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
andrew says
Could you help me work this out
5,000 first loan £309 x 11 payments
Top up £6000 received £2401.48 in cash – £292 ×20 payments
Top up £6500 received £2163 in cash – £432×5 payments
Top up £7000 received £998 in cash – £401.80 × 6 payments
Top up £9000 received £2797 in cash – £439.× 29 payments
£3087 outstanding
Sara (Debt Camel) says
On those numbers I make the interest paid on each loan as:
loan 1 1998
loan 2 4177
loan 3 1662
loan 4 1615
loan 5 3731
Which if they are all refunded is a total of £13,183. Plus well over a thousand in 8% interest
Andrew says
Thank you fingers crossed I hear something soon .
Maria says
Hi all
My complaint has been picked up by a FO and they have emailed to say “ We’ve contacted Amigo Loans Ltd to tell them about your complaint – so they have a chance to put things right for you first“
Has anyone else had this and how long after did Amigo respond to you please
Jase says
Hi Sara I recieved an answer on my complaint and they are upholding 6/7 of the loans saying the first one was affordable. Could you help me work out how much of a refund roughly i would be recieving please?
Loan 1-£5,000 Nov 2014 -243,95 x 7 (This one they said was affordable)
Loan 2-Top up to £5,000 -197.62 x23
Loan 3- Top up to £6,250- 304.93 x1
Loan 4-Top up to £7,250-353.72 x1
Loan 5-Top up to £10,000-395.25 x 16
Loan 6-Top up to £9,750-602.70 x2
Loan 7-Top up to £10,000-318.16 x18
Remaining balance is £4,686.86
Sara (Debt Camel) says
Can you say how much you received in cash for each of the top ups?
Jase says
Loan 2-Top up to £5,000 -197.62 x23 Paid out 529.55
Loan 3- Top up to £6,250- 304.93 x1 paid out 2222.63
Loan 4-Top up to £7,250-353.72 x1 paid out 1100.66
Loan 5-Top up to £10,000-395.25 x 16 paid out 2843.69
Loan 6-Top up to £9,750-602.70 x2 paid out 826.30
Loan 7-Top up to £10,000-318.16 x18 paid out 810.20
Sara (Debt Camel) says
On those figures I make the interest paid on each loan as follows:
loan 1 1172
loan 2 3559
loan 3 204
loan 4 260
loan 5 5244
loan 6 644
current loan, only paid 5724 so far, still 4276 to pay until you have repaid the 10K
Getting a refund on 2-7 adds up to a cash refund of £5635 and the last loan wiped. Plus a few hundred in 8% interest.
BUT are you sure the figures are correct? £318 a month isnt a normal repayment level for a 10k loan?
Jase says
Oh thats a typo sorry the final loan was 618 a month not 318.
Sorry for the double message i couldnt see the original one.
Sara (Debt Camel) says
ah then you have paid a lot more! You have then paid £1124 interest on the last loan. That adds up to a total of interest paid on loans 2-7 of £11,035
Jase says
So the last top up i thought the interest would be alot higher i worked it out by looking at my statement to be around £4,500
Sara (Debt Camel) says
Loans with balances outstanding can be confusing. When you look at your statement, it looks as though you have paid a lot more interest – if the loan had continued to the end, that would be accurate as the interest paid on the loan. But as interest is removed from this loan, what actually matters is whether you have repaid more than the amount borrowed, so effectively diverting all your paymenst to repaying the principal until that is repaid, at that point you start paying interest. Amigo calculate it in a sligghtly different way but it will come to the same amount.
LEE says
Can anyone who’s still waiting for a response please respond to my post with how long you’ve been waiting.
I’m now on week 18.
Might make me feel less alone! :) I’m rooting for everyone still in this weird holding pattern.
Thanks
Andrew says
I’m week 18 Monday no point ringing I get told same everytime ..just got to wait 😢
Staci says
I am week 24
Got told 26th id hear by from them
Then got told is hear by the end of this week
Then got told the person shouldnt of told me a date and they dont have a date so i could cry i quit asking
Rang fos the person didnt even know amigo was a guarantor loan who answered and said they have a team who look at it so i take it it isnt picked up there that was put in at week 12 lol
Gues i will hear in 2021 so angry. Surely they should have llooked date order complex or not complex
Sara (Debt Camel) says
I know it’s infuriating, but I expect you to hear before October! Hopefully very soon.
Andrea says
17 weeks yest! We all seem to be about the same time
Claire H says
Nearly at 23 weeks, feeling really fed up now, I spoke to FOS a few weeks ago and they told me that they were giving Amigo until 2nd July to respond but still not heard a peep
Kimberley says
I’ve been waiting since 8th Feb beginning to think I have been forgotten about. Its so upsetting I check my emails 1000 times a day to see its really causing my anxiety to flare up bad now. Rang 2 weeks ago and it hasn’t even been looked at at all yet according the woman I spoke to 😢
E says
If gives anyone any hope i sent mine in 11th or Jan and heard back 26/06! Waiting for my refund now. Good luck everyone.
Bethany says
When did you accept your redness
E says
I accepted on the 26/6 the day I received the email. Fed up of waiting now.
diane says
i accepted on this date as well and i havnt recieved mine either my loan also shows as still active are we supposed to carry on paying
Sara (Debt Camel) says
can you say something about your borrowing? Are all the loans being refunded? did your guarantor make any payments?
how large was the last loan and how much have you paid to it?
diane says
i had 4 loans
1 3500
2 4750
3 6500
4 7750
never missed payment they have said all but the first was unaffordable and offered 9000 minus the last outstanding balance of 5000 leaving a refund of about 4000 to me but my account has not yet been closed and still waiting for money im worried i have to carry on paying till they settle this
Sara (Debt Camel) says
if they have said you will have a cash refund then I think you should cancel the next payment.
In their figures was there a line for “fees and charges” or something like “interest on unpaid loans”?
Claire El says
Week 19, hoping I hear something this week and hope you do too :)
Maria says
Week 22 trying to think positive I will from them soon
Tina says
I’ve been waiting since the 9th Jan with very little response from them. I hope you all hear from them soon, it is so stress inducing and when you tell them this, they send you a medical questionnaire asking very personal details and whether you want your medical condition mentioned on your file. I find it quite amusing that they have asked more questions about my mental health than they ever did about my finances when I took out the loan 🙃 Has anybody agreed to complete this questionnaire and found it helped in any way?
Sandra says
I also had the the same but it states you don’t
Have to reply I’ve sent them all the information on my affordability complaint that’s all they need!
C says
This has been such a lengthy process for me…
I originally sent my complaint to amigo in dec19
They took the 8 weeks asked for the extension, then email saying no. I then struggled to fill in the form for fO finally did that last month, this still hasn’t been picked up. But I received an email from amigo 2 weeks ago now saying they have reviewed the complaint and are now upholding. I got my redress yesterday, I can’t accept it till tomorrow when they are open…
I never started this process thinking this will happen to me. But it has!! I am now £400 better off a month and what we worked out I should be owed it’s actually double!! So I am also getting £5k into my bank!!!
A huge Thankyou to this page..
Can I ask how long it has taken for people to get their money paid into their account from accepting?
Lisa says
Hello not sure if I am eligible to make a complaint as I’m still paying my loan. I feel the relevant checks weren’t done to ensure I could pay this loan. And my credit file would show me in arrears etc.
Loan 1 – £2000 paid £97 for 3 months then topped up to £5000 I have to date paid 12 months of £244.
I was just looking for a bit advice before I go ahead with this.
Sara (Debt Camel) says
Half the people here are still paying a loan! If you know the loans were unaffordable so you have struggled to pay and pay have had to take out more credit, then put in a complaint.
Matt says
Hello,
I am so happy that I found this discussions and your advice .
