UPDATES:
Do not use the template on this page for Amigo, Buddy, George Banco, Trust Two, Glo. It is now too late to complain about them.
For TFS see TFS Loans goes into administration.
Guarantor loans are very expensive. Often the lender didn’t check properly that you could manage the loan repayments without having to borrow more. It doesn’t matter how well off your guarantor was, you had to also be able to afford the repayments yourself.
If proper checks would have shown that you couldn’t afford the repayments, complain! This article includes a template letter 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). In 2019, FOS issued a major decision upholding a borrower’s complaint against a guarantor lender. After that, FOS started upholding the very large majority of guarantor loan complaints it was sent, sometimes over 80%.
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, Buddy, George Banco, Trust Two, TFS, Consollo, Glo. It is now too late to complain about them or you have to go to the administrators – see the update at the top of this page.
For all other guarantor lenders, including ones that have stopped lending, send your complaint by email – here is a list of lender email addresses:
Guarantormyloan – customerservice@guarantormyloan.co.uk
Hero Loans (Hamilton Greig) – collections@heroloans.co.uk (put COMPLAINT as the title)
Juo Loans – customerservices@shelbyfinance.com
LendFair – in liquidation. Contact angus.gilles@mhllp.co.uk.
Suco – hello@suco.co.uk (ignore any suggestions to contact ODR – you want a reply to your complaint from Suco and send the complaint to the Financial Ombudsman if it is rejected.)
UKCredit – no longer lending but you can still complain to welcome@ukcredit.co.uk (put COMPLAINT as the title)
1 plus 1 complaints@1plus1loans.co.uk.
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.
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 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 or are thinking of one of these options
- 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
Amanda says
Hi Sara,
I am unsure how to post the lengthy email offer from Amigos I have just received today and wondered if possible you (I know you are very busy) would mind looking over what they have sent me prior to it being posted for everyone to see and if you possibly have an email I can send it to? If you wish to share it afterwards I’m fine with that however I would really appreciate your view before I call them to accept.
Thank you,
Amanda
Sara (Debt Camel) says
sorry, no you can’t send that to me.
Have they offered to refund all your loans? If not, how many loans did you have and which ones are they offering to refund?
Darren says
Hi Sara
Well big thank you after 18 weeks finally recieved today regarding Complaint to Amigo had 4 loans they have upheld only 1 of £5000 I made payments of £197 from May 2012 to May 2017 they did not give me a figure an also 8% to be added I will send 3 others to FOS they said i will receive 5 working days after 30th June not sure what figure will roughly be any idea Sara an once again thanks for this great site an information
Karen says
Thank you so much Sara for helping us all!! My husband this evening got an email to say his complaint is being upheld he put his claim in 13 weeks ago. I had put my complaint in before him but this has gave me hope that fingers crossed i should hear from them by 26th June x
Car says
Same thing I want to know so many up held complaints but only one person said they have received after 4 days so CAN popele comment when they have recived there money and how long it took them.
AS it’s all good a well but if there not getting there money we all need to know
Lisa says
Why would they not pay out ? I’m only on day 2 of waiting on redress but the lady I spoke to said up to 15 days 😊
Skids says
I’m on day 11 after accepting. Rang today, basically fobbed me off and said “it will be sorted soon”. (Whatever that means)
Lisa says
Omg a have seen people have had theres 4-5 days I was hoping for the same ☹️ They didn’t even give me the correct number to ring and confirm when I rang the number on the outcome letter it was a painter and decorating firm 😳
Emma says
I accepted FOS offer 2 weeks ago tomorrow. They told me 10 working days so I took that as today. Received my “final response” from them today with no calculation. So rang them and was told it was only sent to the team to work out the calculation today- and they were also only counting this as day 8 despite him confirming they received an email from me 2 weeks ago tomorrow. I was told if I haven’t heard by end of play thursday, to call them to chase. Told him it was extremely frustrating to see other people being paid out faster and me getting conflicting info.
car says
skids did you get your money as yet
Andrew says
Hi,
On day 14 tomorrow – waiting time be payed £6000. They Said it will take 14 days. My acc for now shows same balance. Let’s see what will happens tomorrow.
car says
this is the problem says 10 day on the letter. And even 5 people in complaints said the latest is the 10th day to actully see it in your account. But then people have been told 14 days and still waiting longer then 14days and some have recived after 4- 5 days.
and regards to a telephone number i have seen a few comment aslo about this.
mmmm makes you wonder
car says
hi andrew did you recive your refund as yet as your on day 14 that long keep us updated
Emma says
If it helps, I got my final response offering a refund on 8th June, accepted on 11th June and had my refund put into my account today (19th) so 8 days since acceptance. I was told 10 working days originally so it is quicker than expected but I know others have been waiting longer so seems random. My refund was about £5500.
