UPDATES:
Do not use the template on this page for Amigo, Buddy, George Banco, Trust Two, Glo. It is now too late to complain about them.
For TFS see TFS Loans goes into administration.
Guarantor loans are very expensive. Often the lender didn’t check properly that you 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, Buddy, George Banco, Trust Two, TFS, Consollo, Glo. It is now too late to complain about them or you have to go to the administrators – see the update at the top of this page.
For all other guarantor lenders, including ones that have stopped lending, send your complaint by email – here is a list of lender email addresses:
Guarantormyloan – customerservice@guarantormyloan.co.uk
Hero Loans (Hamilton Greig) – collections@heroloans.co.uk (put COMPLAINT as the title)
Juo Loans – customerservices@shelbyfinance.com
LendFair – in liquidation. Contact angus.gilles@mhllp.co.uk.
Suco – hello@suco.co.uk (ignore any suggestions to contact ODR – you want a reply to your complaint from Suco and send the complaint to the Financial Ombudsman if it is rejected.)
UKCredit – no longer lending but you can still complain to welcome@ukcredit.co.uk (put COMPLAINT as the title)
1 plus 1 complaints@1plus1loans.co.uk.
Use SAR AND COMPLAINT BY BORROWER as the email title.
Here is a template. Change it to describe what happened to you and delete what doesn’t apply.
Only put this in if it applies to you: I took a top up of [£2,500] in [March 2018]
Add a reference number for the loan or give some other details such as your date of birth and your address when you took the loan out.
Please send me a copy of all the personal information that you have about me, including but not limited to all credit record checks, a copy of my loan application(s) and recordings of all phone calls from me. You have 30 days to reply to this Subject Access Request (SAR).
I am making an affordability complaint. This loan was/These loans were unaffordable for me and you would have realised this if you had checked properly before giving me the loan(s).
Delete or change any of the following so they are right for you:
[You would have seen from my credit record that I had recently missed payments/had defaults/was in a DMP/IVA.]
[I was on a low income/My only income was my pension/benefits.]
[You did not ask me for proof of my income or expenses and you did not ask about my expenses in detail.]
[I get ESA/PIP/DLA but you did not ask me if I had any extra expenses because of this.]
[I had a gambling problem which you could have seen from my bank statements.]
If you topped up the original loan: When I topped up the loan you should have seen from my credit record that my financial situation had got worse. [delete if not relevant: You ignored the fact that I had made several payments late to you.]
If you still owe money:[I am asking you to remove the interest from the balance so I only have to repay what I borrowed, release my guarantor and allow me to make lower monthly payments.]
If the loan has been repaid change that to [refund me the interest that I have paid plus 8% statutory interest.]
If you don’t want your guarantor to be told: [I want to carry on making the normal monthly payments because I do not want my guarantor to be affected. Please note I do not want my guarantor to be informed about my complaint unless my complaint is upheld.]
You have 8 weeks to respond to my complaint before I send it to the Financial Ombudsman.
If you would like some help with this, then go to your local Citizens Advice.
Definitely send bank statements!
It’s good if you can attach bank statements to your complaint. Send three months of statements before each loan or top-up and two months afterwards. So if you had a loan in August 2017, send statements for May-September 2017.
These statements will show how unaffordable your loans were. Don’t worry if there is gambling showing on the statements – that helps your case!
Don’t delay starting a complaint if you are trying to get your bank statements – just add them later. But now is a good time to get the statements as they can help your case.
Also get a copy of your credit record if this will show defaults, that your debts were increasing, that you had a large overdraft etc. Download this and keep it.
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 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
Paul says
So checked my account yesterday and it was still active so tried again at 2230pm and account now closed hopefully finally coming to an end anyone know how quick they pay out refunds after account is closed please
Simon says
Update…..
My complaint from December 2019 was turned down and passed to FOS in March 2020. Email from adjudicator today to say on spreadsheet Amigo had sent over they are offering to refund the interest of loans 1-6 and 11- 16. Not sure why they think 7 to 10 should be left out. They still havent sent the business file over. 4 of those loans were settled to the tune of £18,000. The fight continues….
Sara (Debt Camel) says
You had 16 loans from Amigo? Wow.
Simon says
All dating back from 2009. I feel the pain of those who have been waiting since last year or early this year. Unlike most complaints made I actually have the proof of how unaffordable every loan was. I’m unsure how they haven’t challenged people to prove in more depth their loans were unaffordable. It would appear they have just sent a spreadsheet to FOS of bulk cases offering them all sorts. Such a painful experience…
Laura says
Sorry to post again. I sent my complaint to the FOS after Amigo hadn’t responded after 8 weeks this was on 1st July. I then had an email from Amigo on 24th July which I rejected, so I sent another complaint to the FOS with what Amigo had offered. Is this the right thing to do? My anxiety is through the roof and my mental health is suffering, I have only had about 4 hour sleep on 48hrs. My question is (which may not be able to be answered) how long does it usually take to get a response from the FOS. Amigo replied to me rejecting there offer with a simple “we will wait to hear from the FOS”. I’m currently in “breathing space” and not making the nearly £340 a month payment but I am due to restart making payments 1st September again and I’m worried that we will struggle with household bills/food etc again.
Sara (Debt Camel) says
It’s sometimes difficult to decide whether to accept a “partial uphold” offer, but in your case they are refunding loans 2 & 3 but not the current loan 4 and you would still owe a balance…
So they aren’t offering you any cash refund or even to remove your guarantor. So I think sending it to FOS to look at was the right thing to do.
Do you think your mum could put in a complaint? Saying that she couldn’t have afforded to make all the loan repayments for the last top up loan? If she was only working 4 days a week that might have been difficult for her. If she can win this complaint, she is removed as guarantor and you can then reduce what you pay to an affordable amount. There is a template letter for a guarantor on this other page: https://debtcamel.co.uk/amigo-complaints-by-guarantor/
Laura Sparke says
Thanks Sara, hopefully won’t take too long at the FOS. Fingers crossed.
ASk says
Just to give you all hope. 12 weeks from complaint to resolution. Agreed redress yesterday. Received funds today. Good luck everyone and thanks to all here who have given the help and support.
PM says
Money received tonight at 6pm! Just over £8k to my guarantor who’s transferred it to me. 18 weeks to get my final response, 3 weeks from then to get my calculations, then paid on the third working day after. Absolutely buzzing considering they’d told me 20 working days for payment. Thanks so much Sara. I’ll make a donation!
Laura says
Congratulations my guarantor excepted 9th July first day he was offered one I had my figures Today and excepted today fingers crossed get it soon no time frame from the company I used to get the refund through had their bill though 10 mins after I expected! Have 10 working days to pay so hoping it comes before then so get them paid off and my loan will be cleared finally xx
PM says
I was surprised how fast the payment was made. Hopefully you’ll have yours in no time. Good luck!