My situation is :
1st Loan – March 2018 -1000 pounds , paid 3 months x 48.79 pounds
2nd Loan- July 2018 – top up – 1750 pounds, paid 4 months x 85.38 pounds
3rd Loan- Dec 2018 – top up – 3000 pounds – paid 3 months x 195.16 pounds
4th Loan – March 2019 – top up – 5000pounds- paid 4 months x 197.62 pounds
5th Loan – July 2019- top up – 5500 pounds – paid 6 months x 217.39 pounds . And I have another payment of 90 pounds.
The account was settled at 6400 pounds. My guarantor helped me to pay the loan earlier, because she didn’t want troubles in court or ccj. He sent the money in my bank account and I paid directly to Amigo. Can I still complain in this situation ? What I should I do to have money back from them to return back to my guarantor?
Most of my loans and top ups I took them cuz I couldn’t afford to live with so many loans and I was gambling a lot in that time.
Many thanks
Sara (Debt Camel) says
Yes you can still complain, the fact you were given the money to settle the last loan does not mean they were affordable. So many top ups in such a short time suggests Your finances were getting worse and Amigo should have looked closely at your situation and seen the gambling.
I suggest you use the template letter in the article above to send in a complaint. Do include bank statements with this.
If you win the complaint the refund all goes to you if you made all the payments, then you can repay your guarantor.
Matt says
Thank you very much .
What amount of money could I expect to get back from them if they will accept my complaint ?
Best regards , really helpful .
Sara (Debt Camel) says
do you know how much cash you received on each of the top-ups?
Matt says
First loan I took 1000 pounds .
Second top up – around 500 pounds
3th top up – around 700 pounds
4th top up – around 900 pounds
5th top up – 580 pounds
As far as I remember these are the figures . With a small difference , cuz I couldn’t find all the emails and in my Amigo account I have just the last loan as history statements. Hope will helps .
Many thanks
Sara (Debt Camel) says
On those figures (whuch may not be accurate) you have paid the following interest on each loan:
loan 1 250
loan 2 890
loan 3 1685
loan 4 708
loan 5 2292
if all loans are refunded that would add up to £5825. Plus a few hundred in 8% extra interest.
Stevan says
Morning All,
16th working day has passed and still no redress paid into my account.
Email received on the 12th June, Accepted on the 15th June, loan was paid off last year by me, no GT involvement.
Rang them Friday afternoon, to be told that it could go in bank up until 7pm and to ring back up today if no funds. The lady I spoke with right at the end said there has been some know delays?
Absolute joke.
L says
Agreed. Sick of waiting now.
A.n says
How long have you also been waiting ?
I accepted on Friday but I can see some people are paid even before the 14 days from what I am reading
What am have been the pay timelines for all others paid?
Seems very strange.
L says
I haven’t even received my redress figures yet – they’re late. My guarantor received his accepted. I just don’t understand why they didn’t delegate cases to agents and have them complete them then move onto the next case if that makes sense. So some of us feel forgotten and like you said, others get after three days.
Stevan says
Just rang them and now was told to ring back after 3pm as payment could go through before then and they can’t look in before then.
I honesty started to laugh whilst he was telling me that and also they can’t process all payments at any one time as their system will crash so they do it in batches.
They must have dial they spin for the responses to us.
Anyone been paid yet?
Amber says
Firstly what a great website this is so thank you.
I put my claim into Amigo 15 weeks ago and still all i get is we are looking into your complaint due to Covid its taking longer,
Sara do you know whats the time scales for a decision and also i have worked out the following and was wondering what you think i should expect back from them.
£7500 Loan paid 20 x £296.44mth which is £5632.36 then i got another loan to pay this off so the balance i then paid was £6855.34 so i ended up paying £12487.70.
Could you give me any idea what to expect?
Thanks
Sara (Debt Camel) says
Have you sent your complaint to the Financial Ombudsman? If not I suggest you do so – Amigo should have responded in 8 week, allowing a few weeks extra for Covid is reasonable but 15 weeks is not! See article above for how to send a complaint to the ombudsman.
You have paid about £5000 in interest on that loan. How long ago was it settled?
The loan you took out, was it at a reasonable rate of interest? Are you struggling to pay that? what are the rest of your finances like?
Amber says
Hi after the 8 weeks I contacted the ombudsman but they seem to be on a backlog too. I settled the loan in June 2018 the interest was 49.9% so I ended up borrowing again to pay it off. I had poor credit and struggled to pay it but I made sure I did but also I told them my guarantor was also in debt and has mental health issues so I don’t believe they looked into our finances correctly either.
Sara (Debt Camel) says
then you should get about £800 in 8% interest added less 20% tax on that £800.
Now the loan is closed, the fact Amigo didnt check your guaranot properly is irrelevant – all that matters is whether you could afford it.
The loan you took – who was it with? if the rep\yments to that are causing your problems you mat be able to make an affordability complaint about that too…
Amber says
Sorry so is it’s the £5000 interest plus the £800 for the 8% or just the £800?
Sara (Debt Camel) says
PLUS :)
So 5000 + 800 – 160 (for the tax on the 800) = £5640 at a guess – the 8% is very approximate.
Non tax payers and basic rate tax payers can usually reclaim the tax deducted from HMRC.
Paul says
FOS has upheld my complaint with Amigo and my guarantor has been offered a sum – there seems to be a redress amount that I’m waiting for – not heard of this – can anyone shed any light…
L says
If you have received an email from amigo it will state a certain date you will receive the figures (e.g. 14/07/2020) and you have to wait within five working days after that date to receive your figures. Once you accept them, you’ll have to wait 15-35 days, it seems to be different for everyone.
Ken says
So I just got off the phone from Amigo to accept my redress (which was £1000 better than i expected!)
Just incase anyone is wondering why they haven’t been paid yet- I was told it COULD take up to 35 days.
And now I wait….
Good luck everyone!
PM says
My guarantor has done the same this morning, and was also told 35 days. However, I was previously told the 5 weeks was broken down as; 2 weeks for the guarantors to respond to their offer, 1 week for my calculations to be sent, 2 weeks for payment to be made. I’m hoping this is still the case, 2 weeks is more than enough time for the payments to be made!
PM says
I stand corrected having just spoke to Amigo. After the guarantors are contacted, there is a standard 2 week wait time, then 5 working days for the borrowers figures, then “up to” 2 weeks from acceptance for payment. Seems very excessive but it is what it is.
Fay says
Hi Sarah
I have had my claim acknowledged by Amigo and I am awaiting final decision
Could you give me an indication of what I would be looking at getting refunded please
1st Loan £3000 I paid 27 payments of £196
2nd loan (top up to £7000) I have so far paid 42 payments of £296
Thanks
Sara (Debt Camel) says
how much cash did you receive from the top-up?
staci says
I am devasted they got back to me and said only upholding the last loan
told me i have £12000 plus to pay on this still even though it was a £10000 loan and i have paid £10,103.96 – i actually only received £3301.74 in payment as they took the rest as my second loan top up
my second loan i only got £3163.64 out of £6750 – they said they are not upholding this
my first loan i got the full £4000 but i paid 10 months of £292.70 before they topped me up with the £6750 and payment out as above – taking almost half the loan up with top up figure
I have rejected their offer asked for a review and copied ombudsman into my response as i feel that all my loans werent affordable- they said they go off what u say only and national statistic checks which showed i have loans of expenditure – which i did not as i lied and no proof was asked – i actually had no expenditure and got into more and more debt to be able to make one payment or another – i cud cry
L says
Would be interested to know what days and times people have been paid on? Most comments show Friday evenings?! Anyone been paid on different days and during the day rather than between 6pm and 7pm??
Jamie says
They told me they working 7 days a week and can be processed ok every days
Matt Smith says
Finally received my payment of over £10,000 this morning. My complaint was from September, I had to wait just over 4 weeks to get my calculations. I called an provided my bank details on Friday and was told it will likely take 14-21 days. I then got a message from them late on Friday to say there was an issue with the bank details I sent and requested a screenshot of bank details which I sent and they have just paid me now. Thanks so much Sara for all your help and advice, I’ll make a contribution to my local Citizen Advice centre (I’ve got that right?) as I know you dont take any gifts.
