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
Sherry says
Hi
I complained in Jan 20 and have finally received my complaint email response today. My guarantor also received her email re refunds and redress, she has accepted the offer and has been told to wait 14 days.
Amigo upheld 3 out of 4 loans which I agreed with, due to personal changes in circumstances. I could you possibly give me an an idea what I could receive in redress? My guarantor made x2 payments at the rate of £197.62 on loan 2 and then again on loan 3.
1st loan was for £ 27 Feb 2012 for £2,200.00 over 12 months monthly payments £226.73 – this loan was affordable at the time and I topped up on that original loan taking it up to £5,000 and received £3,314 in my account.
This became loan 2 and is the first one Amigo has upheld, it was taken out on the 13 Jul 2012 monthly repayment £197.62
Loan 3 another top up back to £5000 taken out on 26 Aug 14 month repayments as above
Loan 4 top up to £8000 taken out on 01 May 18 repayments £316.20. Current o/s balance £8064 which I had dropped repayments down to £50 pcm early lock down and now £0.00
I am being told redress email for me could take up to 14 days after calling this Morning.
Hopefully it makes enough sense for you to give me an idea of redress and o/s balance expectations
Ahmed says
Hi emma
No not received been waiting since 15 June..
They said 5 days after the 29th……fingers crossed…
Shelby says
Just spoke to amigo now and my complaint has been in 8 weeks Wednesday ( I know people have waited longer ) , they said to me that expect a exstention on Wednesday as we have a huge backlog
ASk says
So I got my SAR after eight weeks. My first credit report shower an SAR of 275% on the top up in had increased to 575%. A result that would be deemed “good”? Less than 30%! So I was already well over limits and held CCJs on the first loan yet still they gave it. I was desperate at the time and have no idea what I would have done at the time but how can they have ever thought this was responsible lending?
Ask says
Sorry the second SAR should read credit ratio.
Just this Mountie received the “we haven’t got to you yet, you can pass this along” e-mail. 🤯
Anon says
Hello, just wanted to say for anyone that has had a final response don’t be afraid to fight it, I went back to Amigo maybe 1 month after my final response in which they refused any refund, to contest it with them and they have just agreed to refund all interest on 2 out of 3 loans and remove from my credit file, original complaint filed on 28/01. Don’t give up! If you think you have a good case it’s worth fighting.
anon2 says
Hi,
i did the same but they told me they cannot follow up after a final response has been given?
Would welcome any advice you may have?
Thanks
Audrey says
Hi can I ask what is redress?
Sara (Debt Camel) says
“redress” means compensation.
victoria says
Hello everyone!
I phoned them again today ! I was told weeks and weeks ago by numerous People that my complaint is with a complaints handler, which to me when they look at a complaint, it shouldn’t be taking weeks and weeks (March 2nd) anyway a lovely guy phoned me back today to advise me that I had been misinformed and my conpalint hasnt even been passed to a handler yet! He was very apologetic and even listened back to the numerous phone calls I have made and agreed! So he said he has now risen a second compaint with me but they will look into but goodness knows how long that will take. Feel like crying 🥺
Jimmy says
Hi Sara,
Do you know if you can ask for redress to be paid in cash instead of taking it off the outstanding balance? Do we have any rights in this sense?
Thanks
Sara (Debt Camel) says
No you can’t.
You will be left owing a balance?
Do you have a lot of other debts?
Jimmy says
There’s around £1,000 outstanding on the loan after redress.
Yes I have a few which are nearing the end of being paid off.
Thanks again.
Sara (Debt Camel) says
ok, then you can make an affordable payment arrangement for the remaining balance.
Dharmesh says
Hi what does a good case mean?
Sara (Debt Camel) says
are you asking if you have a good case for a refund? You need to say something about your loans and your situation.
Carl says
Hi Sara, ( just first name please )
Firstly thank you for creating such a useful thread. Really appreciated by someone whom is not that mathematically minded. So Amigo have agreed to redress my loans as follows :
12.12.16 £3250 36 months @£158. Topped up to
27.02.17 £6000 36 months @ £292 Topped up to
25.05.17 £7500 48 months @ £331 topped up to
27.09.17 £10000 60 months @£395
Paid £10400 in Dec 2018 to close the loan after inheritance.
Many thanks in advance
Carl x
Sara (Debt Camel) says
if you want be to look at how much you migth get back you need to say
a) how much cash you received for each of the top-up loans
b) how many monthly payments you made to each loan eg 2 lots of £292
Carl says
Here goes………
Nov 2016 £1500 1 payment
Dec 2016 £3250 cash payout £1839 3 x £158
Feb 2017 £6000 cash payout £2789 2 x £292
May 2017 £7750 cash payout £1775 5x £331
Nov 2017 £10000 cash payout £2341 8x 395
Dec 2018 paid off balance of £10400
Thank you so much xx
Karen says
How often do they pay money isit just on a Friday
I’ve accepted my redness today isit 3 days I wait for it sure I read this somewhere
Sue says
Has anyone received payout at a random time during the day or does the payment tend to be there in the morning like most other transactions?
Em says
Would also like to know!
Kelly says
Me too. I keep checking my bank every hour haha.
Gail says
I’m sure it’s sent faster payment so anytime but not sure
I’d love to know I agreed mine Monday aswell so hopefully not waiting to long for my refund. My account still live with ten atm I’ve been told once that goes into credit the refund will be sent and should take 3 days
Kelly says
My account just says it’s settled already as I paid the loan off the day before I got the email saying I am entitled to a redress. Gutted as I had to lend money to close it but I was sick of not hearing from them and just wanted rid of them. I accepted last Tuesday and was told through email it can take up to 10 working days for money to go into the account but I’ve seen lots getting it much earlier on here so now checking like mad
Nina says
Amigo loans have today upheld my complaint t as a guarantor and will give me a refund on any payments I’ve made and also release me as guarantor. My husbands complaint has also been upheld as the borrower and will be having all interest and charges removed 😁, thank you Sara and debt camel could not have done this without you and your website .
frogman says
Hi Nina,
Well done. When did you and your guarantor first complained?
