadline to make a claim to this has passed, see Everyday Loan Scheme for details
- TFS Loans went into administration in February 2022, see TFS Loans goes into administration.
Guarantor loans are very expensive. Often the lender didn’t check properly that you will be able to manage the loan repayments without having to borrow more.
If proper checks would have shown that you couldn’t afford the repayments, complain! There is a template letter in this article to help you.
You can get an existing loan reduced so you only repay the amount you borrowed, or get a refund if your loans have been repaid. If your complaint is rejected you can send the case to the Financial Ombudsman (FOS) who is upholding a lot (90%!) of guarantor loan complaints.
If you are the guarantor not the borrower, read Complaining if you are a guarantor which has a different template letter to use.
Contents
What is an affordability complaint?
A loan is not affordable if paying it left you so short of money you had to top up the loan, or borrow more from another lender or get behind with bills.
Does this sound like you? Then make an affordability complaint.
Just making the payments doesn’t prove the loan was affordable! You may have been repaying with difficulty, taking out other loans, because you didn’t want your guarantor to be affected.
You can complain if you are still paying the loan or if you have repaid it all.
If you win your complaint:
- interest is removed from a loan you still owe, so you only repay what you borrowed;
- your guarantor is released from the loan; and
- you can arrange to pay the remaining balance at a reduced rate.
When your loans have been settled, you get a refund of the interest you paid.
What should the lender have checked?
Guarantor lenders should have checked the loan was affordable for you before giving you the money.
The lender should have made sure you were likely to be able to make the repayments for the whole length of the loan.
Guarantor loans are large financial commitments. So I would expect a lender to have asked for evidence of your income, to have checked your credit record, and to have verified your expenses.
Some things a lender may have got wrong:
- It doesn’t matter if your guarantor is well off, the loan has to be affordable for you!
- You may have given said your expenditure was lower than it was, because you were guessing or desperate. The lender should have checked your figures.
- If you were self-employed or had wages that varied, the lender should have looked at how your income went up and down.
- The lender should have checked your credit record to see all your debts. If you had recently taken more loans or missed payments/defaulted, the lender should have been careful as your position was getting worse.
- When you top up a loan, the lender should check the new larger loan is affordable. If the current loan was causing you problems or your finances had got worse you shouldn’t have been given a larger loan.
If you feel there was something else unfair about your case, add that into your complaint as well!
What would a “fair solution” be?
If the lender or the Ombudsman decides the loan wasn’t affordable, this is what happens:
- The loan has been repaid, then any interest you paid should be refunded to you.
- The loan is still outstanding, then interest should be removed from the balance that is owing, so you only repay what you borrowed. Your guarantor should be released from the loan. The lender should accept an affordable monthly payment from you to repay the rest.
- Any payments made by the guarantor are refunded to the guarantor, not to you.
Will a complaint affect your guarantor?
Complaining won’t affect your guarantor if you carry on making the payments. The guarantor shouldn’t be told you have complained unless your complaint is being upheld.
If you stop paying the loan when you make a complaint, the lender may decide to get your guarantor to pay it. If you don’t want this to happen, you have to somehow carry on making the payments even though it’s hard.
If you can’t afford to carry on paying and you don’t want to hurt your guarantor talk to a debt adviser about your options in this difficult situation.
Making an affordability complaint won’t make things worse, and it may help in a few months time, but it isn’t an immediate escape from your problem.
Think about whether your guarantor also had a good reason to complain – see Complaining if you are a guarantor for details. If they win a complaint, they will be removed as a guarantor, which would take a lot of pressure off you.
How to complain to the lender
A template complaint to use
Don’t use this for Amigo of Buddy – see the update at the top of the page.
For all other guarantor lenders, including ones that have stopped lending, send your complaint by email – here is a list of lender’s email addresses.
Use SAR AND COMPLAINT BY BORROWER as the email title.
Here is a template. Change it to describe what happened to you and delete what doesn’t apply.
Only put this in if it applies to you: I took a top up of [£2,500] in [March 2018]
Add a reference number for the loan or give some other details such as your date of birth and your address when you took the loan out.
Please send me a copy of all the personal information that you have about me, including but not limited to all credit record checks, a copy of my loan application(s) and recordings of all phone calls from me. You have 30 days to reply to this Subject Access Request (SAR).
I am making an affordability complaint. This loan was/These loans were unaffordable for me and you would have realised this if you had checked properly before giving me the loan(s).
Delete or change any of the following so they are right for you:
[You would have seen from my credit record that I had recently missed payments/had defaults/was in a DMP/IVA.]
[I was on a low income/My only income was my pension/benefits.]
[You did not ask me for proof of my income or expenses and you did not ask about my expenses in detail.]
[I get ESA/PIP/DLA but you did not ask me if I had any extra expenses because of this.]
[I had a gambling problem which you could have seen from my bank statements.]
If you topped up the original loan: When I topped up the loan you should have seen from my credit record that my financial situation had got worse. [delete if not relevant: You ignored the fact that I had made several payments late to you.]
If you still owe money:[I am asking you to remove the interest from the balance so I only have to repay what I borrowed, release my guarantor and allow me to make lower monthly payments.]
If the loan has been repaid change that to [refund me the interest that I have paid plus 8% statutory interest.]
If you don’t want your guarantor to be told: [I want to carry on making the normal monthly payments because I do not want my guarantor to be affected. Please note I do not want my guarantor to be informed about my complaint unless my complaint is upheld.]
You have 8 weeks to respond to my complaint before I send it to the Financial Ombudsman.
If you would like some help with this, then go to your local Citizens Advice.
Definitely send bank statements!
It’s good if you can attach bank statements to your complaint. Send three months of statements before each loan or top-up and two months afterwards. So if you had a loan in August 2017, send statements for May-September 2017.
These statements will show how unaffordable your loans were. Don’t worry if there is gambling showing on the statements – that helps your case!
Don’t delay starting a complaint if you are trying to get your bank statements – just add them later. But now is a good time to get the statements as they can help your case.
Also get a copy of your credit record if this will show defaults, that your debts were increasing, that you had a large overdraft etc. Download this and keep it.
What to do with your personal information (SAR)
Copies of personal information (SARs) are often sent out by post, so if you have moved, make sure the lender has your new address. You should get the information within 30 days. It is often sent on a CD with a password.
This information is not the lender’s response to your complaint. Most lenders will send that separate from the SAR, usually a few weeks later.
You don’t need to do anything with the SAR, just keep it safe. You have asked for it now so that you have the details in case the lender rejects your complaint or makes a poor offer so your complaint has to go to the Ombudsman.
Taking a complaint to the Ombudsman
If the lender rejects your complaint, go to the Ombudsman
Don’t delay in sending a case to FOS – it has to go within 6 months. And while you have an “open” complaint at FOS, the lender cannot take you to court.
Lenders seem to reject many complaints and hope you give up! So don’t be surprised if a lender says No, the loan was affordable or We based our decision to lend on your application which was inaccurate.
If the lender says No, or you haven’t had a reply 8 weeks after sending your complaint, send your case to the Financial Ombudsman (FOS) the best way to do this is by using the FOS online form.
This is free to do and easy – you don’t have to quote laws or regulations. You can just send FOS the complaint you sent the lender. And if they have replied and said something that’s wrong, mention that as well.
You don’t need to go into details – a short FOS complaint is fine. If you want to add more details, read How Subject Access Request information can help an affordability complaint. But you don’t have to do this.
If only some loans are refunded, is this fair?
Sometimes a lender will say that just a few loans are unaffordable and remove the interest. Which is good, but should it be better?
If the rejected loans caused you difficulties and led to you needing a top-up, send your complaint to FOS and say you think the earlier loans too should be refunded.
Are you likely to win your Ombudsman complaint?
The Financial Ombudsman is agreeing with the customer on 90% of cases!
It is much simpler to win a case at FOS than a court case. If a lender has already started a court case against you, Citizens Advice can help you get the court case “stayed” (that’s legal jargon for put on hold) while you take an affordability complaint to the Ombudsman.
Complicated cases & help with guarantor loan complaints
If you want help with these complaints, Citizens Advice can help. Every Citizens Advice has access to the national Specialist Debt Advice Service if this isn’t something an adviser has come across before.
Leave a comment below this article to discuss what to do or talk to Citizens Advice if:
- your guarantor has made a lot of payments.
- you have been bankrupt, in an IVA or a DRO – read guarantor loans & insolvency .
- you have a CCJ from the guarantor lender – read guarantor loans & CCJs.
- if your debt has been sold to a debt collector.
Do not use a Claims Firm or a solicitor that is acting as a claims firm. There are two good reasons why you should avoid them:
- they will probably do a very poor job. They are not experts. They won’t put time into looking at your personal case.
- if you win a case but still owe a balance, this is usually just reduced. But the claims firm may expect you to pay their high percentage fee immediately even though you have not received any cash refund and still have the rest of the loan to pay.
Can you get an overdraft refund?
Card limit too high? Ask for a refund
Complaints about bank & other large loans
Kelly says
Hi Sara,
I put a complaint into Amigo loans on Jan 31st. They haven’t responded to me so I forwarded it to the ombudsman. My guarantor and I have cancelled our direct debits and card payments and Amigo have continued to email and text us asking for payment and threats of leaving defaults on our credit records. I have emailed to tell them that I have an unaffordability complaint in and won’t be paying anything until I have a response but they’ve completely ignored me. I’m worried this will have a really bad impact on my credit record but I really cannot afford to pay the loan either. Do you have any advice? I’m hoping my complaint will be upheld and the negative marks will be removed.
Sara (Debt Camel) says
If you can’t afford to pay, what other option do you have?
Your guarantor’s credit record can’t be affected unless Amigo get a CCJ, and they should not start court action while a complaint is underway.
Kelly says
Can my own credit rating be affected?
Sara (Debt Camel) says
Yes if you aren’t making payments (unless you have got a payment break agreed because of coronavirus). But if you win your affordability complaint all negative marks will be removed from your credit record.
E says
Got word today from FOS that my complaint is being prioritised on mental health grounds. So hopefully things will start moving a bit now- it was over a month for me to get a response from them to get it prioritised. Its now 14 weeks since I put my complaint in (as of tomorrow) and Amigo still haven’t even looked at the complaint itself. Thankfully after many emails trying to get them to give me a payment break, they finally agreed this morning to give me a extended break until july- which while interest will still accrue etc, I am hoping we will be slightly closer to getting my complaint finished. Bit of breathing space now and not having to stress juggling the payment and everything else right now!