Sara (Debt Camel) says
A small donation to your local Citizens Advice would be great :)
Nath says
I’m getting so frustrated.
I rang up 2 weeks back and was told I would be expecting to receive the redress figures within 8 working days which is today.
My guarantor accepted there refund on the 19th June 2 days after receiving there figures only 1 payment small amount.
Today I’ve called an they apparently have no record of the guarantor accepting but it has passed the 14days.
So even if they say the guarantor hasn’t accepted refund I should have received figures ??
What’s people think . Really getting to me now
Fellowman says
Another week in this saga. I’m totally in despair now, had enough. Week 36 in total since Nov 2019. I’ve waited 5 weeks for redress figures. To be told today by Amigo there is no longer a timescale, i’ll get them one day. 🤷♂️. They refused to escalate my concerns, claiming there is nobody higher to refer it too. FOS not interested as they have done their bit. So now it’s wait an unknown amount of time and hope they don’t go into administration first. There is zero order to these claims being finalised, its chaos. Absolute scoundrels
Ruth says
Hi Sara,
First off I want to thank you and this site for all the help!! I sent my complaint in to Amigo at the start of April and they have told me last week that they are prepared to offer me redress in relation to 6 out of 8 of my loans! They told me they would write to me shortly to confirm the details of my redress. I haven’t heard anything yet but if I list my figures below could you give me an idea of what to expect?
Loan 1 – 28/3/2016 – £1000 – £103.06 x 5
Loan 2 – 1/9/2016 – £5000 – £243.95 x 4 (This was a top up – previous loan settled with £596.55, payout of £4403.45)
Loan 3 – 6/1/2017 – £7500 – £296.44 x 4 (This was a top up – previous loan settled with £4718.61, payout of £2781.39) – This loan was then paid off by card on 17/5/2017 with a total of £7399.36
Loan 4 – 11/9/2017 – £10,000 – £395.25 x 16 – This loan was then paid off by card on 18/2/2019 with a total of £9862.90
Loan 5 – 17/5/2019 – £1250 – £77.27 x 6
Loan 6 – 5/12/2019 – £2500 – £121.97 x 6 (This was a top up – previous loan settled with £1055.64, payout of £1444.36) – This loan is currently ongoing
Thank you :)
The two loans not refunded were taken out in 2014 before the first of the loans being refunded
Sara (Debt Camel) says
On those figures I make the interest paid as follows, assuming you made all the payments, not your guarantor:
loan 1 112
loan 2 691
loan 3 1083
loan 4 6182
loan 5 268
loan 6 still to pay 1774 befoe you have repaid the 2500 borrowed
The total interest refund across all 6 should be about £6562. And there should be more than £500 of 8% interest added.
I assume as the first two loans were old (and possibly small?) that you are happy with the decision that they were affordable?
Ruth says
One was for £1000 and one was for £5000. But I haven’t got back to them about those. I assumed I wasn’t able to do anything about it. I had referred my case onto the FOS at week 8 anyway.
Sara (Debt Camel) says
well it’s up to you. I make it your refund would be about £7000. If you want the older two loans looked at the case will have to go to FOS and may take a while. You cant accept the refund on the 6 and also send the first two to FOS.
Jon says
Hi guys, has anyone’s complaint gone through the financial ombudsman, if so what information do they ask for. Would like to know so I can get everything in order for when they get in touch.
Simon says
As much evidence as possible is normally what they ask for. If you have bank statements showing the loans were unaffordable that will support your claim massively. If you haven’t already, forward them the final response if you have it.
pol says
Hi Jon, mine has recently gone through ombudsman. They asked for bank statements 3 months prior to all loans and a copy of my credit report. Good luck with your complaint
Garylee says
Hi,
If I reject an offer from Amigo and head to the FO… can they decline to come to another offer again? As they state it is their full and final offer?
I had two loans, one for £5000 taken in July 2017 and a topup of £10000 in September 2017, just two months after. They have upheld my complaint for the larger but not for the initial.
Many thanks,
Garylee
Sara (Debt Camel) says
Have they given you numbers for the redress calculations?
Garylee says
Hi,
Not yet, my guarantor just accepted their direct offer to him a couple of days ago so nothing for me yet.
Jay says
Hi!
Put in my claim in March via claims firm
Received my redress figure and due date in the same email ( accepted 4th July , due 18th July)
14 days from accepting will keep you updated.
Don’t lose hope
Fellowman says
I am happy for those getting there complaints upheld with redress figures and promise of payment in 14 days. It’s good to see. However i am totally annoyed that there is no order to these being finalised. 5 f-ing weeks i been waiting just for figures. No one seems to care at either Amigo or FOS. WTF is going on. I’ve exhausted all avenues. I give up.
Gemma says
Hi fellowman seems there’s a few of us in this position! I was assured by 3 different people that I would have a figures by last Friday and nothing they even told my adjudicator that they were recalculating my figures and I would receive them by Friday at the latest… and what a surprise nothing I’ve now got to get back in contact with my adjudicator again as she said give it till Monday at the latest! It seems all is that are in fos are being held back even though we have had the longest wait!! Almost makes you feel like your being punished for doing the right thing for going to the fos. Utter disgrace the stress is unbelievable!
Lynn says
So my husband accepted his offer on friday but was told 35 days for payment from when he gets his letter…. we had a figure given to us in the email accepting our claim so do we still have to wait on a letter? They were very vague. Its very stressful and appears everyone is being told different things…..any advice would be great. Thanks
Gemma says
If you had your figures I’m pretty sure your just waiting on a refund! We are waiting on our redress figures as this was not applied in our final response (which is wrong) I hope you get your refund soon.
Tim says
Hi,
Has anyone had any update from TFS Loans? I am fast approaching 8 weeks with no update since the initial acknowledgment.
Thanks
L1991 says
I’m at week 10 with TFS, I chased at week 8 they said they sent correspondence to say they need an extra 4 weeks. I didn’t get that though.
I’ve sent to FOS anyway as their acceptance rates look poor from reading through this thread, so I’d recommend you do as soon as you can. On my case I don’t think they have a leg to stand on, I sent bank statement to prove income for my loan which shown £0 left over along with 4 priority payments bounced in that month. They still gave me the loan!
Dip says
TFS refused my claim back in December, and I sent over to FOS. Last week I had my claim upheld by FOS and sent back to TFS, who requested more information and appear to be contesting the decision.
If they don’t agree, it will be escalated to an Ombudsman, and my adjudicator informed me it could take up to another 10 weeks.
Tom says
Hi Sara,
I’ve received my response today which says I’ve paid £12,093 interest, and when I looked the other day to settle my loan today it was £12,200.
They have said for some reason it only reduces my loan to £3,000 – how does that make sense?
Sara (Debt Camel) says
Were they refunding all your loans? Can you look At the calculations they have sent you – is there a number for “fees and charges” or “interest on unpaid loans”?
Tom says
I think I may have seen why.
We refunded the payments your guarantor made towards the account. These were posted back onto the account and you are liable for these payments, under your Agreement. We then used your interest refund towards the outstanding loan balance.
We’ve calculated the refund due and I’ve included a breakdown of this below:
Interest paid : £12,093.54
This interest refund has been applied to the current outstanding capital balance on your current loan. This has reduced your outstanding loan balance to £3,064.94.
So they are saying by refunding my guarantor that they’ve added them payments back onto my account, is that possible? Surely that doesn’t make sense.
There is no calculation of refund or fees, purely just one figure
L says
They’ve laid it out poorly, but basically yes, they treat it as if your guarantor never made any payments (as they’ve refunded them those payments) so you are then liable. The complaint has reduced your balance a lot though so that’s good :)
Jason says
Hi sara recieved a email last Saturday saying yes I was miss sold my loans and they are at fault and they will give me my figure on the 17th of this month.