Ted says
Hello all. I received a email today from my case handler saying amigo are upholding the fos decision they are repaying all the Interest from my loan +8%. Just wondering what happens next the loan was over 6 years ago. Any ideas when they will be paying be back?
Chris says
Got 19000 back this morning ,thanks Sara for all your doing to help us out ,would never came across this if I never seen the Wonga stuff ,here’s my timeframe for people ,submitted 28th January to amigo ,sent to fos at week 8,got picked up 3 weeks ago ,amigo upheld last Wednesday,got offer Friday and was in the bank this morning,good luck everyone and thanks again Sara
Jo says
That was quick I accepted yesterday so fingers crossed I’m not like others who are still waiting 2 wks on! I’m with nationwide. Not sure if it’s anything to do with the banks or amigos random pot luck work schedules 🤷🏼♀️🤣 I flirted with the man on the phone to see if that would help 🤣🤣
Sara (Debt Camel) says
I am sure it has NOTHING to do with who you bank with.
Gemma says
Hi Chris my case been ongoing from end Jan,said waiting to retrieve account back from Interum but was told prior already was as I still have 4k outstanding.I am due redress due to numerous charges and insane interest.This has been very drawn out for sure.Glad when it’s all over.
Gx
A.n says
Quick query for all those with payouts
I guess a lot of people (like me) are asking Amigo for updates regularly.
However, do you know roughly how long it took from when Anigo actively started looking at your complaint, until the outcome?
For example I know mine has been looked at for 3 weeks ago so curious as to how long it could go on for….?
Many thanks
Chris says
I don’t think they even looked at mine until the fos took my case on tbh
Jo says
15 wks for mine! Some people have had complete silence! I personally got a msg at 7 wks to say they needed longer then a msg at 10 wks to say that again and would be in touch within 4 then got the email today! I’ve said above! Mine appears to be pretty simple! I apparently didn’t mention my debts on record, they didn’t look at the time (all 3 times apparently) and I get all back because of that
Ali says
Hi Sara, couldnt find my original post to re-comment under sorry if this message seems random
I am on week 5 with Amigo at the moment, they have sent me this (seems generic) :
Further to our letter acknowledging your complaint, I’m writing to confirm that we are still investigating the complaint you have raised. This is due to your complaint requiring a more detailed investigation or because we haven’t been able to pick it up as quickly as we had hoped. However, your complaint is important to us and I’d like to assure you that we will be responding to your concerns as soon as possible.
Thank you for your patience. We’ll send your final response, or an update on when you can expect to receive this, within 8 weeks of the date we received your complaint.
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.
My complaint had my extreme gambling problems stated and I did attach many bank statements, do you think its best to just wait or shall i push and send an email explaining myself in further detail?
Thanks so much!
Sara (Debt Camel) says
It’s a generic message. No one has looked at your complaint. If you have sent bank statements then they probably have all the details they need, so send more jnfo, but you can send more explanations if you want.
John says
I received a similar email as Chris and so did my guarantor my initial loan was 2500 topped up to 5000 my guarantor has accepted 1900 redress where does this leave me in terms of my redress if anyone can help?
There is no outstanding balance on the loan.
Sara (Debt Camel) says
Do you know the total of payments you (not your guarantor) made to loan 1? To loan 2? And how much cash did you receive when you topped up?
John says
I think maybe around 8 payments? She was offered her payments back totalling 1300 roughly plus 600 interest the cash amount on 2nd loan was 3142
Rachel says
Hi I was coerced into getting a loan for my ex partner after months of refusing. I am a single parent on low income. He was the guarantor. I was given a £4000 loan over 60 months £158 per month in Dec 2017. I had £500 out of the loan he kept the rest. He did pay to Amiago £1984 in may 2018 and then I refused to get a top up he dumped me and disappeared 2 months before our wedding. I complained via the template and have recieved an email upholding my complaint. They are going to remove him as guarntor but also refund him the £1984 plus interest if he gets in touch by Tomorrow which he probably will. This seems unfair as they say I did not sound coerced. Is there anything I can do ?
Sara (Debt Camel) says
I want to double-check – you were the borrower and he was the guarantor?
they say I did not sound coerced
was this when they spoke to you before giving the loan?
Rachel says
Hi
Yes I was the borrower .
Yes they are saying in the call before the loan was agreed he was sat next to me pushing me on. I even passed the phone to him during the call and they talked to him.
Sara (Debt Camel) says
ok then i suggest you get back to Amigo saying you were coerced, they could tell that from your phone call and you think it is treating you very unfaril;y if they refund him the money and leave you owing more. Tell Amigo you will be taking the case to the Ombudsman if they do this.
Have you made any payments to the loan? What have you asked Amigo to do to resolve your complaint – wipe the loan?