Graeme says
Hi. See after you received your email stating you will get compensation and they will contact your guarantor how long did your guarantor wait till they got an offer?
Jason Rock says
Just had my readress letter today even though its 3 days late.
My question is how is my guarantor entitled to half when she only made 2 payments is this worth challenging as we don’t get on or still on speaking terms.
And how do i claim the tax back which is 390 pounds.
Thank you
Sara (Debt Camel) says
So how much are they saying your guarantor will get?
Jason Rock says
4800 yet she paid twice, 600 in total
i get 4500. I settled all loans myself finished paying last one in 2018
Sara (Debt Camel) says
Then Amigo have got the guarantor refund badly wrong. Go back to them tom orrow and be very peristent that she only paid 2 lots of £300 (or whatever) and so her refund can’t possibly be that large.
You had a go at your numbers here https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-44/#comment-374217 – can you check and see if they really were accurate? because if they were it isn’t just that they are giving some of your refund to the guarantor, because 4800 + 4500 is a lot less than the interest you paid…
I suppose they may be looking at completely the wrong case?
Jason Rock says
Thank you will speak with them in the morning
NeverAgain!! says
Just got my email…..all loans upheld except for the first one which I expected and it was only £750 so not too bothered. Sent complaint in on 15th June so they’ve been really quick. Seems my guarantor made one payment (which I obviously reimbursed) so have told her to accept their offer as soon as they contact her and then hopefully I’ll get mine. If your calculations are right Sara should be getting just short of £6k!!! All loans paid off so good wee lift for my bank account. Cannot thank you enough. You have been awesome xx
Fellowman says
Never again!..did you say you complained initially on the 15th june and they have upheld so soon. Wow, that is quick.
NeverAgain!! says
Yeah. I was really surprised especially when I read some people have waited months
Mark says
Hi,
I had a guarantor loan from UKCredit April 2015 of £6k after having 15 payday loans in the previous 4 months, I still had payday loans on my credit report and I also had missed payments on my report along with a lot of gambling on my bank statements prior to getting the loan.
I was very surprised that the ombudsman rejected my affordability complaint after seeing so many being held up recently.
Sara (Debt Camel) says
If this was an adjudicator decision, you can ask for it to looked at by an Ombudsman. Set out you reasons for disagreeing with the adjudicator and ask for them to be passed on to the Ombudsman.
NeveeAgain!! says
Can I ask a silly question? When a complaint is upheld with guarantor involved, does the guarantor know how much is refunded to you or any details of the amounts borrowed? I have the same guarantor for all loans but she wasn’t aware of the top ups.
Sara (Debt Camel) says
Not sure how your guarantor wasn’t aware of the top ups, but no, she shouldn’t told what you are getting.
Andrea says
They always wanted to speak to the guarantor?
Steve says
I visited this website by chance looking at Amigo Refunds not thinking for a second that I would be eligible – similar things I’ve tried in the past have been unfruitful. However I would like to thank You for your letter template and advice pages as I been successful in getting redress from Amigo.
Sent in complaint end of March, acknowledged 6th April.
Had multiple delay emails from them and then on 23rd July I had email with decision & redress amount of £9700. Once it paid off my remaining loan I had £8600 in cash to come back. I accepted this the same day.
Reading the threads I wasn’t hopeful of this happening in any timely fashion however this evening 28th July at 6pm, the redress amount appeared in my account.
I am shocked and so happy as I’m now almost debt free and can’t thank Debt Camel & Sara enough!
It takes some time but the refunds do come through.
Samantha says
Hi I’ve just received my response from amigo stating they are upholding all of my loans and said I will receive redress figures round about the 11th August. My next direct debit is due in a couple of days, can I cancel this or do I need to leave it? Thanks
Sara (Debt Camel) says
do you expect that you will be left owing a balance after all the redress? or that you will get a cash refund?
Samantha says
I will owe about £400 but this should be wiped by the previous loans I had with them and they upheld all of the loans I had
Sara (Debt Camel) says
Then I suggest you stop the DD. If you pay them after they have done the calculation they have to to do it again!
James says
Hi Sara,
Something which just popped into my head, with the last of my 3 loans my friend paid it off on his CC to clear it for me and i paid him back over 5 months, he paid about 5k in total, will this affect me if my claim is upheld? The money has been completely paid back but they will obviously see it being paid from another card?
Thanks
Sara (Debt Camel) says
If he wasn’t the guarantor that can’t make a difference. If he was the guarantor it shouldn’t, but I don’t know if Amigo will have spotted it.
James says
Thanks Sara, they were not the guarantor, so it won’t make a difference?
Sara (Debt Camel) says
no difference at all.
Wpg says
Hi everyone. Here’s my story of my complaint with Amigo loans. This was September 9th 2019. I had a 3k loan in 2011 and a 5k topup in December 2012. They first stated that they had no record of me. I then provided evidence of my loan and they then logged my complaint on the 10th of September. I then received 2 emails from them on the 11th of September, the first a rejection letter for someone else’s complaint. Slight data breach on their part which caused me quite a lot of distress if I’m being fair. Then the second email 2 minutes later with my own rejection letter. It took myself to alert the agent off his breach so he could tell the poor chap his error. My complaint came after the 6 year mark by 9 months so I took my claim to the financial ombudsman. They responded and my complaint was logged on 24th October 2019. I was contacted on 13th March 2020 to inform me that my case worker had written to Amigo and asked them to redpond by 27th March. I was then contacted by my case worker to say they have upeld the second loan and that they will be in contact soon. This was 6 days ago. My calculations are as follows. I made 21 payments of £197 then paid the remaining £4204 in full in 2014. I’ve worked out £3341 interest. Plus 8% £267.28 x 6 years = £1603.68 so I’m estimating around £4900 redress. Just waiting to hear from them now. I’ve explained my situation which is that I’m a recovering cancer patient. I hope the priority speeds things up. Any one else in the same boat.
Sara (Debt Camel) says
if they haven’t upheld the first loan, look out for a line saying “unpaid interest”.
Amigo invested this a few weeks ago – FOS has never said it’s OK, Amigo never did it before, no other lender does…
Are you being treated as a priority case at FOS? If you are, let them know if you have this line and object to it – they may be able to pick your case up fast as they already have the case file.
Frogman says
We will send you a separate letter detailing the breakdown of your redress amount and confirm any outstanding balance or refund amount no later than five working days after 23/07/2020.
For those that have already received their figures, Did Amigo keep to this promise? Thanks very much.
