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
Chris says
Hi sarah
I had one loan of £7000 to which thankfully i have one more payment of £342 left to clear. Below is their summary any advice please.
We also confirmed your existing credit commitments, and we checked to ensure that the sum of monthly repayments set aside towards clearing this were manageable and accounted for when budgeting for this loan. We of course also considered your credit record. Whilst you clearly had had some challenges in the past, I note the following:
You had not taken out new credit cards, home credit, unsecured loans or high-cost short-term credit in the 3 months prior to taking out the loan
You did not have any missed payments, or new defaults, in the 6 months prior to taking out the loan
You did not have any defaults on priority bills
You did not have any active CCJs in the 12 months prior to taking out the loan
In common with many of our customers, your credit record might be described as impaired, but I do not see that it was such that you should have been excluded from taking up this agreement.
Finally your guarantor did not need to step in within the first six months, and in fact you have made every payment to-date on time. While this does not serve as proof of affordability, evidence of a generally positive payment record appears to me to be a relevant indicator that the loan was in practice affordable.
Sara (Debt Camel) says
So they rejected your complaint?
What do you think about it, ignore what they said, make your own mind up based on what happened to you. You know if the loan repayments caused you problems from early on? Did you have to keep borrowing more or get behind with bills?
Chris says
Hi Sarah yes lived on credit cards and in between then was made redundant and to be honest thats what kept me being able to make the payments as u couls not possible let it fall to my daughter (guarantor). On my income at time of loan u was shocked thay agreed. But was in a very bad predicament at time.
Sara (Debt Camel) says
Then send your complaint to the ombudsman. The article above these comments explains how. 90% of cases are being won at the Ombudsman!
Chris says
Thanks Sarah is there any more information i can send to FOS to backup my claim i did send bank statements to Amigo.
Sara (Debt Camel) says
Send the bank statements on to FOS too, And a copy of your TransUnion Statutory Credit report (not Credit Karma), see https://www.transunionstatreport.co.uk/
John says
Hi wondering if anyone can shed light on a matter
Upon checking my amigo account it says my loan is closed and settled as it has been from 2018
Above my last payment on my statement
It has 3 credits one showing refund.
One showing bank payment and one showing the interest and redress these only showed on account on 7/7 but as of yet no redress into my account
Any help appreciated!
Diane Atkinson says
Mine did the same last night around same time still no funds I. Account
John says
Any idea was to what this means?
My account shows closed and settled but shows -7000 odd at the top of account statement
Diane Atkinson says
Your redress I think – mine says 4000 and that’s what I was due
L1991 says
Mines the exact same. Closed account and yesterday three different figures appeared and value of redress showing as balance in credit. No funds received yet tho. It looks like they mostly pay out Fridays though could be sooner.
charlotte says
Hi
I’m coming up to 8 weeks of putting in my complaint with amigo loans. If I don’t hear from them which I doubting I will! Do I contact them or just send it straight to the ombudsman.
Also I requested my SAR from them and I’ve not recieved this either.
Hope your all finally get some results as by reading on here I see you’ve all been waiting so long 🤞
Thank you
Sara (Debt Camel) says
Your complaint should be in the backlog that Amigo will be trying to resolve. At 8 weeks most people get an email saying they don’t have a response yet.
Some people are getting replies by 10 or 12 weeks, others aren’t. Some people are having complaints upheld in full, others only have some loans upheld, a few get total rejections.
It#s up to you if you want to send it to FOS at 8 weeks, but there isn’t any point in talking to amigo about this – they won’t look at your complaint faster if you say this.
Jacquie says
The issue that I have experienced was: I took out a loan with amigo in September 2010 for £3000. The monthly repayments that thay were charging me was such a large proportion of my income that I was forced to borrow again. During this period I was borrowing from 4 x payday loan companies and also took out a log book loan against my car
It occurred on: 1/09/2010
I was £64,000 in debt. Looking at my income and expenses, it’s clear that there is no way I could afford to make the repayments on the loan. I had to take out other loans and credit cards to ensure that I could make the payments. I have copies of my bank statements showing my repayments. However amigo loans advised they destroyed all records over 6 years old. The financial ombudsman has asked for copy of loan agreement which I don’t have. Is there anyway I can provide the proof of this loan which I know was clearly unaffordable.
Garylee says
Get a copy of your credit report, it will be on there and request historic statements from your bank.
Lee Grint says
Has anyone else been told by Amigo that they will only pay 8% interest on overpayments and not the total amount of interest paid? They have told me there is no legal obligation for them to pay me the 8% on the total figure…
Sara (Debt Camel) says
Amigo have an odd way of calculating the 8%. You can take your case to FOS if you want – most people just give up, pleased to have nothing to do with Amigo ever again.
Connor says
Hi, I left a comment on this page back in January and took a chance to see if the affordability claim would work for my amigo loan I had back in 2014 (paid off in full 2018) – I used the template from this site and sent to amigo and copied in FOS after 8 as a follow email – I guess due to the current state of thing they have few staff so couldn’t reply quickly but Amigo contacted me last Monday and confirmed they’ve upheld my complaint.
The following Friday, I got 11.6k put into my bank and all negative records removed from my credit file – honestly can’t thank this site enough and the owner of it! I hope you continue to help people :) and if anyone reading this wishes to start a claim and is stuck I’m more than happy to assist you with the emails I sent… or if you’re in two minds… you should DEFINITELY do it, I took a chance as it’s risk free and now I’m debt free, with a new car and still a couple grand left over.
Huge huge thanks – take care
Sara (Debt Camel) says
Sounds like a good result! Can I check they upheld all your loans?
Connor says
Yeah really happy and honestly couldn’t of done it without you!
I originally had 1 loan of £2.5k (2014), after 1 year I topped up to £3.5k, then a year later topped up to £5k and a year later topped up to £7.5k.
So 4 loans and I was paying around £330pm for about 3 years…
They upheld every loan I had, even the initial/original one… I didn’t even send them bank statements, just answered a couple questions and added extra detail to your template :)))
Sara (Debt Camel) says
ok, are you happy their calculations are correct because originally you said you had paid 16k in interest?
Connor says
I think it would’ve been more but in dec 2017 I paid the remaining 6k off (using a bank loan as I was sick of the interest from amigo)
So I’m pretty sure that 6k I paid off didn’t did have interest on in, I’m happy to be honest, 11k has literally helped my family and our 18 month old daughter, we booked a family holiday for next year with it too – genuinely happy with it
Terry says
So I had a final response from trust two today. They have decided that the loan was affordable but want to award me the grand sum of £50 for the lack of compassion shown when we spoke to them after my wife lost our baby and we asked for a payment holiday that they refused us. The fact that they harassed me to top up my loan everyday for a month despite them having done checks and refused it due to two CCJS that I had when I had applied for the original loan, and ignoring the fact that I already had a Amigo loan when I applied for the original loan from them. Thye are unbelievable and I have sent my complaint to the ombudsman. Wish me luck.
