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
Simon says
Just for info purposes….
I have been informed this morning that George Banco are no longer part of everyday lending so complaints and updates will be much slower.
Sara (Debt Camel) says
They may be splitting their complaints handling but so far as I know George Banco remains a brand name of Everyday Lending.
Simon says
Just a quote from an email I have seen in a response this morning from the Ombudsman.
Sara (Debt Camel) says
Sorry is this FOS saying this? Or GB?
Simon says
FOS email this morning….
John says
Hi all,
Just to add to the general body of information for everyone:
– Complaint submitted to Amigo in early Feb 2020 and referred to FOS at the 8-week mark after minimal communication from Amigo
– They sent me my SAR data at around the 13-week mark
– I called them today at close to the 20-week mark for an update and was told they can unfortunately not give me any new information or an estimated timeframe. They could not even confirm to me that anyone had read my notes yet.
For what it’s worth, I think my case is relatively straightforward. No guarantor payments were ever made and I supplied them with comprehensive bank statements for each loan and top-up with my initial complaint. I mention this only to dispel the idea that they are dealing with simple cases first – I really do think they’re just attacking the deluge of complaints however they can.
Try not to get too worked up about it and I hope you all get the news you’re after soon :)
Paul says
I was told by amigo yesterday that they were apparently on track with all complaints pending and that I would get a response by end of month ? Don’t believe them 1 bit
Claire H says
Nope neither do I, thankfully I spoke to someone at FOS last week he told Amigo that they have to respond by 2and July so at least I have a date to aim for
staci says
well doesnt look like getting any answers by today !
what a joke
have they even been giving an extension – dont understand how they have for ones prior to march sure that was the point in the extension
SO ANGRY
Tracy says
A lovely lady Natalie rung me from amgio loans she said she was sorry I was mis informed I should get my redress figures tomorrow hopefully . And from the point I except it’s 14 days to expire then few days to pay out so 35 days in all its down hearting but the staff can only do what they been told .
Gemma says
That’s strange I emailed my investigator and included complaints team and my case handler last night after I spotted your comment and advised at what we are all getting told and the outrageous time scales just because we were upheld through fos!
frogman says
Is anyone here that complained to Amigo before 28th of Jan. I am tired of waiting for a response. Need some consolation
Sara (Debt Camel) says
oh yes, several :(
M says
Has anybody actually received a final response today? I’ve had an email, which I’m hoping it generic, stating that they are yet to look at my complaint. I complained 30th jan! Just keep getting told, we’re sorry it’s taking so long, we appreciate your patience, we are working through them as fast as we can, you will get a response as soon as possible but no actual answers.
Rebecca says
Nothing I’m currently on hold waiting to speak to someone 😭
Em says
Yes I did around 1.30 this afternoon. Been waiting since January x
Andrea says
Did you get through?
rebecca says
I got cut off twice 😭
Peter says
Just spoke to Amigo my complaint has been in 7 th Feb was told might not meet today’s deadline are asking for an extension and should know new date to work to on Monday afternoon also asked why are some people being told 35 days for payments was told we have to get everything double checked the FCA need to get tough as of end of play today being taken for mugs
Stace says
I have claim with Amigo which they are upholding my claim but haven’t given me my redress figures yet and keep getting fobbed off. I have been told i should have them by close of play Monday. Is there an easy way to work it out? I had the first loan 2012 £3,000 then a top up in 2014 £5000 over 60mths.
Sara (Debt Camel) says
do you know the total of the monthly payments you made to loan 1? to loan 2? how much cash did you get with the loan 2 top-up? Did the loan 2 complete normally or was it settled early?
E says
I have finally received a response from Amigo today!! It was sat in my junk mail. They have upheld my complaint with the exception of one loan. Meaning a redress of over £10k!! I have an outstanding balance of just over £9k which means I will get a payment of around £900 as well as having the remaining loan settled. I cannot tell you have ecstatic I am!! I never thought I’d get them to agree without having to escalate it to the ombudsman! This was my last one – I AM OFFICIALLY DEBT FREE! Sara, I cannot thank you enough for your incredible website!
Sara (Debt Camel) says
debt free – brilliant!
Rebecca says
Hi what time did you get the email through? Congratulations!!!
E says
It was actually yesterday at 19:23 but I didn’t see it as it was in my junk mail.
Rebecca says
Lol I’m sure your jaw hit the floor….the wait is awful such a relief I’m sure
E says
I was in total shock! It’s a little surreal. I only won redresses from My Jar and Amigo but it was enough to wipe everything out!
Harry says
Sara could you calculate this please
1000£ 8 payments of 48.97 3 years then a payment of 897 to pay off.
2500£ 7 payments of 121£
Topped up 3250
14 payments of 157
Hope thats set out ok lol
Sara (Debt Camel) says
So there were three loans : loan (settled) – loan (topped up) – loan (outstanding) – right?
Do you remember how much cash you got from the top up loan?
Harry Clifton says
743 payout it was
Sara (Debt Camel) says
I make the interest paid roughly:
loan 1 289
loan 2 854
loan 3 still 1052 to pay before you have repaid what you borrowed with no interest
If all three loans are refunded, the balance would be cleared by the refunds from the first 2 loans and you would get about £90 refund.
Kelly says
Absolutely devastated so I’ve finally recieved my response from Amigo who have deemed my first two loans (the lowest amounts) unaffordable but the three further top ups i had affordable??? I’ve declined their offer and will push on with the Ombudsman – I’ve waited this long.