Laura says
Yes had my redress figures yesterday and Accepted yesterday same date as you 23rd July up to 5 working days after. So hopefully payout Soon no date given to receive the redress I did ask but no reply
Jason says
Mine went over by a day and accepted my figures on the 21st and havent had a payment yet with all my timescales they have gone over os i recon ill get my payment on the 20th working day minimum.
frogman says
Thanks very much Jason, Hopefully, I’ll hear from them before the end of the week. They haven’t paid my guarantor either, she accepted on the same day – 9th.
Dan says
Accepted on 29th June payment gone in today! £3900
Big thanks to Sara and this page for giving me hope it has been very informative and helpful also.
Best of luck to everyone still claiming there is hope honestly!
I am going to make a donation to citizens advice not only because of this page but because they do deserve it.
Evan says
Hi Sara,
I have had a response from amigo and they have stated they will redress me my intrest paid along with removing any effects it had on my credit file. I rang them they ask for my account details and said it can take up to 15 working days for the payment to be done. Is there a chance that they will go into administration between this time and if so is it unlikely that I will get the same amount as promised? Lastly, how likely are they to delay this timeframe from this point when I have accepted the complaint response? Thank you!
Sara (Debt Camel) says
Is there a chance that they will go into administration between this time
It’s possible, it doesn’t seem likely though as they have a lot of money in the bank.
and if so is it unlikely that I will get the same amount as promised?
No, if they go into administration you may only get a small percentage after a very long while.
Lastly, how likely are they to delay this timeframe from this point when I have accepted the complaint response?
Some payments do seem to get held up, others are made within the timescale or at the end. It seems very random.
Evan says
Thank you Sara! I’m just wondering why timescales would differ from the point they have made the calculation and asked for my new account details. I’ve been told 15 working days however it seems some people may have been told less, any reason why that might be? Thank you again
Sara (Debt Camel) says
They are trying to sort a large number of complaints very fast. It’s like allocated to a queue in airport immigration control. You have no control over how fast your queue goes and asking people who are probably in other queues how long it took them doesn’t help you much :(
Stephen says
If it helps, I accepted the refund figured on the 15 June, was told 15 days till I get the refund, after 5 more phone calls was told I’d be paid today… and no surprise still no refund. Amigo seen to make up random days just to get you off the phone 😠
Pablo Moles says
Hi! Just a quick question I received my email on the 18th June saying my redress is upheld and I will be paid. I’m still waiting for these fabled redress figures .. so over 6 weeks now .. is this normal ? I’ve phoned them every week to get updates but they have no updates on it. Thanks.
Sophie says
Hey Pablo, im the same! Did your account end up with Intrum by any chance? Mine did, because me & my garantor stopped payments and that is why mine is so delayed. Mine was 6 weeks last Monday. I know there is someone who is on nearly 8 weeks on this thread too! Id love to know how they organise their redress calculation queue. Hope you get it soon!
Pablo Moles says
Hi Sophie, no mine stayed with Amigo and not a third party. I actually just had my figures confirmed today after 5pm! I did phone and wrote an email although not sure if either of those made a difference ! I’ll accept tomorrow and the third part of the waiting game.. fingers crossed for you and I truly hope you get yours soon !
Brandon C says
H ithere ,
FOS have had my guarantors complaint since February amigo haven’t issued final response first got them to place complaint in December adjucator gave them deadline after deadline they have turned around and said due to high volume they are struggling to meet deadlines where does the FOS go when they have been given final 7 days that was up yesterday ?
Absolutely a joke if you owed them money they hound you for it
Cheryl says
Hi my claims was upheld and I accepted redress on 10th July,
I was told it could take 15 days for refund to be paid,
I still havent been paid,
will my online amigo account change when it’s due to be paid even though the loan was paid off?
so my account at the moment says loan is settled and closed will it change at all when im being paid,
im really stressing out over this refund
Ross says
I am in same position
Cheryl says
I dont understand why it’s taking so long when others are paid within a few days, it’s so frustrating I’m checking my account all the time
Kirsten says
Hi, I put my compliant in to Amigo on the 5th July, it was acknowledged a couple of days later and I received my SAR today. How long after this does it normally take to know if I’ll be eligible for a refund? Thanks :-)
Sara (Debt Camel) says
At the moment some people hear about 10-12 weeks from when they put the complaint in. Others take longer.
Siobhan says
My Amigo complaint has been with FOS since April 2019, this was after Amigo rejected my claim. It’s very much how long is a piece of string. Some people get an answer in a few weeks, some unlucky ones are still waiting 18 months down the line
Rob says
Update, So I had 2 Loans upheld (Most Recent) and 2 not upheld,
Finally got my redress figures through today, they have charged me £723.21 unpaid interest for my first 2 loans,
I’ve emailed them and called to question this, informed them that it is against their own terms and conditions to charge interest on an account that is already closed and settled, additionally they have been made aware that in their own email to me on their conclusion that they classed my second load as being affordable due to matching my details on the ONS database? which left me £100 to play with in a month? Even though I had financial hardship and also I had a gambling addiction, Will be interesting to see what their response is, due to call me in the next 20 minutes supposedly…… will keep you updated, week 19 currently.
Andrea says
Rob have you heard back? This is exactly what they said to me? About having £100 left a month etc?
Terry says
We put our compliant in on 3rd of May and today have a complaint response saying they are upholding the affordability complaint and a redress will follow!!! Mostly pleased but am sure we are in for a wait for the redress figures.
Liam says
Just a quick question for this who have had complain upheld and money paid to them.. how long does it take for amigo to remove all of the information from your credit file?
Any answers would be helpful.
Thanks.
Charlotte says
Hi there,
Surprisingly, after waiting so long I’ve finally had a settlement offer from trust two whilst dealing with the FOS. Although I have been advised it is in line with the advice from FOS, i am unsure whether this is true so looking for advice. My first loan with the company was for £3000 ran for 34 months, at 115.11 a month which i work out to equaling over the amount I borrowed – I have been told I didn’t pay off the entire loan but I have sent over my findings and asked how they got that figure.
My main confusion here, as the financial ombudsmen said this is correct – is that I’m only receiving 8% interest as a whole. Everywhere I have read has said simple interest, running from the time of the over payment until the refund. I haven’t yet accepted this offer as I just want to make sure everything is correct. This is exactly what was said to me when i asked about the settlement figure;
‘We would then expect them to add 8% of this total in interest, this is a one off 8% and not a running amount from when the loan was given’
Why is my case different to all the others I have read about, im really confused but this has been going on so long now.
Sara (Debt Camel) says
that’s wrong. it’s 8% per year. When was the loan settled?