Nina says
Hi frogman we both complained at the beginning of February
Ab says
Morning Sara I know you will be getting this a lot but what’s your opinion on amigo going into admin? I’m a bit worried and they haven’t even looked at my complaint yet which was submitted 10th jan x
Sara (Debt Camel) says
They have a lot of money in the bank. It’s possible they will go under but I doubt it’s the cost of the settling this complaint backlog that would cause it, it may depend on what the FCA says about their lending.
Kevin says
Hi Im using a Claims Company in regards to my Mis-sold loan from amigo dating back to 2015 I took out a £2000 loan with them and had it top up too £5000 I paid 4 payments on first and missed 2 and my guarantor had two pay rest so I could top up to £5000 without any credit checks I struggled for 4 years and I could only mange to pay a few payments back my guarantor paid nearly everyone and I had to pay him back when I could,amigo caused me nothing but stress for years,my claim had been going since April 17th 2020
chris says
The problem being if the FCA say they misold they are likely to go under,
If they say they did not, they will decline 95% of claims.
They seem to be settling lots of the smaller claims and avoiding ones paid mostly by guarantors as that is a much larger pay out.
Sara (Debt Camel) says
I think there are a lot of possible shades of grey in between “mass misselling” and “Just a few isolated problemS”.
Remember the people commenting here are the ones who had problems with their loan. I am sure there must be sone borrowers who didn’t!
I don’t think they are settling the small claims and not the large ones. It’s just there are more small claims.
Rebecca says
Hi Sara I got my response from amigo today they are upholding 4 out of 6 of my loans. I dont really understand the redress though. They are staying I incurred interest of £10654, loan balance is £8736 therefore balance less redress will be 3776 surely this isnt correct. Should the balance not be wiped based on this. Also you had previously advised that you felt FOS would likely uphold my first loan based on the interest I had paid. Is it possible to send this loan alone to FOS and still accept the offer Amigo has provided after getting them to check the figures. Hope this makes sense. I’m just worried about declining and getting very little or having to wait a lifetime
Thanks do much for your help I’m delighted to have some form of decision from them at least!
I have checked again and they have deducted unpaid interest from loans not upheld (5694) it’s very confusing
Sara (Debt Camel) says
“Also you had previously advised that you felt FOS would likely uphold my first loan based on the interest I had paid. “
I don’t think that’s what I said. I said the interest on that loan looked surprisingly large…
You said you borrowed 5225, made 56 payments of £206 than it was settled with £2673 form the top up loan 2.
Were all those numbers correct?
Which loans have they upheld?
Rebecca says
Hi Sara
HELP!! So amigo have upheld 4 out of 6 of my loans. I have just spoken with them to explain the interest. I will try and explain the best I can. So the total interst paid on the 4 loans they are upholding is approx 10k however because they didn’t uphold one of the top ups they are removing the interest that should have been paid on this loan from the 10k leaving me with a redress of approx 4k. This will leave me with a smaller balance still to pay. I also queried the interest I paid on my first loan (the loan was for 5225)total amount paid on this loan was 13500, I mentioned that on their website it states that you should never pay more interest than first quoted, I was told that these were new t&Cs updated in 2014 and my loan was taken out on 2012 argghh. I am going to take the 2 loans not upheld to FOS but just wanted your thoughts/advice
Thanks in advance
Rebecca says
Yes I doubled checked and amigo confirmed the figures were correct
they have upheld loans 2,4,5,6. So I’m going to go to the FOS with loans 1 and 3 but I just wanted your thoughts
Thanks
Sara (Debt Camel) says
So they are offering you about £1100 back?
And conveniently not upholding the first loan where you paid nearly £9000 in interest.
That is a very poor offer. I suggest you send it to FOS.
They should be releasing your guarantor and you can cancel your DD to them. They may huff and puff but they have agreed they owe you money…
Rebecca says
No cash back just a reduced balance the balance 3700 approx should now be interest free when my accounts updated but I really feel short changed as I dont no how they can take away the interest that would have accrued on loan 3 its beyond confusing even the guy I spoke to at amigo said he struggled to explain it. I’m really disheartened to be honest
Sara (Debt Camel) says
On the numbers you gave me that doesn’t sound right. So tell FOS you think loans 1 and 3 were unaffordable too and you don’t agree with amigo’s calculations for the loans they have proposed to refund.
Stevan says
Morning All,
Day 12 since accepting redress and no money paid into my bank account yet.
Clare says
Is your account still open or isit closed
PM says
Have Amigo been given an extension? If not, I think I’ll be escalating with FOS tomorrow. I’ve had enough of them constantly breaking promises.
Sara (Debt Camel) says
No public announcement has been made.
PM says
I’ve rang them this morning and they’re saying they don’t know either. So today’s deadline still stands, they definitely haven’t met their target, and they now cannot give any dates regarding any final response. It’s just a case of them getting round to your complaint as soon as possible. As they aren’t working these chronologically, that update offers no insight at all.
Westley says
I sent a letter of complaint to amigo, just before the coronavirus our break back in late March.
I received an email after the 8 weeks time frame they had, saying due to the current climate they were behind with my complaint. I understand and agreed to give them as much time as needed, as it’s something they couldn’t help. About 3/4 weeks later I rang up just to see how they were getting on. Was told (from 17th June) that amigo we’re trying and hoping to have all final responses to complaints which were filed before the pandemic started, sent out by the end of the following week (24th June). To their credit, I received an email on the Friday 24th June with their final response. (Check your junk mail folder on your emails, this was where my final response)
Accepted their offer on the above date, and was told could take up to 15 days for compensation/refund to be returned.
John says
So after complaining to Amigo in September last year and having all upheld in November and written off with a refund I didn’t have luck with GB so sent to FOS.
FOS picked up and GB came back to me and upheld all loans with refund.