Sara (Debt Camel) says
Hopefully FOS will get going on these rejected decisions soonish
Kelly says
I’ve had the it’s taking us longer than usual email from the FOS but I’m willing to wait I have nothing to lose
Emma says
I have just spoken to Amigo and nothing has been updated on my account today so I’m not expecting a response anytime soon… just the same update that they are very busy….mine has been with FOS since December but only assigned in April. FOS asked for my info From Amigo but they haven’t sent it and have said they are reviewing cases and expect to hear by the end of the month. I’m not hopeful but just have to hang it out I guess
Claire says
Sara could you calculate this for me if you get a min..
Loan off 5000 taken I think 3 payments of 182 then topped up to 7250, settled at 4940.69 payout 2309.31.
I’ve made 40 payments of 286.
I’ve not played anything since april as my complaint has taken over a year to be looked at…still waiting. Would I expect a payout ?
Sara (Debt Camel) says
I make the interest paid on each as follows:
loan 1 487
loan 2 4190
So if they are both upheld, the last loan balance is wiped and you would get a refund of £4677 plus a few hundred in 8% interest
Simon says
Hi Sara, Any idea what happens around a redress if some of the loans I had were actually settled in full? I had several loans and then top ups but managed to pay off 3 of the loans totalling £14,000.
Sara (Debt Camel) says
That doesn’t harm your chance of a refund, it just depends how affordable each loan was when you took it out.
Simon says
They have bank statements and a spreadsheet from the gambling operator showing how much was spent on gambling each year. Would that money be returned if complaint is upheld?
Sara (Debt Camel) says
If a complaint is upheld and all loans are closed, the interest you have paid is refunded.
If there is a remaining balance, the interest is removed from that loan and interest refunds on previous loans are first use to seetle the remaining balance.
Simon says
My guarantor cleared 3 of them totalling £14,000. Would they offer them that money back as part of the complaint if upheld? If they do, what difference does that make to my claim?
Tracy Smith says
Finally got my redress figures saving 150 a month now . Just waiting on my garantor to get her refund anything upto 15 days anyone had there’s quicker
Sara (Debt Camel) says
Your guarantor will be offered a refund of the money they paid. If they say Yes, your accounts will be reworked as though they had not paid that money, which could mean that youare left owing Amigo money…
Have you repaid your guarantor for any of this?
Are you on good terms with your guarantor?
Simon says
Yes I have repaid my guarantor all the money he paid on those 3 loans. We are on very good terms
Sara (Debt Camel) says
In that case, between the two of you you will be better off if he says Yes to getting his refund and then passes the money on to you to settle the resulting balance. This is because he will get paid 8% on a larger amount than you would, as he is refunded all the payments not just the interest part.
Emma says
So today I recieved my email response back from amigo which I’m so happy to say they are upholding 2 of my complaints, I had 6 loans in total but have said they feel the 1st 4 loans were affordable at the time but are upholding my last 2 loans, I’m currently of week 12 of my complaint so would like to say good luck to everyone else , the wait is so frustrating, also thank you to this page for all the help and support , they have said on the email that they will send me a letter showing the redness figures
My loan at £5000 was taken out in August 2016 over 60 months and payments of £197 a month but then re topped up in November 2016 to £6000 over 60 month and is still on going now with a remaining balance of £5500 does anyone know what I should expect? ,
Again thank you so so much to this page and good luck everyone, I never thought I would get this response
Sara (Debt Camel) says
Do you think the first 4 loans were really affordable?
How many 197 payments did you make to the 5000 loan?
How much did you receive in cash from the 6000 top up? how many payments £237 have you made so far on the last loan?
Emma says
I paid 3x 197
I got £897.34 once topped up
My balance on the loan currently stands at 5500
Not 100% sure how many payments I have made but I havent missed a month anyways only adjusted payment dates on the loan
Many thanks emma x
Emma says
My guarantor has also been paying this loan –
its 36 months hes been paying the 237 a month for ( my guarantor my dad ) will he get this back then ? Not sure how the figures are worked out.
Morgan Armstrong says
Hi Sara I have been told I will get my redress letter next week with figures. Don’t have full figures for 3 loans I have had and paid off early but would you know the refund value for my last loan.
£5000 paid 7 x £213
Topped up to £5750 received £967
Paid 9 x £280 outstanding balance £5067
Many thanks
Sara (Debt Camel) says
You only mentioned 2 loans in there?
If 5750 is your last loan, you would have a balance to replay of 3230 on that loan alone. But some of that will be covered by refunds from the first two loans.
Sarah Kendall says
Check in email I was told it would be a letter and it came via email next day only by chance I went into my spam mail otherwise I would of gone over the 14 days to accept as I don’t check spam very often.
Johnny says
How many people got their email saying its upheld and the redress will be sent 5 working days after a fixed date, mine was within 5 days after 23rd June, to be honest I’m not holding my breath to hear from them by Tuesday, is it another email they send with redress figure or letter to address, thanks
Lk says
You do get figures in an email, not too sure about to your address.
Johnny says
Yeah I was thinking email, it’s just the way they phrase it saying letter, I’m not expecting it to be done in the 5 days they said though, whole thing goin on since 4th jan
sam says
Did everyone carry on with their payments whilst complaint was pending/being investigated?
Sara (Debt Camel) says
You have to carry on paying UNLESS
a) you can claim a payment break because of covid-19 – in that case your guarantor isn’t chased
OR
b) you don’t mind your guarantor being chased.
What is your guarantor’s position?
John says
Hello
Could i ask please if i had 1 loan for the £3000 which i repaid at £147 a month in 2008 for 3 years . If i win my claim how much will i get back please?
Thank You .. Have a great weekend everyone :)
Sara (Debt Camel) says
At a very rough guess £2292 interest refund plus about £2000 in 8% interest less 20% tax on the 8% which would be £400.