Charlotte says
Ah ok so
Loan 1 was for £3000 (48 months) but ran for 33 months @ 115.11
Loan 2 was for £5400 (48 months) but I only had use of £4050 as the rest was used to consolidate the first loan. I’ve been paying £216.69 a month so far for 35 months.
The FOS and trust two have now agreed to uphold both loans on a basis of unaffordable lending – saying I only have to pay what I had use of. But trusttwo have told me I still I owe £416.31 on the first loan – which I can’t see how they’ve worked that out considering I didn’t miss a payment. This means they want to deduct this from my refund.
They have said the total overpayment is £3514.20, interest @ 8% £209.25 so total refund of £3723.45 – but minus the £41.85 deduction to HMRC and apparently £416.31 I owe them my TOTAL refund will be £3265.29
It’s taken over a year to get this far and trust two have constantly been refusing to respond to information to the FOS. I had to provide my adjudicator with this letter so they could check it was inline with the findings to be told yeah it’s correct.
I don’t really know how to go forward with this because I feel from the reply Im forced to take this offer otherwise I might not even be dealt with.
yes the redress will clear the balance either way so the loan will be finished when I accept an offer. Also, from my calculations and reflected by my credit record – 33 x £115.11 = £3798.63
I’m not sure where they’ve come up with £2583.69 – I have asked!
Sara (Debt Camel) says
On those figures I make it that you have paid 5145 to the first loan – 33 lots of 115 plus 1350 settlement from the top up. So as you borrowed 3000, that is interest paid of £2145.
On the second loan you have so far paid 35 lots of 216 = 7560. As you borrowed 5400, this is interest paid of £2160.
So overall you should have the balance cleared and a refund of £4305.
This is the important figure to get right. The 8% interest is very minor by comparison!
Charlotte says
Thank you, that’s more like what I was thinking. After I sent the settlement letter with trust twos findings as above, my adjudicator said it was inline with their recommendations however, I am unsure whether they would have checked the amounts paid etc at this stage.
As for the interest, are they correct in saying it’s just 8% of the refund. In the adjudicators findings they stated 8% simple interest, which I thought was for every year. Maybe I am wrong but I haven’t had any responses to my questions yet to either the FOS or trust two.
Charlotte says
One other point, as the FOS has said I only should have to pay what I had use of, where does the £1350 from my top up – which I never had use of come into this? I feel like this may be where mine or their calculations are wrong.
Sara (Debt Camel) says
you did have use of that 1350 – it was used to settle the first loan. which is why I have included that amount in the interest calaulation for the first loan above.
Charlotte says
They’ve claimed in their settlement letter I only had use of the £4069.95, the amount left after the first loan was consolidated.
As the adjudicator has agreed that their letter is fair, can I actually do anything about this?
Sara (Debt Camel) says
Ask for details of how they have calculated the interest on loan 1 and on loan two separately. That shopuld show up where the problem is.
Claire H says
I am absolutely over the moon after 26 weeks of waiting I got my redress from Amigo including figures, thank you so much Sara for all your advice over the last 6 months I will be making a donation to my local citizens advice bureau, I’ve called to accept and now just the wait for my money which should be in by the end of August thank you again
Fellowman says
Strange one….
I have been paid today, my redress. After waiting 8 weeks for figures. Strange thing is, i still haven’t received my figures, nor did I have to call to accept. The money has just been paid into my account. Minus what seems to be maybe the 8%.
Strange after waiting 9 months.
I have made a good donation to CAB and another debt charity. Thank you for this site. Great resource for all things finance related.
Sara (Debt Camel) says
Bizarre – but all’s well that ends well if you are happy with the amount received!
Sophie says
Hey Fellowman! Im so pleased for you!!! Congrats! Had you already sent them your bank details? Also, hope you don’t mind me asking, was your account passed to Intrum at all? Well done again!
Ross says
What stage are you at Sophie i have accepted given bank details just waiting now slow
process.
Fellowman says
Hi sophie.
No intrim. My account was already settled in January this year, paid n up to date. It was upheld via FOS. 3rd june. 8 weeks waiting for figures. No figures yet, but my online statement changed last night to show a refund at the top.
They had my bank details on file and when chasing i did say they hadn’t changed.
My advice is to keep politely chasing it. Pressure FOS to do the same. I pushed for payment rather than figures when chasing it. Goodluck. Hopefully soon
Ross says
Great news who was your your contact to pressure them was it by email?
Thanks
Ross
Kay says
Hi Sara, I just wanted to thank you. I put in an affordability complaint in January that was not upheld and I was advised that they had done nothing wrong. Then COVID happened and I literally forgot about it and all my intentions to take it to the FOS. However, this week I had an email stating that they had re-visited my complaint and have removed the £4030 interest from my loan (I had a top up) and I now have a final balance for £490 to settle, which will be paid in full in 3 months time as opposed to 2023! I can’t thank you enough! I only ever wanted them to remove the interest and am not due any redress but I am literally so over the moon! I finally feel like a weight has been lifted and I can now put that towards snowballing other debts in hopes that I can be debt free by the end of next year! I really am grateful!!
Sean says
I have an a response saying that the loan was affordable, and the are not upholding my complaint is that normall process now, so I should send to the Ombudsman and do you think I still have a chance
Sara (Debt Camel) says
When did you send your complaint to Amigo?
I assume you disagree and think Amigo should have been able to tell at the start of the loan that it would not be affordable for you?
Are you still paying this loan?
Sean says
I sent it 2 months ago so I have 6 days till I can send it to the obudsman, yes I am still repaying defo because after 4 months I had to go on a debt repayment plan
Sara (Debt Camel) says
OK so you can sent it to FOS immediately as Amigo have rejected it. The article above explains how to do this.
sean says
ok thanks again, i have done my claim through resolver but nothing rejection from amigo not showing in my resolver account yet should i wait or should i proceed myself
Sara (Debt Camel) says
Resolver is technically a claims company, but they don’t charge you any money and so my guess is they won’t mind if you choose to send the case to FOS yourself.
Some people like carrying on through Resolver as it keeps all the correspondence in one place – it’s up to you,
Although as Amigo have replied directly to you not via Resolver, it doesn’t seem to be helping.
Amy says
Hi, I put a letter of complaint into amigo about them giving me a guarantor loan when they shouldn’t have.
I always paid but I changed the dates regularly in order to get the money in the bank. I was taking out payday loans to pay this loan and had outstanding payday loans when I took out this loan as well as problem gambling at the time. If they had taken a look at my bank statements they would’ve seen this.
Anyway my case was dismissed by amigo a good 14weeks later and I took it to an ombudsman 8 weeks in.