I am saving over £600 per month debt free with money in the bank. Thanks to this website. Keep plugging people
K says
Well I bit the bullet and went back to FOS who emailed to say Amigo have 8 weeks to respond. Complained 5 months ago and heard zilch other than the standard response and the extra 4 weeks email. Fed up with it now. Looking forward to the day where I’ll be free of them for good.
w says
Amigo have officially drained me
I was promised a response today
I was told that email would come in 3 batches
morning – afternoon – evening
As i recieved no email this morning – I calle Amigo to ask if I would be recieving my email in afternoon or evening
The person I spoke to was very helpfull – they are now stating that they have finished my final response – but it was with their quality control team now ( This team is new to me ) – The lady said that it ws good that it was bein checked by quality control as I would get my complaint checked twice and the outcome would be solid ????
Has anyone heard of this team – Or is this just another fob off ?
Sara (Debt Camel) says
We have had a few people here that have been given offers which have turned out to be very wrong. Amigo may have introduced a quality control step to try to prevent these. Or of course it could just be another fob off!
Anon says
Hi Sara,
A massive thank you for this site, it is helping a lot of people better their lives and wipe off needless unfair debt! I applaud you.
Could you be so kind to run the figures on my upheld claim please..
First loan £3,250 paid out … 3 payments made of £158.57
Topped up to £7,500 – £4,419.58 paid out … 6 payments made of £365.92
Topped up to £8,500 – £1,706.26 paid out … 10 paymants made of £414.71
Currently £6,837.32 to clear the balance.
Thank you again for youe help!
Sara (Debt Camel) says
On those figures you have paid the following interest:
loan 1 305
loan 2 1430
Current loan – still £4360 to pay until you have repaid what you borrowed.
So if all 3 loans are refunded, the interest from the first 2 will be used to repay some of the balance on the last, leaving you with £2625 still to pay.
Your guarantor will be released and you can then make an affordable payment arrangement for that.
Anon says
That’s brilliant.. thank you again Sara!
Vic says
Hi Sara,
I submitted my complaint only in Early May and my 8 weeks is up this week. I will go to the Ombudsman straight away. Just reading up on the state of affairs with Amigo and seeing that complaints up to end April were included in this deadline but there are then a surge after that I know I am in for a wait.
I just wondered, what happens if they do go into adminstration prior to my complaint being looked at? Obviously the best case scenario is my complaint is upheld and I get the full redress that others have seen, but what if that does not happen & they go into administration? Is the full amount of outstanding debt still payable? or do we stop paying? I have 3 + years and over 8k balance but have had 7 top ups since 2012 … so if the claim was upheld this would get wiped and I would get redress. I guess I am just wondering, if they go into administration whilst I have a complaint in.. can I least still expect to be shot of them moving forwards but not get the redress? This in itself would be massive for me.
Sara (Debt Camel) says
In general in an administration when someone has an affordability complaint in, they have a “claim” against the company. If they also owe the company money (for the last loan) then they have the right to “set off” those two debts.
I haven’t yet seen how this would be handled in practice with guarantor loans, But the general legal principles remain the same I would expect.
Holly says
Has anybody had any luck with Buddy Loans? I raised a complaint with them in November which was rejected. Sent to the FOS and it was picked up on 28th May – two weeks later the investigator confirmed she had all the information she required but i haven’t heard anything since ? is this a normal time frame?
Marie says
Hi Sara
I just wanted to update I have today 6 months after submitting my complaint to amigo received a final response:,
Payments You Made
Accordingly, Amigo is prepared to offer you redress in respect of loan agreements 30772819, 36275084, 36921842, 37390433, 37805950, 39770003, 41788155, 42521986, 42894197 and 47909675. The redress provided will consist of:
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.
Hooray …. now I still have one current loan with them taken out early last year for £11500..
can you confirm what the above means in regards to the interest being removed from all upheld loans ?
They have also removed my guarantor !
Thanks to this site … I may be free if not in not only owe a small amount unsure at the moment as it’s says they will write separately confirming redress.
that is all my loans the last agreement is my current loan ending 675.. it was for £11500, payments were £454.00 I’ve made 11 payments on this one.
Sara (Debt Camel) says
What they will do is add up all the interest you paid on the loans that have been settled. Say that comes to X.
Then they take the last loan, remove the interest so its just the £11500 your borrowed. Then they remove what you have paid to it so far, which is 4554, giving a balance of £6506. Then they take away the interest total X from the previous loans.
If the Interest on the previous loans comes to more then 6506, you will get a refund. If it is les, then you will still owe a balance to Amigo.
Marie says
Ok great thank you
If I still have a balance with amigo will I still have to pay £454 a month to them until it’s paid or can I reduce this payment the original loan was over 60 months
Sara (Debt Camel) says
No, you can make an affordable payment arrangement to clear the balance.
Do you have other problem debts?
Marie says
Yes I’m with Stepchange I pay £50 a month to them for various debts they then split it between creditors .
I was with step change before I got the amigo loan so wouldn’t be able to add it to that.
Sara (Debt Camel) says
Phone Stepchange up and say you have now wone this complaint and would like to include the remaining balance. They may agree.
How large are the debts in your DMP?
Peter says
Hi Sara
Just had my redress from them upheld 2 top ups but agreed first 2 were not affordable,
was told as no guarantor involvement should be paid out between 10-15 days
Maria says
Hi l telephoned Amigo again today as l have not had a final response. I was told that my complaint was still being looked at. She was very apologetic about not being able to confirm a final response was going to come to me today and asked if l had sent my complaint to the financial ombudsman. I said yes at 8 weeks she then advised me to “contact the financial ombudsman and let them know Amigo have not met their deadline to respond with a final complaint today”. Has anyone else had this from Amigo!!!
Have telephoned the Ombudsman as Amigo advised and told them what Amigo had said. They made a note on my file which had not yet been assigned. I am not sure what else l can do and am getting very downhearted.