Lillian says
Hello Sara
A wee update on my sons complaint. His 12 week period is up tomorrow and he got an email from Amigo today saying that they are still looking into the complaint. It is some comfort to me that they have a least sent that email.
Thank you for all your help
Lillian
Sara (Debt Camel) says
Well I suppose it means they haven’t accidentally deleted it… but these are automated messages and don’t mean anyone has even looked at that complaint.
If you haven’t already, you should think about sending this to FOS now. Not everyone is getting a good result from Amigo’s decision.
Charlotte says
Hi has anyone had a situation where their redress doesn’t seem correct. I asked for the info on how it was calculated and amigo said they have sent it to me via email but they 100 percent haven’t. My guarantor has received no communication from them whatsoever and she made at least one payment. My refund seems about 2200 short. Amigo say they can’t do anything else: I’m so annoyed at how this has been handled. I think they’ve taken my full refund off the opening balance even though I made 7 payments of 479 on that loan. Can anyone advise?
Sara (Debt Camel) says
ask them to send you the email again with the details.
Did Amigo uphold all your loans?
Carly says
Hi I complained to Amigo loans for an affordability claim and I have received an email with an offer for a refund of £750 for my top up loan they upheld my complaint for the top up but not for the first loan. I accepted it straight away by telephone as I was happy to be getting a refund but I’ve now noticed that when they have given me the breakdown of the redress they have charged me unpaid interest for the first loan? I don’t think is right that they should charge me unpaid interest on a loan that was settled with the top up? I’ve gone back to them to query this but not received any response. Do you think I can get more?
Sara (Debt Camel) says
They should not have deducted that amount.
When did you query it with them?
The email you had probably never referred to it, the number was in there, unexplained so I am not surprised you missed it. How large was it?
Carly says
Hi they sent me the email with offer of redress on Tuesday I rang them to accept straight away. They told me I would receive within 15 working days.
On the figures on the email it gives the breakdown of redress as follows total interest £1649 8% simple interest of £43.26 20% basic rate tax of £10.82 £0 fees and charges and then unpaid interest from non upheld loan £947.07 giving a total redress of £750.19
Do you think I should get back the £947.07 then? As the non upheld loan was settled by way of top up so I shouldn’t owe this?
I emailed them about it Tuesday evening but not had a reply
Sara (Debt Camel) says
Do you think I should get back the £947.07 then? As the non upheld loan was settled by way of top up so I shouldn’t owe this?
Yes & yes.
I suggest you go back to them on Monday if you haven’t had a reply by then, saying you will be going to the Ombudsman if they do not refund you this money.
A says
Redress figures still not received. Guarantor accepted over 3 weeks ago. I’m surprised the FCA haven’t told them off for it tbh because they give deadlines then go against them. It’s almost as if they’re upholding/refusing complaints then leaving them in limbo just so it looks like they’re dealing with them.
Fellowman says
Completely agree. It’s been 5 weeks waiting for figures. Technically my case is closed at FOS and upheld with Amigo. So considered dealt with by both. But nothing has been put right after admission of being at fault. I don’t trust the situation.
PM says
That’s concerning. My guarantor only accepted on Monday and I’ve been told 3 weeks for my figures (apparently they do nothing for 2 weeks after your guarantor accepts because “the system won’t allow it” – absolute nonsense!). Was hoping it might be a bit quicker than that as my loans are settled and have been for a few years, but these updates don’t sound promising. I’ll be on the phone every day once the 3 weeks passes.
A says
Agreed! It is nonsense. It’s an excuse. I was initially told the entire process takes about 2 weeks. Why are they starting on new complaints when the old ones haven’t been paid? My loans are settled too, it’s just pure frustration of no time scales. Also the fact how aggressive they get if you owed them money or were late on a repayment. They’ve appointed their old chief executive they had over a year ago within the last day or two.
Chris says
Hi Sara,
I had an affordability claim rejected by Amigo just over a month ago, so i sent it to FOS the same day. How long should I expect to wait to gear from FOS? Just because my 3 month payment freeze due to being furloughed has ended and they said regardless of me making a payment, that they are going to start adding interest from August 3rd, which is obviously very worrying for me.
I have made 6 payments of £426 but only £600 has been deducted from my balance as well. This works out at loads more than the interest rate that I had worked out.
Any advice greatly appreciated.
i am still furloughed. I work in events and no sign of them starting again yet.
Chris.
Sara (Debt Camel) says
You can now ask Amigo for another 3 months payment break. They are allowed to carry on adding interest during a payment break bug Most importantly they cannot go after your guarantor to pay.
If you win your affordability complaint, it doesn’t matter how much interest has been added, it will all be removed.
I suggest you ask FOS if Amigo have sent over their case file yet.
What was your guarantor’s financial position at the start of your current Amigo loan?
Chris says
Ok thats great to hear. I’ll request another 3 months today.
I’ll call FOS as well today to check. Hope they have received something.
My guarantor was working full time.
Sara (Debt Camel) says
could your guarantor have afforded to make all the payments to your loan and also pay all their own debts, bills and expenses?
Chris says
No definitely not. She went on maternity leave about a month after I got my last top up in October.
Craig says
Hi Sara
I have spoken to Amigo today regarding interest on non-upheld loan and they say this is the amount that would be payable had i not entered into the upheld loans. I told them that this is wrong and they advised me to accept my redress and ask the ombudsman to investigate the interest they have taken off me.
Sara (Debt Camel) says
That is probably a practical way forward.
A) when you go to FOS, start off by saying Amigo advised you to accept the offer and also complain to FOS. We don’t want Amigo saying you accepted the offer, that’s it…
B) in addition to going to FOS, I think people affected by the interest on non-upheld loans issues should also inform the FCA. It should not be necessary for everyone to fight these cases through FOS one by one. And some people may not have spotted the problem! The FCA should tell Amigo this is not fair and they need to go back and automatically refund the extra money to the people who have accepted an offer with this deduction in it.
here is how to inform the FCA: 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 their offer – how much they are deducting. Say this appears to be because Amigo did not uphold the previous loan, so they are saying it wasn’t settled so they are adding interest on this.
But this loan was settled – they took the money from the top up loan for this. 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 settle and that some may not even have noticed this deduction, as it is one line in a very long letter and not explained at all.
Say Amigo told you to accept their offer and complain to FOS, which is what you will do. But that this is not a fair way to resolve this. Amigo have done something fundamentally unfair and they should have to contact everyone affected and automatically refund them this money, not make them all complain to FOS. Many of the customers are vulnerable and they should not have to do this
—————————————————-
There is no need to write a lot. Just say what has happened in your own words.
Carla says
I’m on week 8 today but haven’t heard anything even that they need more time
Charlotte says
I’m at 8 weeks and heard nothing. Do I just send straight to the Ombudsman?