As I have paid them all of any way will that help at all
Never missed a payment but not sure what kind of figures I’m looking at.
First loan was
2750 and cleared
2nd was 4400 then
3rd loan was 5000 but that was a top up on the 2nd 1 a year later and payed off in full.
Any info would be great
Took them 14 weeks to get back to me and obviously after 8 weeks sent to fso.
I’ve never rang or emailed amigo at all as yet as for wouldn’t know where to start or who 2 ring and as there email said they will write to me on the 17th of this month.
Should I chase them up or hold fire.
Thank you
Jason
Sara (Debt Camel) says
If your ould like me to look at what you should expect to get, you need to say for each loan how many monthly payments you made eg 8 payments of £159, if there was a final settlement you paid to the first loan and for the 3rd loan, how much cash did you get from the top up? Also how long ago was the 1st loan settled? and the last loan?
Jason says
Good morning the first was 125.99 36 months
2nd was 173 over 60 months made 18 payments of 173.91 .and 3rd got 600 pounds but had to take 5000 at 197.62 60 payment’s made and cleared
Sara (Debt Camel) says
On those figures I make the interest you paid roughly:
loan 1 1786
loan 2 3114
loan 3 6820
so a total of £11,720
That is assuming your guarantor didn’t make any of the payments.
Plus some 8% interest. When was the last loan settled?
Jason Rock says
Thank you sara 💓.
I’m really shocked at that figure I was hopeful at most 3000.
Thats gone beyond my widest thoughts..
Should they miss the dead line do you have a phone number or email address for me to make contact for when the deadline has passed. I will only contact soon as that is done .
And thanks again
Jason
Sara (Debt Camel) says
Well double check the numbers you put here…
You just need to wait for the figures,
David says
Hi Sara
I took out £8000 loan with Amigo in October 2019, when I applied I was in a DMP and I was gambling heavily. I am glad to say that I have not gambled since the 8th December 2019, however I have the daily reminder of large debt. As I only have 1 loan with Amigo, how likely is that I will get redress on the interest of this loan?
Thanks
Sara (Debt Camel) says
That is a very large loan – a DMP on its own would probably make repayments hard.
Lots of people have got refunds for only one loan. If you think it was unaffordable at the point you applied for it because of your DMP and the gambling, then send in a complaint.
Sue says
Spoke to Amigo again this morning. Their excuse for people getting paid within different timescales is that certain amounts need further checks to be carried out. This must be an excuse as I’ve seen large amounts get paid a lot sooner than others. I’ve also been told they do 2 payment runs a day Mon-Fri.
Sara – The reason for my £500 fee is because my first loan was taken via a broker!
Sara (Debt Camel) says
So the £500 was being credited to you, increasing your refund? Not decreasing it?
Sue says
£11,573.74 – Total interest
£2,000.58 – 8% Simple Interest after Deduction
£500.15 – 20% Basic Rate Deduction on 8%
£500.00 – Fees &/or Charges
£14,074.32 – Total Redress Payable
Sara (Debt Camel) says
oh no, that’s ok, they are crediting you the fees.
repayment = 11573 (total interest) + 2000 (8% less tax) + 500 (fees) = 14074
phew!
LEE says
Hot an email today and thought it was the final response but no, it’s to tell me there is a delay and to contact FOS. Cruel! At least they responded to an email I sent a month ago chasing it up!
Stevan says
Good luck with those waiting on payouts into your bank.
I’m on working day 17 after accepting redress and still nothing. No GT involvement so should be straight forward, no bank details change.
Just basically told yesterday that all they can do is notify the department that’s handling the payments however they don’t respond back to emails from the call handlers. The call handler said he would ring back with an update to me , to which I even joked that he wouldn’t. Surprise he didn’t call back. They are lying to us and on regular basis….
Diane Atkinson says
This is not fair if it was owing them it would be a different story I’m waiting for mine also has your account closed mine hasnt
lynn says
We were told 35 days after the letter agreeing the amount…. although we haven’t had a letter but we had an email detailing the amount we were owed so I’m hoping that was the letter. We rang to accept on Friday so 35 days from there maybe
Annemarie says
I accepted my redress last week and just keep checking if my account has been settled but it hasn’t. What I have noticed is that interest keeps being added. Surely once you accept this shouldn’t happen? Anyone else noticed this?
Sara (Debt Camel) says
This shouldn’t matter.
You should get the same redress or a tiny bit more if they recalculate the 8% at the point they pay you.
Kath says
Hi Sara
I need some help-
So yesterday amigo finally emailed me with their response-
They have upheld 3 out of 4 of my loans-
The first loan was for £6250- 12 x £247.03 which was NOT upheld.
2nd loan was for £8750 – (payout £2718.45)
4 x £345.84
3rd loan- £10,000 (payout £1289.85) £487.89 x 5
4th loan- £15,000 (payout £5608.96) £592.87 x 6
I am so confused as they have said they are going to remove £9053.83 from my balance which at present stands at £17,302! And say that I still owe £8248.85
I find this extremely hard to believe as with the amount I have paid comes to £10,344.39 so how can I still owe that much- I had a load of waffle about interest being charged etc for the first loan but having gone though statements interest has been paid on this as I took out a tip up loan which cleared this loan- they are saying they are removing the interest off the last three loans- does this make any sense or am I completely off- so confused!!
Jemma says
Where do you find all of your figures please?
Kath says
This was all in the DSAR information they sent me along with paperwork I kept from when I took the loans out. Hope this helps!
Gemma says
I worked it out that you paid roughly £6700 interest so amigos calculations are about right if you take that of the capital amount you have to back on loan 4 £15000. Hope that helps it can get really confusing when you have a few loans.
Sara (Debt Camel) says
On the figures you gave, I make the interest you have paid on the loans roughly as follows:
loan 1 2746
loan 2 1341
loan 3 1827
loan 4 No interest paid so far as you still have to pay £11448 until you have repaid the 15k borrowed.
So if loans 2,3,4 are refunded the balance would be reduced to £8280 – pretty much what you have been quoted.
I find this extremely hard to believe as with the amount I have paid comes to £10,344.39
yes, but that includes the first loan…
If the first loan was refunded as well, the balance on the last loan would reduce to about £5534.
I had a load of waffle about interest being charged etc for the first loan
It doesn’t sound as though there is a deduction from this. Other people have had one and it is QUITE WRONG so if you can see in the figures that they are taking off money for this, come back and say!
The remaining balance – it would become effectively an interest free loan where you can set up affordable repayments. Your guarantor should already have been told they are being released. If you have a debt management plan, the Amigo balance can now simply be included in that. OR if the rest of your finances are very difficult, this would be a good point to look at insolvency (bankruptcy? a debt relief order?) as this will no longer have an effect on your guarantor.
At the moment your choice is to accept this OR say that you also want the first loan refunded and will be asking FOS to carry on with your case.
As they aren’t offering you a cash refund, I can’t see much downside in you saying you want the first loan to be looked at by FOS.
Jemma says
Hi Sara,
If you have 5 mins your advice would be amazing as I’m currently in bits.
I received my redress this morning and here are my figures from over 5 loans (3 are being upheld)
Total interest £10, 314.14
Unpaid interest £1,130.85
Total redress £9,183.29
Current loan £12,519.32
Balance less £3,336.03
Now I understand how lucky I am to have this wiped off but due to the interest the loan is so much higher and I still owe them which will still leave me in a horrible position. I’m genuinely devistated and don’t know which way to turn. Do you have any advice at all? Thank you
Sara (Debt Camel) says
“Unpaid interest £1,130.85”
Amigo should NOT be deducting money for this.
You can complain about this and I also think you should inform the regulator that Amigo are doing this as it is quite wrong.
