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
victoria says
Hi
I was also wondering if peoples account were showed as closed before payment was made? Thanks
Don says
Not sure if this has happened to anyone else but my guarantor has told Amigo she doesn’t want the refund as I had paid her back; they’ve told her they can only refund the money to her and not to me. It was only for two payments so we’re not talking thousands either.
The loan is long finished and paid over 6 years ago so there’s no issues with outstanding balance etc. Has anyone else had this or have other people been paid the money when in these circumstances?
Sara (Debt Camel) says
they’ve told her they can only refund the money to her and not to me.
This may be a sort of miscommunication.
You can argue with them or it may be simpler to get the money paid to the guarantor who can then pay it to you.
Carla says
My complaint has been with a complaint handler for over two weeks and still not heard anything should I send to fos or will this delay it longer
Kyle says
Takes just as long if not longer with FO. I sent mine off to them about 2/3 months back, they put me on priority and have only now said they are asking Amigo for information. It’s a bit lucky dip to be honest, I’m on my 8th month of waiting with Amigo to give me a final response, and it seems many are seeing a fast response so I have no idea what’s going on there. So either way it may take long to be fair. I just wish this could all be over, I’m a very patient person but 8 months is taking the biscuit. 🙄. Anyone have any advice on speeding things up?
Andrea says
Is this Amigo? If so don’t believe a word they say, mine was “ we are just working out your figures” that was 4 weeks ago,
They will say anything to buy them selves some more time.
How long have you waited?
Carla says
I’m on week 16 now seen someone say they are going bust to
Sara (Debt Camel) says
I would definitely send it to FOS!
Sara (Debt Camel) says
how long has your complaint been with Amigo?
Sending it to FOS is unlikely to speed up or delay getting a response from Amigo. But if the Amigo response is a rejection of a poor offer, then you already have a complaint in at FOS so you just tell FOS that you are rejceting Amigo’s offer.
Someone Thankful says
Read this article last October. Started an affordability complaint with Tfs loans. They rejected my complaint after their onvestigation. I took my complaint to the financial ombudsman. Glad to say that my complaint was upheld and I’m awaiting my refund back from the lender.
Cant thank you enough for the advice on here Sara.
Chris says
Had a rejection to my complaint with Bamboo, so I’ll now be sending that to FOS as I disagree with their reasons for the decision.
Amigo haven’t yet responded and it’ll be 8 weeks since I sent the complaint on 5th August. They haven’t sent my SAR either. How important is it to get the SAR before sending the complaint to FOS? Is it worth the time chasing it up with Amigo or should I just send the complaint to FOS on 5th August, even without the SAR?
Sara (Debt Camel) says
Just send the complaint to FOS. And send Amigo a reminder that you g=haven’t had the SAR.
Jaz says
Hi Sara
I had my adjudicator favour me for Amigo Loans to refund all my interest and charges plus 8% statutory interest, The guarantor loan was taken out August 2012, my adjudicator today emailed me that their had a reply back from Amigo that they strongly disagree with what we have said. the adjudicator said that We will need to review their points as they sent us a lengthy document, say that the CCJ’s were historic and that you managed your account well, so they cannot accept they lent to me irresponsibly. I had 4 ccj’s at the time of the borrowing, which the adjudicator has confirmed on there investigation, now to their response the adjudicator has to review on what their have said and it will take some further time now to invest this. I was wondering how does this look now. Thanks Sara for your help and time.
Sara (Debt Camel) says
The FOS decision making process means both sides have an opportunity to comment on a decision and add further points for FOS to consider. If the adjudicator changes the decision, you can then go back and argue. When the adjudicator says this is their decision after listening to both sides, either you or Amigo can decide to reject if when it will go to be looked at by an Ombudsman. It’s can be a long process but it’s fair!
Laura Sparke says
How long after complaining to the FOS did people hear from them? Also, how did they contact you? I never answer numbers I don’t recognise due to debt collectors but don’t want to miss a call from the FOS so if anyone knows the number/area code they ring from?
Stacey says
Just tell them you want to be contacted by email or post only. They comply
Ian says
Here is my case:
I took a £5000 guarantor loan with Amigo in September 2019. I kinda paid half of it by now, but obviously my balance is still around £5000. I am more than sure that they didn’t carry out proper checks on me as:
– I have 2 unpaid CCJs
– I admit that I do have a gambling problem which could have been seen on my bank statements they never asked for
– I am already paying 4 different loans
– my credit score was terrible even before I took Amigo out
– my wages are never the same, sometimes less, sometimes more
Sara (Debt Camel) says
That sounds worth a complaint. The more recent the CCJs were the more they matter – if they were 5 years ago they are less relevant.
Send copies of your bank statements with your complaint so they can see the gambling problem – this supports your complaint.
Jase says
Sara,
Today i recieved a notice of Default from Amigo and it has my garuntors name on this notice aswell altho she was released from this loan agreement. I rang them up and they just said im sorry this should not have happened but this is not good enough. My guarantor cannot have a default against her name i was told specifically she has been released from the loan agreement. Is there anyway this can be sorted without my guarantor having to wait 3 months to this to be removed? My complaint was upheld in June, Redress accepted in July and just waiting on the refund.
Sara (Debt Camel) says
Unless Amigo had gone to court for a CCJ, this loan will never have appeared on your guarantor’s credit record. The Notice of Default you have received is nothing to do with credit records.
Jase says
Ok i will let her know this thank you!
Lk says
Can anybody tell me how long they waited to see their account balance change to minus after accepting?
Christopher Orourke says
Hi,
I accepted on the 24th July and mine changed to minus this morning. I’m trying to find out how long it takes to go into my bank from there ?
Ross says
Mine just went in 24 hrs later after amigi acc changed 🙃
Christopher says
Hi there,
Can anyone tell me once your amigo account has gone to a minus figure, how long does it take to go into your bank account?