Rachel says
Hi
I tried again today and they are saying it is a civil matter and they do not feel I sounded coerced and adbised the ombudsman.So with the interest and payments i have paid it totals £4010 i have just added it up. so the loan will be paid off ? Will I recieve any interest like he apparantly is at 8% Amiago told me ? I couldnt afford to take him to a smalls claim court will the ombudsman help with this ?
Sara (Debt Camel) says
“i have paid it totals £4010 i have just added it up. so the loan will be paid off ?”
based on those figures, yes.
“Will I recieve any interest like he apparantly is at 8% Amiago told me ?”
no, as you have only just paid off what you borrowed.
” I couldnt afford to take him to a smalls claim court will the ombudsman help with this ?”
No. But it is possible the Ombudsman will reach a different decision if they listen to the call and decide it was obvious you were being coerced, In that case the Ombudsman could say amigo have to refund your 4000…
I’m sorry but I can’t be sure what will happen here. I haven’t seen one of these cases. but as a general rule of thumb, if you think you have been very unfairly treated you can ask the ombudsman to look at the case.
Rachel says
Thankyou for your help it is much appreciated.
Amanda says
Hi Sara, totally understand. I’ve had 3 loans going back to 2014. They have offered a refund on the last two loans, interest paid approximately £16,000, which they will use to clear the £9,000 balance leaving a refund of approximately £7,000 to be refunded. They have removed my G, and this would be an end to this nightmare! I don’t know if I should accept or send the offer to FOS…? I’m just wanting this all tied up and gone from my life. Thank you for your response.
Sara (Debt Camel) says
so the first loan, do you know how much interest was paid on that?
Gemma says
Hi Sarah,
I have an affordability case with the FOS at the minute for match the cash. i took this loan out around the time as Amigo loans who agreed with my complaint and refunded me last year.
The adjudicator completely agreed with my claim and agreed all 3 loans shouldn’t have been given.
However since that response was sent to the company they have come back and not agreed and my adjudicator has sent me the following reply –
Thank you for your email and apologies for the delay in getting back to you.
The business has disagreed with my assessment. They’ve raised some issues which we are currently reviewing before it is passed to an ombudsman for a final decision.
I hope to have an update for you soon on how best to progress your complaint.
I’ll be in touch once I do.
Kind regards
Does this usually mean that the claim will not now be accepted? i have no idea what additional information could have come up since last time as my credit file clearly shown defaults and got worse as they issued more loans to me.
is this a Normal response from a business?
Many thanks for all your helpful replies and updates.
Sara (Debt Camel) says
The adjudicator has to read and consider what the lender has said – this is a fair decision-making process. You may be confident there is nothing new they can add, in which case the adjudicator is probably hoping to replay that after considering the businesses arguments, they have not changed their mind and their proposed decision stands. At that point the lender has to decide whether to accept it or ask for a second “Ombudsman-level” decision
If the adjudicator does change their mind, you can go back and argue why this is wrong.
Chanel says
Hi, I had a guarantor loan for £5000 back in August 2018 with Bamboo I put in an affordability complaint and they denied it. I let them know that I was going to go to the FSO and they said they will escalate my complaint and be in contact yesterday they asked me to contact them (bamboo) they have said they will wipe 2/3 of my interest, remove my guarantor and offer lower monthly repayments. Do you think I should accept this or do you think I should go further to the FOS or try and barter with bamboo to see if they will take anymore of the interest off. The interest was around £6800 so there going to removed around £4400 Ish. I have a week to make my decision! Xx
Sara (Debt Camel) says
ah difficult!
My guess is that you have got a strong case or they wouldn’t be offering you anything.
How much will you still owe under what they are proposing?
Chanel says
So the loan was for £5000, interest was around £6800.. I made 19 payments off around 199 so I’ve paid around £3780 i currently owe around £8200 and if I take there offer it will decrease to around £ 3750
(These are roughish figures)
That being said the man I spoke to from bamboo said it was a difficult case due to me saying I was using the loan for debt consolidation but I explained I used the money for clearing creditors and family I owed amounts to not just things in my credit report he did say that he can now see I was falling behind with other creditors prior to the loan.
I was unsure wether to escalate to the FOS or ask if they could offer a better offer directly to bamboo?
I’ve set up payment plans on a lot of things, I still owe a few creditors range by from £50 being the lowest to £1500 the highest excluding my guarantor loan I probably owe around £3000
Thanks
Chanel
Sara (Debt Camel) says
OK, so it sounds as though with a lower balance and lower payments, you would be able to manage. And you could dump all the debts including the bamboo loan into a DMP.
Yes you could go back and try to negotiate a bit more. This is a very annoying decision to have to take.
In the end if you think its a big improvement and not that bad, there is nothing wrong with taking it.