Martin says
Hi, is there a maximum time going backwards to my first loan I can put this claim in for? Ie my first loan was in September 2013 and topped up a few times eventually paying back and free of amigo march 2018
Sara (Debt Camel) says
Amigo will usually refuse to look at any loans of 6 years old. If you taje the case to the ombudsman, FOS udsually agrees it can look at older loans.
If Amigo were to offer to refund all your loans except for the first, that could be a good result for you and you may not want to bother going to FOS- it would depend on how much interest you paid on the first.
But that is all in the future and at the moment Amigo are hardly making any good offers. So get your complaint in and get the process started. As you are free from them you aren’t struggling to repay every month which makes the waiting much easier.
Martin says
Brilliant, thanknyou very much for the reply, so all in all a good all round result would be an offer of the final 2 loans?
Thanks
Sara (Debt Camel) says
I don’t know – there is a lot of difference between you having paid a few hundred interest o. The first loan and several thousand…
Ali says
Hi Sara,
I am going through a lot of stress and mental health issues
Reading the blog i can clearly see i have all grounds to show and prove I should not have not been given the loan due to my gambling habits and existing defaults on my credit (Amigo Loans)
However, I am in arrears at the moment
Is it a good idea to put a complaint through now?
I have paid them over 10k, and have another 7k to go – but the mental stress it has caused and still causing i cannot explain enough
It will give me the world if you can give me some guidance, really need it!
Sara (Debt Camel) says
Putting in a complaint in the short term doesn’t solve the arrears problem as complaints take many months to go through. But if you win tad complaint then interest is removed and you can repay any remaining balance at a lower affordable rate. So I suggest you start the complaint process now, as every month delayed pushes back the time you could be out of this problem, there is no reason to delay.
I suggest you add a couple of sentences onto the standard template complaint describing your mental health problems, any medication you are on, and ask for your case to be given priority because you are vulnerable.
What is your current financial position, do you have other debts you are still paying?
Who is your guarantor and what was their financial position when you took the Amigo loan?
ABP says
Hi,
I sent an affordability complaint to Amigo 11/11/2019, they rejected it and I sent it on the the FOS. Because of health it was prioritised and an adjudicator picked it up after a few weeks. The adjudicator requested the business file from Amigo, however they never sent it despite having the time scale extended. The adjudicator then made a provisional decision based on all the information I sent them including the final response from Amigo.
My problem I now face is that Amigo haven’t responded to that; they were emailed yesterday advising they’d be given until the end of the day; which they confirmed they’d work hard to get it.
Today, they have said they haven’t sent it and are still working on it and cannot give a timescale.
My issue is now the adjudicator will pass it to the ombudsman to make a final decision which I have been advised would be months of waiting before it even gets looked at.
I’m so stressed by this, I don’t know what else I can do it seemed to be moving quickly once prioritised but yet again Amigo are making this difficult.
Can you advise if anything else can be done?
Many thanks
Sara (Debt Camel) says
FOS should give your case priority at the Ombudsman level too.
The only other thing I can suggest is that you tell the FCA, Amigo’s regulator, how Amigo have dragged out your complaint even though the Ombudsman is giving your case priority because of your health.
If you want to do this, email consumer.queries@fca.org.uk and copy this to nick.beal@amigoloans.net and complaints@amigoloans.co.uk
—————————————————————-
Subject: Amigo (708284) very slow complaint handling even though I have health problems
Give your Amigo reference number, your name and address.
Summarise what has happened to your case. That FOS has prioritised your complaint because of [give details]. But Amigo have not even sent FOS your case file yet. Explain if the stress is making your health problems worse.
Say your case started in November and went to the Ombudsman in February [is that right?] so their slow complaint handling has nothing to do with Covid-19.
End by saying you think lenders who haven’t even bothered to send a case file to the Ombudsman should automatically accept adjudicator decisions because it isn’t fair to drag out complaints for vulnerable customers.
—————————————————-
There is no need to write a lot. Do put it all into your own words and you don’t need to exaggerate, just say what has happened.
You will just get a “thank you for the information, it has been passed on to the relevant team” reply from the FCA, you won’t be asked any more questions.
ABP says
Thank you, I will get that sent right away.
I am regretting my partner taking a loan out to settle amigo, I think if I still owed them they would do something about it.
Had an email just now from adjudicator confirming it is now in a queue for the ombudsman to make a decision.
Will keep you posted
Claire says
Hello I’m in excatly the same posion as you
Amigos have till thursday to get back to adjudicator! They have already had 3 weeks over there time.
If she has nothing back I will be put on the ombusman waiting list which will probably be another few months of waiting!
Like everyone else I just wanna get this sorted
Sara (Debt Camel) says
send an email to the FCA!
VH says
I’m exactly the same been dragging their heels since last October 2019. Been with My adjudicator since Jan 2020 and they have already given them 2 deadlines the second deadline is tomorrow 06/05/20. I called Amigo today and ask if it was likely to be dealt with but was told could not tell me either way.
I’m hoping there will be some decision today but seeing others response I’m not holding out much hope. I will update you if I get a response today.
I am assuming the adjudicator at the FOS Is who you are referring to.
VH says
Sara
Could you explain when the FOS take on Case and assigned to an investigator ? Is that the adjudicator and can you tell me does it then go for further ombudsman decision
Thank you
ABP says
Please don’t get your hopes up, they were quite rude to me this morning when I asked if they could give an approximate time scale. I can’t believe a company so big doesn’t have a way of sticking to deadlines and gets away with ignoring requests from the FOS.
If it was us owing them money they’d be hassling daily and making our lives hell – as I’m sure I’m not the only one to have experienced.
Will keep everything crossed that they do get back to you, please keep us posted
Holly says
Hi guys , I’ve put in an affordability complaint with buddy when it gets to FOS is it worth mentioning that they have been messaging and emailing me and my guarantor whilst we have repeatedly told them my guarantor hasn’t got a job anymore due to COVID and they have made it really hard to give us a payment break they have now passed it into management to see what they can do about the payment break but we are still getting calls and messages
Sara (Debt Camel) says
Yes, make it clear your complaint is about affordability but say how badly Buddy Loans have handled your and your guarantor’s request for payment breaks.
paul weeks says
I was on the phone to Amigo ( iM 15 weeks into my complaint) No response – But everything is ok as the person I spoke to at Amigo fully understood my frusration ( sarcasim here guys) – After refusing to put the phone down until I spoke to a senior manager anoutthis I was told that they are putting a new process inplace and that all irresponsible lending complaint would be looked into by the end of june ????
Sara (Debt Camel) says
I have heard that they are changing their complaint handling yet again. Until I see some results coming through it’s hard to place much credence on this.
I would like to see them
a) settling FOS adjudicator decisions promptly
b) either providing case files to FOS promptly or looking again at FOS cases pre-adjudicator decisions and settling them in line with what FIS would decide
c) paying attention to customers who are clearly vulnerable and treating their cases as priority
d) making decisions on complaints in line with what FOS would decide so few complaints have to go to FOS.
If Amigo started doing all that, then I think people would be understanding if it took them 10 or 12 weeks.
bryan says
Hi Sara,
Can you advise please? I had multiple loans out with Amigo and I am just finishing my last loan, which was a top up. My father acted as the guarantor and for the last year he has been making the payments from his account. I have been paying him, but the payments are coming from his account not mine. My question is that if the FOS upholds my claim, does my dad have to make a separate claim for the payments he has made for the last year?
Sara (Debt Camel) says
Amigo always used to release the guarantor and refund the payments the guarantor had made to him. But sometimes recently they haven’t. I can’t tell whu, if this is change of policy or if there was something unusual about these cases.
One option is to wait and see what happens, and if he isn’t refunded but the money is treated as though you paid it, you could then refund him? Would that work for the two of you?
Or he could put in a complaint now, so it is running, then when (if!) you win your case, you can ask for them both to be settled together? This will mean he gets paid the money he paid Amigo and your end up getting less or owing Amigo more.
H says
Buddy loans replied to my complaint within two days not upholding a £5,000 loan lovely so off to Fos we go
Karl M says
So after 14 weeks Amigo finally gave a decision on my complaint and rejected it basically on the grounds of, the guarantor didn’t have to step in Within the first 6 months and because the nature of my loan was debt consolidation, even though during the duration of the loan I received 2 ccjs for unpaid credit cards and 1 ccj for rent arrears of nearly 2k! Not to mention the payday loans I kept using, they wouldn’t known this if they’d bother to request any information from me, so not the answer I was after, I sent to FOS on week 8 and they emailed a few days ago to acknowledge the complaint so will just have to see where it goes from here.
E says
I find it extremely interesting that you have gotten a response at 14 weeks. Mine is over that and hasn’t even been looked at. I was told they were working through them in date order and that mine was in a queue behind ones that were sent in before mine. Shows they are full of rubbish!!
Karl says
I am 16 weeks and get the same response “your in the queue and it’s date order” said it takes less than a day to give a decision!
L says
I raise you by 18 weeks. Unless it’s because ours are more complex. I have no idea, but a lot of people are waiting a long time at the moment. The ombudsman hasn’t even picked mine up yet.
Sara (Debt Camel) says
Getting 3 CCJs during the term of an Amigo loan is an indication that the loan may well have been unaffordable in practice.
To win an affordability complaint, what matters is whether Amigo should have realised the loan was unaffordable when you applied for it.
For example perhaps the loan was affordable at the start but you later lost your job – you might then have got the CCJs and it would not have been Amigo’s fault that your circumstances had changed.
I’m not saying this to put you off – you probably have a strong case! – but saying this so that you know with the FOS case you need to concentrate on your situation when you applied for the loan.
carole says
Amigo are the worst company to deal with. Today i have received the same questionnaire AGAIN below but this time typed up on an email to resolver, i have replied saying i gave 2 years statements which gives all the details of income expenditure during the loans terms-
Has anyone received these questions again on week 8?
1. Did your financial situation change after the loan was paid out?
2. Were you aware at the time you applied for the loan that you wouldn’t be able to afford to repay it?
3. When did you realise your loan was un-affordable?
4. Why do you believe your loan was un-affordable?
5. We verified your income by using OI/ Income Matrix/ Doc Proof. The income stated at the time we paid out this loan you received £2,789.70, was this correct? If not, what is the reason?
6. The expenditure stated at the time we paid out this loan was £1,688.00, was this correct?
Sara (Debt Camel) says
oh! I think you are the first person to get these questions again – although they look a bit different.
I suggest you reply that you have already sent them your bank statements which show your full income and expenditure and how it varied so they can see everything.
You could add (if you feel like it and if this is correct – if it isn’t right for you, don’t say it or change it so it is!)
– You are basing your affordability complaint on your situation at the time the loan [or loans?] was taken out.