The 8% interest could be out by several hundred.
G says
I have been waiting from January 31st I had two loans last one was sold on to Interim and hammered with charges and more interest.I have repeatedly been fobbed off saying they were awaiting for a response from Interim to buy back my account and settle my redress which is several thousand.I contacted Interim to question their delay and they had no idea of the current status of my account.I hope they chase Amigo for their money as much as both companies hounded me and my guarantor.Lets hope Interim want paid as much as I want the redress which I’m entitled to.I do worry they go into administration and I do see it as a possibility.I discussed with a staff member and James Belamor who held 65% shares in the company is now selling them off 1% at a time.Makes you wonder about it all.
Johnny says
If they had 115 mill in the bank not so long ago I’d doubt they’ll go into admin anytime soon
Pre22 says
Hi, I have put my payments on hold with amigo due to covid 19 but today had a call from my mom to say that they have sent her a letter stating that I am in £400 something in arrears. I thought they were not allowed to go to you guarantor??? Any advice. Thanks
Sara (Debt Camel) says
They aren’t allowed to do that!
This sounds like an error by Amigo, I would expect them to correct this.
But to protect your mum in case they don’t resolve this fast, I suggest you tell her to cancel her direct debit to Amigo with her bank so they can’t take money from her and leave her in temporary difficulties.
Not sure if you know, but the regulator is proposing that the Covid-19 payment deferrals for loans, including guarantor loans – can be extended for another 3 months if you still need this. This isn’t “live” yet but it may well happen in the next week.
But were you managing the loan payments easily before the pandemic? If you had been struggling to pay in order to protect your mum, read the article above these comments which looks at making an “affordability complaint” to Amigo. At the moment the Ombudsman has been upholding a very large proportion of these complaints.
Pre22 says
I have already made a complaint. Still waiting bu t it is also with obudsmen, they emailed at the beginning of May to say that due to covid there will be a long we wait.
Thank you for letting me know this. I also recieved a letter from them to say that they won’t take payments but stated what my arrears were.
I will contact them on Monday for an update all round.
Siobhan says
I’ve finally had my bank statements showing the payments I made to Amigo. It is an old loan from 2008 when they were trading as FLM. Is this going to make a difference? It is with FOS at the moment. They requested the bank statement. I only had the one loan but the statements show numerous missed payments and also show my borrowing from payday companies during the months I did make loan payments to FLM. Do you think this is a strong enough case?
Thanks
Sara (Debt Camel) says
Obviously I can’t see what is on your statements, but based on what you have said, it sounds as though the loan was unaffordable in practice. Do you have the statements from the couple of months before the loan was given?
Siobhan says
No but I could easily order them ones too. They’ll show I was already in debt before taking the loan. I may order them ready in case the adjudicator asks for them.
Sara (Debt Camel) says
yes, good idea. And send them to the adjudicator then, don’t wait to be asked.
Staci says
Has anyone heard anything back who put their complaint in january or before? I have heard nothing and they ignore my emails. Dont know what more i can do now already passed it onto FOS.
I feel relief for everyone whos hearing but i feel like they are shoving mine to one side and im not going to hear anything ever 😡
Don says
You’re definitely not alone. I put my complaint into Amigo last August then to the fos end of September. Chased it up recently with both the fos and Amigo. Have been told by the fos that they’ve been told to hold off on investigating Amigo complaints due to the ongoing work Amigo are doing (I assume he means dealing with the backlog). I haven’t had a reply from the fos to the last email I sent last week. I’ve had to phone Amigo to get any response only to be told several times that because it’s in a queue for the ombudsman they’re not looking at it and to ask my adjudicator for an update. So I’ve not idea what’s happening if I listen to both of them then nobody is looking at it. Fed up of trying to get an honest straight forward answer now. So I really do feel your frustration.
Staci says
Argh so annoying yeah i dont understand how they can look at new cases when there is people sat waiting who put them in ages ago.
STEVEN norman says
I put my complaint in on the 12th feb and got my decision today
Jason says
Still nothing from amigo after months.. Feels like they have been given an extension and have just chinned everyone off just like before! How can they get away with chasing any missed payment a day after but when its on them to provide figures and respond to complaints they can delay and go un punished. Sad times.
rebecca says
Awful James I’m sure itl be a nightmare to get speaking to anyone this coming week, anyone still waiting will be calling for an update. I’m so sick of torturing myself checking my emails I just want to know what’s happening one way or another 😭
Abbie Parker says
Anyone that heard from the FOS that amigo had ‘reviewed their complaint and changed their decision’ received their redress figures yet?
Had the email from FOS on 3rd June and still yet to receive any info from amigo apart from an email on 15th to tell me they have changed their mind and will be in touch with figures.
Getting very fed up of waiting now, I submitted my complaint October 2019.
Fellowman says
I am exactly the same timeline as you. October 2019. Finally got my complaint upheld in june 3rd by fos. I had an E-mail on the 17th from Amigo to confirm my acceptance. But no sign of redress figures or any payment since then. At 36 weeks and counting…
Abbie Parker says
How funny the exact timescales, bar the email from Amigo. I’ve rang them endless and get different dates every time: it’s gone from 10 working days from acceptance with FOS, to 15. Then 10 working days from when Amigo emailed to then 15.
Absolute nightmare, I just want to clear my debts now.
Gemma says
Still waiting on mine! Adele got told last week she would have them by the 29th! Just ridiculous the time just for bloody calculations which could be done in an hour 😩
Adele says
Hey, was was upheld in 22/5, honestly don’t think I will have me redress on Monday.