Paul says
I agree with Fellowman. Although Amigo told FOS that they wanted to make an offer to me (which i accepted), nothing has been progressed since then. It has been several weeks now and Amigo cannot explain to me why this has not been settled, or what process is being followed. I really do suspect that they are inflating complaint settlement figures in their reporting to FCA by including those that they have agreed to settle rather than those they have actually settled. I have asked my adjudicator at FOS to intervene as it has been more than 4 weeks since i accepted the offer.
Gemma says
I complained to the fca about this they replied to me to today! Although they can’t intervene they have logged my complaint and have people that review this to look in to what amigo is doing! They also said that I should keep fos updated on everything as they should intervene and push them to get things settled!
K! says
I am in the same boat. 5 weeks Wednesday they asked for the calculations to be done. Still nothing heard from them. When I last called the gentleman said that they are 2-3 days behind. Funny thing was it was already 11 days over the 10 days they said. This is ridiculous. Don’t know what to do now. Call/email them and they say the same, even contacted FOS and they can’t update anything more than them at Amigo. All this waiting is so frustrating
Stace says
Hi,
I have spoken with Amigo today to accept my redress figures and understand why my guarantor hasn’t received the payment yet after excepting 15days ago.
The lady I spoke to advised this is because they won’t process the guarantors payment until the borrower had accepted their redress then both should receive the payment within 15 working days.
Hope this helps.
Amber says
Can I ask do you have a different number to call them on? Also when did you put your claim in?
Jase says
Direct complaints number is 01202 835170. There is honestly no point calling them, they give a different answer to everyone and in my opinion its just a waste of time no progress is ever made just hold out and wait for the emails.
Jo says
I have spoken to a few people on this number and they have all been great… whilst I have been waiting a long time since 3rd June since being told by FOS investigator they upheld all my loans, I have waited so long for calculations and they have done everything they can to try and help me when I explained my circumstances etc.. mine are very extenuating circumstances though which I don’t want to put on a public website… but I think we all have to remember it’s not the people’s fault that work there…they are doing their job and have lots of complaints… they’re not robots… I really hope everyone gets their responses soon…. mine had gone way over the time lines and without going into too much detail… I needed them for a court case well over a week ago!
sean says
WH2680846 – Ref
19/06/2009 date created
£3,300 36mths
Interest to date:£2,208.71
Total paid to date:£5,508.71
Monthly installment £151.19
10554149
08/01/2013 date created
£5,000 24mths
Interest to date:£1,478.68
Total paid to date:£6,478.68
INstallment of £309.08
13311622 top up received £1303.19
07/11/2013 date created
£5,000 24mths
Interest to date:£2,637.93
Total paid to date:£7,637.93
Installment £309.08
28458838
11/02/2016 date created
£5,000 24mths
Interest to date:£1,444.07
Total paid to date:£6,444.07
install £309.08
current loan
43822728 10/10/2018 date created £10,000 48mths
Interest to date:£6,033.15
Total paid to date:£6,416.25
install £427.7
outstanding £9606.18
hi all, yes you read right 5 loans!!!! even going back to when they was called FLM loans. sara could you work out what i may be entitlement to.
i have a friend who work for amigo and he says that most complaints are going to be paid out just some might take abit longer so hang in there guys!!!
Sara (Debt Camel) says
Then you have already worked out the interest on the fiirst 4 loans. On the last loan if it is upheld the interest will be removed so you only have to repay what you borrowed, you have paid 6416 so far so you are £584 short of that, But the interest on the other loans will offset this and you should get £4183 back if they are all upheld.
Sean says
And is that with the outstanding balance wiped off aswell?
Sara (Debt Camel) says
Yes :)
But it does depend on all the previous loans being upheld. it may not be the easiest case as you weren’t taking top ups and were going for quite short debt repaymenst periods. But good luck!
Sean says
Oh ok, that doesn’t give me much hope lol, I have been on debt management plan for over a year now, but have left the amigo loan of it as dodnt want to get my guarantor involved. So hope that helps as have default on all my other finances
Sara (Debt Camel) says
I’m not saying you can’t win. If your debts have been getting steadily worse over the period you have been borrowing that is a sign the loans may have been unaffordable for you!.
But in your situation really it’s a win if just the last one is upheld as your guarantor is released and you can pout any balance into your DMP.
Sean says
Well my fingers are crossed but like you say even if it’s that my guarantor is released it will help worst case scenario
Gemma says
I’m sooo mad I emailed amigo to answer some of my questions is to why it’s taking so long to get calculations and received a reply to say that because my complaint was Reviewed because they had previously not upheld it!!! I’ve demanded answers as I never once got an email to state it hadn’t been upheld and the numerous amount of phone calls I had with people telling me I would get my final response until they directly upheld it through fos! Wtf is going on with this company!!! Sorry to rant
Sara (Debt Camel) says
Rant away…. well deserved :(
Annemarie says
Check your accounts. Ive been paid into bank. So happy. Good Luck everyone
Tracy Smith says
I’m still waiting been waiting since 29th
K says
Me too! Account still showing as open, I check a million times a day! Seems everyone who accepted the day after us is getting paid!
Tracy Smith says
My garantor been treated so bad by amgio loans waiting since 9th June I had my account updated she had no refund how are they allowed to get away with lying to people over and over again anyone had refund today
Diane Atkinson says
Me too thank the Lord enjoy spending everyone Greece here I come keep safe all that stress it’s finally over nice to have chatted to you all hope you all get your claims resolved soon xx
A.n says
Well done guys really happy for you
How long was it after accepting your redress for your account to be closed and then how long from acc closed to money in bank?
Enjoy GReece :)
Annemarie says
A week for me from accepting. No guarantor involved.
Tracy Smith says
Wow just spoke to my adviser from money advice amgio have now said my garantor won’t get payed till next friday it’s been 14 days Sunday she been waiting since 9th June that’s it I’m getting on to management
Diane Atkinson says
I accepted in 26th June
My account was closed on Tuesday night this week and money went in last night which was Thursday night around 18.30 hope this helps I had no guarantor involved and my figures were sent with my final response on the 26th June I accepted same day
L1991 says
Funds received today. I accepted last Tuesday (30th) PM.
Thanks again Sara, now the wait for TFS.
Sue says
That’s great news.
I accepted on the 29th but no payment yet.
frogman says
Hi Sara,
Thanks very much for all the support. The email has finally come through today from Amigo today and they are upholding all 3 loans (Timeline = Guarantor complained on 28th Jan 2020, I complained 11th of May 2020)
Loan 1 – £4000 over 24 months @ £247.26/m. Made 6 payments totaling £1483.56
Loan 2 (Top up) – £4500 over 60 months @ £117.86/m. Received £1146.94 in bank. Made 11 payments totaling £1296.46
Loan 3 (Top up) – £8000 over 60 months @ £316.20/m. Received £4730.67 in the bank. Made a total payment of £9802.2 to date
All Loan 1 and 2 payments came from me. Guarantor made a payment of £2196.94 towards loan 3 and Amigo have emailed her confirming she will be refunded £2404 (£2196.94 + interest £258.82 – tax £51.76)
I believe we’ll be better off accepting the guarantor refund and see what the balance of the loan would be. Please are you able to estimate the loan balance with the above figures please? Also, what is also this unpaid interest and will it affect me?. Once again, thanks very much Sara and good luck to everyone here waiting for either final response or refund.