PM says
Same situation for me. Amigo told me last week that my complaint was being finalised and to expect a response over the weekend – it never arrived. Chased them this morning and they said it hadn’t even been looked at yet. Their updates are so inconsistent it’s incredible! I then phoned FOS and they said my complaint hadn’t been assigned but they had requested the case file from Amigo 6 weeks ago but still hadn’t received it. They agreed to chase but told me the expected wait time is up to 6 months for these complaints. Not chasing again, Amigo seem to tell you anything just to get you off the phone
Sara (Debt Camel) says
I hope FOS times will speed up with a lot of the backlog gone.
Emma says
So I have had my complaint upheld and my guarantor my dad accepted his offer , they told us 35 days to recieve refund back , has anyone had there payout back and waited this long ? Again thank you to this page for all the help and support
Tracy says
We were told upto 15 days after excepting
Craig says
Hi Sara i have just had my e-mail Amigo are upholding 5 of my six loans saying the first loan was affordable i sent my complaint to fos at 8 weeks although i have accepted my redress can i still have my complaint looked at by the ombudsman for my first loan? or will i have to submit it again? Anyway i want to say a massive thank you to you for this site it’s been a godsend and after complaints upheld by SNC, Capital One and now Amigo I am finally at the end of that dark tunnel. Thank you once again.
Sara (Debt Camel) says
how much interest did you pay on the first loan? How much redress on the other 5 are you being offered?
Craig says
Hi Sara.
The interest paid on 1st loan was £1290 and my redress is £1644.37
Sara (Debt Camel) says
ok, well you can tell FOS you are not happy with Amigo’s offer and you would like the case looked at by FOS. I don’t know how long that will take. There must be some risk that Amigo will go into administration, I’m not saying that’s likely, but it is possible.
Craig says
What i’m saying is if i accept my redress then fos will not look at it, Is that right?
Sara (Debt Camel) says
yes probably – Amigo are making you an offer to settle your complaint, you can’t accept and then send the complaint to FOS. The exception here is if they have decided your last loan is unaffordable, they will be releasing your guarantor, so you get the benefit of that even if you are taking the case to FOS.
Donald says
Finally I’ve had a response Amigo are upholding 2 of my 4 loans!
Absolutely over the moon!
Don says
Hi Sara, firstly as a lot of people have said thank you for all your hard work! So many people are financially in a much better position thanks to you and this site.
Could I ask with your experience what you think will happen with the fos now in terms of will they start looking at the Amigo complaints again? Mine is currently with the fos but they have halted work on it whilst Amigo review the complaint backlog which I understand.
I think we all know Amigo aren’t going to clear the backlog and are inline for getting an extension. If the extension is granted does that mean the fos will also still put on hold any work they are doing on Amigo complaints?
The reason I ask is because amigo have said because my complaint is currently in a queue for the ombudsman they aren’t looking at it and because the fos are on hold they’re not looking at it either, so just wondering if I’m going to have another however many weeks with no one looking at my complaint?
alan says
Hi Sara do you think I have a case in making a affordability complaint against trust two , they gave me a guarantor loan when I already had guarantor loans with amigo and bamboo as well as numerous payday loans thanks for your time
Sara (Debt Camel) says
if you think the Trust Two loan was unaffordable, given all your other debts, bills and expenses, then send them a complaint.
Anon says
Trust Two have been really unhelpful with my affordability complaint and I was in the same position as you, a guarantor loan and about 5 payday loans going as well as a maxed out credit card and gambling sites all over my bank statements and they gave me a loan of £6,500. They point blank refused my affordability complaint. I’m now furloughed and at risk of redundancy and they won’t let me lower my payments either whilst this is going on. Been a bit of a nightmare trying to get them to co operate and they’re leaving me in a really bad way
Sara (Debt Camel) says
Is your affordability complaint already with the Ombudsman?
Anon says
Yes it is, and they just sent me an email this evening advising they have had an update from FCA to state they now do not have to ask my guarantor to cover the shortfall if I have to reduce my payments but they would’ve previously, and have offered another 3 month break but with interest accruing. So that’s some kind of positive, hopefully I have a positive result with FOS
Sara (Debt Camel) says
Good. That extra 3 month break was announced today by the FCA.
Jay says
The more I read into people getting refunds and the case accepted I am worried that my case won’t be strong enough.
When I applied I had a credit score below 100, numerous defaults on credit cards. I was earning £1000 per month self-employed and they didn’t ask for proof of this. I don’t have any gambling debt just tons of other debt before taking the loan out. Guess I will have to wait and see. Still trying to get my bank statemnets as its with a cclosed business account and its internet based.
Sara (Debt Camel) says
Lots of people have won cases with no gambling.
Gambling tends to get talked about because people who had a gambling problem often had a highish income so they are worried their cases are weak, when they arent.
You know if the loan has caused you a lot of problems. If it has then it may well have been unaffordable.
Lucy says
Hi Sara,
I’ve heard back from Amigo this afternoon, and they have told me they will uphold only 1 out of 3 loans.
I don’t agree with this and have emailed FOS an update as I had already emailed them at 8 weeks.
Do I have to respond to Amigos email to say I reject the offer or to let them know I have forwarded it to the FOS?
I don’t want them to think i’m ignoring them and something bad happens?
Sara (Debt Camel) says
Do you still owe Amigo any money? If you do, is the loan they are upholding the last one?
Lucy says
Hi Sara,
Yes, id still owe them around 5k after the redress and it is only the last one they are upholding.
Sara (Debt Camel) says
ok, well they should release your guarantor from the loan anyway, regardless of whether you accept their offer or not. so from that point you will be able to offer a reduced affordable payment.
Have Amigo asked to say whather you accept the offer?
Lucy says
The only thing the email says about responding to them is; “Please call a member of our team on 01202 835170 to confirm if you accept our offer and, if a cash refund is due to you, provide your up-to-date bank details so we can make payment to you.”