Thanks,
Adele
pol says
Hi Sara, I put in an affordability complaint against buddy loans in July last year. I had 4 loans in total and they rejected every one. On the SAR data they had my income as £5600 per month for the last loan even though my payslip showed it to be £1550. I have eventually heard from the ombudsman saying they’ve received my complaint then 3 days later I had another email upholding my complaints against all 4 loans, they’ve given buddy loans 2 weeks to respond so fingers crossed my financial future will look a lot brighter. Thank you for your help and advice in all the articles
H J L says
Your complaint about Amigo Loans Ltd
Thanks for getting in touch with us. We’ve contacted Amigo Loans Ltd to tell them about your complaint – so they have a chance to put things right for you first.
Amigo Loans Ltd should get in touch with you soon. If you need to get in touch with them, their contact details are:
……
Please could you explain what this means for me? Received today from the ombudsman
Thanks
Sara (Debt Camel) says
Have you already complained to Amigo?
H J Lawrence says
Yes they’ve had it since January. Would you take that email as my complaint has been accepted by the ombudsman?
Sara (Debt Camel) says
The Ombudsman accepts all complaints, apart from one that are made about products or firms that they don’t cover, or if the firm hasn’t had 8 weeks to consider the complaint yet.
I suggest you reply to the email saying that you sent your complaint to Amigo on dd.mm.yy so Amigo have had ample time to look at it.
BUT FOS at the moment aren’t going to do anything as Amigo has promised to review all these cases. It may be that that is what your FOS email is referring to! So until that ends it’s unlikely FOS will really look at it.
Belle says
Hi Sara,
I put in a complaint against Bamboo loans. I sent it to the FOS on the 17th April 2020, I had an email 2 weeks later to acknowledge receipt but nothing since. Do you now how long it usually takes to be looked at.
Also if my complaint is upheld please could you look at redress for me.i took out a loan for £8000 I have paid 30 payments so far of £315.34 .
Thank you. X
Sara (Debt Camel) says
Sorry no idea what timescales are at the moment. FOS may well be waiting for Bamboo to send over their case file.
So far you have paid £9450 to the loan, so if your complaint is upheld, the balance would be cleared and you would get back £1450
Pre22 says
Hi Sara, currently waitong for a response but was wondering if you could let me know what i would be looking at for a refund etc. All loand were unaffordable so considering all loans are upheld. £2,000 in June 2015.
I took a top up of £2,500 in June 2016 and another of £1,250 in June 2018, I took a final top up of £5,000 in June 2019 which I am still paying, I have 4828.72 left to repay
Natasha says
Hi so I made a complaint to amigo and my guarantor has received this email, will I receive a refund as well or is it just my mum the guarantor who does
Dear *****,
I am writing to you to confirm that following an investigation into N******* loan agreements with us, Amigo has decided to release you from your liability for several of their loan agreements. This means we will no longer expect you to make any payments towards these loan agreements. Amigo will also contact credit reference agencies to ask that any traces of these loan agreements are removed from your credit file. Details of these loan agreements are shown in the appendix at the end of this letter.Amigo would also like to offer you a refund of the payments you have made towards these loan agreements, along with 8% simple interest. A breakdown showing how this amount has been calculated can be found in the appendix. Simple interest of 8% has been included within this offer to compensate you for not having access to this money up until the date when you confirm you accept our offer. This means the refund due to you at the date of calculation (including 8% interest) is expected to come to a total of £9,656.96, plus any additional interest that accrues prior to you accepting our offer.
Sara (Debt Camel) says
That depends on
(a) whether your guarantor accepts the offered refund and
(b) your loans and how much you paid to them.
Are you on good terms with your guarantor?
Have you paid the guarantor back any of this money already?
What is the rest of your financial situation like?
B says
If my amigo account is settled but my guarantor settled it. Will I still owe amigo the money the guarantor has paid? I have had 3 loans amigos and the guarantor made the final payment to settle the account.
She’s has accepted she wants the redress but had no figures yet.
L says
How many payments did they make?
B says
One payment of £1600
L says
The emails state “if your guarantor accepts the refund, your balance will be updated accordingly, and you will be liable for this amount.“
The easiest way to work out is your loans (when was it taken out), how many monthly repayments you made and what amount, top ups (with dates)and cash received from top ups (if any) and whether you still owe any money. If you can reply with all of that Sara or another in this thread can help work it out.
Your guarantor should have received the figures at the bottom of the email he/she received in the Appendices section.
Nikola says
Hello Sara, i have made a complaint on 25th May. Only had emails stating they are looking into my complaint with Amigo. My guarantor have made the last payment and cleared the loan. She have also send them email stating that she knows i have made a complaint and that i was in financial difficulties in first place and shouldnt be given the loan. She also stated that any refund or money she would have been owed she wants it to refunded to me. They have replied to her thanking her for additional informations. Since than i still havent heard anything. Could you tell me please if guarantor send that email would any refund still be given to her? Or now they just gonna deal with me in regards to this.
Sara (Debt Camel) says
I don’t know – I don’t think anyone else has reported doing this. Amigo may still feel they have to tell her how large her refund could be.
L says
Hi
They will still send the redress figures to the guarantor. Your guarantor will need to email and phone to complaints team to tell them what he/she wants to do. Or you can just let her get the refund and sort it between yourselves. There are two separate teams working on the complaints, which is why there’s quite bad communication. I was told Emails are not sent directly to the complaints team that deal with the redresses, they’re dealt with by a complete different team that makes notes on your account or forwards your emails.
Nikola says
Thank you reply, okay we will sorted it out between us. She paid the last amount of over 2k but we had loan of 7250. I was paying everything, she paid the last 2k to settle the account. So will i be due any refund ? Or will the guarantor recieve full rwfund of the loan?