I have had one email from the ombudsman asking if I agree to terms and for them to contact me which I replied yes I was happy to help anyway I could. This was back in February and I haven’t heard anything since?
Does anyone know how long they are taking?
I have a child on DLA, I’m a single parent and currently out of self employed work due to Covid would this qualify me to be prioritised also?
Thank you for any help
Sara (Debt Camel) says
I have had one email from the ombudsman asking if I agree to terms and for them to contact me
For FOS to contact you or for Amigo to contact you?
Are you still paying this debt?
darren says
Hi Sara
Would like to say big thanks as have been following this site for the last 6 months or so finally had my redress of £8195 at 6.10pm I accepted on 6th July they promised payment by 27th July so only few days late so that’s all my pay days loans sorted I wish everybody else all the success be patient it will happen
Sophie says
Congrats! I also accepted on 6th July and am still waiting? Apparently 6th July was a busy day for redress! Ive been told Friday, Monday, Friday, Monday for the last 3 weeks, then today, but still nothing. Anyone else from 6th July still waiting? Thanks x
Rhiannon says
Hello. Does anyone know how to claim the tax back please? I’ve tried looking through the comments but can’t find it. Thank you
Sara (Debt Camel) says
see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Stacey says
So I have had my response today and Amigo have rejected my complaint on all 3 loans . I submitted my complaint on the 3rd of May 2020. To say I am disappointed is an understatement, they have said that after checking all information and income check by credit reference agency (which I have never heard of before) I was able to afford all loans. the only thing is they have kind of shot them self In the foot as in the response they have said my income jumped up by over £1200 in under a month to qualify for 1st top up after only making one payment on original loan? News to me I wish 😁 they also said I was not in arrears or default with any priority debts which still on my credit file I have ccj for water, defaults on gas and electricity. Arrests on council tax and at the time of first and second loan I have rent arrears. They also said that as my guarantor has never made a payment on my behalf it shows I was not struggling to make the payments 😂😂 what a crock of ****. Thank god I sent to FOS 5 weeks ago I am going to email now with email of rejection and my response I sent back highlighting there errors. I have asked for my SAR information to be sent by post rather than online as I have learning needs and I am suffering so much anxiety trying to make sense of accessing my info as I feel I need this to send to FOS as I know if credit files where checked back then there was way more default accounts than there is now.
On to the next stage I go 😬
Simon says
Your SAR wont really matter because Amigo will have to send Business file with all your info to FOS when they get round to it. You would be better off getting all your bank statements ready in preparation. Dont panic about accessing your info on SAR it isnt worth your anxiety getting worse over.
Stacey says
That’s great as I have been really panicked that I could not access it properly. I have asked Amigo to reconsider their decision and I have sent all bank statements (which I only got in post today the irony 😀) I have highlighted all my wage payments as if they had asked for proof of income they would have seen it was unaffordable but they never asked for it And it is way off what they have told me it was.
Thanks for your advise 👍
Louise says
I used the templates provided and followed the advice given on behalf of a friend, who has an Amigo loan with a guarantor.
After a long wait, Amigo replied to this complaint and accepted that the loan was unaffordable, released the guarantor and offered to refund the guarantor and removed all of the interest from the loan.
The guarantor had previously went to the citizens advice and created a financial statement offering to make lower repayments to Amigo and this was rejected by them, outlining she could afford to pay the full £97 a month so having her released was great news,
Thanks
Chris says
Hi, I am wondering if any others have had their claim escalated to the Ombudsman after Amigo rejecting the adjudicators findings?
If so how long until it is picked up for a final ruling?
James says
Hi Sara,
Another thought came into my mind, the term on my loans were 12 or 24 months depending on the amounts.
So I was paying between 450 or 550 per month depending on the loan amount, can amigo refuse your claim by saying you should have took it over a longer term.
Also how are they when your claim was not affordable due to gambling, is this another reason they can reject a claim. I had lots of other debts but tbh nothing was being paid due to gambling.
All hyperetical but it was just something that came to mind
Thanks
Sara (Debt Camel) says
No they can’t say it was your fault as you should have borrowed over a longer term. They should have noticed when you applied!
A lot of people have won cases with gambling. If you havent Already sent Amigo your bank statements, send them, as they support you case that the loan was unaffordable and that if Amigo had looked in detail, they Wouk never gave given it to you.
James says
Thanks Sara,
Appreciate all your help.
Sara (Debt Camel) says
Typo, I wrote “They can say“, it should have been “can’t” !
Dan says
Hi
I don’t know if my case will be valid. I took out a loan 2 years ago (still paying) my financial situation was fine however after 12 months it had gotten really worse. I was taking out other loans too for different loan lenders and one of them which is paid now I had to lower the monthly payments. Before I took a top up from amigo I just had a really bad habit of spending however they still agreed on the top up after 12months.
Sara (Debt Camel) says
If your finances had got noticeably worse by the time you applied for a top up, and the top up loan would cost you more a month, that is a pretty good sign that the top-up loan may not have been affordable!
But what about your first loan? Was that affordable. You said:
I took out a loan 2 years ago (still paying) my financial situation was fine however after 12 months it had gotten really worse.
Obviously I don’t know anything about your situation except what you have just written, so let me write about two general cases so you can think which applies to you. I am assuming the lender is Amigo but the same applies to all guarantor lenders.
Case 1 – something went badly wrong after you took the loan
Here the loan was fine and you were repaying without difficulty. You weren’t having to borrow more or get behind with bills. Then something happened – your hours were cut, you split up from your partner, your business declined, you developed a new gambling habit …
Here it isn’t Amigo’s fault. They couldn’t be expected to predict this. If they had looked at your finances in great detail when you applied they would have reasonably decided the loan was affordable.
Case 2 – the Amigo loan caused your later problems
Here is may have felt as though the loan was affordable for a few months but then thing got more and more difficult. This may have happened because your expenses you put on your application were too low as they didn’t allow for the odd things that always happen over a period of years. You thought about petrol and car insurance but didn’t allow enough for new tyres. Your washing machine has broken and you didn’t have anything in your budget for household costs. You didn’t think to put anything in for dental costs or Christmas. perhaps you just guessed at a groceries figure and it turned out to be too low.
Here if Amigo had looked at your budget and your actual expenses on your bank statements, they would probably have realised the loan was unaffordable.
So I don’t know if the first loan was actually affordable or not. In this case I suggest you send in a complaint about both loans.
If Amigo rejects it, ask the Ombudsman to look at the details of your case. It’s in Amigo’s interest to pay out as little as possible, so you can’t rely on their assessment of your case – 90% of cases are being won at the ombudsman which suggests that Amigo is getting a lot of this wrong!