– You knew very early on that making the repayments was difficult. It was causing you problems and having to borrow more elsewhere (correct?) and later top-up (correct?). But you wanted to protect your guarantor so you felt you had to do anything to keep paying.
carole says
I already got the questionnaire where yes/no answers with similar questions on about week 2 of the complaint but these came through today typed up. I have replied saying all statements given answer all these questions plus what you have said above as that is correct for me. I kept borrowing to pay of debt over and over.
My guarantor has put a complaint in 6 weeks ago also and has heard nothing. My guarantor is the same one for all 4 loans and he cant afford to make my payments.
Bamboo are dragging their heals still too and not replying to any emails, after a manager for complaints department saying he is monitoring my account and how the complaint is progressing because i have been treated badly (his words) and wants to see the decision before it is sent to me, strange that i thought. Also strange that they cant break down the interest for all 3 loans and say they can only send statements summary’s of whats expected in monthly payments. So how do they work out redress i wonder?
George Banco – They want the full 8 weeks which is up at the middle of next week and i haven’t seen if they are fair in complaints on here. Only had 1 loan with them of £2600 in May 2018 and balance is still £1798 right now with £127 monthly payments which i have never missed one till now on payment break.
Stacey says
I got these type of questions and a mental health one as well as i explained was suffering with anxiety and depression. I put my complaint in end of january and had no response yet regarding complaint they wont put my account on hold at all as been unable to pay even before covid impacted my household. They iust keep pressuring me and said they cant accept a low payment and threatening court action . I passed it onto fos but feel that they are also very busy . And stressed now worrying about court etc
Craig says
Hey Sara I got this from amigo I sent them my complaint then emailed for updates got this today
A message from Amigo Loans
HI Craig,
Thank you fro your message, can you be more specific in what you mean and what is going on?
I can see that we have an arrangement in place with you to manage the account of £10.38 a week. From the message that you sent in the other day a complaint was raised on your behalf and our complaints team will get a final response to you as soon as they can and all you personal information will be sent t you within 30 days.
You advise in your message that you suffered with gambling when this loan was paid out, is this something you are still struggling with?
Before this loan was paid out you filled out an income and expenditure form where you confirmed all the figures were 100% accurate and after you had paid all you bill inducing your other creditors as we did check your credit file and we did check what other creditors you were paying at that time this loan was easily affordable for you
What shall I reply plz
Sara (Debt Camel) says
you had just asked for an update? When did you send them your complaint? Did you include bank statements?
What is your current financial position like?
Craig says
Yer was only on 30th April they email me on the 1st May saying they will acknowledgement of my complaint in 3-5 working days and up to 8 weeks to investigate but I have it had anything of acknowledgement yet.
Never include any bank statements. Going find hard as am not. Longer with bank now if I remember I belive I had 4 loans with company 2 x £500 and 2×1500 ( 1 stillmout standin of £180) out standin one I have number of time missed payments and set up different payment plans I have been Arrears Since 21st Feb. I have never had to get my guarantor to make a payment.
I have had to get few loans in pass but I have never earn a lot of money due to fact low wages I have had gamble problem that I have no control over.
I know. Amigo is a hard on and take upto 8 weeks what shall I reply to them thanks Craig
Sara (Debt Camel) says
OK, no point in chasing Amigo before 8 weeks – even then they probably won’t reply.
You need to try to get those old bank statements – you can from closed bank accounts. This may be key to winning this complaint.
I suggest you reply that you were told you would be sent an acknowledgement but it hasn’t arrived so you wanted to know why as you were worried but as they do have your complaint that’s good.
Sarah Naylor says
I made a complaint about two weeks ago and today they have emailed me today to fill in a questionnaire for some information they want, asking about my finances at the time of applying for the loan, I know I have read on this blog before to just reply with, you have all my information and bank statements,I look forward to hear about the outcome. Is this the correct thing to do?
Also, regarding the work situation, sorry I didn’t explain properly, I have had cancer but when I took out the loan I was unemployed and only receiving child tax credit as my only income with whatever my partner gave me as he is self employed. This has stopped due to covid 19 so I no longer receive money from him so am affected by it.
My partner because of COVID 19 is not working and hasn’t been for the last almost 7 weeks, we have no income coming since then just tax credits which we are using for food for the family until he gets back to work or might be eligible for the self employed grant.
My guarantor kind probably afford it which I think is why they gave me the loan to start with but I don’t think she should have to pay if I am affected by covid19.
Thanks
Sarah.
Sara (Debt Camel) says
Is this the correct thing to do?
That is what I suggest. You can reply in detail if you want, but I think they are just trying to make you feel guilty.
You do have a good case for a coronavirus payment break because your household finances have been affected by it.
Sarah Naylor says
Great, so I think I will just reply with you have my details and info, I just wanted to make sure it wasn’t a requirement to fill in this questionnaire.
Re: covid 19 break, I will email them again as they are conveniently ignoring my last email asking why they declined my payment break if I have been affected by covid 19.
Thanks
Sarah
Julie says
I had 3 loans with amigo –
2250 for 12 months in 2014, ( interest 810.84) which was paid off with a new loan for £7000 in 2015 ( interest 9600.20) which was then paid off with a new and final loan in 2017 for 10000 ( interest 13715) . I never missed a payment and still showing over 7k to pay.
HOWEVER, today I have received a letter from the FOS Stating that they agree with my complaint after Amigo refused to uphold it.
They have suggested amigo add up the total amount of money I received as a result of having been given all three loans. The repayments I made should be deducted from this amount and any over payment refunded along with 8% simple interest and negative information on credit file removed.
This would be a life changing game changer for me.. and amigo have been given 2 weeks to respond. But I’m seeing comments on here where they aren’t replying? Shall I not get my hopes up as it could be months and months more to wait ? ( the complaint was first raised in October last year)
Sara (Debt Camel) says
So far Amigo normally accept adjudicator decisions in the end , but some times they miss a few deadlines… so nerve-wracking but hang on in there!
Chris says
They have done that with my complaint, my adjudicator gave Amigo a 4th of April deadline and still nothing so it’s been referred to the Ombudsmen.
Julia says
This is worrying ! I fear that the longer they go on not responding the same will happen as it did to the likes of wonga!
My adjudicator has given Amigo until 21 May to reply.. He said when they inevitably don’t reply, the FOS implement their own process. so it’s going to be months and months before I hear… giving Amigo time to go under no doubt!
Bonnie says
Hi im sorry im on asking for more advice, was on here previously saying that my loan was sold to intrum. im always reading the comments to see what to do with this but with amigo its been 8 weeks since amigo acknowledged my complaint and said it would be another month . So i thought ill just send it to ombudsman. But ive not recieved the sar info yet do i need this? And now intrum are asking for information related to dispute. Sorry for all the questions
Sara (Debt Camel) says
You don’t need the SAR info – just send FOS your complaint.
re Intrum, I suggest you forward them a copy of the complaint you sent to Amigo.
H says
My complaint with buddy was rejected but they have asked for more info from my guarantor and she has asked to be released to hopefully good news for her x
Ali says
Hi Sara, Appteciate the reply
At the time I took out the loan, I had major gambling issues well over a year before and after the loan was accepted
– on the article above it states: If you stop paying the loan when you make a complaint, the lender may decide to get your guarantor to pay it. If you don’t want this to happen, you have to somehow carry on making the payments even though it’s hard
As i am currently in arrears and now given a breathing space due to coronavirus – i did not know whether to put a complaint through at this moment (shall I?)
The guarantor was a friend of mine (who was working full-time at the time) who now works less and I am not on good terms with, hence the last thing is for anything to go to him, about non psyment and a complaint – that is why I am hessitant in sending a complaint over
I am stuck with my guarantor questuoning and stressing me over unpaid monthly payments and amigo sending out messages to him (this is causing me a lot of anxiety)
I have 4 defaults on my credit and still paying debts off at the moment, i have had to lie about all my bills being fine because of the pressure that they may turn to my guarantor
I had gamblinh transactions at time of application
Do i have a strong case? And if i know for sure they will not turn to mu guarantor if i put a complaint in now while in arrears – i will do that asap
Thank you so much again,
Regards
Ali
Sara (Debt Camel) says
If you have a breathing space agreed, they shouldn’t still chase your guarantor – has that stopped?
If it has, then get your complaint in now and the first few months of your complaint will come under this breathing space.
I think you should send in your complaint regardless – it may not sold your problem quickly but if it takes months, that is still better than not getting started! Putting in your complaint can never mean you are in a worse position than if you haven’t complained.
Edward says
Hi Sarah,
I’m to week 9 now with amigo,
Got the 8 week email saying they are still looking into it and will contact again in a month, so sent to FOH
Only got the text message yesterday that they have sent the SAR and should receive shortly (so much for the 30 days)
Any way I’m still paying amigo at a decreased rate for now.
Can you work out so far if I win my case please,
Original loan £4000
13 x payments £195.16
Top up loan £7500
£3141.35 settlement of old loan
Pay out £4358.65
28x payment £296.44
2x payments £212.33 every 4 weeks now rather than monthly
Still paying and will say will be for a few months yet going by every ones else’s experience
Sara (Debt Camel) says
On those numbers I make it (and you or I could have typed in the numbers wrong so treat this as a guess not fact)
loan 1 – paid £1177 interest.
Loan 2 – paid £1712 interest so far and going up by £213 with each payment you make.
Cassandra says
Good morning Sara
I have sent an affordability complaint to Amigo loans, in regards to the following loans.
£3,000 in April 2013 – £147 x 11 months
Top up to £5000 in December 2013 – £197 x 50months
Toped up again to £5,000 in February 2018 – Current agreement – £197 x 26 months so far paid
They acknowledged my complaint within 24hrs, then on week 2 sent me questionnaire in relation to the top up £5000 from 2018 ONLY.
Does that mean that the 2013 loans have been thrown out as more than 6 years.?
Should I send to the 2013 complaints direct to FOC? If yes should I also include 2018 loan agreement complaint.
Should I answer the 3 questions….
1. Were you aware at the time you applied for the loan you wouldn’t be able to afford to repay it?
2. The income stated at the time we paid out this loan you received £3000.00 was this correct?
3. The expenditure stated at the time we paid out this loan was £1543.20 was this correct?
Many thanks
Sara (Debt Camel) says
“Does that mean that the 2013 loans have been thrown out as more than 6 years.?”
probably.
But you need to wait until you have the response about all your loans or it has got to 8 weeks. You can’t “split” a complaint and send half to FOS.
re their questions – have you sent them your banks statements?
Cassandra says
Thank you for the confirmation and such a speedy response!
I only sent bank statements from when the original loan is 2013 was paid out.
Should I reply by sending bank statements from the 2018 loan, 3 months before and 3 months after?