L says
She will be refunded what she paid towards the loan. I don’t know what you will be refunded unless you know how much you’ve paid and for how long.
Sarah C says
Hi Sara
I took out my first loan with amigo for
1500 24 x 92 (1/7/18
Top up 4000 36 x 195 (31/7/18)
Top up 5000 48 x 213 (11/9/18)
Top up 6750 60 x 266 (2/11/18)
No payments ever missed all paid on time in full. I was going to go through a company to complain then I found this site. So I used the template yesterday.
For the last 10 years I have been in my 2500 overdraft never left it I have a very poor credit rating with ccj (due to private parking tickets ) not that amigo know what there for. My garentor only received benefits they purely went on her credit file they didn’t check if she could afford it or not. I only work part time. Within the space of 5 months they topped me up 3 times in total and still kept offering me more. To someone like me that’s asking for trouble. I have 2 disabled kids also that depend on me financially so I just kept accepting and pushing my garentor to do her part. I have explained all this i. My complaint. Do you think I stand a chance and how much do you think I could be looking at. Thanks
Sara (Debt Camel) says
3 top-ups in 5 months!
did your guarantor make any payments?
the top-up loans, how much did you receive in cash?
how many monthly payments did you make to each of the loans?
LEE says
Sara I thought I’d figured this out but wonder if you could cast your eye on the figures…
Loan 1 – Dec 17 £4000 – 3x DD 247.26 / month
Top up 1 – Apr 18 £5000 – settlement of old loan £1316.47 then 3 x DD £309.08/ month
Top up 2 – July 18 £5250 – Settlement £559.39 then 4x DD £256.14
Top up 3 – Dec 18 £6500 – Settlement £1386.97 then 3x DD payment £317.13
Top up 4 – Apr 19 £6750 – Settlement £508.14 then 3 x DD payment of £329.33
Top up 5 – Jul 19 £7500 – Settlement £907.73 then I’ve paid 11x DD £365.92 and will continue to pay that until I hear about my complaint.
Outstanding balance as of today is £6503
If I get the complaint upheld and add the 8%, I’ve worked out that the outstanding loan balance will be paid off and I’d get £2k ish back. Is that correct? Thank you!
Thank you!
Sara (Debt Camel) says
When you said “settlement £1316” do you actually mean you received £1316 in cash from the top up?
LEE says
Yes that’s the money I got back as I topped up, thanks Sara.
Sara (Debt Camel) says
Here is my estimate of the interest you have paid on each loan:
loan 1 425
loan 2 618
loan 3 888
loan 4 693
loan 5 830
loan 6 you still have 3485 to pay before you have repaid the amount you borrowed.
If all the loans are refunded, the interest from the first 5 loans will repay the almost all the balance on the last loan, leaving you just £31 to repay.
On those numbers there wouldn’t be any 8% interest added.
Not sure how you get to 2k?
LEE says
Nor do I so thanks Sara for confirming that :)
A.n says
Hi Sara
I am just after your personal opinion on the current situation.
I, like many others, are awaiting payout. My guarantor and I had the letter and guarantor accepted on 16th June . I understand I will get my redress calc this coming week and that myself and guarantor will be paid out at the same time (no later than 35 days from 16th). This is clear having spoken to Amigo.
My query is more around Amigos state of affairs.
If I accept the email offer will I be paid that amount if Amigo goes bust after that (assume it’s a written contract and payout). Or does it not work like that ?
Also, how do you currently foresee Amigo going? If they go bust do you think this will be imminent or a longer term thing. I guess we know they had 9000 complaints but no idea how.many at this stage.
Thanks and fingers crossed for us all !
Sara (Debt Camel) says
If Amigo goes into administration before you get paid out, you then become an unsecured creditor. You will eventually get paid a percentage of your claim – the same percentage that all unsecured creditors will get.
I know they have a lot of complaints but they also have a lot of money in the bank. I can’t guess what will happen, it may depend what the FCA finds as part of its current investigation into Amigo. There isn’t a date for that investigation to end so far as I know.
Fingers crossed you and your guarantor get your payouts!
A.n says
Ok. I am hoping they have enough cash to get through a good few months so we all get payouts.
From what they have said based on cash in bank and complaint I think administraion could be a possibility but not in short term.
Hopefully anyway.
Jay says
Hi.
I submitted my claim to Amigo back in January, as they hadnt fully responded in the time period I submitted to the FOS. Amigo have today emailed me a settlement (2 of my loans weren’t affordable, 1 was) the conclusion –
The removal of all interest charges under the upheld loan agreements;
A refund of any payments you may have made in excess of the capital amount of the loan agreements, along with 8% simple interest; and
The removal of any adverse information from your credit file in respect of the loan agreements.
They want me to call to confirm if I accept the offer but having already sent to FOS what should I do?
Sara (Debt Camel) says
Do you agree that the other loan was affordable?
NeverAgain! says
Hi, I’m fairly confident my complaint will be upheld ( if they don’t go into administration) but just wondered how much I would be due. Initial loan of £1000, 17 months at £125 then received £2806 to take it up to £4000 . Paid 19 months at £195.16 before clearing £2780 in a lump sum. Guarantor didn’t pay a penny and no loans since. £2806 was credited to account in November 2016. Account settled 2018. Many thanks for all your really interesting posts.
Sara (Debt Camel) says
Some of those numbers seem rather confusing.
“then received £2806 to take it up to £4000”
do you mean you had a top up loan of 4000 and received 2806 in cash?
“£2806 was credited to account in November 2016.”
was this to settle loan 1? or loan 2?