But the other question is should they have refunded the first two loans? because that would have improved the result, perhaps not by much by perhaps by a lot…
If your would like me to look at what you could have got from the first two loans (I am, assuming the two not upheld were at the strat?)
you need to say:
for loan 1, what tou borrowed? how many monthly payments you made eg 8 payments of £159?
For loan 2, how much you borrowed, how much you received in cash if it was a top-up, and how many monthly payments you made eg 4 payments of £187?
For loan 3 (the first being refunded? – how large was this loan and how much did you receive in cash?
Stacey H says
Hi
Can I ask for some advise please, I have raised a complaint myself with amigo and it is now past the 8 weeks response time they have sent me an email to say it is due to the covid-19 issues and staffing which is fair enough. They have said I can now go to the FO due to it being past the 8 weeks. Do I just wait and give amigo a little longer or make the claim with FO.
Thanks
Stacey
LEE says
I’d forward on to FOS, I did that at 8 weeks as I was pretty confident that I wasn’t going to hear. That was May and I’ve heard very little from FOS as they’ve got a backlog too now so don’t expect to hear anything from them straight away.
Christopher says
Hi sara,
Amigo have accepted my complaint on my 2 loans. Could you please give me my possible redress figure.
Loan 1 £3300 paid 12 × 151.09
Topped up to £5500 which I recieved £2800. Paid 40×217.39 then I paid £1878 to clear the loan.
Thanks for you help
Sara (Debt Camel) says
I make the interest on the two lons as folllows:
loan 1 1212
loan 2 5058
so a total of £6270.
Plus some 8% interest depending when the last loan was settled?
Christopher says
Hi sara,
Thanks for your reply. The last loan was settled june 2015. Will I still receive the 8%.
Thanks
Sara (Debt Camel) says
In that case you should get about 40% more… less 20% income tax on this 8% part. So just over two thousand extra
Christopher says
Ok Brill, thanks so much sara. Really appreciate your time and help.
Take care,
Will let you the final outcome end of month hopefully.
L says
Hi Sara
I’ve just accepted the refund as my mums guarantor of £9,500. After I’d paid 23 payments of £395 of a £10,000 loan. My mum has paid 10 payments toward it. The balance left is still around £8,000. She’s now worried that because I’m getting the payments back that her loan will now be massive but surely it can’t go over the original £10,000? And we’ll be able to use my refund to pay off balance?
Thanks
Sara (Debt Camel) says
I am assuming you mum just had the one loan here.
surely it can’t go over the original £10,000?
no it can’t!
In fact her balance should be reduced to 10000 – 3950 (the payments she made) = £6050. So you could clear that off and there is still 3k for you (or for her if you want to give it to her).
BUT what is the rest of your mum’s financial situation like? If she has a lot of other debts, now this guarantor loan is gone she could look at other debt solutions including insolvency? That could clear all her debts and you could later help her out with some cash if she needed it?
L says
She actually had 3 loans but final 2 being upheld. She took out £6500 in March 2017, 3 payments of £256 then top up to £8500 July 2017, (I’m not sure what cash she received on this one) and only made one payment of £335 and then topped up to £10,000 in September 2017 with payout of about £1400. She’s doing a lot better now than when she took out loans and it’s only really been this payment been leaving her with nothing each month so once we’ve got rid of it it’s going to be amazing! Hopefully all goes straightforward with refund going in now!
Thank you so much
Sara (Debt Camel) says
ok, well look out for when she gets her detailed calculation numbers – if they have tried to add on amounts for “Unpaid interest” like this example https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-44/#comment-374306 come back here as that should be removed.
L says
Ok that’s great I’ll make sure we double check everything once her figures comes through. She’s been told no later than 5 days after 21/7
Tracy Smith says
Can anyone tell.me if it 14 days or working days my garantor been waiting to be payed since 9th June absolute joke
NAG says
Same Tracy – Said they were upholding my complaint on the 9th and offered my guarantor a refund on the same day. He accepted straight away. I haven’t had the figures, guarantor hasn’t been paid and nor have I! I’m really struggling with this now – I understand they’re busy but nearly a month is crazy. They won’t answer emails anymore and aren’t much help on the phone! It is totally ridiculous
Tracy Smith says
I got my figures last money still no refund to garantor or my account updated no response from amgio after they lied about timescale to be and garantor I think I we should give them a ring they use fast payment only takes little while
L says
I have been ringing almost evening asking what takes so long they use fast payment?! And all they say is ‘there is a backlog and we are going as quick we can’ don’t understand how some people wait over the 14 days yes someone people wait on 2/3 days?!? It’s so annoying
Jason says
Anyone else still waiting figures im on working day 12?
Fellowman says
35 days i’ve been waiting for figures.
AB says
Hi has anyone had a loan with TFS loans and had a complaint with them? I have been going back and forth for the past year and half with my complaint and I just wanted to know if anyone has been successful.
Andrea says
They refused mine in one day, due to it being over 6 years ( by one week) do it’s gone to the ombudsman the same day, that was 17 weeks ago not heard anything else.
Have you sent yours to the ombudsman?
Ab says
I have sent mine to them, but they have come back saying they can’t see it as unaffordable But they wil look again if I can send back statements. I don’t agree really as they can see if my credit file I had other stuff and also my gurantor was a pensioner. I used the same for amigo and they accepted my complaint and refunded my loans
Simon says
Your credit file doesn’t tell them if its unaffordable, your bank statements will. I had one last December that they sorted within 2 weeks of seeing my statements.
Ab says
Ok thank you I have requested statements as the bank I had then I don’t have anymore
Natalie Q says
I received an email from FO and amigo they are upholding my complaint.
• The removal of all interest charged under the 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.
In addition, we will remove your guarantor’s liability for the loan agreements.
My loan amount was £7000 from 2014 to present still £5000 left as a balance but so far I have paid £14665
Any Advice on how much redress I should expect
Sara (Debt Camel) says
You just had 1 loan?
My loan amount was £7000 from 2014 to present still £5000 left as a balance but so far I have paid £14665
wow. Can I guess you have moved the payment dates a few times?
On those figures and assuming you made all the payments, not your guarantor, you should get the balance wiped and a refund of £7665 plus some 8% interest, hard to guess how much but over a thousand I think.
Natalie says
No had a few loans
Loan 1 Mar 2014 £750.00 24 months £46.36
Loan 2 11 Sep 2014 £1,500.00 36 months £73.18
Loan 3 18 Feb 2015 £3,250.00 60 Months £128.46
Loan 4 13 Nov 2015 £4,000.00 60 Months £158.10
Loan 5 06 Jun 2016 £6,250.00 60 months £247.03
Loan 6 09 Aug 2017 £7,000.00 60 months £276
According to my account online my balance is still 5000
I have never missed a payment and my guarantor has never paid on my behalf.
Sara (Debt Camel) says
so those are the loan details, but the top-ups ended the previous loan early, so I also need to know:
for loans 1-6 have many monthly payments you actually made to Amigo. I
for loans 2-6, how much you received in cash when you made the top up.
Then I can calculate how much interest you have paid and what happens to the current loan.
Natalie says
1. 750 received 6 payments 46.36
2. 870.81 cash top up 5 payments 73.18
3 1856.91 cash top up 8 payments 128.48
4 801.58 cash top up 7 payments 158.10
5 2450.48 cash top up 14 payments 247.03
6 1316.92 cash top up 31 payments so far 276.67
Still paying 276.67 each month balance is still 5018
Sara (Debt Camel) says
I make the interest you have paid is about:
loan 1 156
loan 2 259
loan 3 973
loan 4 906
loan 5 2892
loan 6 1556
Thats adds up to £6742, so that should be your cash refund after the last loan has been cleared. Plus About £500 in 8% interest.
Natalie says
My balance is £5180 would that be taken out of the £6742? With the payments I’ve made and still making since I first took out the loan is over £14000. The total loan amount I borrowed was £7000 not including interest.