But if you think this loan has caused you so much trouble you want every penny back you can, then you may need to go to FOS. Win at FOS and the balance would drop to 5000 – 3780 = 1,220.
K says
On week 17 with Amigo heard not a jot! Sent to FOS on week 10 and just received an email from them telling me they have contacted amigo and I should hear from Amigo within 8 weeks and FOS won’t do anything unless they hear back from me. Not sure if things are moving now or not :-(
A.n says
I spoke to Amigo complaints today and they confirmed the deadline of 26th June for clearing the “backlog”
The backlog refers to complaints raised up until end of March.
Hope that helps. (Again, just what I was informed).
NAG says
Hi all,
To give others more info about how long things take – I submitted a complaint about my two loans to Amigo on 20 Feb –
Dec 2011 – £3000 for 24 Months at £185.45 p/m
Top Up in Jan 2013 to £5000 for 60 Months at £197.67 p/m
Both were paid off on time (Last one 2018) and my guarantor made some payments towards each (4 lots of £197.67 for loan 2 and possibly 5 payments towards loan 1 but I’m not sure).
Complaint upheld on 9th June and my guarantor was offered the payments that he made back – he said that it was effectively £2500 (no idea how they have worked that out). I have figured out that based on what they are returning to my guarantor, I should get about £5,618 before adding the 8% interest – I’m not sure how to work that out given the time elapsed since paying them off. Any help in working out the numbers would be appreciated.
Guarantor accepted straight away but no breakdown sent to me and no other communication from them since. They have given me varying times to wait – from 5 days to 10 days to ‘a few weeks’. Some have said I need to wait until the 26th June and others have said that it should be quicker. I have called to give my bank details although they didn’t ask me to do that and I keep hassling them with emails but they have now stopped responding to me. Seems to be very random how they are going through things.
Good luck to all, whatever stage you are at but don’t give up! All the best!
Matt says
So I had my initial complaint with amigo rejected sent off to the FCA and did not get a response I then chased this up and a day later got a response say my claim for mis sold had been accepted and they would refund my interest etc.
On accepting this was told it would be 5 days for my refund, 5 days pass no money told it would be settled in 10 due to back log vivid etc day 10 still no payment told now it will be by the end of the week and just seems it could go on for an unknown amount of time
Joke of a company and no way to complain about it as no doubt company will no longer exists in a months time
Kimberley says
I’m the same 19 weeks today have asked if it’s even been looked at and was just told that some complaints are more complex blah blah blah again. I only had 1 top up and still paying £355.72 a month although on a payment break at the moment. I’m worried as I’m likely to be furloughed until September that I won’t be able to restart payments and also struggle with mental health so this isn’t helping me at all
Jo says
Mine has been sorted at 15 wks, 2 top ups! My reasons for complete refund was because I had defaults on my record at times of loans and obvs money issues and they hadn’t checked! If you are similar fingers crossed it’s not much longer!! I have similar health issues and did email
Them last wk to say I was suffering to which they replied and gave me redress 2 days later so even if it’s a coincidence and mine was on its way anyways it’s not going to hurt if you lay it on the line!
Hope that helps and you feel better soon xx
Jordan Williams says
Just had an email today after waiting 19 weeks
REFUND
£10,011.36
Pay off my loan of £4,565.48
So cash refund of £5,446.38
Thanks for your help Sara
Amanda says
Just want to say thank you to you Sara and this site! I am 16 weeks from the start of my complaint against Amigos, it went to FOS at 8 weeks. FOS have not assigned my case yet due to their backlog however last night I received an email from Amigos stating they are upholding 2 of the 3 loans I’ve had with them and have done the following;
1-they’ve released my G
2-they’ve calculated £16,000 interest paid on two loans and offered to refund that.
3.the outstanding loan balance will be cleared and a refund of £7,246.73 is now due to me.
I’ve rang Amigos today and accepted their offer and informed the FOS of my decision as I’m wanting this hell they’ve had me in since 2014 over and now it is!!!
They’ve said today after I accepted payment could take 10-12 days.
A huge thank you to you Sara, to everyone else and for others sharing their experience as without this site I would NEVER be free!
Good luck everyone and I will update how long it takes to actually have the money in my account.
DONT GIVE UP!
Fellowman says
35 weeks since starting my complaint with Amigo. It has been at the FOS since Dec 19. Only now has it started being dealt with. Shocking being ignored this long. Now I have to wait even more time to get an outcome.
James says
Due to the amount of misselling, is anyone concerned if there claim is upheld that amigo might go into administration beforehand?
They seem to be in a lot of trouble.
Sara (Debt Camel) says
They had about £115million in the bank on 25 May. I doubt they are in imminent danger of running out of money.
There is an FCA investigation into their lending underway. I don’t know how long that will take.
A.n says
Guys
Need some help!
I had a redress offer and also my guarantor to be refunded.