Sara (Debt Camel) says
The “unpaid interest” only affects people were the first loan(s) were not upheld.
Made a total payment of £9802.2 to date
That is the payments you made? or does that include what your guarantor paid?
frogman says
The £9802.2 includes what guarantor paid. So I paid £7605.26 of that.
Thanks
frogman says
Loan 2 is £177.86 sorry. So total paid on that is £1956.46. Sorry
I worked out the loan would be in excess afterwards and a refund of £1161 + interest will be due to me. Does this sound right? Happy days
Sara (Debt Camel) says
That sounds right – I worked it out as roughly £1168 – ignoring the pennies. There will be very little 8% interest.
Frogman says
Thanks a lot Sara. Much appreciated.
Craig says
Funds have gone in my account today but I have lodged a complaint with fos about interest on my non upheld loan as Amigo told me to i accepted my redress on 30th June.
V says
Woo hoo payment has went in today 😁 I didn’t have my first loan upheld and been charged for ‘unpaid’ interest’ May take this up later but for now it’s finally over and I am over the moon. Good luck everyone hang in there. Accepted on 1st July and received payment today. I’m buzzing. Thank you Sara for everything.
Sara (Debt Camel) says
How much were you charged for the “unpaid interest”?
You just need to send FOS a complaint saying this should be refunded!
V says
Around £2k. Now looking back in hindsight maybe I should have challenged it but I just wanted rid! I did ask why there was a fees charge and was told unpaid interest. Never even gave it a second thought the second top up should have paid it off. How do I go about it now I have the redress payment? Do I send an email to FOS – does it matter I had accepted the redress as it stood? Do I have to complain again to Amigo? I was so scared in case they went under (probably highly unlikely) that I would not receive my payment and the last 6 months of limbo and 6 years of Amigo hell would all have been for nothing 😳
Sara (Debt Camel) says
Yes send a complaint to FOS. You didn’t know what this amount was, Amigo told you it was right but now you don’t think it is.
V says
Hi Sara
Will it matter I have accepted the redress? Am I just complaining about the fees/interest charges not the fact the loan wasn’t upheld?
Sara (Debt Camel) says
you can also say you thought the first loan was unaffordable, but make it clear your main complaint is about this 2k deduction which wasn’t properly explained to you.
Tracy Smith says
No refunds from amgio there a joke
V says
Ok thanks Sara. Is there a template? I’m not too fussed about the first loan not being upheld bit miffed about the fees that was deducted. Now I have the money I can breathe a sigh of relief and now have the mentality to fight for the rest.
C says
Hi Sara
I have had a successful complaint against Amigo and was refunded all interest on all my loans. Both me and my husband have had 10 years struggling with debt, both on dmps, continuous payday loans etc. He has had 7 loans/top ups with Amigo and I had 6. None of the loans were affordable for either of us and I wouldn’t hesitate to get him to submit an affordability complaint. However, proving the unaffordability is complicated as all the household bills come out of my bank account. He has the odd couple of bills coming out of his account and the remainder of his wages were given to me each month to go towards the bills. Because we had more expenditure than income we have continuously borrowed from every available source over the last 10 years and therefore been in the vicious circle of debt. Do you think he could submit an affordability complaint based on what I’ve told you? Would he provide my bank statements as well as his own to prove the loans were unaffordable? Thanks
Sara (Debt Camel) says
yes that sounds like a good complaint. Providing both sets of bank statements will help.
If Amigo reject FOS is usually pretty good at sorting out complicated sets of bank statements.
Anon says
Just been paid by Amigo, redress accepted on 30/06 – hope you all see your refunds very soon
Andrea says
Hi, please tell me there are still others out there waiting for an email with a decision. 2 weeks ago tomorrow was the 26th the original date they “ should “ of cleared the back long by date.
Week 18 on sat for me. This is the longest wait ever…..
michael says
I phoned today to get an update as I havnt received my email either and was told there just doing my calculations and I should have a reply soon. So if there doing calculations for my complaint surly that means there upholding at least some of my loans
Claire says
They have said the exact same to me too, I haven’t had a final decision and they told me yesterday they are doing my calculations going through to see if my guarantors has made any payments and then calculating mine although my guarantor didn’t make any payments which I said that to the advisor on the phone and he said once we have done your calculations we will send you a email with a offer, which was confusing as I don’t know how to take that As I haven’t had my final decision so does that mean my complaint has been upheld who knows :) fingers crossed.
Andrea says
I would hope so, I called for the first time last week and was told they know nothing about the cases and can’t see any details until the email has been sent out 🙈
So many different stories
michael says
I made a point to call every 3 days for updates and the call I made today was the only one that sounded like ill be getting an answer soon. I have worked out that across all my loans I am due back over £5000 in interest so anything close to that and ill be happy
Andrea says
Let’s hope we hear soon!! I’ve worked mine to be around the 19k mark!!
Ten long long long years ……
PM says
They have agreed an extension until 20th October, however I assume that will include all the complaints that have since been raised that weren’t part of the initial backlog. I got my response last week which was also week 18, but now into the 3 week wait time for figures. Hopefully you aren’t too far off getting a response
David says
I have finally had my final reaponse they say they refunding me for both loans on any payments i have made after balance and 8% interest felm both loans how do they contact garantor is it email or do they call the garantor to accept the 1 payment he made i payed a total of 11560 or very close to that amount says rainaining balance to oay on my account is 3220 i topped up from 4k to 8 k the 4 k i made 1 payment of 231 n topped up to 8k and payed 27 payments of 391 n 1 payment of 70 and been on payment break till september even though now had my final reaponse woohoo jist got to wait for redress and garantor to accept
Lesley says
They contact them by email well that’s what they did with mine good luck
Carly Chadwick says
Hi I accepted redress but after coming in here I sent a further email telling them I do not understand why I was being charged for unpaid interest on the first loan that was not upheld. This is the response
I do apologise for any confusion regarding the unpaid interest, and I hope this email helps you understand it a bit better.
As the first loan was not upheld for irresponsible lending it would mean that the interest is still due for that loan. I understand it was paid off, however, as it was settled using the top up (which has now been deemed as irresponsible) that previous balance of interest becomes due again which is that £942.07. This amount has been deducted from the redress/refund amount due to you.
Again, I do hope this does make the redress figures more clear to understand. If you have any further questions please don’t hesitate to contact us as it can be quite confusing.
Is it worth to go back to Amigo or take to the FOS? If so what do I say? Thanks
Sara (Debt Camel) says
Tell Amigo you are taking the complaint to FOS.
Is your case already at FOS?