Sara (Debt Camel) says
No, you have already paid 31*276=£8556 to the last loan. That is more than the amount you borrowed, 7000. So that loan is wiped and you have paid £1556 in interest to it.
:)
Gemma says
So after 3 different people from amigo and having my adjudicator assured I’d have my redress calculations by last Friday! I called today to be told because I’m on the Fos queue there are no timeframes to when I will get my figures!!!! I called my adjudicator and she is now getting on to her area manager to find out exactly what’s going on. Utter utter useless 😞
Fellowman says
Hi Gemma. Is this because your complaint was upheld through the FOS. So they are saying these redresses have no time scale like others.
Sara (Debt Camel) says
no, lots of people are just being told really random things…
Gemma says
Yep sure is fellowman! I’ve emailed fca as I think it’s an utter disgrace. My adjudicator is appalled as they said to her that were recalculating my figures and states that I would receive by last Friday at the latest! But for them to say to me today because i was upheld and went through FOS I’m in a different queue that had no timeframes!!!!!! Madness
Sherrie says
Hi Sarah,
My complaint has finally been responded to and 3 out of 4 loans were upheld, if you look at the following figures would you be able to confirm potential redress figure?
1. The fist loan which was not up held was for £2200 (was deemed affordable at the time) I later topped up to £5,000 . Payments on this were all made by me £226.37, top up settled balance and I was paid out £3417.16 which became loan 2.
2. 2nd loan they have up held was the £5000 – I made 20 payments of £197.62 & my guarantor made x2 payments of £197.62 ( she has accepted repayment of payments she made on the 1/7/20
3. This loan was top up on loan 2- paid out n £671, balance settled on loan 2 this was also £5000. I made 61 payments of 197.62, guarantor made x2 payments of monthly instalment before loan settled by final top up.
4. Topped up to £8000 received £4,337.44 no payments made by guarantor current loan with a balance of £80064.
Hopefully these figures make sense.
Thanks in advance
Sherrie says
Sorry the current balance should be £8064 – I have been making payments on this of £316.20, up until April 20 where I dropped down to £50 – total of 18 payments made so far on this final loan
Sara (Debt Camel) says
can you say how many payments you made to the first loan?
the third loan – can I check you made 61 payments and your guarantor made 2?
when you get the numbers from amogo, look out for a line saying “Unpaid interest” and come back if you see that as it is wrong!
Sherrie says
I made 6 payments on the first loan, 3rd I made payments on this one apologies ( I went back over the statements)
3rd Loan is a correction as I went back over the statement x 18 payments of £197.62 by me and x2 of the same amount by gurantor.
There were periods during this loan where I made, varied payment amounts on arrangement or due pay changing to weekly from monthly.
I have not listed them all just totaled those payments for you £2,491.63 in arrangement payments. I will look out for that unpaid interest line for sure.
Thank you
Kimberley says
Has anyone had this from amigo, I took 2 loans out with them for 1st for £7000 then a top up to £9000. Just recieved my redress they’ve upheld the top up but not the 1st loan and they’ve said I owe unpaid interest from the 1st loan and as a result I’m due no money back and I still owe them £5000
Sara (Debt Camel) says
yes they are doing this to a few people – it isn’t right!
See https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-44/#comment-374306 for another example today.
Could you copy out the figures you have been sent?
Also can you give the details of your loans, so I can say how much you should get from their offer AND also what you get if the first loan was also refunded?
for loan 1, how many monthly payments you made eg 8 payments of £159?
For the top up loan, how much did you receive in cash? how many monthly payments you made eg 4 payments of £187?
Kimberley says
Hi Sara,
Loan 1 was not upheld taken out January 2017 £7000 made no payments
Loan 2 was upheld top up taken March 2017 £9000
Top up figure was £1793.67
Ive made 30 payments of £355.72 and then earlier this year I went into a payment plan just before covid hit and made 2 payments of £250
Their figures for me are,
Total interest £11866.67
Unpaid interest £7427.12
Total redress £4459.55
Current balance £9715.07
Balance less redress £5255.25
Sara (Debt Camel) says
if you made no payments to loan one you only paid £207 of interest on it – not really worth arguing about unless this has to get settled by FOS in which case you may as well try to get £207 back as well!
Loan 2 you borrowed 9000
You have paid £11,150 to this (30*355 plus 2*250). You should be getting a refund of £2,150.
The reason you are not is that “unpaid interest’ line. they are saying the first loan was never settled so they are charging you interest on it.
This is simply wrong.
I suggest you
1) complain to Amigo about this. Email nick.beal@amigoloans.net – that is the contact for Amigo on the FCA register – and say you want him to review your case as it is not right you should be charged for unpaid interest on a loan that was settled.
2) you email FOS the details and say you would like them added to your case and for this to be reviewed as a matter of priority as Amigo are trying to get away with a very wrong calculation. They already have some other complaints about this.
3) email the FCA too, so they find out what Amigo is doing. They will not investigate your case specifically but they have a supervision team currently looking at Amigo’s lending and they will be interested to hear of this.
If you want to do this, email consumer.queries@fca.org.uk and copy this to nick.beal@amigoloans.net and complaints@amigoloans.co.uk
—————————————————————-
Subject: Amigo (708284) is adding Unpaid Interest on a settled loan when it has settled my affordability complaint
Give your Amigo reference number, your name and address.
Summarise your borrowing from Amigo and there offer:
Loan 1 was not upheld taken out January 2017 £7000 made no payments
Loan 2 was upheld top up taken March 2017 £9000
Top up figure was £1793.67
Ive made 30 payments of £355.72 and then earlier this year I went into a payment plan just before covid hit and made 2 payments of £250
Their figures for me are:,
Total interest £11866.67
Unpaid interest £7427.12
Total redress £4459.55
Current balance £9715.07
Balance less redress £5255.25 how many loans, how large.
Point out you have paid £11,150 to a 9000 loan and you should be getting the balance written off and a refund of £2,150.
Say it is unreasonable they should add that charge for unpaid interest on the first loan that was settled with your top up so you owe nothing.
Say you think Amigo is trying to take advantage of the fact many of its borrowers are desperate to get away with paying them less redress than they should get.
—————————————————-
There is no need to write a lot. Just say what has happened.
You will probably just get a “thank you for the information, it has been passed on to the relevant team” reply from the FCA, you won’t be asked any more questions.
Terry says
Anyone had any luck with Trust two? Took out 7500 loan 2017. Already had a loan with Amigo. Trust two paid out anyway. Tried to get me to top up a while ago and I went through the process however they refused top up due to two CCJs that I had when I took the first loan out. They then proceeded to email, text and ring me constantly for a month to get me to apply for top up even though I had been declined. Also since covid they have put my account on payment holiday as Im self employed however they are constantly messaging me about missed payments and have put default on my credit file. Feel like Im constantly on the phone to them at the moment. Put a complaint in but week 9 now and nothing back yet. Due to payment holiday they have also wacked on no less than £500 intrest.
Sara (Debt Camel) says
have put default on my credit file.
they aren’t allowed to do that… ring them up and insist they remove it.
Also you can now get another 3 month payment holiday if your income is still affected by covid-19. Tell them that as well.
Have you sent the affordability complaint to FOS yet? If not, do it now.
Terry says
I thought that was the case regards the default shall get straight on it. really not what I need right now. Im worried about taking another 3 months and having another £500 wracked up in interest or more, but I may have to bite the bullet. Just finishing writing up my complaint to Ombudsman. I have one in regarding Amigo also.
Sara (Debt Camel) says
If you win your affordability complaint it doesn’t matter how much interest they add on, it will all be removed…
Anon says
Hi Terry they refused my complaint too instantly and they’ve been painful to deal with. My complaint is with FOS now, I have now asked for another 3 month payment break from them too. I too had an Amigo loan at the time as long as many other payday loans, maxed out credit card, terrible credit history and gambling on my accounts. They still gave me the loan with the same guarantor as I had with the Amigo one. Hope you have more luck with them than I do! I just really hope the FOS agrees with me.