Is it the best thing to do for guarantor to accept their refund and then tours be calculated?
Or is it best for guarantor not to and then I just pay them back out of my redress?
Or does neither make any odds?
Urgent help.would be super appreciated
Sara (Debt Camel) says
I think in general between the two of you you will be better off if they accept the refund and then help you out if needed, rather than the other way around. Because they get 8% extra interest on everything they paid, but you will get very little.
Bonnie Knox says
Hi i woke up to an email from amigo they had rejected my complaint. Totally disregarded everything and said everything was affordable ect. I totally disagreed with all of it i already have sebt it to the ombudsman. Really nervous now has anyone had the ombudsman uphold your complaint after amigo disagreeing with everything? They said all checks were fine and even if i had told them about gambling it still might not have effected their decision? Feel like ive just got ahead of my self. Intrum who bought the loan have now added themselves to my credit account just when my loans been rejected :(
Sara (Debt Camel) says
has anyone had the ombudsman uphold your complaint after amigo disagreeing with everything?
Yes!
Tell FOS that Amigo have just rejected your complaint.
L says
How quick is it to receive the redress letter? I’ve just had an email upholding my complaint but I don’t know the redress figures yet :D
George says
I cannot thank this site enough specially Sara for all your help.
I’ve just heard back from Amigo with regards to my complaint and all 3 loans have been upheld.
After my outstanding loan of £3177 has been cleared I will receive £16,096 within the next 10-15 days
For the first time in my life I will be completely debt free, I could actually cry with joy right now
I was on week 11 and haven’t really chased them for an update until this week
John says
Well last year this fabulous site helped me get rid of Amigo saving me over £400.00 per month with a £3k refund.
Today after sending to FOS I have been told George Banco are going to get in touch with me as they have reviewed my complaint and I’m owed a refund but couldn’t say how much. Should this bode well I will be in total with both complaint over £600.00 per month better off and debt free. Amazing people here especially Sara here’s to a more enjoyable life and a massive learning curve.
Claire says
I’m so happy for you guys getting refunds. I’ve had my complaint in for over a year now! It’s on the waiting list for the financial ombusman.
Amigos have been telling me for weeks itll be done by the 26th but now apparently I have to wait for ombusman. Worse financial dissision of my life!
I’m on the verge of falling out with my guarantor cos she keep getting threating emails yet they’ve told me my payments are on hold until this is sorted!
It’s been over a year
I want to put in a complaint about my complaint but just feel itll hold thing up even more! Sick of it now!
Skids says
Hey I’m on day 12 after accepting my redress offer and still my account shows a balance owing neither have I received the redress into my bank, I have just phoned them for an update and was told they are now doing batch payments and mine is due Friday. So for anyone waiting and wanting to know when they will receive their money I’d say they now have a pretty good idea
Mark says
Finally got final response from Amigo after 11 weeks mark. They uphold my complaint and I’m due to refund 15k (10k current balance which is gonna be settled and 5k cash refund). Called them and accepted offer. No longer need to pay them! They said that money will be in my bank account within 10 working days. I’m so happy. Don’t give up guys!
Declan says
Hi Sara, just had an email from amigo loans yesterday saying my complaint has been up held, after a 19 week wait, the fella said money would be payed out in up to 10 working days. I just want to thank you for this page for your help. I’m due 7500 refund and the 2300 balance has been cleared also. Your doing a great job
Thanks again
Declan
Lk says
I’ve received an email upholding all my loans. Does anyone know how long it takes to receive the redress figures?
Thanks
Abbie P says
I still haven’t received my redress figures and my
Complaint was upheld 2 weeks ago tomorrow.
I was told 10 working days from when they received acceptance so my 10 working days will be up on Friday.
Kayleigh says
Hiya,
Wondering if you could help with seeing if my loan balance would be wiped and if I’m entitled to a refund?
Amigo have overturned their first decision and decided to uphold my complaint and I’m confused with how to work out the redress and such?
Loan 1 Sept 2016 – £2000 – 1 payment x 97.58
Loan 2 Nov 2016 – £6500 topup (amount paid out £4556.60) – 8 payments x £256.91
Loan 3 July 2017 – £8250 topup (paid out £2020.52) – 27 payments x £326.91
My current balance stands at £6948
I’m really hoping that my account balance is cleared 🤞🤞
Thank you in advance
Sara (Debt Camel) says
On those numbers (and you may have typed them in wrong or I may have, so this is a guess!) you have paid the following interest:
loan 1 £41
loan 2 £1778
loan 3 £552
so if they are all decided to be unaffordable, you would get the balance wiped and a refund of £2371.
Martin says
Hi
I put in An affordable Complaint and I received my answer today which was that amigo agree with my complaint and they can not be sure they did everything in their power to do all the necessary checks.