Thanks
Cassie says
Mine was within 24hrs
Lk says
How long from accepting did you notice this change? Cheers
Christopher says
I accepted my figures on 24th july. I noticed it had changed this morning but on statement it says 3rd so must have been late last night as I was checking it once in morning and once at around 9pm regular since I accepted. Will let you know when I get funds in bank so you have a rough idea on time scales
my loan was settled and closed back in 2015.
Victoria says
I accepted on the 27th and its shows minus from 1030pm last night and my amigo account is closed and settled.
Says credit on 3rd of August on amigo statement which is less than my re-dress figure but the minis amount is correct and what I’m expecting. Hopefully this evening.
victoria says
I have been paid!!!! Thank u so much sara! Finally free of them!
Good luck everyone else
Stacey says
Hi
Does anyone know roughly how long a complaint will sit with FOS for before being looked at. Was hoping for some sort of time frame
Cheers
Jordan Lea says
Spoke with amigo yesterday, at 21 weeks.
In June they told the fos they had not received their request for info, they were given until 18th July to send and still haven’t. Fos said nothing they can do.
After speaking to amigos complaints line I was told nobody is getting their complaints upheld within 8 to 10 weeks and anything im reading on the Internet just isn’t true, he also said he doesnt understand why people are posting things on the Internet as its obviously fake. Genuine comments.
He couldn’t quite grasp why people use forums like this.
Has anybody here has theirs dealt with within 10 weeks?
Sara (Debt Camel) says
if you go back through the comments a couple of people reported surprisingly early settlements a few weeks ago. Not since. I can’t imagine why they would be fake but I suppose it’s possible,
Anon says
I have been chasing and emailed so many diferent names that have cropped up on here.
I got a reply yesterday (I’m at week 20) to say that they are going through them in chronological order and based on my original complaint date I should have a final response by the end of August 🙄
They said they have until the end of Oct to catch up with the 8 week industry ruling
I haven’t had any correspondence from the FOS other than confirmation that my complaint had been submitted, which I did after the 8 weeks were up.
Kyle says
FO say they can take up to 4 months to even get it seen to by an adjudicator. I called them up and told them about my situation and they put me on priority, it’s still been couple months and they have only just said someone is looking into it, they said they asked amigo for information and that’s the last I’ve heard. I called amigo and amigo said they haven’t received anything like that request? Strange huh. Could it be that Amigo are sorting out all the ones that haven’t been submitted to FO yet, because amigo get charged when someone refers their case to the FO. Seems like they are trying to sort out the ones not gone to FO first. I’m still waiting for final response from Amigo, just gone 8 months now :(
Sara (Debt Camel) says
Could it be that Amigo are sorting out all the ones that haven’t been submitted to FO yet
Honestly I don’t think they are that well organised!
I haven’t seen evidence that cases that are sent to FOS go slower – if I had I wouldn’t be advocating it! There just seems to be a huge random element in what is picked up when, how long it takes to get a decision, what the decision is and how long it takes to payout.
It’s human nature to want to look for patterns, but what we are seeing here is a lot of random stuff and a few people who post much more than others, making it look as though their cases are perhaps more common that they actually are.
Kyle says
Amigo said same to me, they said they hadn’t received any request for information from the ombudsmen service.
M says
Hi Sara
Just wanted to say a massive thank you – without your help or advise I never would have even got this far
Today Buddy Loans have finally agreed (after two adjudicators decisions (original investigator left) to give redress. Advise to anyone dealing with them – don’t give up, don’t be afraid to provide bank statements either it was the best thing I could have done.
Thanks so much again
pol says
Hi M, buddy also rejected my adjudicator decision upholding all loans so its gone to ombudsman for final decision. Looks like buddy are playing hardball with all complaints
M says
Hi !yes they queried mine the first time also and asked for it to go to the ombudsman, my first adjudicator left and another person picked up the case. I emailed the CEO of Buddy Loans and copied in their complaints department. Basically stating that I thought it was unfair for me to be kept waiting any longer, especially as The Ombudsman has upheld all adjudicator decisions against Buddy Loans .. 2 days later i got a response from their complaints team confirming they would pay the redress, worth a shot. I only had one small loan with them, if you have had multiple loans you have much more of a chance.
pol says
Thanks for the reply M, I’m still waiting to hear the ombudsman’s decision but I’m pretty sure they’ll agree with the adjudicator. I’ll give that a try, thank you
G says
Has anyone had their account passed to Interum and actually settled.Ive had Amigo saying they are going to settle account and refund interest etc but due to it being sold to Interum it is complex.They tell lie after lie and TBH I’m getting raging now this has been going on from January.
Chapers says
Good afternoon Sara
I wonder if you would be able to advise me on how much I may be entitled too. Amigo has upheld my complaint finally its been a long struggle since November last year, so I’ve been told to wait for figures.
I initially took a loan out in 2011 for £3000.00 I paid 12 payments of 197.11.
Topped up the loan 26/2/2012 to £5000.00 then £500.00 was added on as a fee I was unaware of I paid 60 payments of £217.39
Sara (Debt Camel) says
When you topped up the loan, do you remember how much you got in cash?
Chapers says
Hello Sara yes the amount received was 3,310.77
Thank you
Sara (Debt Camel) says
I am assuming you made all the payments, not your guarantor.
Then I make the refund of interest and charges:
loan 1 1054
loan 2 8020
total £9074
Plus several thousand pounds in 8% interest. 20% tax will be deducted from the 8% part before it is paid to you.
Momma 27 says
Good evening I’ve spoken to amigo loans today. Not in the slightest bit impressed with them. I expected my redress offer 7 days ago the said they only got it today as I’ve gone the X company to deal with it all I’ve just spoken to them they’ve forwarded the email to me which they sent 7 days ago they have also been in contact with amigo loans all day sorting things out wrongful information supplied to its customers over the refunds. Some people are getting theirs paid out etc in a couple of weeks from receiving The complaints others are waiting months.
Some people getting refund days after accepting redress figures others are waiting 30+ days for funds. They should be doing it in order but they are not. I rang and complained as a friend sent hers complaint in 6 weeks after mine she had her figures day before me and was paid out 4 days later I’m still waiting for funds now to be told we don’t know when you will be paid it’s pot luck!