Terry says
I hadnt thought about it like that with the interest.
They really are something else altogether. I though Amigo were bad until I dealt with this lot. They have currently offered me £25 on another complaint regarding how they dealt with my payment holiday in the first instance but as of yet I havent accepted, and it hasnt stopped them constantly ringing and emailing regarding my ‘defaults’ during the payment holiday.
Stace says
Hi,
I have a loan with TrustTwo and had a 3 months payment break, the first month of the break they took the payment anyway and sent me a letter to say I was in arrears. I spoke to them and they refunded the payment and told me the letter was sent in error.
I was also under the impression that there is no interest to be added on for the first payment break of 3 months it’s only if you take the extra 3 months that were announced recently.
I also put a claim in against them through a claims company, TrustTwo emailed me directly to refuse the loan. I’ve now sent this on to the claims company hoping they take it further.
V says
Has anyone received their redress payment today? If so how long have you waited? I was told 3 weeks only 2 to go (hopefully)
Ben says
I’ve waited 1 week but my account is still
Open not showing as settled yet
Annemarie says
Hi Ben I’m the same. Online account still not settled. When did you accept?
Tracy Smith says
I’m amgio loan online has gone from 4000 to 1986 tonight does this mean my garantor will get her refund soon
Ben says
I accept on on 29 June when did you accept . Just annoys me I’m keep logging in and still not settled when some people getting there’s after 2-3 days
Annemarie says
Not paid yet and I’m on 7 days. Its stressful checking my account and bank 50 times a day. Think I’m going to try and forget about it. Not helping my anxiety at all.
Carl says
You are only causing yourself more worry by constantly checking. You will get what is owed and then it will be over. You won!
I accepted my redress on 28/06/2020 and was told
It can take up to 15 working days for the account to show as settled, go into a credit balance and for the cash refund to go into my bank. I have also had another email from them confirming that today.
Ben says
Me to I’m all over just won’t want tot going on much longer as will need pay July payment won’t age or should I cancel direct debit .
V says
I cancelled mine. Received my email on 30/6 DD came out on 1/7 and I accepted this day too. I asked the person on the phone if I can now cancel my DD and the answer was yes. Also told to call back 3/7 for my DD refund. When I did, they were like oh this now puts the account in arrears and you’ll have to call back for Aug I said no it doesn’t I accepted my redress and was told to call back today. Then received an email stating my refund was now part of my redress so it would be refunded in the timescale originally given which was 3 weeks. Quite frustrating really. On Monday I received the standard email thanking me for my payment and next one due on 1st Aug. My guarantor knows about it too incase they try to go after them. Why they couldn’t just keep the DD refund and redress separate I’ll never know 🤷🏼♀️
Tracy Smith says
Ann Marie is your account settled uet
Annemarie says
Hi Tracey,
I’ve just checked its now settled and closed. Hope yours is too.
Carl says
I am currently on 8 days and mine has just been settled and closed in the last five minutes (I checked 10 minutes ago and it was open). I assume payment will follow in five working days.
It will happen, stay positive!
Diane Atkinson says
Mine the same I accepted on the 26th mine was a simple one no guarantor payments it was open 10 minutes ago now it’s shut and settled but does say apply for. Anew loan I think not I can finally delete the app it will happen I’m happy it’s closed now to wait the redness good luckeveryone
Sam says
Awww amazing Fingers cross its day 8 tomorrow for me appanrlty payment is made the day after the closed
Please keep is updated when you get money
Andy says
Hi I’ve finally got acknowledged from financial ombudsman that there going to look in to my claim with amigo .I’m just wondering what I do as it’s 17 weeks and no final response, do I just let ombudsman deal with it now or do I still push myself for final response.
Simon says
I had my final response at beginning of March and forwarded to FOS who are only now treating it as urgent. It is such a long process so stick with it and let them chase Amigo. You might get your final response and an offer before it has been looked at by Ombudsman. Good luck
Andrea says
Hi Andy,
Has your complaint been 17 weeks in total? Or with the ombudsman for 17?
Many thanks
A.n says
Hi all
I really hope everyone gets an answer and all of their complaints upheld very soon !
I have a query for those that have had redress.
Could you tell me if the online account is closed before payout or after. At least then I know which to check rather than both of them all the time waiting for payment to hit !!?
Thanks again
Diane Atkinson says
Yes it is and it shows the figure if your return mine has just done it just wait for money now
Annemarie says
Mine has just be settled but not received payment yet.
E says
Mine also changed last night, my account has been settled and closed for around 1 and half years but now sayings I’m – so hopefully that means I will revive my money soon!!! How long normally does it take people are being settled to receive in account? I also accepted on 26/6
A.n says
Ok be great if guys could say when you get funds so we know timelines
also how long after you phoned to accepted redress did your online account then become amended ?
Thanks
lynn says
my husband rang on friday to accept his offer and it went into negative balance and settled on tuesday, no payment as yet
Annemarie says
Hi A.n
I accepted last Wednesday 1st July and my account settled last night. No payment as yet. Will keep you updated.
Carla says
I settled my account 1 and a half years ago just says balance 0 will that say something else if my complaint is upheld
Diane Atkinson says
I git the email on 26th June at 5pm phoned straight away account cleared last night about 8.40pm and will let you know when I see funds in bank
K says
I accepted 29th June, account still not cleared! Must check my bank and account 50 times a day! Hopefully won’t be too much longer.
Ennio says
Hi just see an email from amigo saying they still looking into my complain but if I want I can make complain with FOA due 8weeks already past .
My loan has been paid off on march2019 10.900 pound .i started with them with a loans of 7500 and top op after 8 months around 800 make total 10.000 .i don’t know how much interest I paid. What I know I paid off the loan of 10.000 in one way and the payment was 10.900 so just this make me feel they will pay back a lot of money.
I will finger cross for me and all for u guys and hope they don’t go into administration otherwise we will have less then less
Lesley says
Hi Sara I’ve had a response today saying they agree my loans were unaffordable could you please help me work out what I could be offered.
Loan 1 £1,375.00 24 months @£85.00
top up loan of £2,500 60 months @£98.00 cash paid out £1489.98
top up again of £3,750 69 months @£148.20 paid out £1.261
I still owe them £1.500
thanks so pleased to win this company worse thing I ever did thanks
Sara (Debt Camel) says
can you say how many payments you actually made to loans 1,2 and 3?
Lesley says
From the 1st august 2104 I’ve not missed a payment and paid till today’s date so really sure how to work this out I still owe 1.500 thanks Lesley
Lk says
In an email it said “you will receive your redress figures 01/07/2020 no later than five working days after”. Today is their last day to send me my redress figures. Has anyone’s gone over the date they initially say?
K! says
Yes I have. I was told 10 working days. I am now at 20 working days.
NAG says
Submitted my complaint direct to Amigo on 20 Feb. I Received redress figures in an email today (8 July) and I called immediately to accept – this is after I received confirmation that Amigo were upholding my complaint on 9 June. Nothing like the timescales originally quoted. Will update again when I receive payment in my bank account to give an idea to everyone waiting.
20 Feb – Complaint submitted.
14 Apr – Amigo emailed to say they wouldn’t meet 8 week deadline.
16 Apr – I submitted to FOS.
9 Jun – Final response from Amigo upholding complaint. I cancelled complaint with FOS.
9 Jun – Guarantor accepts offer of redress. He is told her receive payment by 23 Jun (still nothing as at 8 Jul).
8 Jul – Figures emailed to me, I accepted.
The wait continues!
Carla says
Dear Carla,
Thank you for your email. If we are unable to get your Final Response to you tomorrow when its due we shall send you an official update. We always endeavour to get your Final Response investigated ASAP, however some complaints are more complex and may take longer than expected to issue a response.