Thanks again.
Sara (Debt Camel) says
yes, reply ignoring the specific questions but saying something like “here are my statements from around the time of the 2018 application so you can see the full picture.”
Shelby says
Hi I took out an Amigo loan in 2016 for £6500 in total I have paid £17,000 in interest so far and still have a balance of £7450 ! I’ve been late paying it a lot of times because I’m a single parent and when I took the loan out I had post natal depression and a 4 week old baby I was £23,000 in debt if they had checked my file they could see that I had defaulted on every single loan and credit card a year before taking the loan out , I sometimes pay my loan instead of buying essentials as I’m too scared they will go to my guarantor I should never have taken the loan out I wernt in the right mindframe ! I have sent them my credit report from 2015 showing all defaults and all the debt and also a letter from my doctor showing when my anxiety and depression started I’m sorry to ask all this I was just wondering if I’ve got a case I have sent a complaint in last week and I’ve had loads emails from them asking do I need support and stuff I’m hoping they release my guarantor ,
I’m currently paying £257 a month .
Thank you
Sara (Debt Camel) says
You may well have an excellent case. They should have looked very carefully at your situation – a single parent with a very new baby with a very poor recent credit history.
As a vulnerable customer Amigo should prioritise your complaint. They probably won’t, so send it to the Ombudsman at 8 weeks and ask them for priority.
Shelby says
Thank you very much my mental health is going worse because I’m still paying it ,
Do you think I’m eligible for a refund ?
Thank you so much for your time thank you
Sara (Debt Camel) says
The word “eligible” suggests that there are simple criteria and everyone who meets them should automatically get a refund.
That isn’t how affordability complaints work. It depends on the details of your specific case.
But most single parents with a very poor previous years year’s credit record with a new baby are likely to struggle badly with any Amigo loan let alone a large one like yours… which is why I said you may well have an excellent case.
So it’s good you have sent your complaint in last week. And if it gets to 8 weeks with no reply or Amigo reject your case, send it to the Ombudsman, where in the last half of 2019, 90% of guarantor loan complaints were being won.
Amigo knows that many people applying for its loans are either desperate or have mental health problems which make it hard for them to assess their own finances properly. That is why the regulator says that a guarantor loan lender should have verified your income and expenses, not just assumed they were correct.
Shelby says
I took the loan out in 2016 my little boy was two weeks old I was desperate for money I lived on my own so you can imagine x
Sara (Debt Camel) says
I can imagine – and so can Amigo, lots of their loan applicants are in very difficult circumstances, which is why they should have checked the loan was affordable.
Shelby says
Does it matter that I was late paying loads and that’s why the intreast is so so much would I revive a refund on that also ? One month I was 10 days late so they charged me £647 intreast that month x
Sara (Debt Camel) says
If the loan is decided to have been unaffordable, then ALL the interest is removed from the loan – not just the interest at the start but any extra they added on.
But that is a very large amount of interest to be added in one month. If this has to go to the Ombudsman, make sure you tell the ombudsman that you want to complain about two things – first that the loan was not affordable and second that they have added so much extra interest on because you have been late paying.
Shelby says
How does the intreast be refunded if I’m still paying the loan so far
Took £6500 loan 2016
Paid £15,600 in payments already
Paid £ 13,000 odd in intreast
Thank you
Shelby says
Oh I have £7700 remaining to pay don’t know how that works !
Sara (Debt Camel) says
Don’t obsess about that, what matters is your complaint, not the extra interest they have added.
Sara (Debt Camel) says
If the loan is decided to be unaffordable, the interest would be removed from the loan so you only have to pay the £6500 you borrowed. You have paid £9,100 more than that, so that is your refund (plus a bit of some extra interest).
Annemarie says
I have put in a complaint which is very similar apart from being a single mum. I had depression and anxiety for 3 years and the time of my last top up 2017 I had been to see a counsellor and the doctor had increase my dose of anti depressants. I was in no state of mind to fully understand what I was signing for really. My mother was dying of cancer and I was looking after her and my long term relationship had broken down.
I also had more counselling in from September 2018
I have put in a complaint and have said that if they require doctors notes and proof I had seen a counsellor then I can give them to them but I haven’t been asked for this information as yet.
I also have got into debt with electricity and gas company before I would rather pay my loan so my guarantor isn’t involved. They stopped my payment which I didn’t ask them to do but after I have threaten I would go back to FOA they have reinstated my direct debit.
I’m not sure where I stand with it all but I’m hoping it will go in a positive direction.
Shelby says
When did you put your complaint in ? I do the same I pay my loan before rent sometimes it’s awful !! Xx
Annemarie says
Only about 4 weeks ago.
I did email FOA as well because I didn’t realise the process at first. They have sent an email back this week saying they are behind because of the current situation. I’m not expecting any response for a while but I’m not too bothered I am willing to wait. Amigo hasn’t asked for any doctors notes as of yet but I’m more than happy for them to access them. Good Luck will everything. Lets hope its sorted soon.
Jason says
Good afternoon
I have sent your Data Subject Access Request for yourself in the post today.
All calls and documents have been included on the CD. Due to data protection this CD has been password encrypted. I have sent this message to your primary email address and primary mobile number with the password to unlock the CD.
Now I dont have access to a lap top so what are my options and what does it actually mean I recived this on 1st of may.
I sent them my statements and my 10000 pound loan is completely paid off at a rate I struggled with but never missed a payment over 5 years.
What’s my next options as I cant get to read what they have sent me as its encrypted with a pass code but like i said during this lockdown i have no access to a computer
Thank you
J
Sara (Debt Camel) says
This sounds like Amigo? how long ago did you send them the complaint? If it was over 8 weeks ago, have you sent it to the Financial Ombudsman?
Jason Rock says
Yes was sent on Feb the 16th to amigo .
Then had a response 1st April saying that they would get back to me asap then received that email on 1st of may it dont really explain anything other then go on a laptop.
Was not sure if been successful or not.
I unsure if I should ring them.
Thank you
Sara (Debt Camel) says
I don’t think they have made a decision on your case. Phone them and ask, but I would be surprised if it is on that SAR disk.
If they say they haven’t yet looked at your case, send it to the Ombudsman now as they have already had 12 weeks.
Jason says
Thank you Sara will ring them tomorrow.
J
Michelle says
Hi, I am at week 18 and I haven’t heard from Amigo or FOS, I have emailed both of them For an update but Amigo just send a standard email and the FOS haven’t replied, I don’t think my case has even been assigned to anyone. Is this the normal wait time?
Sara (Debt Camel) says
Amigo seem to have stopped replying at all at the moment! Other people last week said they were at 17 weeks.
FOS there is really no “normal” at the moment as they have been getting a lot more Amigo complaints and covid-19.
You are on a payment break at the moment, hopefully you can that extended a month.
Have you encouraged your brother to also complain because you thought that the loan would have been unaffordable for him as guarantor with his erratic income? If he complains, then it is easier for you to not pay when the payment break ends.
frogman says
Hi Sara,
I have just got off the phone with Amigo, complained exactly 8 weeks ago, did not receive an acknowledgement or anything. I sent the complaint to complaints@amigoloans.co.uk and complaints.amigo@amigo.me. When I rang this morning, the agent I spoke to said it wasn’t received and he couldn’t see any records of it on my file. He said Amigo have stopped using those emails over a year ago. He has now logged the complaint this morning. The idea of amigo not using those emails are false because very recently, they encouraged my guarantor to use them. The agent said I have used the wrong complaint channel and it’s a start again basically. What do you reckon? Fire to FOS ?
Sara (Debt Camel) says
Did you get any bounce back to say the emails were not received?
complaints@amigoloans.co.uk is the address I have been listing and no-one else has mentioned having a problem with this. It is also the address that is listed for complaints on the FCA register, see https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000rIlodAAC
I suggest you send this to FOS now and tell them you can forward them the email you sent to amigo but they are denying that they have received it.
frogman says
Thank you very much Sara,
The email did not bounce back
I have already sent to FOS. Amigo probably missed the email and the guy I spoke to was trying to cover it. After he got off the phone, I emailed him and cc’d their main email hello@amigo or something and said the information he provided on the phone was false because I have evidence complaints@amigoloans.co.uk is still operational and that he failed to acknowledge that the complaint did get to them but they did not action it, and as a result, I am off to FOS. They came back shortly, apologising, and that they have now lodged the complaint (I had forwarded the agent the complaint email whilst on the phone with him).
Yes, I have explained in my complaint to FOS what happened. Thanks.
There is a parallel complaint from my guarantor at 16 weeks now, one would have thought it would make sense for Amigo to review them together
Hayley says
Hi, I had a guarantor Loan with amigo, I got into serious money problems and couldn’t afford repayments and either could my guarantor. It caused problems in our relationship as we are sisters. I begged numerous times with them to let me pay less or let me enter a debt management plan and was bullied by them into being told my sister (guarantor) would be taken time court. She complained to be removed. It got to the point I was feeling suicidal over the situation that a family member stepped in and paid it off and I am able to pay them off at a more affordable rate with. I interest. In the meantime my sister won her complaint with amigo to be removed after our grandparents had already settled the loan as during the affordability assessment for my sister she claimed her partner paid the bills and they failed to check that if she broke up with her partner could she afford repayments which she couldn’t. My question is am I able to make an affordability complaint even though my grandparents cleared the outstanding amount. Amigo were aware of how my finances were and how I was struggling and how my mental state was at one point and they new the money came from another family members as they called themselves and paid it over the phone for me.
Sara (Debt Camel) says
Yes, you can.
What was your financial situation at the time you took out the loan?
Tom says
Hi, just a quick query.
I emailed a complaint to Amigo from my Yahoo account, which is the email account registered on my Amigo account (I can login to their website using it) and the email address specified on the correspondence I sent.
Last week, Amigo ‘replied’ to my email but not to my Yahoo account. They sent it to one of my work accounts (which can be found on the internet). To the best of my knowledge, I have never given them that email address so I was very surprised that they had used it.
I replied to their email telling them not to use that address but to instead use my registered email and the one that I emailed them from.
They have today sent another email to my work account…
This could just be an error but it doesn’t feel like one. Is this a ‘tactic’ anyone has seen before? Is there anything specific I should say to them?
Thanks
Sara (Debt Camel) says
It could just be an administrative cock-up. I expect their complaints team is pretty busy and I doubt they have the time to be creative by hunting around the internet for work email addresses.
When you get your personal information back from Amigo, you may be able to see where the work address email came from.
Tom says
Thank you.
Jen says
I have just had some GREAT news! Amigo got in touch with the FOS and said they had reviewed some complaints and are now upholding them. Mine was one of them!