Sara Lou says
hi Amigo upheld my complaint back in November 2019 they said i still owed them 2450 after the redress. But never heard anything about after i declined their request to pay £200 a month.
Today they have tried to take £200 from my bank via direct debit?
one i haven’t a clue as ive not agreed to any direct debit.
Two I’ve had no letter or email via resolver which is how I requested all correspondence.
are they legally allowed to do this?
The last communication from them was December 2019. Luckily I have not got that amount of funds and it was rejected.
But if there where then I would have been £200 out of pocket.
csn you help Sarah please
thanks
Sara lou
Sara (Debt Camel) says
It’s a shame you didn’t cancel the DD – do that now!
I think it’s best for you to talk direct to amigo now, going through resolver after your complaint has finished seems pointless.
I know from your other comments that your household finances are currently affected by Covid-19. I suggest you tell Amigo this and that you are unable to pay anything as you have priority debts that you are unable to pay.
Becky says
Hi Sara,
I used your template and submitted a complaint to Amigo back in January, thank you so much for allowing us to use it. Finally had it agreed on the 22nd July, some six months later. I’ve had no redress figures yet but they’ve said all interest removed, a refund of payments made in excess of capital amount plus 8%. Can anyone help me out with what I can expect to receive please?
The capital amount of the loan was £7,000. I’ve paid £10,186.22 interest charges through the loan and the interest was paid off, I’ve now been eating into the actual loan amount. I have a balance outstanding of £4,122.
Am I right in thinking I’ll be refunded £10,186.22 with the balance of £4,122 deducted, plus 8%?
Sara (Debt Camel) says
How much have you paid them, just the cash amount, ignore if it’s labelled as interest or principal?
Becky says
I’ve just calculated that I’ve paid £12,756.25 to them so far.
Sara (Debt Camel) says
In that case you have paid £5756 more than you borrowed (£7000). So the balance should wiped and you should get a cash refund of 5756 plus some 8% interest,
Amigo do a much more compplicated calulcation along the lines you were saying. My simple approach is easier because:
– it automatically takes into account any extra fees or charges Amigo added on that are not “interest” and includes those as they too should be refunded
– Amigo’s statements can be very confusing to try to extract figures from. Following the cash is simpler.
Becky says
Thank you so much. Such a relief, I was worried they would try and say we’ll write the balance off and then call it quits. Thanks so much for all your help, if it wasn’t for this forum I would never have put the claim in. So grateful.
Tel says
Received this today, I have been chasing them down as this loan was taken out in 2013 and all we had was problems with communication, think I’m finally getting on their nerves.
Had it Confirmed yesterday that my complaint was being upheld.
Day 0 – when we issued our Final Response to you and a redress offer to your guarantor. This is what we call Day 0.
Days 0 – 14 – This is the time we allow for the guarantor to accept or decline the redress offer. Once day 14 has passed, the offer expires and we move on to the next phase.
Days 15 – 20 – This is after the guarantors redress offer has expired and we will work out your redress from the response they have given. Please note if a guarantor was to reply on day 0, for example, we would have to wait for the offer to expire in any case they change their mind or have any further questions to ask. .
Days 20 – 35 – This is the time frame we allow for you to respond to your redress offer and for us to issue our refunds/redress’, as what would be stated on the final redress letter.
Hope this makes sense. Please let me know if you need any further assistance.
Kind regards
Customer Relations
Amigo Loans
frogman says
Thanks very much for sharing this Tel,
Just wondering when a guarantor that is due a refund paid? Would this be between day 20-35 as well or before?
Maybe some who have gone through this would share their experience. I have gone past my 15-20 days and still no figures.
Thanks
Tel says
I think they mean that everything should be settled and paid including guarentor. But I am feeling they are playing for time as my guarentor has told them they do not want a refund and to just get on with paying out to me and they are insisting that they can’t even give me redress figures until day 15 regardless of what my guarentor says. I’ve emailed the FCA and I’m ringing them tomorrow too as I feel that Amigo are wrong to drag the process out in this way when there is no need. They put 3k of fees on our loan for a change of payment date so robbed us blind and even on agreeing that our complaint is being upheld they still don’t want to cough up.
simon says
I had same letter !
I originally sent claim in on March 10 this year and had my sar report in May, then email on june 12 saying my claim is being upheld ( happy days ) and also stated that my figures would come no later than 5 working days after the 26 june
My gaurantor ( my mother ) recieved a letter also on 12 June with her figures which she excepted the same day .
After 2 weeks of waiting my mother phoned them back as she had no payment and was told that she wouldn’t be paid until my figures arrive and excepted!
On July 7 I had that letter above as an email stating that everything would be sorted in 35 days ! Total rubbish in my situation as of today july 31 my mother still hasn’t had any payment neither have I had any figures !
I have taken to emailing every day with how long this is taking and phoning hoping to annoy them into producing my figures so both me and gaurantor would get paid !
Seems to have worked as today August 4 I have had email with apologies and my figures which I excepted but was then told it could take upto 20 working days for the payment ,so should get it by September lol
Sophie says
Buddy loans didnt agree with adjudicator as expected. It’s now in the queue for the ombudsman :)
L says
Hi Sara
So my mum finally got her figures on Monday and they’ve charged her over £4500 unpaid interest on the first non upheld loan. She emailed to complain about it and they got back to her saying that it is because it’s a separate credit agreement? Which i don’t really understand as she took that loan out in the March for £6500 and then just topped it up once in July then again in the September. I have enough coming back to me to be able to pay off what they are saying she’s due so she doesn’t have to make anymore payments.
How do we now send this complaint about unpaid interest to the FOS? Does she phone amigo today to say she’s taking the unpaid interest part to FOS? Should they still change her account and refund me?
Many thanks
Sara (Debt Camel) says
yes you should still be paid and you should be released as guarantor.
So how much do Amigo now say your mum owes? Could you copy out the numbers (like John did here https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-49/#comment-377786)?
L says
These were the figures she got.
Total interest- £11,302.37
8%- £0
Unpaid interest-£4347.07
Fees/charges -£0
Total payable-£6,955.30
Previous loan amount-£7,701.78
Guarantor refund-£8915.75
New balance less redress-£9662.23
Her loan was £6500 in March 2017, topped up to £8500 in July 2017 and then topped up to £10,000 in September 2017. Been paying £395.25 a month since then.
Thanks
Sara (Debt Camel) says
OK so I suggest she sends her complaint to the Ombudsman straight away, if she hasn’t already done this.
She has two things to complaint about.
First that the original was decided to be affordable, when it wasn’t and this caused her to need the top up.
Second that they are deducting this huge amount for unpaid interest.
There could be a third reason – she could also complain that Amigo repaying the guarantor has left her worse off than before she complained if she thinks this is unfair. But she may be happy with you getting the refund, in which case no need to add that.