I have had 5 loans over 5 years
1000
1000 top up
1250 top up
5000 top up
5000 top up
Current balance is 4876.00
None were brand new loans
They have said that via a phone call today that I will still have a balance after does this seem right
Who could I seek advice from
And should I wait for the official redress letter with the confirmation of funds owed or not owed.
They have also took all liability from my guarantors also
When counter offering exactly what can you ask for
Thank you
Sara (Debt Camel) says
Hi Martin,
I think wait and see what the details are. I would need a lot more info to make some estimates
nath says
Hi, just wondering if anyone can tell me what this actually means, i have had a response from amigo today,
‘ The removal of all interest charges under the loan agreement’
&
‘A refund of any payments you may have made in excess of the capital amount of the loan agreement, along with 8% simple interest
cheers
Nath
Sara (Debt Camel) says
That sounds like a full refund. When you see the numbers, come back and ask if they don’t look right
Dlmb2017 says
https://www.lse.co.uk/ShareChat.asp?ShareTicker=AMGO&share=Amigo&page=2
Some interesting posts here. A long one blames Debt Camel and the FOS for ruining Amigo. These are investors mind you so are probably miffed at the collapse in share price.
Sara (Debt Camel) says
Some wild stuff there, from upset investors and people who work for other subprime lenders. I suggest they should all spend some reading and thinking about the two lead FOS decisions on guarantor loans, which set out in great detail the legal and regulatory environment and why those complaints were upheld
Liam says
Hi Sarah,
Really sorry to do this as I know you get loads of requests but if you get time could you please work this out for me if you don’t mind.
Loan 1 – £750 – 2 x £77 In payments £154
Loan 2 -£1750 – Top up received £977 – 2 x £85 in payments £170
Loan 3 – £3000 – Top up received £1361 – 6 x £128 in payments £768
Loan 4 – £5000 – Top up received £2060 – 5 x 213 in payments £1065
Loan 5 – £6500 -Top up received £1725 – 3 x £256 in payments £768
Loan 6 – £7500 – Top up received £1102 – 14 x £296 in payments £4144
Loan 7 – £8500 – Top up received £1952 – 15 x £335 in payments £5025
Loan 8 – Top up received £1265 – 11 x £355 in payments
£3905
Remaining balance of £8672
These may be slightly out as I’ve tried to work them out from my own statements as I still haven’t had access to my DSAR from amigo even being in week 13 of my complaint. The complaint has been sent to FOS though.
Thanks in advance.
Sara (Debt Camel) says
Guessing that the last loan was 9000 (from the size of the monthly payment) – is this right???
————————————————————————
If it is, from those numbers I make the interest you have paid as follows:
loan 1 177
loan 2 59
loan 3 708
loan 4 840
loan 5 666
loan 6 3192
loan 7 4260
current loan still need to pay £5095 before you have repaid what you borrowed
If all the loans are refunded so the interest is used to clear the balance of the last loan, you would get c £4800 refund. Plus a small amount of 8% interest,
Nikki says
Has anyone had their complaint upheld due to high level of gambling transactions!?
Ken says
Yes, I have. I put in my complaint at the end of March and got it upheld yesterday
ken says
Hello!
Just had the confirmation my loan will be upheld. Woo!
Could you please tell me how much I am likely to get back in redress?
Loan 1- £1500, 2 payments of £154.59
Loan 2 – £4000 (paid out £2707.66), 4 payments of 247.26
£Loan 3- £4500 (paid out £1197), 8 payments of £278.17
Loan 4- £5000 (paid out £1423), 15 payments of £213.88
I currently have a balance outstanding on my loan of roughly £5100.
Thanks for your help!
Sara (Debt Camel) says
Assuming all 4 loans are being upheld, on those numbers I make it you have paid the following interest:
loan 1 101
loan 2 291
loan 3 1301
loan 4 still 1805 to pay until you have repaid the 5000 borrowed.
So after loans 1-3 are used to clear some of the balance, there will be about £112 remaining for you to pay!
Claire H says
Omg my anxiety levels are through the roof right now, I put my complaint in with Amigo 28/01/20 about a loan I took out in 2016 so I was at the 20 week mark on Tuesday, I have not heard from Amigo since they sent me the details about my SAR and that was 11/05/20, I am starting to worry that with only 8 days until the deadline that my complaint has been lost or something, I am hating that there is no system to the way Amigo are dealing with their complaints backlog, I feel it is almost like one last dig at the people with complaints in. I was just wondering all the people who have had their complaints upheld when did you take out your loans if you dont mind me asking
L says
Hi I need some advice
My guarantor has received the redress amount of £1,5064, however he is abroad with the army so it’s not possible for him to ring and accept. These payments I have paid him back anyway. A total of £10,000 was borrowed from amigo and I paid £8,000 in December. The email says if he does not accept then the amount will stay on my loan agreements but does this mean they will take £500ish off my redress plus his payments to make it £10,000 and refund me the rest? Or will they take it off my repayments? I hope that makes sense. Otherwise would they be keeping my guarantors payments?