I got a call from the FOS this afternoon and an email to say my complaint is being upheld and will hear from Amigo with a final figure within the next 4 weeks.
Did not go to adjudicator (as far as I know), simply asked for my case file last week.
Hang in in there everyone, it is worth waiting and the strain of this will be over soon. Now to cancel that direct debit!
Thank you Sara, you have helped me claim from over 5 companies and this was the last one. I owe a lot to you.
Sara (Debt Camel) says
GREAT – let’s hope a lot more people here soon get that call.
Gemma says
That’s brilliant news Jen. Did you get a final outcome to your complaint before today? I’m in 19 weeks today no final outcome as yet from amigo but fos asked amigo for my case file 3 weeks and haven’t heard anything yet!
Jen says
Yes Gemma, I got my FR from Amigo at 12 weeks, but sent to FOS at week 8. I phoned Amigo every week from week 8 for an update.
I called FOS last week (2nd call) to see if they wanted SAR and an update on questions I asked Amigo on getting my Final Response. I sent both of these to the FOS last week.
MacLady, I put my complaint in 2nd Jan 2020. Then to the FOS at week 8.
The FOS last week said roughly 6 months timeline from original date sent to them, so you can imagine my surprise today.
Sorry it is taking so long with you Gemma, I really hope you get yours sorted very very soon.
MacLaydy says
Hey Jen,
Great news! When did you first put your compliant into Amigo?
Jen says
Replied above, sorry, didn’t know it would go above. Hope yours is sorted soon.
MacLaydy says
Thanks Jen,
Well done again! 1 final question, did you get it prioritised by the ombudsman?
Jen says
I did ask for priority based on something personal, but was told no
Sam says
That is amazing well done for hanging in there, im on week 15 now and been with FOS since week 8!
Im hoping to get an outcome soon but this post has helped and shows we can get a result it just takes some time!
Jen says
Yes, definitely, just have to be patient. The FOS are getting to them. They were so lovely on the phone and said were working really hard and from home.
Julie says
Hi.
Had a phone call today from the obundsman investigator. He agrees that Buddy should have done more checks before issuing loan and is recommending refund of interest plus 8%.
I’m gobsmacked!
Am I right in thinking if interest paid was 3763.24 then it will be that plus about 301 ( 8%)
Thank you
Julie
Sara (Debt Camel) says
Good! This isn’t final yet, Buddy have to accept it and they may choose to drag it out to the Ombudsman stage.
Am I right in thinking if interest paid was 3763.24 then it will be that plus about 301 ( 8%)?
Not that simple.
Have you finished paying the loan? If yes, when did you repay it?
If No, how much have you paid to it (ignore if buddy label this as interest or not, just the cash amount you have paid) and how large was the loan?
Julie says
Hi
Thank you
Yes finished paying the loan in October 2019.
It was taken out in Nov 2016.
It was for 5000 over 36 months.
There was also a note in the email from the obundsman saying ( should only have to repay the money she borrowed and had use of..) what does this mean?
Buddy used 1900 to pay the balance off a loan I had at the time with money shop directly so I recieived 3100 in the bank.
Thank you
Julie
Sara (Debt Camel) says
ok so you actually paid 8763.24 I assume hence you calculated the interest at 3763.24.
You should get the 8% per year on the interest you paid. The calculation is complicated but having paid off the loan in Nov 2019 (I assume), then my guess it will be at least £525.
should only have to repay the money she borrowed and had use of
That means that if you borrowed £5000 and the lender had paid a broker £300 as a commission for introducing you, the lender can’t treat that as £300 you borrowed.
But you had use of the amount paid to clear the Money Shop loan as well as the cash you received. So both of those amounts have to be repaid by you.
Julie says
Thank you for your help.
Now just to wait for buddy’s response. Hopefully they agree with the findings.
Thank you
Julie
carole says
Hi Sara,
Regarding my ongoing complaint with Amigo, i asked where my DSAR was and they have come back to me today regarding my this saying they have made a mistake it was not actually me who requested it on that 4 April, it was indeed actually my guarantor. They gave his full name and the date he requested this and what he requested and that they were sorry they got this mixed up. Surely data protection they should not be telling me that information about my guarantors requests during his complaint?
Sara (Debt Camel) says
did you use a version of the template letter in the article above? Because that asks for a copy of your personal information, which is your DSAR.
carole says
Yes i used your templates at all times, they saying it will be from today and 8 weeks they have. I just thought how terrible giving me the name of someone else and their information breaching data protection.
Sara (Debt Camel) says
Go back to them and point out you asked for this information in your complaint email dated dd/mm/yy.
carole says
Bamboo have upheld 2 of my loan complaints, however they called me today and said because i have not received the information i asked for at the beginning of the complaint they were going to uphold all 3 loans now. This is good news as it knocks 7k off in interest. They have now reduced my balance to £2,100 instead of £9,800 and released my guarantor. What i wanted to ask was about the 8%- do you only get that if the balance is wiped clear? because i still have 2k left with them to pay after they deduct, is that why i don’t get the 8%?
Sara (Debt Camel) says
It’s a bit more complicated than that, but that may well be a quick summary. How large were each of the loans and were either of the first 2 almost repaid at the point you took the top up?
carole says
This is all the workings out i got in the response email which one less than half a page of writing. –
Our records show that you have repaid total loan interest of £1,128.51 in respect of loan references GC545T and GC5Y6X and we will now offset this amount against account loan reference GC7CSQ. The loan advance for account reference was £4,108.46 which means that your opening balance for this loan will now be adjusted to £2,979.95. Furthermore, we can see that you have repaid a total of £809.75 against this loan to date which means that you now have a remaining balance of £2170.20 to repay.
I paid £2,349.65 in total payments to them since taking these loans out September 2018. I took out £2500 on 1st loan, paying 5 instalments of £121.74. Topped up again after this and received £700 cash in bank (unsure actual full loan amount)and made 6 payments of £155.20, topped up again received £1000 in bank making 5 payments of £161.95 which is the current loan i have with them. Above is there calculations thats it.
Sara (Debt Camel) says
Those numbers look a bit odd. If you can find out the full loan amount for loan 2 (ask them what the loan advances were for GC545T and GC5Y6X, one of them will be the right number) then I can look in detail.
vicki says
Hi .. My complaint is currently with Amigo .. has been well over the 3 weeks .. am i now better off taking to Osbusman ..if so how do i go about this ?
I had 3 loans about 6 years ago and paid them all off. PLEASE HELP
Thanks
Vicki
Sara (Debt Camel) says
Hi Vicki,
you can’t go to the ombudsman until Amigo have had 8 weeks to respond to you. It’s good you have paid the last one off, so you aren’t under pressure to pay them to protect your guarantor even if it is unaffordable. What is your current financial situation like?
Aaron says
I was told today my complaint has now been passed to the adjudicator and was wondering if anyone knows how much longer it will be from here? Currently on week 15 with Amigo and my case was prioritised with FOS 7 weeks ago. Thank you
Sara (Debt Camel) says
One person recently reported getting a decision after about 3 weeks, but really it depends a lot on how complex your case is.
PAUL S says
Hello Sarah,
Regarding my complaint with Amigo, they wrote to me at the end of the 8 week deadline and said they needed 4 more weeks. I didn’t respond, but immediately sent my complaint to the FOS, who have answered, saying they’ve received my complaint and will reply as soon as they can. I realise it may be a while, due to the current situation. Amigo have also missed their own four week extension. Would it be worth me writing to Amigo and offer to withdraw my complaint from them and the FOS if they agree to repay the interest on my two loans (which is a figure of over £4500) and I agree not to seek the statutory 8% extra? I just want the whole thing over as it’s shredding my nerves.
I still owe £1539. I understand that I have to pay back the money that I have had use of and I’m fine with that, but I’ve already paid more in interest on this second loan than I borrowed over both loans combined.
Thanks in advance
Sara (Debt Camel) says
I don’t know if Amigo are prepared to negotiate. But I also don’t know if your numbers are correct as I have seen too many people get them quite wrong…
Can you say for the first loan, what you borrowed? What monthly payments you made eg 5 lots of £121?
For the top-up loan, what did you borrow and what did you receive in cash? What monthly payments have you made so far?
PAUL S says
I borrowed £1000 originally, with monthly repayments of £48.79 until I topped up a further £3000, which gave me monthly payments of £118.57. I’m still paying this.
I totted up wrong. The £4500 figure is the interest I will have paid on the second loan after it’s paid off. Up to now, the amount of interest I’ve already paid on a £3000 loan is £4113.19, And that’s excluding the £3000.
I have a condition that causes me difficulty with numbers (I know that’s not an excuse, but it’s the reason I accepted the terms) , which made me think an APR of 49.9 meant I’d be paying back the original amount, plus the 49.9% on top for a total repayment of £4500. But it seems that it means that I pay back the original amount plus the original amount PLUS 49.9%. Do I have this right? Thank you.
Sara (Debt Camel) says
Can you say how many payments you made to the first loan?
And how many you have made to the second one so far?
And when you took the top-up, how much did you receive in cash?
“But it seems that it means that I pay back the original amount plus the original amount PLUS 49.9%. Do I have this right?”
No, that is very wrong, not close enough to be a helpful way to think of it.
PAUL S says
Yes, Just counted them up. for the original £1000 loan, I made 21 payments of £48.79. When I took out the top up, I received £2518.89 and have made 47 payments of £118.57 to date.
Sara (Debt Camel) says
so the interest paid on each loan looks like roughly (remember you may have typed in numbers wrong or I may have, this is just a guess)
loan 1 – £490
loan 2 – £2546
so a total of £3036 in interest that would be refunded to you.
The 8% interest would come to about £250. I am not sure offering to waive that would be enough for Amigo to agree to settle. No one so far has managed to negotiate with them.
PAUL S says
Ha. I thought I might have got it wrong, like I say, I’m rubbish with numbers. Thanks for straightening that out for me Sara. I thought it might be worth a go, but I’ll not bother if it’s going to fall on deaf ears. Just one last question. Do you think my case will be helped by the fact that Amigo missed the original 8 week deadline and now their own 4 week extension? I feel they maybe holding out pending administration…
Sara (Debt Camel) says
Do you think my case will be helped by the fact that Amigo missed the original 8 week deadline and now their own 4 week extension?
Not really. They have done the same with everyone. You will win your case at FOS on the merits of your affordability argument, not because Amigo have been very slow.