Frazer says
I recieved my final response on the 18th of June and I am still yet to even recieve my final redress/ calculations. This comes after waiting initially since the 17th of march when I originally raised my complaint!
Doing some research it looks like amigo intend on issuing a new budget on or before 23rd of july and im starting to think thats what is causing the delays and not covid 19 as ive been told multiple times.
Sean says
Received our refund thank you so much! Accepted redress on the 30th received monies yesterday, just wondering if anyone knows when my guarantor will receive their refunds? They accepted redress week before we did
Sara (Debt Camel) says
refund timings are just random. Well that’s what it seems like. What happened to other people won’t help you work out when your guarantor is likely to get their money back :(
But good you got yours!
Sean says
Thank you Sara you’ve been a great help throughout all of this, I’ll update when guarantor has received x
Tracy Smith says
Great news me and my garantor have been messed about so much told we get payment together she been waiting since 9th June I got mine but she has to keep xmchasing them I excepted on 29th she should have here’s by now im taking this higher nothing getting done .
Kelly says
I accepted 23rd and was told I have to wait until 14th to phone them if nothing is in my account. It’s very frustrating seeing everyone who accepted a week later getting their funds in their banks. The lady also told me it was likely to be before the 14th but I’m guessing that was a load of rubbish. My account was closed and settled in June when I paid my balance off and then I received the email with amount of redress on the 19th June.
Stevann says
I am the same accepted the 15th of last month and told will be in my bank within 15 working days.
Its 20 working days now and It’s still not on my bank and each time I phone just told they will look into it and to wait. Fobbed of each time. Frustrating seeing other being paid in less shorter timeframes.
Kelly says
Stevan do you think because we paid our balances off before we got the redress emails that they are just robbing us off? It is really starting to do my head in?
Did anyone pay their balance off before they accepted redress amount and have since he funds in the bank?
Stevan says
Hi Kelly – yes I think that the case.
If you have paid your loan off already and had no GT involvement then you bottom of the list.
There are obviously settling everyone else accounts to see how money if left in the pot probably. The FCA should be made aware of this I feel!
Sean says
Morning sara
im currently 4 weeks into my amigo loans complaint and i am doing it through resolver i have had a message saying i can escalate my complaint do you think it would be an idea to, amigo have sent me an email to say its been 4 weeks and they are still looking into complaint
thanks
Shelby says
I did because it means escalate to the senior manager not the FOS that will come up on week 8 x
Ed says
Just to give some a bit of hope. I complained to Amigo in the last week of April. Didn’t have to speak with anyone over the phone. Received a few generic “we are still looking into this” emails over the course. I just left them to it. At week 8 I sent it to FOS. At week 10 Amigo sent their final response unfolding my complaint and the money arrived in my account 7 days after accepting. For me it has been a near seamless and almost stress free process. They are capable of getting it done in an almost reasonable time. I was lucky.
LEE says
Anyone else still not even had their final response yet? I’m 19 weeks waiting as of Monday next week and still nothing. Argh anyone!
Andrea says
Yep you are not alone, 18 weeks tomorrow and still waiting
jordan says
Not sure this is hope for those at 20 weeks plus haha.
But im glad you got yours sorted pal.
Still baffles me why they aren’t doing these in order
Siobhan says
Mine has been going since August last year lol. Only recently have FOS contacted me for bank statements. I’m not holding out much hope but fingers crossed.
RF says
Quick update from my adjudicator for those with complaints on loans over 6 years old (mine was previously with the Ombudsman to assess duristiction):
“In the meantime we have had a further update from Amigo this week, which affects your case. They’ve decided to waive their jurisdiction objection, in regards to the 6&3 time limit on all cases that are currently with us. As they objected to your case under this rule, your case will be included in this. They’ve told us that they will send across their files on these cases and we’re waiting for Amigo to give us a timescale on when we can expect to receive them”
Sara (Debt Camel) says
Good news!
Stevan says
Morning All,
accepted the 15th of last month and told will be in my bank within 15 working days.
Its 20 working days now and It’s still not on my bank and each time I phone just told they will look into it and to wait. Fobbed of each time. Good to see being people being paid but equally frustrating seeing other being paid in less shorter timeframes.
Why can’t they just be honest with us and give the real timeframes…
My account was closed two year ago when paid the loan off.
Lisa b says
Hi everyone just letting you know I had an email back from TrustTwo this morning, they are saying that my first loan was affordable and tbh it was and I don’t have access to my old bank account details to prove them otherwise.
But my top up loan of £8000 they have said they didn’t do the correct amount of checks which would of shown it being unaffordable so they have removed the interest and because I have paid back £7876 already I only need to pay £124 and my loan will be closed. Saving me £8000 in interest!!
Thank you Sara for this site the whole process took 9 weeks 3 days :D I did send to the FOS at 8 weeks but haven’t heard anything from them yet anyway.
Lisa b says
I’ve just had a thought, on my top up (£8k) I only actually got £7028 so should I actually owe them anything? My brains a bit frazzled by it all
Jason says
Working day 15 no figures.
Any obudsman cases having any luck?
Gemma says
Nope Jason same 15 working days! My investigator just said she’s chasing it but nothing ☹️
Ahmed says
Same here jason ….been waiting for redress figures since 16 June ….have called them same answer not long now….what ever that means lol…from Amigo
Worst thing is can’t stop my self checking email 100 times a day too …lol
Paul says
Another FOS case here – still waiting for figures since 10th June – there is obviously some sort of problem with these particular complaints. I am waiting to hear back from my FOS adjudicator but have resolved to write to both Amigo’s Regulatory and Public Affairs Officer and to the FCA on Monday. This has now become a question of Amigo unfairly treating one group of customers differently from others – and that should stop.
K! says
I am in the same boat. 10th June sent for calculating redress. 22 days of nothing and their time schedule is supposed to be 10 days. Who is on the calculator?????
Jamie says
Have u accepted reasoned and just waiting for Monday
K! says
I haven’t got any calculations yet. Still waiting for an email for the figures. Keep ringing. Says they’re still waiting for the numbers. It’s so annoying. So stressed as this has been going on since feb
Gemma says
I just can’t get my head round it! They were told to clear the FOS backlog and seemed like they have done the opposite.
Jase says
Same boat..
Waited 15 working days
Fellowman says
I have took some similar action. I have now been waiting for figures since the 3rd of june, after accepting through the FOS. They are definitely continuing to deal with recent complaints over our older complaints, even though ours are upheld. Efforts should be focused on dealing with these fairly, not prioritising clearing a backlog so it looks bad on paper. Its simply not fair having to wait this long for figures or payment. When new cases are being dealt with start to finish and paid in a matter of weeks when picked up. Let’s hope someone in a position either at Amigo or fos spot it and put it right.
Stevan says
Hi Sara,
What is your thoughts on people who settled there accounts prior, with no GT involvement and are being fobbed off about after accepting redress. im on working day 20, was told with 15 days.