Sara (Debt Camel) says
£1,5064 ? I assume this should be about £1,500?
£500 ish? where does this figure come from?
Rebecca says
Hi Sara
I got an alert from credit Karma when I checked my credit alerts my amigo loan had been removed and then added again according to the alert….I haven’t had a decide yet but thought it was strange. Any ideas? Maybe just a coincidence
Thanks
L says
Hi Sara
Sorry for the confusion. In December I paid £8000 to settle the 10,000 loan. If my guarantor refuses the redress of £1558.77, would this mean they would take £442.23 out of my repayments to make £10,000, then would I get the other repayments refunded? I’m not sure how the guarantor side of things work as it says if my guarantors payments (which I’ve already paid back to them) are refund refused, it goes back onto my loan agreement?
Sara (Debt Camel) says
“In December I paid £8000 to settle the 10,000 loan.”
had you made other payments before that? If yes, what did that add up to?
L says
Yes, £3505.87. My guarantor paid £1558.77, which I’ve already paid him back for. I don’t suppose he can reply to them saying this and telling them to add it onto my redress since I’ve already paid him back?
It was loans starting from May 2017 at £2000, I topped up 8 times and it was settled in December 2019.
My guarantor has responded to them refusing it as he has already been paid back by myself. Will they add this onto my redress? Thanks sara for your help so far
Sara (Debt Camel) says
They won’t add as much onto your redress as he was offered, as that would have included 8% interest on it all.
Have you been sent a redress figure already?
When you are now sent a new one, I am happy to help you look at that as I do want to know what Amigo are doing in this sort of situation.
am says
Hi Sara
I had my complaint with Amigo upheld, around the time that i took the loan with Amigo i also took two other (stupid i know) with TFS and UK Credit. Should i put complaints in there as well? I only did the Amigo one because i stumbled across your site one day.
Sara (Debt Camel) says
The same affordabilty rules apply to all guarantor lenders. So if you think the TFS and UK Credit loans were unaffordable, put in complaints to them.
S says
Just had my email through from amigo. Complained on 8th April for just one loan but they have rejected my complaint so off to the FOS info; feeling a little deflated as I genuinely can’t afford the loan and wondering how I’m going to continue to make the payments. Hopefully the FOS will overturn their decision
Sara (Debt Camel) says
sorry to hear that – on a positive note, Amigo are settling a lot of cases at FOS so hopefully yours will go through fast.
Karen says
Does anyone else feel as though they are being ignored by the complaints team at Amigo? I have sent emails last week and this week and noone is getting back to me!!
Chloe says
Yep same! Put my complaint in on the 24th jan, haven’t had an update since 25/5 just saying they couldn’t say when I’d have a final response, but Iv just had a text saying my payment break has been accepted so hopefully my complaint will be dealt with by the time my break ends so no more payments to them! Hoping it’ll have flagged them to look at my complaint too 🤞🏻
Jason says
Yeh loads of us are in the same boat! I can’t stand how much i check my emails its like an OCD now, just want it to end.
Daryl says
Thank you again Sara
This morning Thursday 18/06 at 10:10 received my redress email from Amigo.
Took 17weeks and 2days but finally got the response I had hoped for. Had sent to FOS at 8 weeks but still hadn’t been picked up so was dealing direct with Amigo.
Now have a 10-20 day wait for the cash to reach my account.
After finding this site I have already had redresses from 8 payday lenders and now amigo in the last year and really turned my life around and am now debt free.
Amigo is by far the hardest and longest company I have had to deal with.
Now awaiting responses from Likely Loans and Satsuma to complete my full house of lenders.
For everyone still waiting hang in there the feeling of relief when everything is cleared indescribable.
Gemma says
Mine has been going on from Jan 31st.They have now offered redress on all interest and charges.Customer Relations are saying they still need to buy remaining debt back from Interum which they said they had done months ago to tally up my redress as had two loans.I feel like it has been going on forever.Do they email requesting bank details or do they send a cheque??.
Thanks
Gx
Chloe says
Well still no email regarding my complaint BUT I have received a text saying they are allowing me a 3 month payment break!! So surely they will have dealt with my complaint by then! It’s a relief to know I don’t have to make any payments to them! Hopefully never again once my complaint is dealt with!
Jade says
Hi All, just to keep you updated. Have just spoken to Amigo. She said money will be in my bank on Monday 22nd. Will let you know if I receive it as promised x
Skids says
I had something similar, I’m on day 13 after accepting and have been told the money will be in my bank tomorrow… we shall see!!!!