Can I email them to say I have forwarded the complaint to the FOS but I would like to amend my monthly payments in the mean time?
Sara (Debt Camel) says
Yes you can do that by email. But it may be simpler to just phone them and say.
Fiona says
I was the guarantor for a friend who ended up borrowing about £8000 over a period of a year or so.
The payment were not being made on time and so I paid the loan off at £8500 as her guarantor. The account was closed over one year ago. She did not pay me back the money I closed off the loan with.
Today I had an email saying I was due a refund of £9100, which I accepted.
What now happens for the borrower (my friend) with regards to refund or redress – I really don’t understand.
We are no longer on good terms, because of the loan/ borrowing situation.
Does she also have to accept for me to get a refund? Will she also get a refund? Will she owe money and be worse off for me accepting? I’m really confused and Amigo weren’t particularly clear with me today.
Sara (Debt Camel) says
Did you put in a complaint to Amigo or did she?
Fiona says
She did Sara. Thanks for the reply.
Do I submit a complaint also?
Ask says
They are giving you the money back and will cancel any interest on the loan. Then any payments your friend made will go towards to balance of the amount borrowed and Amigo will ask her to set up a plan for the rest.
Just an estimated guess though.
Fiona says
Thanks Ask. There is no outstanding balance as I paid it all off in total for her.
Sara (Debt Camel) says
Amigo have decided the loan was unaffordable for her, as she complained. This means they should never have given the loan, so you should never been on the hook for it so they are refunding you your money.
As she hasn’t made an arrangement to pay you, I suggest you accept what is offered!
Amigo will then rework her loan account without your settlement amount. As she has won her case interest will also be removed. And as she had made a years payments they will also be removed from the balance. So she is likely to end up owing Amigo somewhere between 3000 and 5000.
She can then make an affordable repayment arrangement for this. It is effectively an interest free loan for her, if she can only pay £40 a month, that is what she should offer.
So yes she will be worse off from you accepting – but then you are a lot worse off from having to settle this loan. If you feel sorry for her you could offer her the £600 extra you are getting in 8% interest.
Fiona says
Oh wow I genuinely thought that as it was paid off in full then that was it done. I didn’t realise that she would still owe an amount.
I’m truly grateful for your clarification and help with this. Amigo wouldn’t give me any scope of what my cousin’s outcome would be.
Thank you Sara!
Sara (Debt Camel) says
oh it was done. But your friend reopened the account when she choose to make the complaint.
Sara (Debt Camel) says
There is no need for you to complain, you would not get any more money than what you have been offered. If you turn this down, you then can’t complain yourself.
Fiona says
Thank you, that makes sense.
M says
I’ve just been told by amigo that the FCA requirement has been removed as they could see it was unrealistic. My complaint was made 22 weeks ago but apparently still with the complaint team ‘being looked at’. The person I spoke to said I need to wait until i receive the ‘breakdown’ of it all, I’m not even sure what that means. I just want a final response now, it’s so stressful waiting, being told different things and having no idea when it will all be over. It almost feels worse knowing that so many people who complained after me have received final responses already and some have even had their payout. Kind of feels like they are deliberately leaving certain complaints until last.
Claire says
I feel the same, i was also told today someone is looking into my complaint and actually said to me I will receive an email and I can either accept or decline it which was confusing I’m also on week 20 just feel like I am not going to get a final response :(
Steve says
Hi Sara,
This is new territory for me now. Amigo have come back to me now saying I can refer my complaint to the FOS if I am not happy with the outcome of the letter. Sorry to ask you this and I am sure you have been ask this loads before. But can I get some advise on what to do next or can you point me to where there is the guidance.
Details of what they have sent below.
Dear Steve,
Thank you for your email and I do apologise for the delay.
In response to your email, I understand you are not happy with our decision regarding your complaint. You do have the right to refer the complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.
If you do not refer the complaint in time, the Ombudsman will not have our permission to consider the complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.
There is more information about the Financial Ombudsman Service at the following website:
http://www.financial-ombudsman.org.uk
Their address should you wish to write to them is:
The Financial Ombudsman Service
Exchange Tower
London
E14 9SR.
Kind regards,
Thank you again I really appreciate your help so far.
Sara (Debt Camel) says
this was the weird case where Amigo upheld loan 1 but not loan 2, but has reduced your balance on loan two and released your guarantor?
I suggest you send it to FOS. See the article above for how to do this. Explain your two loans and your complaint and why you are not happy with Amigo’s offer.
Steve says
Yeah that’s the one. Many thanks. Will do. I will keep you informed on the progress.
M says
They have sent me a text since to confirm they can’t provide a timeframe as it would be unrealistic bit have said they will contact me when they have an update or figures. Surely they actually have to uphold my complaint before committing to figures. I just feel that they are telling us anything to get us off the phone now but if they just dealt with them we wouldn’t need to phone. Waiting for a response is more anxiety provoking than actually paying the loan was.
L1991 says
Finally got my response from Amigo this evening. They’ve upheld one of three loans which I think in balance of things is fair. The first two Loans they rejected but the third upheld with over £5k being refunded which I’m over the moon about. Now just got to wait on TFS response! Thank you for everything you’ve done on the group Sara.
P says
The email came
Sara thankyou soo soo much for this site – Its gave everyone hope knowing your not alone
my current loan has been written off and I have getting a payout
Any says
Has anyone been paid since Friday
Anyone who is waiting on refund is your account still open or closed with credit on
CP says
Hi, yes, artived in bank at 1810hrs, 10k, fingers crossed for everyone else and huge thanks to Sara.
Sur says
That’s great news. When did you accept?
CP says
Hi Sur, Friday 12th of June, so 12 working days to receive.
Sean says
I have had my redress email of £1420, contacted them to confirm I would like to accept and was told the payments will reach me within 3 weeks, has anyone had a payout already? If so were you told 3 weeks? And how long did it actually take
Mark says
Has anyone had any luck with TFS? The FOS are now dealing with my case from December last year.