James says
Terrible ain’t it my gaurentore was involved but didn’t accept refund so money stays on account will settle and I’ll get s redness I’ve accepted and account still closed it’s taken the mic
Sara (Debt Camel) says
the process will probably be slower for anyone who getting a cash refund – as opposed to a reduction in their outstanding balance – as after the figures have been calculated there is the cash payment to be processed. It’s hard to see why some take so long, some cask payments go through quicker.
Claire says
I am still waiting for the final decision I am on week 20 :(
LEE says
Oh no! We are all bobbing along in the same limbo boat :(
Andrea says
I just called before 6pm he said mine had been looked at and was waiting for them to work the figures out.
Same reply as a few got yest.
Won’t hold my breath too me and hour to work all fine out from scratch 🙈🙈🙈
Claire says
We are :( I called Wednesday and they advised me they are calculating my figures and will send me an Email with a offer so who knows if it’s upheld or not so confusing I hope you both get a decision soon.
Paul says
If Amigo hasn’t settled an offer made through FOS in a reasonable time frame, is it worth asking for a final decision from the Ombudsman so that the payment of redress can be enforced?
Fellowman says
the complaint is considered upheld / resolved. The ombudsman can’t do anything else. Other than maybe push Amigo to get these finalised quicker.
Fellowman says
Looking for advice.
Now my complaint is upheld and Amigo have admitted liability for all loans. With no figures after 5 weeks. Would seeking a CCJ against Amigo for the redress be a sensible option?
Any thoughts. The cost is 5% of balance owed.
Paul says
I doubt it Fellowman as the Amigo offer was carefully worded as being “without prejudice to any future position” and as being offered in “goodwill” only. I don’t think their offer is enforceable – they could just withdraw it – and i would never be surprised if they did! Hence my question about the Ombudsman Final Decision, which i believe is the only mechanism of enforceability. However, I guess if they withdrew their offer at any point, then it could go back to the Ombudsman again as it would once again be an unsettled complaint.
Fellowman says
Looks like we are at their mercy for now then. Thanks.
Sara (Debt Camel) says
There is a special procedure to “enforce ” a Final decision from an Ombudsman. This doesn’t apply to adjuicator decisions. Or to amigo offers.
If you decide to go to court for a CCJ you need to bear in mind:
– the country courts aren’t really open at the moment
– last year it took on average 9 months for a CCJ to go to a judgement if it was defended… this year post lockdown it is expected to be a lot longer.
Ali says
Hi Sara, ive posted on here before about 8 weeks ago
After sending in an Affordability complaint (based on gambling) and along with all bank statement
I have today received:
“We write further to our recent correspondence to let you know that we are continuing with our investigation into your concerns.
I am sorry to say that we have not yet been able to issue a response to your complaint. We are presently experiencing a large number of customer enquiries and the Covid-19 crisis has impacted our ability to respond as quickly as we would like. I am sorry about this delay, but want to assure you that we have not forgotten about your concerns and we will be issuing a full response as soon as we can.
As you may be aware, now that eight weeks have passed since you referred your complaint to us, you do now have the option to refer your complaint directly to the Financial Ombudsman Service without waiting for our final response to your case. Their details are set out below. But please rest assured that we will progress your case as soon as we can and once you have seen and considered our full response you will still have the opportunity to refer your case on to the Ombudsman if you remain dissatisfied”
Do i now go to the FOS and attach all emailed to and from with Amigo and also inclide bank statements?
Thanks so much!
Sara (Debt Camel) says
It’s up to you. You could decide to give them another couple of weeks? Or send the case to FOS now. Personally I wouldn’t let this drift on for more than another few weeks – Amigo don’t always make good offers and if they don’t with you after 16 or 18 weeks you will regret not having got yourself in the FOS queue earlier.
Johnny says
Redress received last Thursday, paid yesterday, would off been sooner only there was a problem with bank details, so happy it’s all over now, and was so quick since I received response from complaint.
David says
Wonder why they paying some quicker than others strange I’ve been waiting since 29th
Johnny D says
Hi Johnny
Recieved my redress last Thursday and agreed on the Friday. Today I got a phone call saying the same thing as you, cant verify that account so had to give another account. Can I ask how long after giving them another account did you get the money? TIA…
Tracy Smith says
Just got refund for my garantor good luck everyone been a nitemare glad over
Sara (Debt Camel) says
Tracy at last!
Have a much more relaxed weekend.
Ben says
Yes when did u accept Tracey
Tracy Smith says
Yes thanks excepted 29tb
Ben says
Figures given to me in 9/6/20. Accepted. Guarantor accepted. Still not recieved, account still remains in negative figures. Told million different things, was told today its being put through as a priority, so angry it’s over a month since I accepted their redress..
Ben d says
Actually could cry! Still sending harassment letters (Al be it I understand their notification system is still live) but threatening court action to my guarantor – after recieving emails to denote no longer holding any liability and giving refund figures! Not answering to any of my emails.
To top it off I broke my ankle on Tuesday and I’m off work! 😭
Lk says
Has anyone received their figures on a Saturday? They’re late giving me mine and said it should be a few days…
K says
I received my figures on a Saturday! Couldn’t call to accept until the Monday though. I’m still waiting for payout!
Lk says
Thanks k. Was yours also late?
K says
Yeah, I called them the Thursday before then the figures arrived on the sat. Just patiently waiting for the funds to hit my bank now!
Lk says
Ah :( exactly the same as I did but still no figures today. Hopefully you get them soon!
Sean says
Both myself and guarantor have received monies from redress, thank you all for your help and thank you Sara for putting your time into making pages like this so we can get all the info we need, I hope you all get every penny your owed back and aren’t waiting too much longer, shame I can’t go away a to celebrate! Bottle of bubblies will have to suffice 😂
Sara (Debt Camel) says
A small donation to your local Citizens Advice would be great!
Martin says
I got my redress today and although I’m pleased with the amount I’m confused by what happens next.
Is correct that I have to keep paying the same payments as before.
They said yes and if offer less it will affect my credit file.
Amigo is the lender and there is just 1358 pounds left after the redress if I accept it but it seems odd that they are demanding the money off me on their terms.
Sara (Debt Camel) says
What they are saying doesn’t sound right…
A couple more questions:
– have they said they are releasing your guarantor?
– are they refunding all the loans you had from them? If No, is there a line on the calculations they sent you for something like “Unpaid Interest from non-upheld loan”?
Martin says
There has been no mention of refund just refund of my balance of the interest I paid on every loan I’ve ever had.
The guy today said they may be interest still on the balance monthly.
I’m just unsure as it seems not right.
And yes gaurantor has been released
Sara (Debt Camel) says
ok well he was quite wrong.
They cannot charge you interest on the last loan if it is being refunded. And you can make an arrangement o pay it an affordable rate.
If you have other problem debts, putting them all into a debt management plan may be good.
If you would like to check the numbers on the refund (seeing as they seem to be getting so much else wrong…) then I need to know:
For each loan, how much you borrowed? how much you received in cash if it was a top-up? How much you paid in monthly payments eg 7 lots of £159?