NeverAgain! says
I’m confusing myself. The first loan was settled with the £2806 and topped up with £1793. My statement only shows a loan taken out of £4000. There are no transactions before this top up. Don’t know if Amigo have removed the details of the first loan which now makes me think the first loan was more than £1000. What do you think Sara?
Sara (Debt Camel) says
Do you think you might have had 2 loans before the current one? Because if the first loan was settled with 2806 it cannot also have been settled from the top up loan. Can you go back and look at your bank statements?
NeverAgain! says
Been at this all afternoon so please bear with me. My bank statements only go back as far as 2016 so might need to request copies from the bank.
My initial loan in November 2015 was £3000
8 payments of £180.35.
Top up received 05/07/16 of £1687.07
4 payments of £154.54
Top up received 03/11/16 of £1793.27
19 payments of £195.15
Balance if £2708 cleared by a single payment in April 2018.
I know this is as clear as mud but any figures you can give would be appreciated.
No guarantor payments.
Lesley says
Hi could please someone tell me what to say and include to the Financial ombudsman I’m up to weeks with amigo And them saying they need more time and hope to have an answer in 4 more weeks which I don’t believe after reading the comments just not sure what I need to say to the Ombudsman thanks
Sara (Debt Camel) says
you are up to 8 weeks?
Anon says
Hi Sara
I have come to the end of my payment break with bamboo , still in same financial position as 3 months ago as have been furloughed until end of October.
I requested a further 3 months payment break, which was refused.
I read online newspaper articles that credit card/loan repayment holidays have been extended until 31st Oct? Any idea where I would find official confirmation of this?
Many thanks
Sara (Debt Camel) says
The FCA is proposing a further 3 months of payment breaks (see https://www.fca.org.uk/news/press-releases/fca-announces-proposals-further-support-consumer-credit-customers), this has not yet “gone live” but it may well do so in the next week. So I suggest you keep an eye out for this and go back to Bamboo after that.
Who is your guarantor, what is their financial position like?
I suggest you have another think about whether the loan was affordable at the time you applied for it and if it wasn’t, put in an affordability complaint.
Anon says
Thanks for the speedy reply.
My guarantor is in the same position as in industry that has been hard hit by the virus.
I have put an affordability complaint in with them, but no response as of yet.
Many thanks
El says
I paid off my loan 3 years ago but my complaint has just been upheld. Will my guarantor get any kind of email? No longer in contact with him.
Also how long did people wait for payment after accepting redness? Thank you.
Michael says
Hi there so on the 9th of June I had a email on saying my guarantor is due a refund of £6960 the guarantor is my mum who paid my loan off after coming into some money and I was struggling after having a pay cut in work she accepted and I was told I would be told at a later date that my figure would be emailed to. Today I received a email saying I’m due a redress of £2627 but then they have the figure of what my mum is receiving and have taken the redress I’m due off that and saying my loan balance is 3432 and I will be contacted to discuss payments of this is that right as the loan was paid off in 2018
Sara (Debt Camel) says
Obviously I can’t say if the figures are correct, but the approach is what Amigo normally do.
Would your mum be prepared to give you the money to clear the resulting debt?
What are the rest of your finances like at the moment?
It is possible you could take your complaint to the Ombudsman and say it is unfair that having won your complaint you have been placed in a worse position. I don’t know what the decision would be.
Can I ask if you complained through a Claims Company?
Michael says
Morning I didn’t go through a claims company I did it myself I’m. Just confused to how they work this out It would be a struggle to to repay this back and I don’t see how it’s fair seeing as the complaint was made that the loan was unaffordable to me at the time it’s all very confusing
Sara (Debt Camel) says
ok, so do you have a lot of other debts? Could your mum help out, she could repay your balance and still keep a few thousand for herself?
You can take the complaint to the Ombudsman if you like but I don’t know what the decision will be.
N says
Good morning,
I am currently waiting for my settlement figures but my paynent was due 5 days ago and Amigo are still chasing. I cancelled my direct debit so they don’t have to recalculate. Is it best to call them and explain all this?
Sara (Debt Camel) says
yes, I think that is a good idea.
Bethany says
Good morning . I’ve just rang to accepted my redress offer. How soon was it for people to receive refunds
Amy says
I’ve been waiting 2 weeks since mine was upheld and still no figures have been sent to me ! I will be phoning today as they said within 10 days.
Stevan says
I am on day 11 after accepting redress offer and told within 15 days it should appear in my account. Up to 15 days is what they are telling people.
Some people have received their money within a few days and some have gone over the 15 days.
Bethany says
Thanks . Has your online account changed to settled . They said once it’s changed to keep an eye out and funds will then be sent
K says
I’ve just accepted my offer this morning too, was told should have money in bank by 20th, will just have to wait and see.
Rebecca says
Spoke to Amigo, they advised there may be a delay due to the weekend on any complaints awaiting a decision. Still being told the end of the month I was also told that my calculations hadnt been done as yet and that when they are I would get an email and letter and to respond accordingly. Really hope I’m not being fobbed off. Looks like I’ll have to make my monthly payment tomorrow 😭
Sara (Debt Camel) says
if you expect your balance to be cleared, I suggest cancelling that payment.
rebecca says
I have no idea because I havent even been told which of my 6 loans will be upheld. I reduced my payments due to covid (company reduced or pay for 3 months). If I get a response today I will know and cancel if needs be, dont want my mum getting stressed with emails… Thanks Sara will update if I hear anything
LEE says
Hi there I rang and the lady told me that there will be an extension by FCA but they can’t give an actual date but it will extend past end of June. She said they’ve increased the number of staff looking at complaints but the customer service team get no updates and notes are rarely added to people’s files so they can’t see where complaints are up to.