Good luck everyone with this thank goodness for the lovely claims gentleman who’s dealing with them on my behalf he’s less than impressed and will contact me with a response!
Audrey says
Hi Sara stu just checked his amigo account it says closed and settled. Hopefully wont be long till he gets his cash
Audrey says
Hi Sara just checked bank account amigo has paid refund.thats hubby finished with them. Only 4 days after accepting offer. Thank you so much for your help .this site is great.£400 per month free.good luck everyone else don’t give up
James says
Hi guys
Got email from amigo today saying they have not forgotten about me and now it’s over 8 weeks if I wish i can send to ombudsman.
I have a few questions, how long do I actually have to go to the ombudsman, I don’t want to rush it to them I want to give amigo the chance to resolve this.
And how long do amigo actually have to deal with complaints now? I no under the situation it will take longer.
Ann C says
Go to the FOS straight away at the 8 week point – that way if Amigo reject then you’re already in the queue for an adjudicator. It won’t affect things with Amigo if you do this, and if they resolve it before the adjudicator picks it up (this happened to me) then you can just let FOS know.
Steph says
Hi can anyone help received my email sAying they are upholding complaint on two loans says redress owed 15849.60 Balance for current Loan 1586.63. Redress less balance 14262.97 then cash refund 0.00
Not sure what this means does this mean I’m entitled to nothing?
Also gave me a link to accept and doesn’t work!
Thanks
Stephanie.
Sara (Debt Camel) says
How many loans did you have altogether? If more then 2, which ones are they refunding – it matters a lot if that includes the last loan.
Is your guarantor getting a refund?
I hope you must have been sent more numbers than that…
For example, here is a typical set where some loans were not being refunded and there was no guarantor refund:
Total interest £14,508.13
8% simple interest ( before deduction ) £ 63.08
20% tax reduction £15.77
Fees and charges £0
Unpaid interest £2,091.79
Could you copy them all in please?
Total redress payable £12,479.42
Current loan balance £4686.86
Balance less redress £0
Cash refund £7,792.56
Cassie says
Hi Jordan
Mine was upheld within 10 weeks.
Please see my timelines below:-
21st April 2020 – Submitted complaint via email.
27th April 2020 – Received email from Amigo acknowledging receipt of my complaint
5th May 2020 – Received email from Amigo with a questionnaire (I didn’t respond as all my information was in my complaint)
19th May 2020 – Received an email to say they are still looking into my complaint.
19th June 2020 – (8 weeks & 3 days) I received an email to say my 3 loans had been upheld.
19th June 2020 – My Guarantor received her redress of £12,429.00 and accepted same day.
24th July 2020 – I received my redress and confirmed.
31st July 2020 – My balance on my Amigo account changed
31st July 2020 – ( Same days) Funds received!
From start to end:- 14weeks & 5 day
Sara once again thank you, I can’t believe I stumbled across this your website 3 and half months ago and now I’m debt free.
I contacted my local citizen advise to make a donation, but they said I have to wait until the office is open to the public! However I will stick to my promise. Good luck everyone :-)…. Stay positive and keep chasing :-)
Ryan says
Hi. I noticed your Guarantor received a large amount of redress. I am in the same situation at the moment and my guarantor has accepted. They said my redress is being calculated. With the guarantor being a large amount does this have much of a impact on your own redress offer? I can imagine mine isn’t going to be much? I had 10 loans over a 7year period and all have been upheld.
Thanks
Ryan
Lk says
Any payments the guarantor made will be added to your loan, as if they never made the payment.
Graeme says
Hi can someone help me. I recently received a email from amigo saying the will remove all interest and a refund of any payments made in excess of capital amount also 8% simple interest and the removal of any adverse information from my credit file. I received this on the 30th july.they said they are waiting on my guarantors response as she paid a few times. But she hasn’t recieved anything from them yet.does anyone know when they will contact hur .
Lk says
Get the guarantor to give them a call to say she hasn’t received anything. Normally it’s the same day as you get the email.
Graeme Anderson says
Hi . My guarantor contacted them on the situation but there response was there waiting on me getting back to them regarding the complaint. But as far as am aware am waiting on them sending refund figures to hur.
Lk says
In that case I would ring them up and ask what’s going on, and why my guarantor hasn’t received any offer yet
Richard says
Hi I just starting my claim. Does the Guarantor received a pay out to? He hasn’t made any payments.
I was going to say in my email I didn’t want him to know? What’s best thanks.
Sara (Debt Camel) says
Then he won’t get any payout. He will only be told about the complaint if you win, in which case he will be Told he is being removed as guarantor from the loan.
H J Lawrence says
Hi
My complaint has been upheld.
I still owe £7800 but i have paid around £296.44 for 3 years. Will i receive my interest back? And roughly how much?
Thanks
Sara (Debt Camel) says
Are you getting all of your three loans refunded?
On that last loan on its own, you have probably made about 40 payments? So that would be £11840. You borrowed 7500 so you have paid £4,340 in interest on that loan. The balance would be cleared and you would get that refunded.
BUT
If the earlier loans are being upheld you will get more.
If they aren’t then you may get a lot less if Amigo add on an “unpaid interest” charge – which is completely unfair and can be challenged if they do.
Hollie Lawrence says
Yes all 3 are be refunded so i think i may get more. Since April i have been paying £99 instead of the £296.44
Sarah says
Hi Sara
My son has just been sent his redress figures but to us they don’t look correct could you have a look at what you think they should be?
Loan 1 £3000 made 8 payments @ £146
Loan 2 £7500 made 10 payments @ £365
Loan 3 £10000 made 7 payments @ £619
Top up payment £1800 could not afford payments so then took top up & put £10000 loan over 60 months instead of 24
Loan 4 £10000 24 @ £395
Loan outstanding shows £9542
They offered guarantor £1959 which he declined as we had paid him back
They are offering my son £1866?
Email from Amigo
agreements. The redress offered consisted of:
• The removal of all interest charged under the loan agreements;
• A refund of any payments you may have made in excess of the capital amount of the loan agreements, along with 8% simple interest; and
• The removal of any adverse information from your credit file in respect of the loan agreements.