Also did your guarantor make any payments?
Martin says
They have also said that if I was to take another payment holiday due to Covid I would be charged interest for that month
Sara (Debt Camel) says
This too is wrong. You now have a loan which is in forbearance, they can’t add more interest.
From here on, you only have to make a payment you can afford.
What are the rest of your finances like at the moment? Are you affected by Covid-19?
If all this was on the phone, ask them to put it in an email as you will be complaining to the ombudsman about it.
Martin says
I will ask that on Monday thanks for the advice but the guy today was pretty certain that I had to pay what they say not what I can afford.
The truth is money is terrible right now but mainly because of them and my own Immaturity.
I understand the reason I’m in this mess but the first loan company that lent me money 5 years ago were amigo.
Sara (Debt Camel) says
Honestly he is wrong… I bet he won’t put that in writing to you.
Please do look up all the details and give me the details to make sure Amigo have done the calculations right.
Is this complaint already with the Ombudsman?
Sorry to hear the rest of your finances are bad. Do you mind saying what other debts you have?
Martin says
Credit cards Etc mainly.
It’s not with the ombudsman at all.
I had mentioned this on a previous thread but I could remember the exact calculations.
You estimated I would owe about 600 pounds.
Sara (Debt Camel) says
The calculation thread was here https://debtcamel.co.uk/payday-loan-refunds/comment-page-195/#comment-370149
I made it £456. That is a long way from 1358… if you think the numbers you put in that earlier thread are about right, ask Amigo to supply you with the details of how they calculated the £1358.
Amigo are getting some of these calculations wrong…
Martin says
My estimates were rough as I can’t remember that far back
Sara (Debt Camel) says
Well it’s up to you, you can ask Amigo for the account statements fir each of your debts which will show what you did pay. This doesn’t sound like you were wrong by a couple of months…
Anna says
Hi Sara
30/06/2020 I received my final response + redress and here are my figures from 3 loans ( Loan 2 and 3 are being upheld). Timeline – Submit mine complain on 15 of Jan 2020. At the moment I`m not accept Amigo offer, not agree with decision on Loan 1, I believe it was unaffordable too, so I`m going to go to the FOS with loan 1. Just wanted your thoughts on what amigo offer me now, and what will be possible redress if they upheld loan 1. Thank you.
Loan 1 – 07/07/2015 – £5000
Paid: £197.62 x 12, total paid £2371.44
Top up loan 2 – 20/07/2016 – £7500 – received £2789.13
Paid: £296.44 x 9, £5500 x 1, total paid £8167.96
Top up loan 3 – 22/03/2018 – £7000 – received £4102.30 (previous loan settled with £2897.69)
Paid: £276.67 x 21, total paid £5810.07
Amigo send me that numbers:
£9801.75 – Total interest
£33.73 – 8% Simple Interest after Deduction
£8.43 – 20% Basic Rate Deduction on 8%
£0.00 – Fees and/or Charges
£1541.63 – Unpaid Interest from non-upheld loan
£8293.75 – Total Redress Payable
£6595 – Current loan balance
£0.00 – Balance less Redress
£1697.83 – Cash refund
Sara (Debt Camel) says
On those figures, you have paid the following interest so far:
loan 1 2075
loan 2 3564
loan 3 – you have only paid 5796 so far, less than the 7000 borrowed so if this was the only loan refunded, you would still owe 1204 on it.
If all thre loans are refunded, then the interest on the first two clears the reduced balance of 1204 on the lats loan and you would get a cash refund of £4435.
That was what yoiu were asking… BUT there is another problem with what Amigo have done….
Tthat line “£1541.63 – Unpaid Interest from non-upheld loan” should not be there. Even if FOS says the first loan is affordable, Amigo had no right to subtract this amount for extra interest on loan 1. You settled loan one when you took the top up and Amigo has no right to unpick that settlement and declare you now owe them more money.
So when you go to FOS (is your complaint already with them?) make sure you mention the two things – the first loan was also unaffordable AND Amigo took money off your redress because of “unpaid interest” which is unfair.
Steve says
Hi Sara.
When sending my complaint to FOS. Do you have to mention about your gambling. (This is heavily noticed on my statements) This is also backed up by my links to what I have done to address this over the years as well to add. :-) or do I just add that if they question later on?
Thanks.
Sara (Debt Camel) says
I think it’s helpful to describe your situation in your own words. This doesn’t have to be very long. eg “From 2013 to 2018 I had major problems with gambling which Amigo would have seen if they had looked at my bank statements.”
Steve says
Ok thank you. I always feel a bit reserved about that even though it does show on my statement it’s just not something I like to talk about as it is not the past.
Sara (Debt Camel) says
Understandable! But FOS needs to see the complete picture and this is an important part of it. They aren’t judgemental.
Nicole says
Hi
So I accepted my redress offer on 6th July.. they are basically paying the balance off the rest of my current loan.. although my next monthly payment is the 20th July what if they don’t pay it in time do I still have to make my monthly payment?
Sara (Debt Camel) says
I suggest you cancel the next payment now if you won’t owe anything. Otherwise they have to take that into account and increase your redress which may mean redoing the calculation.
Of you will owe something, you can then set up a payment arrangement for an affordable amount.
Julie says
Sarah I agreed my redness on 29 th mine when I ill my account close and I get my money
Sherrie says
Sarah,
I firstly wanted to start by thanking you so much for your amazing support and advice via this site.
I have been contacted by Amigo with my final redress and I am really overwhelmed…..
Total Interest – £17.313.09
% Simple Interest (After Tax Deduction) £1,902.84
20% Basic Rate Tax Deduction on 8% Simple Interest £475.71
Fees and/or Charges £0.00
Unpaid Interest on non-upheld loan £230.49
Total Redress Payable
£18,985.44
Previous Loan Balance £8,064.82
Sum of Guarantor Refund £592.86
New Balance (after guarantor refund) £8,657.68
New Balance Less Redress £0.00
Cash Refund £10,327.76
I have accepted as this has been a very emotional 9 months, I am aware that they should not be taking off unpaid interest on the loan they did not up hold.
This is better than I could have expect cant wait to delete the App. I am also supporting my Mum with her Provident affordability complaint as you have given me the confidence to tackle this mountain.
Wish you all the best, for all those still battling its worth the wait just for the freedom of it all very liberating!
Sherrie
Gemma says
Hi sherrie was this upheld through fos and how long did it take for you to receive your redress calculations?
Sherrie says
Hi Gemma,
This was all done direct with amigo, referred to FOS and still had not been allocated due to COVI-19 and back logs.
The redress email took 8 working days from the date my guarantor received her email and accepted refund.
If you like I will update the length of time I have to wait for actual redress and Guarantors refund. We have been told 15 days possibly 1st week in August if not sooner.