Now you are no longer the guarantor, she should cancel her DD to Amigo and offer them an affordable monthly amount. Does she have other debts as well?
L says
Ok that’s great I’ll get her to complain to the onbudsman now. I think this is pretty much the last debt she has to pay. She had been with provident for years so I’ve told her to complain to them too, they were always persuading her to take out another loan when she would be almost finished paying the previous one off.
Thanks again
Audrey says
Hi Sara stu has just received an offer from amigo. £17.749.15 plus any additional interest that accrues prior to accepting offer. In the email it has the following
total interest £16.760.02
8%simple interest after tax deduction is £989.13 20%basic rate tax deduction on 8%simple interest £247.27.
Total redress payable £17.749.15
current loan balance £9.221.80
balance less redress £000.
Cash refund £8.527.35 have removed guarantor liability for loan agreements.
They said he could go to Fos if he didn’t agree.all this would mean he will be finished with amigo is that correct. ?
Sara (Debt Camel) says
That must be a huge relief for you!
Can I check that Amigo are refunding the original loan and the top up?
Livelylou says
Hi there,
I’ve made an affordability claim to Amigo, which I’m terrified they won’t uphold, even though I topped up four times, only months apart. However, I had a loan with Amigo, which I took out in 2011, and in 2014 after two missed payments they threatened my guarantor with court and they had to pay it off.
At the time, I also had two other loans, like Amigo: CreditUK, and another one. I was not in a good place financially and wonder if these can be claimed, too?
Thank you!
Sara (Debt Camel) says
did you repay your guarantor for that early loan? Are you still on good terms?
when did you take out the Amigo loan that has been topped up 4 times?
The rules are the same for all lenders, Amigo is much the biggest so is most often mentioned but you can make similar complaints to UKCredit if you feel they gave you a loan that was unaffordable.
Cheryl says
31st july still no refund, told this morning they are behind schedule so I have to wait another week, that will be 20 days not the 15 days they told me
Daniel says
Hi there,
I’ve just received an email offering of £8500 in compensation, they have said payment could take 15-20 working days but there are delays? Is this normal practice?
Are we confident amigo will be trading in that time to make payment?
Thanks so much again and I’ve got my fingers crossed.
K says
Hi Sara. I sent my complaint only this week which has been acknowledged by Amigo. Iv topped up 4 times and i dont beleive ive ever given them proof of income. Also i dont think i correctly completed the expenditure form. Will this go against me as i should have really given real figures. To be honest i lowered everything to make me look more eligible. Will i be penilised for this or does it show their neglect for not checking? Thank you
Sara (Debt Camel) says
If you have had 4 top ups, then I think Maigo should have been thinking that there was obviously something wrong and looked in detail at your situation.
And in many cases, because these loans are so large and serious, and because the borrower has had problems with credit in the past, the Ombudsman says that Amigo should have verified your income & expenses properly from the first loan.
Good luck with your complaint!
K says
Thank you. My credit on my first application was shocking. Late payments, defaults, behind with Council Tax, Utilities etc. Fingers crossed they accept it was given to me neglectfully. I shall keep updating this thread. Thanks so much for the information and guidance to do this.
Steve says
I’ve had 8/9 claims upheld. They said I would get my calculations by no later than the 15th of July. I’ve still heard nothing and starting to worry I’m slipping through the net. Every time I ring they say next couple of days but it never comes.
Kerry says
Hi Sara I sent my affordability complaint on the 10th of June. I received 2 emails from amigo since then, one to say they acknowledge the complaint and a second one saying they still looking in to it. I haven’t received the SAR I asked for. It will 8 weeks on the 5th of this month. So the question is what to do I do now and where do I go from here.
Many thanks kerry
Sarah says
I did mine the same day, I have received nothing from Amigo not even an aknowledgement of my affordability complaint. Not sure if I should send again
George says
Hi Sara,
Can you please clarify the dates that are taken into consideration for the 8% calculation.
I have an offer but not sure if it’s correct.
Sara (Debt Camel) says
who is the lender, what is the offer and the dates?
George says
You took this loan on 22nd February 2018. You borrowed £1,000 which you had full use of. As this loan has been found to be unaffordable for you at the time it was approved, we would require you to pay back the amount you borrowed with no interest. To date you have paid a total of £1,236.12. You have therefore paid £236.12 more than the amount borrowed. We would now refund this amount plus 8% statutory interest.
Please see below calculations: Payments made over £1,000: Interest @ 8%:
Total Refund*:
£236.12
£29.78 (This is subject to 20% HMRC tax deduction)
£265.90
It’s Georgebanco this was sent on 24th July
Thanks
Sara (Debt Camel) says
So the 8% should be from when you made the excess interest payments. It doesn’t look very wrong to me. The refund is small and the loan is recent so it’s a small amount, is this worth arguing over?
Tdog says
Hi I put a complaint in against tfs loans last year which was unsuccessful I sent it straight to the FOS which was at the beginning of October last year to which It has not been looked into by an adjudicator. I’m just wondering has anybody else waited this long as most seem to be getting dealt with a lot faster than mine
Andrea says
Give the ombudsman a call or email, and see what’s going on, that does seem like a very long time.
Someone said the other day the ombudsman was looking at claims from March.
Mines March for TFS but not heard anything yet.
Siobhan says
Mine has been with FOS since April 2019, they have only recently got in touch
River says
Hi
My complaint with TFS has been with the FOS since late last year, it was picked up the end of May. The adjudicator upheld my complaint and gave TFS to the 15th July to accept or refuse. It is now currently still with TFS who had asked for more information before deciding.
Sarah H says
Hi,
I put my affordibilty complaint in on 10th July, I have not had a response at all from Amigo to even say it has been received.
I had my first loan may 2018 £6500 – £256.19mth
Top up loan July 2019 £7700 – £378.12mth
Top up loan June 2019 £13.750 – £588.16mth
I have been late on a few payments on all 3 and my sister who’s my guarantor has paid for me once and I don’t have a good credit score at all.
Not sure what to expect, I’m sure I will still owe an amount if it is looked at, should I re send the email in the hope of getting an acknowledgment from them?
Thanks
Sarah
Sara (Debt Camel) says
I am surprised you haven’t had an acknowledgement. I suggest you phone them up and ask them to confirm they have your complaint.
Shelby says
Hi Sara , you know the tax they take I had £157 deducted can you claim that back ? I don’t understand it tbh
Thank you
Sara (Debt Camel) says
see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/ for tax reclaims.