In addition, we will remove your guarantor’s liability for the loan agreements.
1 23 Feb 2016 £3,000 36 £146.37
2 14 Oct 2016 £7,500 36 £365.92
3 03 Aug 2017 £10,000 24 £618.16
4 29 Mar 2018 £10,000 60 £395.25
Sara (Debt Camel) says
Can you say how much your son received in cash for each of the top up loans? And how many payments he has made to the current loan?
Sarah says
Hi Sara
He borrowed £3000-(4500) £7500 (2500) £10000
Then had top up of £1800 to £10000 over 60 months so far has paid 24 payments at £395
In total he has has £10000 loan
Sara (Debt Camel) says
So is this right:
loan 1 borrowed 3000
loan 2 borrowed 7500 – received 4500 in cash
loan 3 borrowed 10000 – received 2500 in cash
loan 4 borrowed 10000 – received 1800 in cash
?
Sarah says
Hi Sara
The 4th loan Was the 3rd loan just couldn’t afford payments of £619 so Amigo said only option was to take the £1800 top up& put £10000 over 60months so basically start again!
Thanks
Sarah
Sara (Debt Camel) says
They almost certainly set that up as a 4th loan.
So those figures look like guesses as the top-up amounts are never round numbers. If I assume they are right, then your son has paid in interest:
loan 1 1168
loan 2 3650
loan 3 2533
loan 4 still 520 to repay until he has repaid the 10,000 borrowed.
Loans 1-3 would then repay that small remaining 520 balance and he should get a refund of £6831
So either your son’s figures are very wrong or Amigo’s are… Does he have copies of the loan accounts? |He copuld check his numbers there.
Then he needs to ask Amigo to explain how they have calculated their number.
Lesley says
Hi Sara thanks very much for your help and this site has been invaluable,I had my redress and amigo told me I would get paid out on the 24th August however was shocked to see it was in my bank this morning I will give a donation to my local citizens advice centre thanks again x
Momma says
May I ask when you were given your redress figures please to when they paid out I’ve been told by the 24th August too I’ve rang them today and they said they are going to see if they can put me on a priority as this has been going on for 19 weeks now received my figures 28th July guarantor had his 9th July many thanks xx
Scott says
I had two amigo loans starting in 2016. Firstly £7000 and then a top up of £10,000. Today i received my final response. And amigo rejected my complaint.
At the time of these loans i had gambling issues and money problems relating to this. I was also unemployed and lied about income on my application.
Should i still refer this to FOS
Thanks
Scott
Ps great website sara very useful
Sara (Debt Camel) says
Definitely send it to FOS, with copies of your bank statements.
Adam says
Hi Sara, firstly thank you for your help and hopefully offer some inspiration to others , thanks to your site i have cleared a default from my credit file from lending stream. Amigo have offered me the full redress on all loans i have had with reducing my loan down to £1800 from £9000 as well as removing my guarantor. It was slightly weird situation as they rejected, so i took to the FOS (told amigo so) then out of the blue with no word from the FOS amigo contacted me to say after my complaint with the FOS they have decided to uphold my complaint and offer redress etc. I Still haven’t heard from the FOS but i have obviously accepted the offer from Amigo.
I also have a complaint with George Banco, a loan i had at the same time as my amigo loan albeit i have paid it off but was equally as un-affordable as the amigo if not more so. i wondered if anyone has had any dealing with GB complaints? as the majority on this forum appear to be with Amigo?
Emma says
Hi,
My complaint has been with amigo now for 9 weeks. I phoned up today to get an update as I had only had a generic email with no time scale- I was informed no one had looked at my complaint and said it was because 95% of their claims are the same as mine so they don’t have time. I mentioned I have made two ‘big’ payments, so after being given no time scale I was forwarded to the collections team where I spoke with what can only be described as the most useless man I have ever dealt with.. he said he was looking to reduce my payment I explained this is not what I wanted I was phoning to discuss my complaint so could I be passed back to complaints he said he would but he would be cancelling my direct debit- I asked him not to because the fact it leaves my account automatically helps me a great deal with managing money. He said as a responsible lender they had to, I asked them not to as I did not want it to effect my guarantor. He offered me no help and kept asking for income and expenditure- I told him I didn’t have figures to hand because I wasn’t ringing about that and he read figures to me on file and I said they didn’t sound like ones I would have given; he then quite slimely said as they are looking into your file they will happily listen to this conversation! I asked to speak to a manager, he said that’s fine in 3-5 working days!!!
Will this have effected my claim?
Sara (Debt Camel) says
Your complaint is that the loans were unaffordable at the time you were given the loans. No discussion about your current situation is relevant to that.
Jase says
Finally got my payment and loan settled.
Thank you to Sara for making this even a thing for me it truely has changed my life.
Claim in beginning of March,
Upheld 29th June
Redress 21st July
Loan settled and paid 5th August.
Total redress 14000 – 2000 unpaid interest – 4600 current loan.
Hang in there guys it will happen i done it all myself didnt use a middleman just Sara’s advice i will be donating to my local Credit bureau.
Simon Crewe says
Sara,
I found out my wife has been making repayments on what seemed to be a guarantor loan from when her Grandson purchased a car – he bought the car, made a few payments, started missing payments and the debt was transferred to my wife.
The CAB, they advised me to request a Statement from the loan company and also directed me to this website for advice.
The Statement from the loan company includes a Loan Agreement IN my wife’s name!
The loan Agreement has a signature on it but it’s absolutely NOT my wife’s signature, or even close to it.
I’m not sure how to proceed.
If we accept that my wife was the Borrower then it seems the best we might hope for is the remainder of the loan is cancelled (£1,230 from a £9,000 loan).
If we operate on the basis that my wife was a guarantor then I’d like to think we might be able to recover the £5000-odd she’s paid.
Obviously, the latter option would be preferable.
My wife is a pensioner with a part-time job and earns around £800 per month.