Dave says
Please can someone help I accepted on 29th and still not got my money
What can I do is anyone else still waiting
K says
I’m still waiting! Also accepted on 29th hopefully be this week.
Dave says
Please can you keep me updated
Has your account closed yet
K says
No it’s still showing as open, I’m going to call them today.
Dave says
I’m gonna ring them at 9 let me know what they say to you
Dave says
I’ve just rang
They said Can take upto 15 workint rwue which is Monday 20th
She is to text me on Thursday lunchtime with an update as hopefully should be done by then ifits not they will let me know what’s happening
K says
So basically when I was told 15 days in the first place this was the wrong info and can take upto 35, they are very sorry about the delay but hopefully should be sorted by the end of the month! Guess we will just have to wait!
Michael says
Hi my guarantor accepted a refund on the 9th of June, the refund has still not been paid yet after them saying it would be 10/15 days has anybody else been waiting this long for payment
James says
Basically what I was told is that it’s 10-15 days from when you accept your redress and you’ll both be paid the same time.
PM says
I was told the same. 35 days from when they agree to uphold your complaint. 2 weeks for your guarantor to respond (still stands even if they accept on day 1), then your calculations are sent within 1 week, then up to 2 weeks for payment to reach both of you. Seems excessive but this is the generic response they’ll give you unless you’ve gone over those 5 weeks
Jay B says
Hello,
I sent my complaint on 28/05/2020 and I have not received the SAR as requested. I received two automated responses from them. The first to confirm the complaint and the second the ‘needing more time’. I sent the statements today (as my account was closed and they were very slow) and did request an update on the SAR/complaint. Not expecting a complaint response but worth a try haha
DLMB2017 says
It seems to have gone very quiet with regards to people getting responses again….is this a result of Amigo being given until the end of October to sort this out? We had a rush coming through as their June deadline approached, then we haven’t heard anything. I certainly haven’t anyway. Slightly worrying! My payment break is up this month, and i’m not sure what to do.
Sara (Debt Camel) says
They got through a hell of a lot by the end of June.
But responses are still going out. Look up through the comments on this page, some in the last few days.
If your finances are still affected by Coronavirus, you can ask for anther 3 month payment break.
Kat says
Hi Sara
Just a quick question-
I have had 3 out of 4 of my loans upheld- which is fantastic- but unfortunately not my first loan which is where most of my interest was paid- however after reading through amigos final offer letter to me/ they have confirmed that TransUnion (call credit) confirmed my income? Surely they should have asked for bank statements or payslips from me instead of relying on a credit reference agency??
My question is- is using TransUnion enough of a source for confirming my income?
Sara (Debt Camel) says
Was the income they had accurate? It won’t matter if they didn’t check properly if the figure was actually correct.
But the real question you should be thinking about is whether the first loan was actually affordable for you or not. Not the details of what Amigo did and didn’t check…
So – did making the repayments on this loan cause you difficulty – did you have to borrow elsewhere? get behind with bills? If YES , then you should send this case to the Ombudsman and say you feel the first loan was unaffordable and if Amigo had looked properly at your situation eg looking at your bank statements, they would not have given you the loan. Don’t get hung up on the way they verified your income, what matters is your whole situation.
ALSO
is there a line in your calculation saying “something like “Unpaid Interest on non-upheld loan” ? If there is, they should NOT be deducting anything for that. Tell the Ombudsman about that too!
ross says
Could you please calculate the redress on these figures please
loan 1
03 Nov 2016
£4,000.00
60 months
£158.10 a month
loan 2 (top up)
04 Apr 2017
£6,000.00
I received £2087.65
60 months
£237.15 a month
loan 3 (top up)
05 Jul 2018
£9,750.00
I received £4158.36
60 months
£385.37 a month
Payments I made.
1. 5 payments of £158.10 total paid= £790.50
2. 15 payments of £237.15 total paid= £3557.25
3. 19 payments of £385.37 total paid= £7322.03
Final payment of £8599.99 January 2020
ross says
Loan agreement 1 calculation.
loan amount £4000
I paid £790.50
Loan top up of £6000 (loan agreement 2)
I received £2087.65
£6000-£2087.65= £3912.35 was used to pay off loan agreement 1
£3912.35+£790.50= £4702.85
£4702.85-£4000= £702.85 excess of the capital amount of the loan agreement.
Redress on loan agreement 1 £702.85+(8%-20% tax on interest) simple interest= £747.83
Loan agreement 2 calculation
loan amount £6000
I paid £3557.35
Loan top up of £9750 (loan agreement 3)
I received £4158.36
£9750-£4158.36= £5591.64 was used to pay off loan agreement 2
£5591.64+£3557.35= £9148.99
£9147.99-£6000+ £3148.99 excess of the capital amount of the loan agreement.
Redress on loan agreement 2 £3138.99+(8%-20% tax on interest) simple interest= £3339.88
Loan agreement 3 calculation
loan amount £9750
I paid £7322.03
Final payment made £8599.01
total paid= £7322.03+£8599.01= £15,921.04
£15,921.04-£9750= £6171.04 excess of the capital amount of the loan agreement.
Redress on loan agreement 3 £6171.04+(8%-20% tax on interest) simple interest= £6565.98
Total redress to be paid to me
£747.83+£3339.88+£6565.98= £10,653.89
They offered me £9,691.45 (that includes the interest of £ 26.95 – 20%) surely that cant be right
Sara (Debt Camel) says
My rough calculations of the interest paid on each loan are:
loan 1 703
loan 2 3147
loan 3 6164
total £10014
The detailed calulations you gave – those are your calculations? They match mine for the “excess of the capital amount of the loan agreement.” calculations.
But you have completely misunderstood the 8% calculations. You appear to be taking 8% of the excess capital number and taking off 205 tax. That is not how these calculations work. It is 8% PER ANNUM, but you need to know the date the per annum calculation starts from… And Amigo starts that from the point where you no longer owe them any money.
However let’s ignore the 8% part…
“They offered me £9,691.45”
can you give all the components in this line? because it doesn’t sound right, It can’t be less than 10014 (unless some of the figures you gave were wrong).
So that pretty much matches what the calculations were.
ross says
Yeah that’s my calculations. I understand the mistake in the percentage calculation.
They said my total interest I paid was £9664.50
8% simple interest was £26.95-£6.74= £9691.45 Cash refund.
That’s the only information stated on the letter.
All my figures are correct.
So is the 8% interest only calculated per annum once all loans are paid off? surely it should be from when the individual loan is paid off or topped up as that’s a new agreement?
Should pursue this mistake or just accept there offer as its quite close to being correct?
Sara (Debt Camel) says
Well it’s £400 out… it’s up to you if you feel strongly about this. I think it is worth asking Amigo to look again at their calculation as you think the interest paid is incorrect. Ask them to break this down by loan – that should make it easier to spot the problem.
I think Amigo calculate the 8% interest in an unfair way, but unless you are prepared to dispute this and go to the ombudsamn they will not change their mind. So far most people have decided they would would rather have the matter closed.