Shelby says
Hi Sara I’ve been looking through and if people have taken out £5000 for example and all there loans are upheld theve has intreast taken off and the balance which is £5000 , I had 1 loan and one top up when they upheld all loans it said they were deducting £6985 but the loan was actually £6500 ? Have they done this wrong ? And the tax ? Do we claim that back ? Xx
Sara (Debt Camel) says
if you could answer my question here https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-49/#comment-377824 I could say roughly what should be happening in your case.
laura says
see with amigo loans does your guarantor know you have made a complaint if they have never msde a payment for you
Sara (Debt Camel) says
Your guarantor won’t be told about your complaint unless you win it when they will be told that they are being released as guarantor.
laura says
ok they have never msde a payment and loans paid off so wasnt sure how it worked
sabia says
Hi Sara, thank you for this site. I put in numerous amount of complaints to payday lenders and guarantor loans. Some have been upheld and some haven’t but I can already see changes to my credit file which is great. Trusttwo have now upheld both my loans after rejecting it as I sent more information to prove this was unaffordable. I am just awaiting redress figures now and £400 better off every month. Now just waiting on Amigo but looking at comments I could be waiting a while. This site as helped soo much
Tel says
I just had my trusttwo one refused though I struggle to see why…. Can I ask what extra information you provided them with if you don’t mind?
sabia says
They assumed as I lived with parents I didn’t pay rent etc but my statements proved otherwise. I provided them statements 3 months prior to each loan to show the amount of debt companies I was paying and still getting payday loans. I also provided some background information about my mental state too. Tbh I was very surprised that they witheld as the comments on here show most people go to FOS
Sara (Debt Camel) says
Everyone should provide bank statements with their complaint if they have them – they support your argument that the loan was unaffordable. This applies to all lenders.
Tel says
Thanks that really helps. I can show on mine that I had car loan, amigo loan, provident, morsels, council tax arrears, water arrears, 2 ccjs being paid, various credit cards and they ate up most of my income… It was a stupid move to take another loan but we were desperate to move out of the area and for some reason though it was a good idea to do this. Biggest regret ever. I’m on the bank statements now… Let’s hope they make a difference
Sara (Debt Camel) says
Have you looked at refunds from Provident and Morses? https://debtcamel.co.uk/refund-doorstep-loans/
Tel says
Would you censor the bank statements for payments that are not debts just usual payments or send them totally as they are? Sorry for all the questions just desperate to be rid of them. Thanks
Sara (Debt Camel) says
Send them as they are, the whole point is that you are being completely open about your situation.
Tel says
OK shall do that today. I am looking at provident and moses too purely to get them off my credit record… Morses is paid and done but the provident is still running. Thanks for your help. If I can shake this lot it will make a huge difference. Just hoping the FCA will help me today with Amigo situation, they are an awful company to deal with.
Sara (Debt Camel) says
If you currently owe Provident money, you can always get this reduced to an affordable amount. And if you have been borrowing from them a while, the refunds from doorstep loans can sometimes be very large! Good luck.
Audrey says
Hi Sara Stu is goingto phone amigo today to accept offer. It also says in the email that they will release his guarantor. Don’t know why he has to pay £247 tax on it but I suppose the offer is a good one .didnt take long at all. I will update you when we receive funds thank you so much
Sara (Debt Camel) says
See https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/ for the tax. If he is a basic rate tax paayer he can probably claim £200 back from HMRC. If he is a non taxpayer he can claim it all back!
Jemma says
Hi. I had a loan with TFS this was paid off this year. It was definitely unaffordable, I had a loan with amigo and several payday loans. I have sent my complaint but the emailed back declining it as its just over 6 years old. The loan was over a 6 year period to pay. 😒 can I take this to FOS?
Sara (Debt Camel) says
FOS usually decides that it can look at at “over 6 year” cases if you have only recently found out you can complain. So yes, send the TFS complaint to FOS. And have you also complained about the Amigo loan?
Jemma says
Yes amigo have emailed today about the complaint process. Thank you i will send TFS to FOS
L1991 says
Has anyone had a positive outcome with TFS without it going to FOS? I’m at week 13 with them now, I did send to FOS at week 8, but they just keep adding a few days on each time I chase. I’ve seen a lot get an instant rejection due to being over 6 years. Mine isn’t 6 years but the time they’re taking is making me anxious.
Sara could you quickly help with calculations please if you have a few mins?
£7500 borrowed in dec 2016. Received £6,449.66 (Top up)
27x £234.55
1x £4921.55 in March 2019
Amigo upheld and paid out for Loan in same period, obviously it doesn’t mean TFS will uphold but I was in a seriously bad way financially at that point. Guarantor didn’t make any payments direct to TFS but paid me the money to give them in time for repayment dates. I then borrowed the money off guarantor in order to repay loan early.
Thanks
Sara (Debt Camel) says
when did you get the top up loan? how large was this loan? were the 27 payments to the first loan or the top up or split between them? Was the loan settled in march 2019?
L1991 says
I got the top up loan in December 2016.
This was the £7500 loan, the first loan was approx £5k from 2014 but I can’t remember the monthly repayments and can’t find any paperwork on it. My complaint is on the top up loan really.
So I borrowed £7500, actually received £6499.66. The 27x £234.55 and the bulk payment was all against this £7500 loan. Then paid off in full March 2019
Thanks
Simon says
Yes I sid at start of the year. Theu were only company that actually acted as you would expect around a complaint. Lady emailed me for further info after 3 days and 2 weeks later they admitted had they made more thorough checks they wouldn’t have issued loan. My bank statements showed gambling transactions way above my salary.
L1991 says
Hi Simon. Thanks for your reply. Could I just ask was their final response sent via email or letter? And how quick were they at paying out after they upheld?
Simon says
They sent it by post. As they took interest off my remaining balance I just had to contact them with an affordable plan. They were very swift but I’d imagine as time has gone on that more people are now complaining about many companies.
Harriet says
How long roughly are people receiving refunds after the guarantor has made a decision and you have Accepted a redress amount? They said 20days just wondered if it’s accurate? Thanks
Lk says
I would also like to know. I’ve been told 15, so the whole process will have taken just over 2 months since offered a redress.
Cheryl says
I was told 15 days on 10th july, I still havent been paid out yet
Lk says
Have you rang them?
Cheryl says
Yes I’ve rang them a few times, they have now said they are running behind so they now hope to pay out to me on friday which will be 20 days
Tal says
We have just been told 35 now after first being told 25… In fact the whole timeline we were sent was completely pulled apart in our phone call to their complaints department today.
Lk says
It does seem to keep changing. Someone else accepted the same day I did and have had their payment already. First put the complaint in Feb, redress offer June, guarantor accepted same day, got my figures Friday and accepted straight away. I’m hoping they payout this week.