She genuinely wasn’t told she was a guarantor for the loan and she couldn’t have afforded the repayments on it.
She was told she was just signing as a character witness for her grandson.
After he defaulted on the repayments, she was treated as a guarantor.
Now, according to the Loan Agreement, she was the actual Borrower.
Any advice on how I should proceed with this?
Thanks.
Sara (Debt Camel) says
It’s nice of Citizens Advice to suggest you look at my guarantor page, but I can’t give advice on an individual case and you need someone to help you look at the paperwork you now Have in detail – that is not me.
You can go back to your local CAB now you have the contract and ask then to help. Or you could phone National Debtline on 0808 808 4000 And talk to them about it. Your wife needs to be with you to help explain what she thinks she signed and what has happened since.
Good luck!
Kirsty says
Today I have received my email saying I’m entitled to a redress… I’m Entitled to all interest back plus 8% on two loans. One for £2000 and one for £3250. Both Settled with the latter only just settled in July 2020.
On the loan of £3250 I personally made 16 payments of £158 And my guarantor paid 20 payments of £158 which I Actually paid to him. (So i basically paid the £158 not my guarantor, it was just his bank card used).
They are saying my guarantor is no longer liable for the loans payments and if he chooses he can get the money back what he paid. ( 20x £158 = £3160)
My question is….would it be better to receive this money back, the money will go back to me and not my guarantor as I paid it to him anyway or do I just leave to loan paid and receive the full redress in the interest + the 8%?
My concern would be how long I would have to wait to receive funds. I’m
Scared they will go into administration while I wait. They have gave me the date 19/08/2020 to Receive my letter with the full redress amount on If my guarantor decideds not claim the money they paid back
Thanks
Becqui Lewis says
I’m trying to work out my redress is this something you could help with Sara. Loan 1+2 are not being upheld but loan 3 is I recieved 4,700 when I topped up to 10,000 and I have paid 23 payments of 395.95
In my complaint they have said they will remove all interest. I think I will owe money. Loan 1+2 are still with the obusman. I just can’t help but think I put in the complaint not my guarantor and now they are paying him his payment of 10,000 which then means I’ve not really received anything back I hope this makes sense
Sara (Debt Camel) says
As I said, this is a huge refund to your guarantor. And there is also the question of whether they will be adding “unpaid interest” for the loans 1 and/or 2 that they are not refunding. 23 payments of £395 is less than the loan size of 10,000, so I doubt you will get anything back and you may end up being told you owe a very large amount.
I think you need to wait and get the numbers, but it sounds like this one will be heading to the ombudsman to sort out.
Becqui Lewis says
Ok thankyou I have spoken to them today and they have all evidence to now put me on the waiting list but could take upto 4 months if not more to be picked up they said. Let’s hope the Ombusman help me. Thanks again Sara
Mr Football Mad says
Does anyone have any advice with regards to TFS Loans. FOS Adjudicator has ruled in favour but haven’t seen much on here about TFS.
Any help/advice would be greatly appreciated
Dip says
Hey,
I complained to TFS tail end of last year, and was denied in mid December. I sent to FOS straightaway.
Late May/early June or so my case was picked up, and after some initial back and forth the adjudicator upheld my complaint and informed TFS. TFS then came back to him with some new evidence and disagreeing, to which he replied saying the decision still stands. Now I worry they will refuse again and it will go to an Ombdusman, which can take up to another few months to be assigned and lookde at!
Additionally, on the 9th I submitted a fresh claim to TFS for my original loan, since the FOS only took the complaint about my top up loan. The 8 weeks for this was up on Tuesday 4th August, and I have spoken with Joanne (who is handling my case), and been told repeatedly that she is just waiting on “Management sign off” and that her hands are tied…I asked whether this was good or bad, and was told the same thing again.
Mr Football Mad says
Thanks for the reply Dip,
This is exactly the same as mine Joanne was also dealing with my complaint and while she came over as very understanding and apologetic her final response was completely different.
It’s not fair that we have to wait this length of time again for an ombudsman to pick up!
Good luck with your complaint though
David says
Finally had my amigo upheld and redress total of 18weeks all settled n closed on my account just waiting for funds to hit bank now says -2167.45 so that’s what I accepted on phone that’s what I should get in account I submitted claim from 21march got final response 21st July got redress 27th July n now says settled 5th Aug never bothered sending to FOS AS FOS charge amigo 500 pound for looking into people’s claims so I figured be best to wait and let amigo do it themselves as I think amigo mess people about who take it through FOS that’s just my guess but good luck to everyone thanks to all and Sara really made a big difference to my life just getting rid of the loan never mind some bonus dosh in return to wipe out some my other depts woohoo
Don says
Had my email confirming my figures this morning;
Interest paid to be refunded to you: £6,738.61
8% statutory interest awarded: £2,993.50
20% tax already deducted from 8%: £748.37
Fees/Charges: £800
Sum of Guarantors Refund: £302.38
New Balance (after guarantor refund) £302.38
New Balance Less Redress: £0.00
Cash Refund: £10,229.73
I’ve not idea what the fees/charges are for. I will phone this morning when they open to ask but to be honest after making my initial complaint a year ago I’m finally glad this has come to an end.
My guarantor decided it was easier for her just to accept the payment and she will pay it me back (I had paid her back at the time she made the payments) so I assume she will get a little bit of 8% added to hers as well.
I’m going to accept this morning so will keep you updated as to when the payments actually goes into my account.
Thank you again for all your help!
Kyle says
Was yours with Amigo, did it go to FO? When did you put the complaint in? I’m starting to loose hope as I sent mine in January 4th and it seems there aren’t anyone who’s waited longer, I may have seen one. I’m wondering if emailing their CEO would do anything. Congratulations on your one being sorted 💪🏼
Vanessa Enticknap says
We have waited since January aswell still waiting for our redress guarantor got hers today now waiting for funds
Don says
I’ve just spoken with Amigo and the fees/charges they’ve added are because I got a loan through a third party/broker and it’s the fees they were paid.