Emma says
Hi Sara. On week 13 one of my complaint with Amigo. Had a ‘courtesy’ email at the 8 week point saying they should have a response by the end of April (or sooner) This never happened, pinged a couple of emails telling them they were being very shabby and got back a quick ‘we have received your complaint, blah blah’. I’ve now gone to the ombudsman, but I just wanted to ask if it’s prudent to tell Amigo this or carry on waiting? Wasn’t sure if they will not issue a response themselves if the ombudsman is now involved? I have to say, like others on here I do worry that they will cease trading in the next few months and leave everybody in a ‘wonga’ shaped hole! Many thanks :)
Sara (Debt Camel) says
It won’t make any difference if you tell them or not so far as I can see.
Aiyesha says
Yeah, I used to worry about that but now I don’t, the way to look at it is, IF and it is a big IF, (they’re not exactly in financial dire straits) they were intending to go into administration, why suddenly start to uphold some complaints, like in Jen’s case above??….they could have easily just took her and any others they are now upholding down too with them, after all why uphold ANY at all if administration is the way theyre looking at going?. I wouldn’t if I was planning that so …can’t see that happening tbh, I think they are bombarded with complaints as people and claim companies realise they can, they simply can’t cope with the sheer volume!, they do have to investigate them all, not going to just blindly accept everybody’s version of events, I think the mentality of complainants is steering to a complaint being a done deal re a refund and to get in asap before Amigo go down…it’s not a done deal and judging by what they have done with Jen, that’s not the actions of a company going down, plus everyone panicking they’re going to be left out so constantly calling/emailing to make sure they don’t lose out is inevitably going to add to admin time…Jen’s revelation is a sign of hope for us all
Phum says
I’ve just had an email from my adjudicator to say that Amigo are offering a full refund as a good will gesture. I was due to send them my historic bank statements but I didn’t send them as I have had a family bereavement but they are still going to settle. Just sent my email back to accept now – not sure why they’ve had a change of heart so suddenly
Sara (Debt Camel) says
excellent – Jen yesterday had a similar good news.
Phum says
The email the adjudicator sent read like there was a few they have decided on and my claim was part of a bunch
Sara (Debt Camel) says
That’s good, let’s hope more people here are included!
Shahid says
Hi Sara
I have got a decision from the Adjucator. I have accepted it as it is in my favour.
However, I wanted to know, how often are these overturned? How often do these businesses decline the Adjucator findings and take them to Ombudsman?
Really nervous now and worried.
Any information will be helpful.
Sara (Debt Camel) says
is this Amigo? How has this changed from the offer Amigo made back in January?
Shahid says
Hi Sara
Thank you for your response. The Amigo one remains with FOS as it refunded majority to Guarantor.
This is about bank. The adjucator has upheld my complaint against a bank about credit from them whilst I was a student. How do banks normally respond to this? How long will it take if bank rejects adjucator decision?
Sara (Debt Camel) says
what sort of credit, a loan or a credit card? which bank?
Maria says
Hi Sara,
Amigo have sent me 6 statements for the loans with them as l could not open the CD or the winzip documents. Please would you be able to work these out for me if possible when you have a chance. l have put the loan amount settlement figure payments and top up figures.
Loan £5000 settled £4190 – £309.08 x 6
Loan £4000 settled £2643 – £247.20 x 13 topped up to £7000
Loan top up £7000 settled £3463 – £341.53 x 23 plus £700 extra
Loan £1750 settled £1439 – £180.53 x 3 topped up to £2250.00
Loan top up £2250 settled £1327 – £231.88 x 8
Loan top up £2500 active
Thank you so much
Sara (Debt Camel) says
Hi Maria, how many payments and how large have you made to the last loan?
Maria says
Hi Sara the last loan is for £2500 I have made 3 payments of £154 and am now in a payment holiday Until 27th July
Maria says
Hi Sara
Do you think amigo giving me a payment holiday will effect their final decision on my complaint
Sara (Debt Camel) says
No.
Maria says
Hi Sara
Can I have your thoughts on the figures above I’m worried that because I repaid the first loan early that will go against me and how much interest l have paid so far
Thank you
Sara (Debt Camel) says
Where did the settlement money come from for the first loan?
Sara (Debt Camel) says
Those loans are complicated and I want to check I have understood what you have said. So is each of the following right…
Loan 1 borrowed 5000, paid 6 lots of £309, then settled with £4190.
Loan 2 borrowed 4000, paid 13 lots of £247, settled with £2643 from the next loan 3.
Loan 3 (top up) borrowed 7000, received £4357 in cash, rest went to settle loan 2. Paid 23 lots of £341. And another payment of 700. Settled with £3463.
Loan 4 borrowed 1750 made 3 payments of £180, then settled with 1439 from the next loan 5.
Loan 5 (top up) borrowed 2250, receievd £811 in cash, rest went to settle loan 4. Made 8 payments of £231, the settled with £1327 from the next loan 6.
Loan 6 (top up) borrowed £2500, received £1173 in cash, rest went to settle loan 5. Have paid 3 lots of £154 so far.
Maria says
Hi Sara
The above is correct. The money for the first loan was settled by my dad.
Thank you
Sara (Debt Camel) says
And the money for the settlement of the third loan?
Where settlement money came from someone else, not you, they can’t harm your affordability complaints as they don’t show you could afford to repay the loans. The only problem here is if the money came from your guarantor and Amigo took the money from them, not from you.
Sara (Debt Camel) says
I make the interest paid on each loan as:
1 – £1044
2 – £1854
3 – £5006
4 – £229
5 – £959
the last loan you have only paid £462 so far, so you haven’t repaid what you borrowed. But if all the previous loans are refunded, then the refunds would be used to clear the last loan and you would get back c £7020.
Maria says
Hi Sara again for the third loan my dad
Sara (Debt Camel) says
was he your guarantor?
Maria says
No he wasn’t for any of the loans . He gave me the money and I paid it into my account and settled the loan. My mum was for the two and a good friend for the rest
Sara (Debt Camel) says
That’s fine. It only gets complicated if the guarantor paid it as Amigo may then decide to refund that money to the guarantor. But the fact your dad helped you out twice does NOT mean the loans were affordable for you so it shouldn’t have any relevance for your complaint.
Maria says
Thank you so much Sara fir all your help and advise.
I am not working now 6 weeks as my 3 weeks of work are finished and I’m furloughed and the other secretary who was off for 6 weeks takes over so l need to volunteer for something so I’m not thinking about this all the complaints constantly.
Thank you again
Sam says
Hi, with Amigo, im just trying to work the interest paid. When you do a top up loan is interest incurred when settling previous loan figure and giving you new funds?
Thanks
Sara (Debt Camel) says
Hi Sam, you asked About interest calculations before and I said “ You work out the interest paid on each loan separately. So loan 1 you borrowed X and paid a total of Y in monthly payments and settled it with Z from the top-up – overall you paid Y+Z-X in interest.”
If that isn’t clear, can you show me the numbers and I can do it?
So for each loan:
– how much did you borrow?
– if this was a top up, how much did you receive in cash?
– How many payments of how much did you make eg 8 lots if £121.
Ted says
Hi Sara, I’m at week 14 with my affordability complaint with amigo. I was given a case handler last week. She emailed today to say that she was pushing ahead with my complaint & amigo had till the end of mounth to respond. I’m just wondering if successful because my guarantor paid a few months when I was able too meet the dd what is process? As we are no longer friends.
Sara (Debt Camel) says
Did you repay your guarantor?
Ted says
Yes I did with a cash payment. No proof. But it was only 3 payments that they paid for me. Will they be contacted if I am successful with the case
Sara (Debt Camel) says
ok, so it isn’t clear what will happen. Let’s assume FOS decide the loan was unaffordable, otherwise this is irrelevant.
Amigo always used to refund payments the guarantor had made to the guarantor and increase the balance on your account by the amount of those payments.
So say the three payments were £100 each, your guarantor would get back £300 plus 8% interest. If after the refund you would owe Amigo £720, that would be increased to £1020. If you would be due a refund of £650 from Amigo, that would be reduced to £300.
But sometimes now they aren’t doing this. They are settling with you on the basis of what has been paid to date and not repaying the guarantor. Which often people are happy with if they have paid the guarantor already or they are just about to pay the guarantor from the refund they are getting.
If the guarantor then complains, they will get the refund and you will then be told you owe £300 more.
I don’t know if Amigo tell the guarantor.
Ted says
Thank you so much. I will keep you informed.
STEVEN norman says
Hi sarah amigo have had my complaint since February 12th and have still not dealt with it, do you think now would be a good time to take it to the FOC and if so how do you about it and in what what documents,paperwork or bank statements do i need to send
Many thanks steve
Sara (Debt Camel) says
Yes, I don’t see any reason to give them any longer.
See the section on “Taking a complaint to the Ombudsman” in the article above – that has the link to the FOS online form to use. If you can attach a current credit report (TransUnion’s statutory report is free and easier to download than Credit Karma: https://www.transunionstatreport.co.uk/) that is good. Also your bank statements around the time of each loan application. If you don’t have them, send the complaint to FOS anyway, don’t delay, and set about getting the statements.
STEVEN norman says
Thank you sarah I’ll get straight on it
Johnny Young says
Sarah how long does it usually take ombudsman to acknowledge complaint, I sent mine to them about 3 weeks ago and haven’t heard anything back to say they’ve even got it, complaint with amigo started 4 Jan still fobbing me every week I email them.
Sara (Debt Camel) says
You can phone the Ombudsman and ask them to confirm they have your complaint.
Do you still owe Amigo a balance?
Johnny Young says
No, i was in a right mess with them though, paid 133 for the first 4 months of loan, then topped up and had to pay 268 per month after that, about 16 months in I had changed payment date 3 times to avoid paying them 3 months, rang up but they were no help at all, in the end up I had nothing left out of wages with all my loans and credit cards, boss gave me the money to repay amigo or I dunno where I’d be, basically borrowed 7000,paid back 7500 to end the loan and about 4000 in monthly payments on top off that.
Sara (Debt Camel) says
Great that you got out of that.
Shelby says
Hi I have received this today but they haven’t asked for statements or nothing ? Do you think me sending my credit file ( which had £14,000 of debt plus all
Of them had defualted at the time the loan was taken out ) plus a doctors letter helped ?
Dear Shelby,
I am writing to you in regards to a complaint that was raised for you on the 6th May 2020, so that we can investigate the matters brought to our attention.
We will be issuing a written response to your complaint, following our investigation. Our guidelines allow us 8 weeks in which to respond to you. As we’re currently trying to help lots of customers, please don’t worry if you don’t receive a reply from us before the 8 weeks is up, we will keep you posted with the progress of your complaint and when you can expect to receive a reply from us.
I have included a copy of our complaints procedure, for your information. In the meantime if you need to contact us or have any further concerns please do not hesitate to email us at complaints@amigoloans.co.uk and we would be happy to help.