L1991 says
Wow I thought I was hard done by at 9 weeks from them. They’re very quick at responding to update requests and half expected a quick reply from them but sent the extra 4 week email to me recently. Strange since they’re not talked about too much so I’m surprised they’d have a backlog. Did they reject yours or just no final response?
Andrea says
Mine got declined by TFS within 1 day lol because I was a week over the 6 year mark, so it went to FOS straightaway that was over 16 weeks not heard a peep yet. How long has yours been with the FOS?
K says
Received my email :-) can someone shed light on what the amigo fees/charges are? I have never missed a payment so don’t understand why these have been applied. Part of me wants to argue them but the other part is saying take the £8k and be done with it. Thank you so much Sara and this site. Amigo have upheld 1 of my 2 complaints. The noose has gone :-) :-) :-)
Sara (Debt Camel) says
can someone shed light on what the amigo fees/charges are? I have never missed a payment so don’t understand why these have been applied
can you copy in the bit of the email that mentions these?
They have upheld one out of your two loans? Can you say something about the other one they haven’t upheld?
K says
They thought loan 1 was affordable for me because I’d not had any adverse credit 6 months prior to the loan.
Total Interest £10,302.11
8% Simple Interest (After Tax Deduction) £569.37
20% Basic Rate Tax Deduction on 8% Simple Interest£142.34
Fees and/or Charges £1,982.68.
Total Redress Payable
£8,888.80
Sara (Debt Camel) says
Good god. No idea.
Ask Amigo what these are immediately!
K says
Loan 1 that wasn’t upheld was via a broker loan 2 that was upheld was through amigo themselves. The fees possibly relate to the broker for loan 1 – is that allowed?!
Sara (Debt Camel) says
a) broker fees aren’t normally that large!
b) if the second loan has been decided to be unaffordable, you should be refunded ALL interest, fees and charges on it. And what happened to previous loans does not change that ata ll.
K says
Hi Sara
The fees/charges are for unpaid interest on the loan that wasn’t upheld. I’ve accepted the redress. Mentally exhausted with it all. Now it’s over. Nice to be able to breathe.
Sara (Debt Camel) says
was that the first loan? Wasn’t it settled with the top up loan?
K says
Well I would have thought so but that’s what they are telling me it is. It probably shouldn’t be the case but I’ve accepted the redress. It’s now over for me. No more worrying where the next payment is coming from or scrimping on the weekly shop. Thank you Sara and this site. I feel relieved.
Sara (Debt Camel) says
OK, it’s up to you. It is nearly £2000, but if you are very happy with the result you have, that is fine. It will understandably be a pleasure to never have to deal with Amigo again!
Andrea says
So is anyone else feeling a tad deflated at not having any kind of response yet?
I’ve seen loads today getting a theirs And happy that the backlog must be getting smaller now, but its like the goal post has been removed completely now.
They missed the deadline so why rush and panic …
Stace says
Hi,
My guarantor accepted the refund last Wednesday, I had an email today to say it will take roughly 5 working days from today for me to get my redress figures…what’s the likely hood of this actually happening?
TIA
LEE says
Me too Andrea, so fed up with it. I’m at week 16 and I know there are others who have waited a lot longer which must be doubly frustrating. Who knows how long this is going to take
:(
Andrea says
I’m at 16 weeks for Amigo ( and 16 for FOS with TFs loans)
Donald Donaldson says
Also as a follow up, my guarantor HAS NOT made any payments to any of my loans, but Amigo has emailed her saying she is due a 3.5k refund.
Its all very confusing….. unsure what to do. If she doesnt get back to them to accept does it just get refunded to me?
Or do I risk calling them and informing their info is wrong and she has never made payments?!?! HELP
Thanks in advance Sara
Sara (Debt Camel) says
Oh! I’m not sure what the risk is here, as you know the guarantor hasn’t paid anything, I suggest you tell Amigo straight away.
Amy says
Morning all :) I accepted my offer from Amigo and was told I’d get my figures within 10 working days , I phoned up on Monday and the gentleman told me my 10 days was up Tuesday (yesterday ) and I would have my calculation ready by the end of that working day , surprise surprise I haven’t and my account still shows the same amount still owed , I’m so confused shall I phone again? I am not in contact with my guarantor anymore so I have I no idea if she has been contacted , she shouldn’t have because I have always paid the payments and she has not put any complaints in herself as she has not needed too. The whole thing with amigo is so stressful. I understand that they are busy but to get told things and then it not happen makes me think the worse.
Sara (Debt Camel) says
Yes phone again :(
Your guarantor should not be contacted except to say that she has been released from being the guarantor.
Cl says
Morning Sara, I had this email this morning
Thanks for your email.
Please don’t worry, we have a record of your complaint and your concerns will be looked into before we issue our Final Response as soon as possible.
We’re currently trying to help lots of customers and our ability to respond to complaints has been impacted by the Covid-19 crisis, so please don’t worry if you don’t receive a reply from us before the 8 weeks is up, we will keep you updated with the progress of your complaint and when you can expect to receive a reply from us.
Thank you for your patience, and in the meantime if you feel you will struggle to continue to manage the loan please call us so we can discuss what alternatives may be available.
I already paid it this morning if I hadn’t they would of been in contact with my guarantor which is my mum and she can’t afford to pay it either! Left with nothing as usual!
Sara (Debt Camel) says
are your finances affected by coronavirus at all?
Cl says
No but I’ve been struggling with the loan since I can remember it’s just leaving me
With nothing at all. I explained
Circumstances had changed in the email since I took it out. Probably about three months after I had it and I’ve been with them 6 years now.
Sara (Debt Camel) says
what were your mum’s circumstances when you took the loan – could she really have afforded to make all the payments to it?
Cl says
No she never made any payments as she couldn’t afford it and isn’t working now she was working at the time but isn’t now. Just stuck in a hole and seems
To be getting deeper financially I’ve told them this when putting in a complaint.