Sara (Debt Camel) says
These should be included in your refund.
frogman says
Hi All,
Please is there anyone waiting this long for Amigo to get back with redress figure? Upheld on 9th of July and was told I would get redress figure no longer than 5 days after the 23rd of July which should be 30th of July.
Thanks
bryan says
Hi frogman,
My claim was upheld on the 12/06/2020 I got my redress figures on the 31/07/2020, and I’ve been told id be paid within 15 working days, as on yet nothing in the bank.
I hope this helps.
frogman says
Thanks very much Bryan
Andy says
I’m exact same I was told 30th when I spoke to them yesterday they said its 5 working days not days …so annoying
steve says
Hi mate, Yes, I’m in the same boat. I’ve had 9/10 loans upheld. I got told around the 30th of June that I should get my redress calculations no later than the 15th of june and still heard nothing. When I ring they just say all have been delayed. I’m losing my patience now.
Jason T says
Got news today two weeks after my guarantor accepted redress, asked when this would be in her account and was told 35working days due to a backlog.
Jack says
Hi all
I’ve just been told about this site , could someone help me with my emails to the loan companies. This could actually be a life saver after all these years.
Thanks
Jack
Andrea says
The templates are at the top of the page to copy. Just amend your own personal details, these are guarantor loans ones, if you needs others they will be under other sub headings
Michael says
Hi.
I accepted my redress from an old loan that was paid off on 2016 on 23rd July. I have checked my account and now has – £5800, which was altered yesterday ( 05/08/20). Should this hit my bank today, or has anyone had to wait longer?
Audrey says
Hi we received ours Tuesday. Day after account was closed and settled
Claire H says
My account has also got a minus figure from yesterday, im hoping I get paid out sooner than 27th but we will see
jennie says
mine showed minus yesterday at last too
i’m guessing it’s on the way 👌😊😊
Unlucky says
I’ve had an Amigo Loan complaint upheld, 5 seperate loans over the years. My guarantor has accepted a refund amount larger than my current loan balance, how will this affect my overall balance?
Sara (Debt Camel) says
It will depend on the details. The guarantor refund will increase the balance, but you will get a refund for interest you paid on previous loans and the interest will be removed from the current loan so they will both reduce your balance.
Jack says
Hi Sara
I have had x2 amigo loans out x1 bamboo x1 ukcredit and 1 TrustTwo
I know this a lot but I had no other choice.
Amigo one for 3000 and one for 5000
Bamboo 5000
UK credit 5000
TrustTwo 5000
None of these asked for any bank statements of any wage slips etc all paid out pretty easy.
Amigos and bamboo are closed the other 2 are being paid off, do I have a case in claiming back from all of them?
Sara (Debt Camel) says
Was a loan unaffordable for you – did making the repayments mean you had to borrow more from another lender or get behind with bills?
The answer may be different for different loans. You have to think of each loan individually.
If your finances were just a mess and it’s hard to disentangle/remember how you managed loan X from all your other problems, then I suggest you do put in complaints. The Ombudsman is good at sorting out these complicated situations.
Emma says
Is there any order in which amigo are dealing with complaints?
My friend submitted an affordability claim a week after I did mine and she has just had the claim not up held so is going to the ombudsman however I’m still waiting on mine!
Sara (Debt Camel) says
as I have said before, it’s like you are in lines in a supermarket. Some lines go faster than others.
Sophie says
Hi all not sure if this is the right reply box, but wanted to give hope to those of you who have been waiting for Amigo redress for a long time! I accepted my redress on 6th July, account already closed and no guarator input. Easy case. I was told multiple different things depending on who I spoke to. I never lost my temper and was friendly over the calls, it helps to remember these are people being inundated with customer calls! After 3 weeks of waiting and being told that I was next, and nothing, i resolved to make notes of who I spoke to and rang for daily updates. A few of them rememebered me due to getting the same employees daily! :) I was firm that I wasn’t going anywhere and slowly but surely I climbed the priority ladder! My redress was paid to me this evening at 6pm after nearly 30 working days of waiting and several false claims. My advice, be firm but friendly, be persistent and get rememebered! It will happen, even though I was convinced Amigo would go down before my turn, this isnt the case! Plus i got interest added from acceptance date to today- going on a curry and CAB donation! Thanks all and happy nagging!
Sam says
Hi Sara
My amigo claim was rejected saying it was affordable and they done the necessary checks on my income etc. I don’t believe this is so because I lied about my income, and I had a bad gambling problem so had the checked my bank statements they’d have seen many gambling transactions. I was told it’s worth sending to financial ombudsman but how do I do that, is there a template or what is it I should say? Thanks
Sara (Debt Camel) says
” I was told it’s worth sending to financial ombudsman “
who told you this? If it’s a claims company you are using, it’s their job to do this.
Michael says
My account that was paid off in 2016 changed from £0 to – £5500 yesterday, however I have not had any refund deposited in my bank as yet. I see on other posts people get it either the same day, or the next day usually between 4pm and 8pm. Has anyone else had this same situation at all? Thanks
Laura says
Takes up to 48 hours I was told to show in your bank I’ve had mine today guarantor hasn’t yet theirs was £600 more than mine
Michael says
Cheers Laura, was just getting a little worried!
Kyle says
Anyone els having trouble signing into their amigo account?
RC says
ive had issues on and off. since last night. put my number in and after i enter the code they send i just get a white screen.
Im waiting on my refund after accepting redress.
Kyle says
I managed to get in, it glitches out and sent me the code like 6 times hahah I’m still waiting for a final response from January 4th :/ lol. I hope you get your redress ASAP.
Sam says
Sorry Sara it was you on an earlier comment I had just lost your response to me on this thread to reply back on it. I asked if it was worthwhile sending on to the ombudsmen and you thought it was. Then I meant to reply back with asking how i go about doing this but lost your reply on here! Thanks
Sara (Debt Camel) says
OK! Well the article above tells you how to do it – use the Ombudsman’s online form is the easy way.
Sam says
Thanks Sara!