Kind regards,
The Customer Relations Team
Amigo Loans
Sara (Debt Camel) says
Hi Shelby,
ok, so they have your complaint logged ok. All you can do now is wait for the response to your complaint. If they reject your case or they don’t reply by 8 weeks, your case can go to the Ombudsman.
Do you have your bank statements from around the time of the loan application? If you do, it’s a good idea to send them to Amigo even if they haven’t asked for them.
Aiden says
Hello,
I just wanted to leave this message to say thank you for this great advice and help. Using this I was able to word my argument correctly and get my point across in the right manner. I felt that as a financial company they should have never offered me my loan in my circumstances. I paid back every penny I borrowed, however, Early this week Amigo and with the help of the FOS agreed to pay me back the interest I paid for the loan.
This was incredible news and has helped me massively. If it was not for this helpfully content I don;t think I would have even started a claim.
Thank you again.
VH says
Just an update. Investigator at FOS has Upheld My complaint And advised amigo to refund the interest on my loans plus 8%.
Amigo have 10 days to reply to the decision.
If fail to reply then will be put for ombudsman for final decision.
Claire says
I’m the same. Amigos we’re given 10 days to reply and refund me interest and 8%….that was about a month ago!
I’m not holding my breath for a reply anytime soon.
Just out off interest tho
I took a loan out for 5000 in September 2016
Then topped up to 7250 in December 2016 have been paying 290 per month since then any idea how much I’ll be getting back plus 8%
Dont understand how they work it out
Abbie Parker says
I am in the same position; Amigo were given until 4th May to respond and haven’t done so my case is now sat in a queue for an ombudsman to make a final decision.
So stressful
Ali says
Hi Sara,
I am getting together my complaint
I currently have 7,070 remaining to pay
And have paid over 10k till this day since 2017
However i have not been able to pay since december 2019 hence in arrears, but have been given a breathing space due to coronavirus
I am using the template above, however where it says ” I want to carry on paying without my guarantor being notified”
Can i still use this whilst in arrears and before I set a new payment plan?
Also, as i am basing it on having major gambling issues at the time loan was given and defaults on my credit at the time, also not being able to afford many of the monthly payments because it was unaffordable but i couldnt say ut due to being scared by them going to my guarantor
should i go into much detail or keep it simple at this stage
Lastly, what do I ask for: the 10k i have paid, or them to remove my reaming payments
Thank you for being here!!!
Sara (Debt Camel) says
You could change that sentence to say “when my payment break ends I do not want my guaraNterest to be asked to pay if I set up a repayment plan.”
Ithink it’s good to be clear that you had a gambling problem and enclose bank statements from around the time of your application showing that. You don’t need to write loads but a few sentences about this and about how you have only paid because you couldn’t have your guarantor asked to pay are good because they explain your case.
Ask for interest to be removed from the loan and a refund of any interest paid to date.
Ali says
Thank you so much!
I have no more interest to be paid i have paid all interest
From now any payments made were going to drop off the remaining 7,070 balance
Will it be correct if i put down:
I am asking you to remove the remaining balance on my account: £7,070 – so I only have to repay what I borrowed (which I have already fully repaid) ‘£10,000’ and release my guarantor”
Thank you!
Sara (Debt Camel) says
“I have no more interest to be paid i have paid all interest”
I think that is the wrong way to think about this. Ignore what Amigo says the interest is completely, focus on cash – your borrowed X and you have paid more than X.
It actually doesn’t much matter what you write, there is a set way of calculating these refunds.
But your sentence doesn’t quite make sense, so I suggest “I have already paid you more than the amount I borrowed, so please clear the balance and refund me the interest I have already paid.”
paul says
Amigo Loans – What a joke – Week 17still waiting for a response – Called them on the customer complaint line 01202 835170 Got same reponse we havent had a chance to look into your complain yet – Absolutely shambolic cmpany – How can it take 17 weeks to look into a complaint – this is ridicoulus
Can someone advice on here if anyone has had a response form Amigo and what week of waiting did they get a reponse ?
Thanks Guys
frogman says
15 weeks today that my guarantor complained so take heart, you are not alone.
mb018538 says
Same here paul. They’ve had my complaint since 22nd January (16 weeks now) and I’ve not heard a dickie bird.
Interestingly though – I stopped my direct debit last month and just didn’t pay them. I’m sick of their terrible service.
They can’t take me to court with an open FOS case, so they can do whatever they want…..I haven’t heard anything? No calls, no letter. Nothing. Usually they are all over you like a rash as soon as a payment is late. Anyone else had anything similar?
Paul says
Guys I don’t know if this is another blagged but I was. Told that my complaint would be looked into over the next few weeks and no more than middle of June
Sara (Debt Camel) says
told by?
Carole says
I was told the same today from Amigo. Today the 8 weeks are up and I called up to see if they were close to a decision. The lady was really nice and said my case hadn’t been started on yet but that all cases will be complete by the end of June. I’m not sure why she is giving that information but that’s what she told me. I asked how can all cases be done by the end of June when some may come in to you in June and she said that they have been advised to tell all customers that all complaints will be complete with final responses by the end of June. She said they are dealt with in chronological order. Not even a letter telling me it wouldn’t be complete today in the time frame. Terrible company and also quite disturbing how so many people are experiencing the same issue of irresponsible lending.
Aiyesha says
I did read somewhere that they had put aside X amount to deal with complaints for the first 6 months of the year and another X amount to deal with complaints for the first 9 months of the year in their accounts, could be those that arrive later will be resolved in the latter part, do believe they intend to resolve at some point…again hope for us all, Im at a similar atage to you Carole
carole says
Hi Aiyesha,
Yes it is very strange they have a date for all complaints to be complete by June. I did read somewhere that thy had money set aside for complaints at the start of the year so maybe they have a stage for grouping complaints. Maybe they should just stop stupidly lending. I also did read that people who have put complaints in after mine have been given final responses so Amigo are talking rubbish about chronological order. Let me know how you get on Aiyesha, and good luck!!
Aiyesha says
That is interesting….I remember reading someone else commenting on here that they had been told by a manager (after refusing to get off the phone until they spoke to one) that all complaints would be looked into by no later than June or something along those lines…wonder what’s happening in June?
Marie I says
I called today and was told they have not allocated it yet and are unable to give me a timeframe but it shouldn’t be to much longer….my complaint went in on 30th Jan
Ali says
Hi Sara, I wanted to confirm how it looks before i send over, just want to get things right:
You gave me a loan of £4350 in July 2017.
I took a top up of £5589 in November 2017
(Ask for SAR as written above, cannot add due to word count)
I am making an affordability complaint. These loans were unaffordable for me and you would have realised this if you had checked properly before giving me the loans.
You would have seen from my credit record that I had recently missed payments/ had defaults.
I had a serious gambling problem which you could have seen from my bank statements (attached). These carried on months before and after both Loan payouts. This loan added even greater pressure and pushed me to even more gambling whilst trying to keep up with the monthly payments.
I only just about managed to pay because I couldn’t have my guarantor being asked to pay, with tons of stress.
I have already paid you more than the amount I borrowed, so please clear the current balance and refund me any interest I have already paid and release my guarantor.
When my payment break / breathing space ends I do not want my guarantor to be asked to pay, once I set up a repayment plan. I do not want them to be informed of my complaint.
You have 8 weeks to respond to my complaint before I send it to the Financial Ombudsman.
Does this sound well to go? Or do i go into more detail
Thanks so much
Sara (Debt Camel) says
That sounds fine, you only need a brief description, you are just kicking off the process of looking at your case.
Ali says
Hi Sara, i sent the email as i wrote above on friday and received this today:
Thank you for your email and sending over your statements, I’m sorry to hear you’re unhappy with your loan.
Due to what you’ve advised, I have raised a complaint on your behalf. Our Customer Relations Team will be in touch within 3 – 5 working days and shall compile the Data Subject Access Request as soon as we can and forward this across to you
Should you have any questions in the meantime, please feel free to reply to this email. Also, please note whilst we are investigating your complaint any active loan will continue as normal. If you would struggle to do this it is important you contact our collections department at hello@amigoloans.co.uk.
Is this normal procedure, should i reply anything back?
Thank you!!
Sara (Debt Camel) says
You can ignore this.
BUT if you are experiencing problems with your household finances because if Coronavirus, you can also ask for a payment break because of this. Amigo cannot ask your guarantor to pay if you have a coronavirus payment break.
If your problems aren’t caused by Coronavirus, can you manage to go on paying? The risk if you don’t is that they will go after your guarantor. what is your guarantor’s financial position?
Ali says
I was in arrears for 4 months (before coronavirus) from:
End of november till end of March a total of
£2,030
We set up a payment plan for me to start making payments end of march, however due to coronavirus (pub i worked at closed down) i couldnt make that payment in march and they gave me a breahting space which will end 4th June
However the pub i worked at is still closed therefore i may not be back to work until July
A week ago i emailed amigo to ask for a further month, they said they cannot put that in place before this breathing space ends,
I am not on good terms with my guarantor, if they put a payment arranegment in place i will be able to stick to it.
Will they allow me that additional month of breathing space – given ive put in a complaint also i hope they will help me in making another arrangement to pay im worried they might not be as undeerstanding because of my complaint.
Sara (Debt Camel) says
If they gave you a breathing space, wait until the end of it and then go back and ask for more help if you need it. It may be that the FCA says something about how breathing spaces should be extended/changed if someone still has problems.
The decision about help because of coronavirus should not be affected by your affordability complaint.
Ali says
Thank you so much Sara,
Will they allow me to make a payment arrangement when the breathing space is over? I have fears theyre going to ask for my arrears at once
This complaint does not mean i cant afford it now, right? Because i wouldnt want them.to go to my guarantor after the breathing space and at least allow me to make an arrangement for upcoming payments
Sorry for multiple questions, very worried anything to do with my guarantor want to be safe
Thank you!!
Sara (Debt Camel) says
Will they allow me to make a payment arrangement when the breathing space is over?
I’m sorry I can’t guess the answer to that.
Amigo always used to go after your guarantor, but recently they seem to have let some people set up a payment arrangement, but I can’t tell what their rules are on this.
And I can’t tell what the FCA will have said about firms should treat customers with problems when the breathing space ends.
The template letter for the affordability complaint says you want to carry on paying.
You have got your complaint in now, so at least some of your complaint time is going to be covered by a payment break.
Ali says
Thank youx!!
Becs says
I am being fobbed off by Amigo regarding responding to my irresponsible lending complaint. 3 months ago I submitted it, 4 weeks ago I got an email saying the expect a reply within 4 weeks, this week they are saying they have no idea when I will get a final response due to COVID-19. It must be linked to the recent troubles they have had a board level, they are fobbing people off because they are about to go bust perhaps? Anyway, I have now escalated to the FOS……
Ashley says
I’m being fobbed off as well.