She was very good in that she was honest and up front (seemingly) but it’s inevitable this will drag on past end of June and she said ‘call us in a few weeks if you’ve not heard anything!’
Weeks! Argh.
JJ says
Hi all
Have spoken to amigo today both from my guarantors side and myself seems to be alot of mis information being passed from call handlers.
Guarantor was told payment to her was to be made by the end of last week and upon phoning today was told the process can take up to 35 days. All dependant upon myself receiving my figures which she was told had been sent out… nothing had been received so I called for clarification and was told nothing had been sent and these should be received by the end of the week. Seems to be no communication going on within amigo so have given up and just hope when it happens it happens.
Hope some others have better luck!
STEVEN says
Hi sara, i would just like to thank.you for all the advice you gave not just me but others on here, i got my decision through from amigo today and they’ve admitted liability and are refunding just over 9k to me, thank you once again you’ve been a star, keep up the good work
Rebecca says
Hi Steven do you mind me asking if this was this morning or this afternoon? Congratulations by the way great news
STEVEN norman says
I got the email at about 8 this morning
paul says
AMIGO UPDATE
All I have just spoken to Amigo they stated they were on course to get all responses out by end of month
REsponse are being sentin batches
1 in AM
1 in afternoon and
1 in early eve
So no need to check your emails every 10 seconds – whether this is true or not we can only wait until tommorow PM –
Good luck all may the force be with you :)
Rebecca says
Hi Paul thanks for this I actually had a feeling after speaking to amigo this morning that this is what they are doing….every 10 seconds would be an improvement lol. Here’s hoping to some positive posts over the next couple of days 🤞
Roxanne says
I recieved my email today , not happy so sent it to FOS
Anon says
I have just received an email as I asked for an update to my complaint & the reply was that it is in a que and hasn’t been looked at yet, so I doubt they will be clearing the backlog by tomorrow.
I complained in March.
Paul says
Hi, I have been reading these posts with interest for some time as I submitted an affordability complaint with Amigo on the 10th of January 2020. Unfortunately I am yet to receive a final response. I submitted to the FOS at week 16, and have recently had an email from them to ask that I consent to them investigating. I had 1 loan with FLM and 5 with Amigo, however I settled my last loan in 2017 having taken it out in 2014. Amigo initially advised me that they were only looking into my last loan due to it being the only one which fell with 6yrs, however they appear to have now changed their mind as they have stated that my case is complex due to having several loans and this is why I haven’t had a final response.
My Amigio loans set me up to fail, as whilst I was paying my loans on time, it was in fear of my guarantor being contracted so I found myself taking out other payday loans and also defaulted on store cards and utility bills. Amigo would also regularly send me letters saying I’m pre approved for top ups, which I often took. I feel this was a terrible practice as they were praying on the vulnerable.
It’s been comforting to read on here that I’m not the only one who has waited this long, and hopefully we will receive response shortly.
Sara, many thanks for all of you advice and support!
James says
Hi Sara, fantastic work and site.
I complained to Amigo back in November, in February they issued a response saying they’ve rejected the complaint. I referred to FOS (who are in a huge backlog) and didn’t hear anything back.
Suddenly, two weeks ago I had an email from Amigo who said they’ve changed their mind and will uphold the complaint. Offered my guarantor £1,300 back and offered me £4,440 back. My guarantor accepted and they said it will be paid within 10 days, 10 days have passed and they said now it’ll be a further 10 days. Not happy.
They refund they’ve offered me, they want to reduce the outstanding balance (£5,000) but I stated I want the cash refunding to me with a payment plan in place. What are my rights here? Am I allowed legally to ask for the cash refund and not let it be taken from the balance or can they just automatically reduce the balance from the redress?
Many thanks.
Sara (Debt Camel) says
they are allowed to reduce your balance.
What is the rest of your financial situation like? Do you have a lot of other debts?
Abbie Parker says
I have just spoken to Amigo to see when I am likely to get my redress considering I accepted through FOS 3rd June.
I have had lots of different dates given to me, 10 working days, 15 working days etc. However, today I have been informed that the FOS team at Amigo do not have any set dates and they have a big back log so cannot make any judgement on when the redress figures will be issued.
Really beginning to think the payment won’t ever come, they seem to have every excuse in the book :-(
Nath says
I was told I will receive my redress within 8 days called on Friday. We will see
Sally says
I think everyone’s being told different things. People are trying them within 3 working days . Is your account closed down on amigo website with a credit balance as soon as that’s available as credit they send money
Gemma says
Oh I rang this morning and was assured I would have them by Friday at the latest as my adjudicator got in contact with them today as they failed to put figures in my final response they said the backlog seems to be clearing a bit now! This has got me so wound up! I wonder if Adele got hers today? They seem to be telling different things all the times ☹️
Adele says
Hey, nope still not got mine, I emailed FOC on 18th to say I still Hadn’t received redress yet and she only replied this afternoon to say she would contact them, I did phone Amigo this morning and they said there has been no update, I explained I received an email 10 days ago that said I would have it in 10 days, they said it would defo be on Monday which is today & today they said they don’t know when & to just keep checking my emails.
Good luck to everyone that got theirs.
Thanks
Gemma says
Bloody hell I was so hopeful for you today Adele ☹️ When date did you receive your email direct from amigo to say they were upholding your complaint?
Adele says
It’s wild, you couldn’t make it up, originally got told by FOC on 18/5 then Amigo on 25/5, then amigo sent me another email of what loands they will be upholding & said the redress will follow in a few days, that was 11 working days ago, i emailed and they said I would get it in 10 working days, I phoned last Friday & was told Monday (today),FOC has emailed tonight saying she chased them & will let me know when there’s a reply.