Claire H says
Hey all heres a time line of my compliant, I am so greatful for this page it has been so helpful, and knowing I wasnt alone made the wait alot easier to handle,
28th January 20 sent complaint
29th January 20 acknowledges complaint
24th March 20 escalated to FOS
24th March 20 Amigo still looking in to my complaint
11th March 20 SAR recieved
30th July 20 complaint upheld with redress figures accepted same day
5th August 20 Amigo account displays minus
6th August 20 redress paid to me just before 6pm
Total of 27 weeks and 2 days from start to finish, I am so glad I am done with Amigo now, keeping fingers crossed for anyone else still waiting hope you hear soon.
Lou says
Hi Sara,
One more questions (if you don’t mind). I send the form to UK Credit, along with the original contract number, all the information (loan taken out in 2012 and settled in August 2014), and they have written back saying they can’t look into anything without passport picture or driving license. Is this legal? I can’t find my passport, so I’m wondering if this is correct? I’m on the electoral role, so shouldn’t be a problem verifying me. I’m wondering if this is just an excuse not to look into it on their part?
Thanks.
Sara (Debt Camel) says
I can’t imagine why they want photographic proof of your identity. I suggest you reply saying you do not have a photo id and if that is their final response you will be sending the case to the ombudsman.
Happy says
I had this too, I was told this was because the email I contacted them with was different to the one they had on my account, so they needed to confim I am who i say i am.
Sara (Debt Camel) says
it’s reasonable for them to require some proof of identity, but there is no reason to insist this has to be photographic proof. Some people don’t have any.
Lou says
Yeah, I had to accept that they’re not going to send me SAR. They would only accept passport or driver’s lisence and at present I don’t have either. I’m on the electoral role, could offer anything else, but they wouldn’t accept.
I’ve had to tell them to continue with the complaint (they said they would still invetigate this), and if they reject it, I will have to get a passport and apply for SAR then to send to the ombudsman.
Sara (Debt Camel) says
Well you don’t NEED a SAR, your complaint can go to the ombudsman without it, and unless you want a passport anyway, I would be reluctant to pay for one just for this.
James says
Hi Sara,
Just want to say thank you for all your help, i put my complaint in just over 8 weeks ago and emailed Amigo the other day to say i wont be taking it to FOC to complain until i have given them enough time to look at it and they have came back this morning to say i am due nearly £5000, i know most people have to wait on there figure but mines was actually on the email, maybe because i have paid it off already.
Again thanks for all your help, i will make a donation once to CAB once this is paid out :)
Michael says
Just a quick heads up for anyone with a Monzo bank account.
I was waiting for a payout yesterday, however Amigo rang me this morning to say the had tried to transfer funds, but they usually have issues transferring to Monzo accounts. This was quickly resolved by changing my payment to my Halifax account, so hopefully payment should be made into that sometime today!!
rc says
Hi I was the same. when I rang up to accept my redress and give bank details their system wouldnt accept my Monzo account details. Had to give them my Halifax account details.
Jay says
Hello,
I have had my complaint upheld by Amigo. Little confused by the numbers.
Appendices
No. 1
Date of Payout – 27 Jul 2018
Loan Amount – £4,000
Term (Months) – 36
Monthly Payment – £195.16
No. 2
Date of Payout – 14 Nov 2018
Loan Amount – £5,000.00
Term (Months) – 60
Monthly Payment – £197.62
Total Interest – £3651.93
8% Simple Interest (After Tax Deduction) – £0
20% Basic Rate Tax Deduction on 8% Simple Interest – £0
Fees and/or Charges – £0
Total Redress Payable – £3,651.93
Current Loan Balance – £5,395.70
Balance less Redress – £1,743.77
Cash Refund – £0
——
I thought the amount I have paid should be taken off the original loan amount (£5,000 – not the current balance?)
Please help! :-)
Sara (Debt Camel) says
how many payments did you make to the first loan? to the second loan? how much cash did you receive from the second top-up loan?
Jay says
I have worked it out myself and believe it is accurate! When they say that ‘ The removal of all interest charges under the loan agreements;’ does that mean that the loan balance will not increase during the repayment period?
Sara (Debt Camel) says
Well assuming the numbers are right…
I do the calculations one way, which is simpler. Amigo do them a more complicated way. They should come to the same number!
If you are following the Amigo approach, then “Total Redress Payable – £3,651.93” includes the interest they say you have paid so far on the current loan – so this has to be removed from the current balance.
If you do it my way, it ignores Amigo’s interest to date calculations and the current balance, and take your payments to date – all of them, not just the interest, away from the amount you borrowed.
“When they say that ‘ The removal of all interest charges under the loan agreements;’ does that mean that the loan balance will not increase during the repayment period?”
yes from here on you have an interest free loan to repay. You can make a lower more affordable payment arrangement.
Becky Jarman says
Hi all,
I can’t log into my amigo today, I just keep getting a blank screen. They haven’t disappeared have they? I’m due repayment from them imminently, I’m panicking now that they’ve gone under and closed their website.
Sara (Debt Camel) says
2 other people have said this today – Kyle and RC, see comments above.
but their website looks fine and there is no suggestion that they are about to go bust.
Michael says
Hi Becky.
Website seems fine for me, been checking it a few times today and had no problems
bryan says
Hi Becky,
Its the same for me I can’t get logged in. I was actually told that I was due payment today and nothing as of yet, however my online balance changed overnight to minus?
James says
I spoke to them on the phone today to accept my refuns and she reported the problems I was finding on the website. It seems intermittent as if its due to the amount of traffic on the website.
Andrea says
At 22 weeks I’ve received a response, well I received my response ( which is all wrong) and someone else figures.
I had 6 loans over 10 years. they are up holding 2, 4,5 and 6.
He basically said he hadn’t any details on the first, so I’ve asked for clarification as to why they don’t have credit checks as they have for 2011 were they not done? I’ve found info in the Sar Info they sent showing no credit history marked off on the documents etc.
Loan 3 they bodged my earnings saying it was 1600 a month, yet the following 2 months showed 1300 and 1000, all on the statements I sent when requested.
They sent figures for another persons loan and how much redress they where getting.