Amanda says
Hi Chloe,
Just to help with some hope for you…. I also received a 3 month break and when I was due to repay on the 20th June they text me saying …
“If you need an extra month reply to this text saying ONE MONTH” and bingo another month grace during which time I have had my complaint upheld.
It’s worth ensuring you get text messages from them regarding this.
Good luck x
Rob says
I’m over week 22. Sent an email, received a generic reply. Sent to FOS at week 8, no correspondence, asides from an automated ‘We’ve got your case’ email back when I sent it. They’re clearly not dealing with complaints in chronological order.
Johnny says
Hi
Is it good for us waiting for a redress that Amigo’s board is to remain in place, regarding the vote they had. This must mean it’s the same board who have agreed with the F.OS to uphold the complaints?
Sara (Debt Camel) says
I don’t know what would have happened if the board had been replaced and there is little point in speculating about it now.
Cherz says
Hi just an update for info for anyone waiting on refund ,I called amigo on Monday to give my bank details,money in account today so three days ,very quick.
peter says
I have just spoken to the under writing team and advise my case has not been looked at yet been
with them from 7th Feb
Harry says
So sara thats amigo loans upheld my complaint on Friday past and now lendfair have upheld my complaint. Thank you so much,
Andrew says
Hi
just do keep you guys updated. I’m on day 15 after accepting my offer and still no payment made into my bank acc.
Yesterday they told me that I should receive the payment until the end of the week.
Not sure why they delayed this. I’m getting bit stress that they will not pay 😔
Stevan says
Im the same. I have a horrible feeling about it all. I was told up-to 10 days to be account.
Only 2 people I have seen on here say they have be paid out. There must be an awful lot sat waiting….
Jim says
Hi all,
I though I would give everyone on here an update and a bit of hope.
TFS loans previously rejected my complaint, so I referred it to the FOS in October 2019 and got a decision today.
The investigator said …. based on the above, to settle Mr C’s complaint TFS should do the following:
To add up the total amount of money Mr C received as a result of having been
given all this loan. The repayments made should be deducted from this amount.
As this will result in Mr C’s having paid more than he received, then any
overpayments should be refunded along with 8% simple interest (calculated from the
date the overpayments were made until the date of settlement).
To remove any negative information recorded on Mr C’s credit file regarding this
loan. And consider the implications for his guarantor.
Sara – how does the 8% interest work? I paid the full balance in Jan 18 and overpaid £4,660.01. Is it 8% PA until they repay me?
I also asked the investigator to look into the possibly of compensation, as they issued me and my guarantors with a CCJ and exacerbated my mental health condition.
Keep the faith people, it is a long process, but hopefully worthwhile in the end!
Many thanks
Sara (Debt Camel) says
Have you asked for the CCJ to be set aside?
Jim says
Yes, that was mentioned in her response as well.
Do you know how the 8% interest works?
Sara (Debt Camel) says
Yes the 8% is per year. The calculation can be complicated – it will be a bit more than “from Jan 18 ‘.
Jim says
Okay great, many thanks Sara… you are a diamond!
Mark says
I’m on day 14 (10 working days) and nothing either from Amigo. Was told yesterday I will receive Redress Friday but could be anytime Throughout Friday . Lady on the phone was lovely but couldn’t give me anymore info other than to check my bank every few hours and call next week if not received.
Johnny says
Hey Sara, sorry to bother, in my response letter it said my gaurantor made a payment towards my loan but we’ve both spoke and she definetly hasn’t, anyhow, it says if she doesn’t respond within 24 days she won’t get the supposed payment, where will this go then, myself or written off??
Sara (Debt Camel) says
I am not quite clear what Amigo are doing if a guarantor says No. Your options are either
– for her to say Yes and then give you the money
– for you both to go back to Amigo and say she didn’t make any payments
– or for her to say No and then you look at whether what they gave you is fair.
I think you both going back and saying no, that’s not right is probably the best option, but it’s up to you.
Johnny says
Yeah, thanks, I’m going to give them a call tomorrow to say they definetly didn’t make a payment, the respo se I got was basically they’ll pay everything back which I’ve overpaid in that was paid over the total amount of the loan
Car says
I’f the gaurentor declines there refund you do not get the money and you will only get a cancaltontion/refund of anything above your original amount borrowed example you borrowed 5 grand they will onlt cancaulate what above it ONLY OF fwhat you paid by your card. Dose not matter if you paid the gaurentor back or gave them the funds if they used there card you wont see a penny of it. It will just be based on your payments. If the gaurentor declines also there amount will still be placed on your account balance but still means any redress will be cancalted over the physical payment you have made.
SO IF some one gaurentor paid substantial amount towards a loan and got offer refund and your on good terms and trust them then they should give you enough to cover the balance left over if any as you just be placed back in to debt.