Kind regards,
Customer Relations Team
I emailed a week ago for update and got this today
Daniel says
spoken with amigo this morning, they advised because I’ve referred to FOS my complaints with a different team and has different time scales to normal claims. Not sure if this means will be quicker/slower or no different. So frustrating as anyone you speak to has no clue whatsoever with what method to look through complaints are. Now at Week 21.
Really thought was getting somewhere and appears the FCA giving until the end of October has really relaxed their attitudes.
Lk says
Have you not had a response yet?
Tracy Smith says
Anyone got a refund today after account closed last nite
Daniel says
Nothing yet :(
Ann says
Hi Sara I’m ann I have just had my amigo Loans complaint refused I put it in on 29th jan and only got generic messages from them I was late putting into ombudsman did this in May just had comfermation from them I didn’t send bank statements to amigo but have just posted them to ombudsman to you think this might be why I was refused claim thank you
Sara (Debt Camel) says
I don’t know. Can you say something about your borrowing?
Ann says
Hi Sarah I had 3loans in 2017 2500 payed 3months than 4000 payed 4 payments then a 5000 and paid off previous loan and still paying off I have 22 payments left I had 2ccjs and a credit card debt large vet bill to pay I was over drawn with bank and struggling to get through the month this now has got worse so I have a £500 a month cut in pay since covid I have asked for another month but they are going to put interest on I was hoping to get out of this mess just seems to get worse fingers crossed 🤞 for ombudsman
Tracy Smith says
So angry my garantor was sent figures of 2500 she excepted now there saying it was 1500 there are really getting to me now she required it 3 times and was told it was the higher amount not the lower one I have not received no interest on my loan and it looks like she hasn’t what are they playing at
Sara (Debt Camel) says
EVERYONE getting a refund from Amigo..
When you get your refund numbers from Amigo, check if they are deducting money for “interest on unpaid loans “.
This is most likely if you had several loans and some of the early loans are not being refunded.
It isn’t right!
Stevan says
No funds in bank. On working day 18 now. Was told within 15 days.
No GT involvement.
Call handlers make stuff up. Told they will look into it, speak to the other departments involved, call me back, promised it will go in later on that day and to wait. There really is no actual
It seem the are updating accounts as priority then drip feeding the payments of redress after.
Anyone been paid today?
Diane Atkinson says
Has your account been closed yet
Stevan says
Account was closed 2 year ago.
Ive just rang them and fobbed off again. She said she will ring me back when she finds out what happening and spoken to the transactions team.
Carla says
That’s all they ever do and Everyone who works there tells u something doffrent
Stevan says
They are not being honest with the payment timescales and their staff deliberately lying to people.
Stacey says
Hi Sara
Was hoping you could help I am waiting to hear back from amigo but was hoping you could look at my figures and give me a rough guest as to what to expect
Loan 1 03/07/17
£3000 1x payment made £146.37
Loan 2 07/09/17 (top up loan)
£9000 borrowed payed out £5922.65
12x £355.72 payed.
Loan 3 01/08/18 (top up loan)
£10000 borrowed payed out £1269.80
21x £395.25 outstanding balance remaining on this loan as of may £10375.16
Any help appreciated
Stacey
Sara (Debt Camel) says
I make the interest you have paid as roughly:
loan 1 224
loan 2 3991
loan 3still not paid the 10k you borrowed – £1705 still to go.
If all three loans are upheld, the refunds from the first two will clear the balance on the last loan and leave yoy a cash refund of £2510, plus a bit of 8% interest, not much.
Stacey says
Thanks Sarah, can I ask how you worked out my first 2 loans if refunded would pay off my outstanding loan as it says I still have over 10k left to pay. If I win my claim once all the interest is taken off and the 21 payments I have made towards the loan is that what makes the £1705 outstanding, sorry it’s so confusing. What would my likely outcomes be if they said loan 1 was affordable
Cheers
Stacey
Sara (Debt Camel) says
The balance on the last loan doesn’t matter if it is being refunded. Instead you take what you borrowed – 10k – and take off what you paid – 21*395=8295. That gives the remaining balance without any interest of 1705.
the interest you paid on the first two loans more than repays this and leaves an extra 2510 to go to you as a cash refund.
Sara (Debt Camel) says
If loan 1 is decided to be afforda ble then what SHOULD happen is you will get £224 less in cash, so a refund of £2286.
I say SHOULD because at the moment Amigo are telling some people when the first loan or two are”affordable” that they then owe more in “unpaid interest”. This is WRONG and i am hoping it will be all sorted out and stop happening soon.
Shelby says
do you think there’s any truth in this before I hold my hopes up.
Apologies for not replying sooner.
I can see you have spoken with one of my colleagues yesterday and they advised that we would get in touch with you soon as the Final Response has been completed.
Unfortunately I am unable to give you any updates until this has been issued. I can appreciate this is frustrating and I apologise.
We are working as quickly as we can to get your response issued to you.
We anticipate, based on our current volumes, to be able to respond to your complaint in the next four weeks. However, we will endeavour to respond sooner.
We are allowed 8 weeks to investigate and issue the Final Response. As the 8 week time frame has now passed since making your complaint, you may refer your complaint to the Ombudsman Service.
We will still continue with our investigation as promised.
Diane Atkinson says
I got that and then got my response 3 week later
Shelby says
Oh fab I’m hoping they will do it xx
Lorraine says
STiLL nothing from Amigo.
So I also put an affordability complaint with MyJar but they’ve not upheld and consider they did the relevant checks and it was affordable. I cringe at the thought of escalating to FOS just due to the wait time but I think I will.
E says
MYJAR also did not upheld mine even tho was clearly not affordable! 4 other loan company’s i was with at the same time as myjar was upheld they was only ones to say no! Passed onto FOS and was picked up within 2 months but they said no so passed to ombudsman who only took 1 month hut they also said no! I’m gutted. Good luck!!
Lorraine Evans says
Thanks :) Isn’t that odd that four other companies contradicted MyJar’s outcome for you, I’m sorry to hear that.
I think I’ll crack on with putting it through FOS
Shelly says
Mine got upheld by fos on 18th june amigo said 10 working days for figures still waiting sent email to fos asking was this right they said amigo have to tomorrow to have it finalized im going crazy been going o since jan
Fellowman says
I’ve been waiting for figures since 3rd of June. I initially complained october 2019. I am now being given zero information from either FOS or Amigo. Looks like its a complaint closed on the books / to skew data. But not actually putting things right by keeping the payout. Something isn’t right!!
Alan palmer says
Hi have just checked my amigo loan and it is now showing as settled but no redress paid into account is this normal
Annemarie says
Yes, settled first then they normally pay you within a couple days i think. Mine was settled last night but no payment as yet.
K! says
I am in the same boat. I was told 10 working days for calculating the redress. Now been 20 working days. I am getting so frustrated. I know we are not the only ones. I wish they had some sort of order in doing them. It seems that some people get there’s quickly and others don’t. There should be some logic to there sorting of things. Keep positive. I am sure it’ll be ok in the end
Nath says
So I was told 5 working days Thursday last week I will receive me redress figures today by end of play. Called earlier to find out where it was an now I’m being told I have to wait till Friday.
Getting so annoyed with it all at the moment stressed out to the max
Tracy Smith says
Hi Sara if you reject there effect if they gave u a wrong figure and you excepted now there saying it’s lower and was a mistake will take alot longer to get the money it for my garantor
Sara (Debt Camel) says
Are you saying your redress is wrong? or the guarantors? or both? Can you explain what is happening as that is a bit vague.
Tracy Smith says
My garantors I’ve got no interest on my redress of the 8 percent they quoted her 2700 now there saying it’s 1580
Sara (Debt Camel) says
do you know how much your guarantor paid to Amigo? How old were these payments?
If you end up owing money to Amigo when your guarantor’s payments have been removed from the loan account as they have been refunded, it is common for you to not get any 8% interest.