They resent mine after an hour after I chased them.
Total Interest
8% Simple Interest (After Tax Deduction)
20% Basic Rate Tax Deduction on 8% Simple Interest
Fees and/or Charges
Unpaid Interest from non-upheld loan
Total Redress Payable
£19,141.81
£340.44
£85.11
£500.00
£2,935.05
£17,047.20
Current Loan Balance
Balance less Redress
Cash Refund £7,559.26
£0.00 –
Settled
£9,487.94
I’ve asked them to look over it again. I’ve had 5 loans not 6 yet have 6 listed, they say it’s from 2011 not 2010.
It’s like 6 people have all put little parts together.
I’ve not agreeed to the unpaid interest deduction of nearly 3grand either. I’l l See if the look at it again and I’ve copied the FOS in my reply! The wait continues
Paul P says
I have a 3 loan complaints upheld by amigo and am just wanting on my redress through but am struggling to understand how it’s worked out. Any hints or helpful advice?
Loan 1 £1925 paid 13 x £93.92
Loan 2 top up £3750 paid 23 x £148.22
Not sure on amount received.
Loan 3 top up £5000 paid 60 x £197.62
Received about £1900
Just trying to work out what I should get back.
Sara (Debt Camel) says
unless you know how much cash you got from the top-ups, I can’t guess.
Nt says
Hi Sara,
I logged my complaint with Amigo on 19 May 2020 and had my final response on 06 August 2020. Amigo have upheld 2 of my 4 loans.
I thought I initially had 3 loans but apparently I had 4.
What would my likely redress work out to be as I understand my current loan will still leave a balance to pay.
Upheld Loan 1 29/01/2013 4000 paid 18 x 158.10
Upheld Loan 2 04/07/2014 Top up to 5000 received 1646.41 paid 24 x 197.62
Defend Loan 3 24/01/2016 top up to 7500 received 3312 paid 33 x 296
Defend Loan 4 top up £10,000 on 25/05/2019 received £4630.52
Paid 13 x £395.35
Outstanding balance £9,165.26 as at today’s date
I will be sending to FOS as loan 3 was unaffordable too because the income figures on the final response don’t make sense.
Looking forward to your response good job on this site too.
Sara (Debt Camel) says
so on those figures you have paid the following interest on the first three loans
loan 1 £2198
loan 2 £3916
loan 3 £7638
Loans 1 & 2 will be refunded, so their total – £6114 – will be taken off the balance owed of 9165 leaving you owing £3051.
If either loan 3 or 4 was included in the refund, they would be owing you money. If they were both included you would get the balance wiped and a cash refund of £8887
Unless your situation had improved signiifacntly between loan 2 and 3 it is very hardto see how a larger loans with a higher repayment would have been affordable. Same with loan 4.
Quite right to send this to the ombudsman!
What is your guarantor’s financial situation? When you took the last top up in 2019 could they have afforded to make all the monthly repayments of £395 a month out of their income and still been able to pay all their own bills, debts and expenses?
Nt says
Hi Sara
My sister is my gurantor and her circumstances have changed since December 2018 as she was made redundant but has a new job with a significantly lower income than previously. So the answer is no she probably couldn’t afford 395. My salary was atleast 4000 less than stated on the final response in 2015 to 2016 so I am of the view loan 3 shouldnt have been topped up. I will gather all the relevant information and make my case stronger before sending it to FOS. With loan 4 though my income did improve since 02/2019 so I am not too fussed about that not being upheld. As long as loan 3 is amended to uphold that will mean my loan will be cleared.
Do you think it will be reasonable to request loan 3 is looked at again with the additional information like bank statements etc with Amigo? I know the process will start over if its raised with FOS?
Thanks again, your advice is reassuring.
Sara (Debt Camel) says
So you want to say you will accept the offer if they include loan 3?
I don’t know if Amigo will listen to offers, but you could try.
re your sister. My reason for asking is if she makes a complaint (there is a separate template for a guarantor here https://debtcamel.co.uk/amigo-complaints-by-guarantor/comment-page-1/) that the loan was unaffordable for HER, then she could potentially be removed as guarantor which would mean you could stop paying while your FOS complaint goes through.
Kerry says
Hi Sara
I recieved email from amigo the other day exactly 8 weeks after I sent in complaint.
Loan 1 December 1st 2017 £750 Defend
No payments made
Loan 2 December 28th 2017 £3000 Defend
No payments made
Loan 3 February 19th 2018 £5000 uphold
Made 26 payments of £197.62
Total interest £4.919.91
8% interest £0.00
20% interest £0.00
Fees £0.00
Unpaid interest £1.633.94
Total redress £3.285.92
Current loan balance 4.979.41
Balnce less redress £1.693.44
Cash refund £0.00
After reading this through I think I made a mistake by phoning them and excepting the offer to pay the £1.693.44 at £50 a month. Was that the right thing to do or should I have sent it to the FOB. But one good thing they have released my guarantor and stopped the daily interest they was adding every day.
Sara (Debt Camel) says
I suggest you go back to them and say you have just found out what the “unpaid interest” figure is, that it relates to the loans that were settled, and that you don’t think that’s fair. Ask them to refund you that or you will be sending the complaint to the ombudsman.
Some people should also have contested the first two loans not being upheld, but as you made no payments to them any interest would have been tiny, so the unpaid interest which is unfairly added is the main reason to object.
Kerry says
Thank you Sara, i will get on to them fisrt thing Monday morning. Also I did ask for my SAR 8 weeks ago and they haven’t sent it. So could there be something on there that they don’t the FOB to know.
Sara (Debt Camel) says
It’s more likely to be incompetence than deliberate… But you should remind them you still want the SAR when you contact them.
Kerry says
OK thanks Sara, but one more question as I offered to pay the £50 a month should I stop these payments I should carry on paying them. Sorry not very good at things like this.
When I topped to £3000 on the 28th I paid the first loan off £750 and I received about £2200 roughly. Then on the 19th of feb I topped up to £5000 paid them back £3.060.73 and I received £1,939.27