Sara (Debt Camel) says
ok, could you suggest that she also puts in a complaint saying she should not have been accepted as the guarantor as the payments were not affordable for her? See https://debtcamel.co.uk/amigo-complaints-by-guarantor/ which has a complaint she can use.
This then gives you a second chance of winning – if you win your complaint or she wins hers.
I’m not saying your complaint is weak, I am just thinking these complaints go at an apparently random rate and a complaint from her may be sorted first for no good reason?
Cl says
Hi Sara
Yes she has sent a complaint also to state the loan was unaffordable to her also and explained the situation also she doesn’t work anymore .
Sara (Debt Camel) says
In that case you could both cancel your DDs to Amigo with your bank. She will get some cross emails and texts but if she has cancelled her DD they can’t take money from her.
Cl says
But they haven’t sent me a redress or anything like that at all won’t they just go after her for payment or send threatening letters if we both cancel DD if I don’t pay it, I really don’t know what to Do, all they have sent me is an email saying they were looking into
My complaint and if I was having problems
Paying to ring some number! It has already come out my bank by the skin of
My teeth I payed it never ending circle it seems, hoping something good comes
Out of all this mess!
Sara (Debt Camel) says
yes they will go after her. But if she has cancelled the DD, they can’t take her money and leave her short.
As I said “She will get some cross emails and texts but if she has cancelled her DD they can’t take money from her.”
While she has a complaint in, they cannot take her to court.
This is up to you, it depends how much difficulty paying the loan is causing you and whether you think you mum will be very upset by Amigo asking her to pay.
V says
Received my Amigo redress email last night and accepted this morning. Over the moon is an understatement! £280 better off each month and £8k refund. Thank you Sara. If it was not for you and this site I would have finished my payments in September and that would have been me finished after 5 long years. I had two loans but only one was upheld. My first 1 was found to be affordable. I’m not going to argue the case. It has been a stressful time and it’s now over. I feel like I can live again. Was told it will take around 3 weeks for the payment to arrive. Will be checking my bank about 100 times a day now instead of my emails! I put my complaint 5 months ago.
Sara (Debt Camel) says
can you have a look at the details of your calculations.
One person yesterday had a line which says “Fees and/or Charges” – is there one in your calculation? because Amigo are not allowed to deduct these!
Nick says
Sorry to jump in i accepted my loan and have been refunded 2 weeks ago but i have this Fees / Charges part and they deducted £978.58 is there anything i can do.
Sara (Debt Camel) says
I suggest you say you would like to know what this is for as you don’t think it is correct. See what they come back with.
You can always put in a new complaint saying it is unreasonable – and I can’t think of a situation where it would be reasonable! – but it’s good to get some more info before complaining.
Nick says
I have emailed them now and will wait for the reply . Would i still be able to claim these back now i have accepted the loan and been refunded ? Thank You again for all the help.
Sara (Debt Camel) says
I hope so if they should never have been deducted.
V says
Yep I have the same but I’m one of the ones who is done waiting/fighting. Ironic for 5 years I have had sleepless nights about money going out my account and how much I will have left until the next payday and now I’m having sleepless nights about it going in!! This has practically ruled my life. I take it I can cancel my DD now?
Daniel says
hi does anyone have the complaints number? at week 18. thanks
Annemarie says
After 10 weeks I finally got my decision. They have upheld 3 out of 4 loans. Total refund is just over 10k but after they take off my balance will get 6k cash.
The lady on the phone said it will take 15 working days and should see the funds in my account by 22nd July.
My direct debit comes out on the 15th and she told me not to cancel until the money was in my account.
Has anyone else cancelled DD after accepting?
Sara (Debt Camel) says
can you have a look at the details of your calculations.
One person yesterday had a line which says “Fees and/or Charges” – is there one in your calculation? because Amigo are not allowed to deduct these!
I suggest you cancel that DD!
K says
Hi Sara, there is a bit on my redress that says fees/charges but it’s 0.00.
Anon says
Hey,
So to those of us still waiting for a response is there anything that we can do other than another complaint to FOS?
Not even an email to apologise that the deadline hasn’t been met!
s says
thats what i was wondering – pointless emailing as just get a generic response as per usual – dont even get told if your case is being looked at its beyond ridiculous- hear cases who have just been put in getting looked at but when ures is 20-25 weeks and more and nothing?
Rachel says
Hi
Today after speaking to Amiago they said it is taking 35 days to refund Guarantor and Borrower after upholding an unaffordiability complaint. They said they unitentionally giving the wrong information previously. Does this seem right ?
Shem says
Hi all,
I had mixed success with payday loan refunds a few years back but enough to clear my debts and start afresh, In January I raised a complaint with Amigio even though I had used payday refunds to clear my balance I still thought it would be worth raising a complaint given that I was given several top ups despite a clearing worsening situation at the time. I have not really chased but followed the threads here, Today at 24 weeks I have had a response with 3/4 loans upheld, the first one was over 6 years ago and I am content that they could not of seen the deterioration of my finances at that time, it was more the top ups I was concerned with so have happily accepted £2508 refund to e paid directly to myself as no balance owing. They have set out the amount I paid over the capital clearly in the email and I agree with it, the 8% is slightly lower than I calculated but I am aware from guidance on this site that they have their own weird way of working it out and I am happy enough with the offer.
For those waiting for refunds to land, the lady said although I had rang to accept and give bank details that they have to wait the full 14 days allotted for acceptance before they can release funds and then to expect it to be a further 5-7 days for funds to reach my account. I’m not sure if this is a new line or not lol but thought helpful to share.
Thanks as ever to Sara and this amazing site.
Shem
Gemma says
Jeeez they really like to make up there own timeframes for everyone it’s getting really frustrating how they keep getting away with all that are doing! If it’s not the refunds it’s the way they are calculations are set out and the endless amount of people say waiting for just calculations (including me) is an absolute disgrace!!!