19th of Feb they have had my complaint since…. and nothing. I Sent to FOS at the 8 week point.
I think they are genuinely overwhelmed with complaints. ‘Every dog has its day’
I sent them a vulnerable person notice and an explanation of how no reply and the feeling of being ignored is effecting my mental health a few days ago. Still nothing.
Becs says
I got an snippy email back today saying ‘as per my 2 last emails to you, I can’t tell you when we will reply’ 😂 I appreciate they are probably stressed but a good indicator that all is not well…..
Harry says
Hello is there a email for fos or is it the website just and you fill in details
Thank you
Sara (Debt Camel) says
using their online complaint form (linked to in the article above) is best.
Gemma says
Well my complaint is due to hit the 20 week mark on Monday still no final response! I downloaded my DSAR for my investigator at the fos as amigos failed to send over my case file. I also can’t see how they look at them in order as I’ve already seen someone get their final response on here even though their complaint went in after mine! Very frustrating to say the least.
Alfie says
I wondering if anyone can help me!
After 26 long weeks of waiting I have finally had my complaint upheld with Amigo loans dating date from 2012.
They have calculated the total refund to be:
Interest – £18,723.06
8% Simple Interest – £1,365.15
Total – £20,088.20
Am I right in thinking the 8% simple interest is incredibly low? I’ve queried this with Amigo and got this response –
Due to the way 8% simple interest is calculated, you are not entitled to 8% simple interest on all loan agreements. You have received the 8% interest award on the agreements where you made payments above the principal amount you have borrowed
The principal of the Financial Ombudsman Service guidance is that so long as the customer has the benefit of the money borrowed, the principle amount should be repaid in full. Statutory interest of 8% is only due where the customer has repaid to the lender more than the principal they have borrowed. At any point in time where the customer has repaid more than aggregate of the cash received, they are eligible for a refund of the over payment plus 8% on the portion of overpayment from the date of each overpayment.
In summary, the 8% award is calculated on each individual overpayment made and for the period of time that this amount was overpaid. Therefore, as you did not make an overpayment on all of your loan agreements, the 8% simple interest has only been calculated on the relevant loan agreements where you made overpayments.
Can anyone advise me on whether this amount is correct please? I’ve had other irresponsible lending refunds and simple interest was calculated on the entire period.
Alfie
Sara (Debt Camel) says
That is what Amigo do. Most other lenders do it another way. You can complain to the Financial Ombudsman about this if you want. So far most people have been happy enough to just get the case settled.
Do you owe them any money at the moment?
carole says
Well done Alfie on winning with Amigo. Can i ask how long it took please for them to give you final response?
Alfie says
Thanks for your quick replies. Yes after a guarantor refund the total amount owing was £11k. They have since settled my account and are in the process of paying just over £8k to me. I won’t take this to the ombudsman if it’s standard procedure, I just didn’t want them to have miscalculated it.
Hi Carole,
I first submitted my complaint in late November/early December so it’s been a long process.
Carole says
Hi Alfie,
Wow that is a long time you gave them to complete your complaint without taking it to ombudsman too.
Well done I’m happy for you. Enjoy your well deserved money back.
Vanessa says
Hi Alfie
Can I ask did you take your complaint through FOS or have Amigo made their own decision to up hold your complaint.
My complaint just recently been upheld by the investigator at the FOS and have instructed Amigo to reply by 25th May. If they don’t reply then it will go to ombudsman to make final decision.
But I see on some other cases on here Amigo are still dragging their heels even when FOS have upheld decisions.
VH
Alfie says
Hi Vanessa,
I send my case to FOS after 8 weeks as I didn’t get a final response from Amigo (or any response) but it was upheld by Amigo themselves at week 25/26 so I will withdraw my complaint with the FOS.
I’ve got two more complaints with the ombudsman at the minute which have been there for four months and I’ve yet to hear anything, I think the fos have a large backlog of cases so not expecting to hear anything any time soon.
How long was your complaint at the Ombudsnan before they looked into it?
Thanks
Alfie
Vanessa says
Hi Alfie
My initial complaint to Amigo was October 2019, they Quickly rejected it in 3 days.
I sent straight to FOS waiting until January 20 to assign investigator who promptly sent back my case to Amigo, I had to wait a further 8 weeks.
Amigo did not reply in any of the time frames so this week investigator upheld complaint and we are now waiting for Amigo response to that, they have until 25th May.
Vanessa
Ashley says
Amigo
have had my complaint since the 20th Feb , I sent to the ombudsmen at the 8week point. And I’ve chased Amigo and had no response.
Any idea where to go from here?
Liam says
Hi,
Recently reached 8 weeks with Amigo to which I had very little response or communication with them besides their questionnaire. I emailed to ask for an update as I haven’t received anything from them in way of SAR, so I told them I had complained to FOS.
Received this from them today.
Anybody else had something similar and if so what happened next?
“Thank you for your email. If we are unable to get your Final Response to you in two days we shall send you an official update. We always endeavour to get your Final Response investigated ASAP, however some complaints are more complex and may take longer than expected to issue a response.
Please rest assured that your Data Subject Access Request has been compiled.
Unfortunately, due to the national lockdown we are not able to process this as quickly as we would like and send you the copy via encrypted CD as our capacity to produce these is reduced whilst working from home.
As such we cannot send this to you at this time as quickly as we would hope, however, as soon as we have access to our office to get these produced we shall send this out ASAP.”
Sara (Debt Camel) says
I suggest you send your complaint to FOS if this is past 8 weeks. You don’t have to wait to get the SAR information.
Liam says
I have sent to the FOS.
I was just wondering if anyone had a similar response from Amigo and if they had actually came to a conclusion after the two days they suggest.
Phum says
Following your recent complaint with the Financial Ombudsman Service, we wanted to get back in contact with you today.
Please see below a breakdown of your refund:
Total interest paid to be refunded to you – £1652.33
8% statutory interest awarded – £595.09
20% tax already deducted from 8% award – £148.77
Total interest refund due – £2247.47
Vanessa says
That’s good news.
How long did you wait from Following FOS Upholding complaint
Vanessa
Phum says
Hi,
I put my complaint to Amigo on 29th October 2019. They rejected it and sent to FOS 8 weeks after. They needed bank statements from 2013 – I got them but got an email from FOS to say they are fully refunding before I had chance to send them.
I paid off my loan about 12 months after I took it out though so may have been the reason they acted quickly
Sara (Debt Camel) says
you can claim back the tax deducted if you are a basic rate taxpayer, see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
A.n says
Sara,
Love thes site so many thanks
I have Amigo and George Banco now up to 8 weeks. Sent to Ombudsman now.
A couple of questions;
1. How long on average is it taking FOS to reply with a solution?
2. MY amigo is account is in arrears and I cant afford repayments at the moment. Can they do anything like take me to court while my account complaint is with FOS?
Many thanks
Sara (Debt Camel) says
There isn’t really an average at the moment. A couple of people recently have had their Amigo FOS cases picked up and settled by Amigo… it’s not clear if this might be a pattern.
A lender shouldn’t take a customer to court while the loan is in dispute, and although Amigo may send letters, emails and texts say they will be referring you to their litigation team, so far they haven’t started any court cases. BUT they will go after your guarantor…
What is your Amigo guarantor’s financial situation?
Victory says
Hi Sara
So my George Banco complaint has been with FOS for over 2 months now. I just wanted to get a rough estimate on the redress calculations. I took out the first loan in 07/2014 of £4k and paid £214 for 5 months before topping top to £6k to which i made £292×36 payments. There was an initial admin fee of £400 for the first loan. My question is, i have told FOS that both loans were unaffordable and as such i shd be refunded the interest paid but i don’t remember how much I was paid for the top up and i can’t seem to find the documentation anywhere (i think i was paid £2500 to top up to £6k), could you assist with a rough estimate? Thanks
Sara (Debt Camel) says
Not without knowing what cash you received for the top-up… can you look on your bank statements?
Victory says
I just dug out an email from 5 years ago (silly me) and the pay out/top-up was £2,375.49. I hope that helps.
Thanks again.
Sara (Debt Camel) says
so the interest & fees paid on each loan looks like roughly (remember you may have typed in numbers wrong or I may have, this is just a guess):
loan 1 – £ 695
loan 2 – £4512
Victory says
Thanks Sara, it’s all paid now (since 2018) can you work out the 8% interest?
Sara (Debt Camel) says
not exactly. But probably about another £1200.
Victory says
Thanks Sara
Graham says
Hi Sara. You may recall my situation with George Banco. My complaint to them hasn’t been upheld, my complaint to them was purly about how they conducted thier checks around my stepdaughters affordability to make payment for the loan. They totally ignored that and taken the approach to be critical of my own concerns about making payments as a garentour. I’ve responded (Obviously) and addressed thier lack of response to my complaint. I have forwarded there finding to the ombudsman and my reply. I was hopeful you may be able to give some feedback to this and do you feel I’ve taken the correct steps so far.
Thank you
Sara (Debt Camel) says
Hi Graham,
in some of your previous comments you said that you couldn’t afford to pay the GB loan payments and carry on running your car, and without a car you would lose your job. Is that correct?
Was this also your situation when you became the guarantor?
Has your step-daughter put in a complaint herself yet?
Graham says
Hi Sara. In thier letter they feel from calculation I have surplus funds to pay the loan and these funds should be paid to the loan taken out by my stepdaughter. My bank funds are for my car and are built up through the year to cover the normal expenses we all have running a car, and this is where I had to pay the the loan from. These were depleted due to payments I made and I had to find addional funds to keep my car on the road this year. I would as I said in my complaint to GB & Ombudsman have expected to make the odd payment but never for it to get to the situation it has. I challenge thier assessment of my stepdaughter ability to make payments of which they I feel they didn’t? As I feel in truth they would have never agreed either part of the loan in the first place. I did ask her to complain based on what she told me but I’ve never had that confirmation.
Gra
Sara (Debt Camel) says
These were depleted due to payments I made and I had to find additional funds to keep my car on the road this year.
where did you find the extra funds?
The two “simple” ways to get removed as a guarantor are to make out an argument that the loan is not affordable for you OR to get the borrower to win an affordability complaint.
It is possible in theory to win your complaint by arguing the loan was not affordable for the guarantor – this has been listed as a possible way to win when an Ombudsman has been looking at other complaints. But it is a lot harder as it is hard for you to produce any evidence about this if the borrower will not help and I don’t think I have yet seen anyone win a complaint like this.
Honestly I suggest you ask your wife to talk to her daughter again about her putting in a complaint.