Thanks
Nsth says
No my account is open
I’ve been told afew different time scales
Firstly I was told 10 days for guarantor to receive refund then withing 5 days I’ll receives redress figures
Phoned Friday was told guarantor will be paid same time as me an I should expect my redress within I days.
So fed up
Gemma says
Has any of you had calculations yet Abbie ? Adele?
Roxanne says
So I made an affordability complaint following what I have read in here to Amigo. They have declined and said I still had enough left to pay them. Where is this money I’ve never seen it, they used national statistics etc blah blah so I’ve sent it onto FOS. What is the usual path from now please?
Leigh says
Hi Sara
I borrowed £4000 in December 2017 and paid 23 or 24 payments of £158.10
In January of this year I topped up £5000 and paid of the balance of the previous loan which was £3,438.39
I have now paid 5 payments of £197.62
Can I complain and if upheld what is the likely outcome?
I now pay £19
Maroon says
If you feel it was irresponsible lending then certainly. We have to remember that although the FCA is investigating, doesn’t mean every single loan issued was unaffordable.
Sara (Debt Camel) says
“I now pay £19”
was this a typo?
Leigh says
Indeed it was, I now pay £197
Sara (Debt Camel) says
If you think the loans were unaffordable – you have had difficulty making the payments, maybe you have had to borow more, maybe got behind with bills – then complain!
On those figures, you have paid loan 1 £3072 interest. On the second loan you still have another c£4000 to pay before you have repaid what you borrowed.
So if both loans are decided to be unaffordable, the balance on the last one would be reduced to £943, your guarantor would be released and you could make an affordable payment arrangement to pay it off.
Jk says
Hi Sara, my colleagues husband was a guarantor for a friend but the friend only made 3 payments on the 3 year loan and then the guarantor paid each month after that, could the guarantor put in an affordability complaint? He is sure that the borrower wouldn’t have passed the credit checks after this whole experience, where would he stand in this please?x
Sara (Debt Camel) says
There is a different page for complaints by guarantors: https://debtcamel.co.uk/amigo-complaints-by-guarantor/. Could you send him a link to that?
Carole says
Hi Sara can you help with a question please. When you ask for a payment holiday from George Banco are they allowed to continue charging interest during this time?
Thanks
Sara (Debt Camel) says
yes they can.
But you have an affordbility complaint in? In that case it doesn’t matter what extra interest you add if you win the complaint as it will all be removed.
Carole says
Yes I did have a complaint with GB, however Wasn’t upheld So sent to FOS couple weeks ago. I’ve paid GB in full now and only paying interest at the moment but I suppose you are correct, if I win it will be a nice little lump sum back.
Thank you
Nath says
Hi Sara. I know I’ve asked for you to have a look at my figures before but it was so confusing how I’d written it. This site has worked for me for alot of payday lenders an has clearly worked for my guarantor loan I first come across this site 2019 an I’ve followed everyday since. Cheers for the great advice.
Could you possibly look at this for me. Of course my credit is crap had been in the payday loop hole for year before getting this loan. I got it to pay debts. paid debt then realised I wasn’t any better off few months later borrowed me to pay the loan. Guarantor being my mum wasn’t happy but didn’t want to see me broke and couldn’t help me at the time. She had paid one payment of £60.43 an she accepted the refund j haven’t had anything yet.
1st loan
7/3/18
4000 3x £247.26 payments
3/7/18
Top up to £5750
Pay out £1965.85
3x £280.54 payments
4/10/18
Top up £7000
Payout £1502.60
3x £299.43 payments
4/1/19
Top up £9000
Payout £2183.48
5 X £355.72
£180
£175.72
£65
£150
£140.72
10x £60.43
Current settlement £10,994.45
Are those the figure you need?? Thank you so much if you can do it
Nath says
Oh an all 4 loans have been upheld.
Carl says
Got my email this afternoon. 2/3 loans were classed as unaffordable and my total redress figure was £6k. Current loan paid off and £3k will be paid within 20 working days.
The lady on the phone told me the existing loan is closed first, up to 15 working days, and then the cash refund will credit my account up to 5 working days later.
The 8% simple interest figure looks really low but I am just happy to be rid of Amigo and have a tidy lump sum in the bank. I accepted the offer even though I maybe could have challenged the interest offered.
Sara (Debt Camel) says
You will get little 8% interest if there is a large balance that was cleared.
Carl says
It was just under £3k that was cleared. Delighted with the result anyway.
Jason says
Sara!
I cannot thank you enough for your help through all this i have been offered a redress on 6/7 of my loans!
What does this mean exactly?
We have now removed your guarantor’s liability for your current loan and have contacted them to ask whether they would like a refund of the payments they made towards your loan agreements. If your guarantor accepts the refund, your balance will be updated accordingly, and you will be liable for this amount. If your guarantor does not respond within 14 days, we will assume that they do not wish to accept our refund offer and their payments will remain credited to the loan agreements.
Would they then add the payments to my current loan?
Sara (Debt Camel) says
I assume your guarantor has made some payments.
Were they large?
Have you repaid your guarantor for these?
Are you on good terms with your guarantor?
Jason says
“5k total aparently and yes she is my mother we are on good terms.
Sara (Debt Camel) says
If your mother accepts the refund, they will then rework your account as though she had not made those payments.
If you are on good terms the easiest thing may be for her to say yes to getting the refund and then given some of the money back to you.
Benjamin says
Hi,
Today I recieved an email telling me that 6 out of 7 loans are being upheld. They have said I will recieve redress figures within 3 weeks. Is this normal? It seems that people have been receiving their figures at the same time as they are being told they’ve been upheld.
Thanks in advance for any responses.
Jason says
I had the exact same email