Mr B says
So 2 out of 4 loans of been upheld by Amigo.
Quick question. They have offered to refund my guarantor the payments she made on one of the loans.
Now, my guarantor has no interest in being refunded if its more beneficial for me that she isn’t refunded (as I had already paid her back what she had paid)
Can anyone clarify the best course of action?
Sara (Debt Camel) says
Do you agree the earlier two loans were affordable?
You will be slightly better off if your guarantor takes the refund and then gives you the money. Amigo has to pay more 8% interest to the guarantor as it is on all their payments whilst you only get refunded the interest and with you the 8% doesn’t start until much later.
But it’s not a huge difference, you may think it’s easier For her to say No.
Mr B says
Thanks Sara,
I was a bit worried as they way they worded it was if my guarantor has a refund then I am left liable for whatever she is refunded.
I’m not very good with numbers and finding it all really confusing!
So of she doesn’t contact them within the 14 day period then the refund she was due will then be directed to me? Less the 8%? Am I interpreting that correctly?
Sorry for the barrage of questions
Sara (Debt Camel) says
if my guarantor has a refund then I am left liable for whatever she is refunded. my guarantor has a refund then I am left liable for whatever she is refunded.
That is right, less the 8% part.
but if she gives you the money you will be better off because of the 8% part.
Mr B says
Thank you,
It may be easier for her just to ignore them and i will loose the 8% as she is quite elderly and finds talking to them on the phone really stressful and I think she’s been stressed enough with everything.
Her refund was around 3k so this will now be refunded to me now then.
Also Sara thank you for everything you do on here, it gave me the confidence to break free of the shackles of Amigo that I’ve had on since 2013.
Claire says
Hi
Those who have had a final response, Did anyone get an email in the evening if so what time or can we just assume if we haven’t received anything before 5pm we will not get one that day.
Thanks :)
Andrea says
So we can have a little break from checking emails every 3 minutes lol oh how I feel your pain the wait is terrible now 🙈
Claire says
Exactly I just want the final decision now, 19+ week I have been waiting and others even longer, I hope we get our decisions soon fingers crossed for us both and those still waiting :)
L1991 says
My email came at 17:17 precisely. Gave up checking emails for the day and then looked by chance and saw it!
Gemma says
Hi Sara my investigator has just informed me that amigo have contacted her and clarified they had to recalculate and this is why it’s taking longer to get my figures and states I will have them this week. Then I received an email from amigo stating this
We are sorry for the length of time it is taking to get your figures to you. As my colleague Steven advised this is due to the high workload and the amount of loans you had that we are calculating.
As soon as we have the figures you will be made aware, you will receive the redress it is just taken longer to confirm the amount with the FOS and you.
Do they confirm first with fos now I’m totally confused now??
Sara (Debt Camel) says
I don’t think they confirm the amount with FOS!
DC says
Hi Sara
Today I had an email from bamboo with a redress of 3.7k thank you so much for all your help! This is definitely going to help me.
I’m still waiting on amigo loans and buddy loans but as these loans were all out at the same time, is it likely that they will uphold the complaints also?
Sara (Debt Camel) says
I can’t say it’s likely, but Bamboo agreeing probably shows you were in a mess!
NeverAgain! says
How long did it take Bamboo to get back to you?
DC says
I put my complaints in January and they isn’t uphold it but the ombudsman got in touch with them and they are now upholding it – money refunded within 7 days they said
elektra says
Hi Sara
my guarantor had made 4 payments on behalf of me- I reimbursed her back- but amigo will refund her and then she will return the funds to me – this is fine to me. She accepted her refund last Friday and they said it’ll take 10-15 days to get her refund.
They have advised me that:
We will send you a separate letter detailing the breakdown of your redress amount and confirm any outstanding balance or refund amount no later than five working days after 1 July.
However today I received this:
Thank you for your email. Once the guarantors refund has been processed, we will issue you with the redress calculation from our transactions department, that takes into account any payments made to your guarantor and the impact on the balance. As soon as we have this information we will send you the details.
I’m furious! I have replied to them that this is misleading information.. Could I have your opinion please?I will immediately forward this update to FOS as well – they have not yet dealt with my complaint.
Thank you so much
Sara (Debt Camel) says
what is the problem?
elektra says
I have Sara, they are now saying I need to wait for my guarantor to get refunded first and then they will send me the redress – the information I’ve received before was that I will be getting my redress ”no more than 5 working days after 1st of July’. I was never advised I need to wait for my guarantor to be paid first and then get my redress figures. Thank you very much
Sara (Debt Camel) says
ah ok, timimg of payments. Amigo do seem to be shifting the timescales around.
elektra says
thank you for your help Sara! I called them immediately and complaint for the misleading information I got today – especially as the advise was actually given to me on that email and twice on the phone as well. I will update you asap I get more information, Thank you!
A.n says
I have been back and forth with amigo a few times on this. As a result I think I am pretty clear now on the policy …
Guarantor has 14 days (not working days) to accept their offer. After this you will get your calc within 5 working days. You accept and then your 14 days has to expire. Following this refund is processed for both you and guarantor at the same time within 5 working days.
The whole process from the 1st email to guarantor is 35 days and will not be any longer.
Hope that helps.
Margaret says
Evening Sara
I hope this email finds you well. I was wondering if you could assist with what my possible outcome could be with Amigo on my history with them :
Nov 2016 £1500 1 payment £62
Dec 2016 £3250 cash payout £1839 3 x £158
Feb 2017 £6000 cash payout £2789 2 x £292
May 2017 £7750 cash payout £1775 5x £331
Nov 2017 £10000 cash payout £2341 8x 395
Dec 2018 paid off balance of £10400
Thank you so much xx
Sara (Debt Camel) says
I make the interest you have paid on the loans as:
loan 1 -27 (odd – this should not be negative)
loan 2 435
loan 3 559
loan 4 1564
loan 5 3560
If all those are refunded you should get £6091 back plus about a thousand in 8% interest.