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
Gemma says
My guarantor paid around £11000 towards a loan. They have been offered around £1200 ? Is that right or should it be the full amount they paid?
Sara (Debt Camel) says
That isn’t right – it should be the full amount they paid plus 8% statutory interest – how long ago did they settle the last loan? Get your guarantor to phone Amigo up and say how much she paid.
frogman says
If I don’t hear from Amigo by Monday, I am going to pay them a visit on Tuesday in Bournemouth, it’s as simple as that.
I have now had enough of their ”we are chasing this up with the transaction team”
L says
It’s a joke! When you’re seeing people accepting and then getting paid within hours! My mum keeps getting chased for another payment and her account has never updated yet! I keep getting told they’re waiting to hear from redress department
Dave says
Stick in there, I accepted the guarantor redress offer on the 20th July and today I have received a nice tidy bonus to my Friday. The website updated this morning to reflect the correct balance and at just after 5pm tonight it finally hit my account. Amigo did need to be chased regularly and started asking them to send an email confirming what I had been told but well worth the rigmarole 😁
Thanks to Sara and others posting, the advice and support is greatly appreciated.
Gemma Smith says
It was settled in total of a balance of £10303 in 2017
They are investigating the wrong figures, and a lady I spoke to seems to think it’s a typo and that there’s a 1 missing from the offer, so let’s just hope they offer the correct amount.
Sara (Debt Camel) says
oh god!
Gemma Smith says
I know!! The offer on the phone was £1299.69 so I’m presuming it’s meant to be either £11299.69 or £12199.69 . Iv got everything crossed that they will sort it
She paid £296.44, £395.25, £395.25 and then final payment £10303.41.
Sara (Debt Camel) says
Those add up to £11,390 – plus 20% or more (when exactly in 2017 was the settlement?) then none of your guesses look right – should be getting £13500-£14000
Gemma Smith says
It was November 2017, the two lots of £395.25 were paid September 2017, October 2017, the £296 was August 2017. Unless they meant 1 digit, they said “it looks like there’s a 1 missing” Iv been on the phone 10 times today to them haha, they will be sick of me.
Sara (Debt Camel) says
then I think that should be about £13,890 with the 8% added interest.
Gemma Smith says
Will keep you updated. I will be phoning again Monday haha
Gemma Smith says
I have just been looking and the refund offer for the guarantor was £1086.94, (then 8% interest on top) which is the payments of £296.44, £395.25, and £395.25. However she also paid the final settlement amount of £10303.41 which seems to be missing from her redress offer. So this amount should be included in the offer?? Obviously Neither of us can’t speak to anyone today at amigo! So frustrating!!
Sara (Debt Camel) says
That sounds like a simple and likely explanation of what they have done wrong – which is good as the “typo with a missed out number” idea didn’t sound right. I would hope this will be quickly corrected on Monday.
Gemma Smith says
Yes, that must have been what they meant when they said it looks like there is a one missing, not the actual number 1 but a one full payment missing! Hopefully get it sorted out Monday!
Gemma says
I have had spoken to Amigo Today, and they have said that my guarantors refund offer is being revised. I asked them to clarify what that means so I know exactly what they are saying without trying to fob me off again! , they said they are re calculating the refund offer to include all payments made and a new refund offer will be sent via email. They can’t tell me when so Iv told my guarantor to keep an eye out for emails and to ring tomorrow afternoon if nothing through. Let’s just hope we can get this sorted once and for all, then just a case of waiting for my redress offer, accepting and waiting for the funds to arrive!! Whenever that will be 🙄
Steffunie says
I have had my complaint rejected and they have stated in the response that as I said in my complaint I had reduced my outgoing on my expenditure to get a loan, I have acted fraudulently and that I had signed to say the information was true and accurate?The £7500 loan has since been repaid in full with all interest and no defaults.I now understand that this classes as fraud, bht st the time, did not even consider this. And as I’ve openly stated I reduced my outgoings on my application, what are the chances of me being prosecuted if I send to the FOS as I’m scared I’ll be done for fraud and go to prison.
Sara (Debt Camel) says
I am not aware that anyone has been prosecuted for fraud if they take a case to the Ombudsman although quite a few lenders have threatened it.
Steffunie says
Has anyone reported having a CIFAS or whatever it’s called then out against their name afterwards?
Just worried now as I openly admitted I had put them wrong in my complaint in order to get the loan so worried if they did pursue it, I would be prosecuted
Sara (Debt Camel) says
No.
EmX says
Hi Sara
I got sent the final resolve for 2019 for buddy loans and I sent to FOS then I received my partners final response as my final response ? Can I sent that to FOS too in my name as well as him because they said that’s mine ?
We’ve already sent to FOS over irresponsible lending for both me and my partner ?
Sara (Debt Camel) says
One of you is the borrower and one the guarantor?
Have you sent FOS a joint complaint? Or two separate complaints?
What was the response?
EmX says
Sent 2 separate complaints
But my complaint was over the 2019 final response but they sent my partner final response to me as well as him so can I put in to FOS as well?
It’s buddy loans this one they sent it to him Also
validated net monthly income from employment or benefits.
b. monthly rent or mortgage.
c. stated debts, and financial commitments reported to TransUnion.
d. existing debt including high cost shot term loans, alongside.
e. monthly expenses as estimated by the government reporting agency the ONS.
For example in your case, we ran a credit search using TransUnion (previously called CallCredit). TransUnion are a global company and world leaders in providing credit data. This search indicated that you’ve had historic credit issues which is to be expected for someone applying for a Guarantor loan. This check also includes a credit score that is used in our decisioning.
they rejected it
My partner has already Sent this to the financial ombudsman but can I send the same one on my behalf as it’s been sent to me but it’s in his name?
Do I just leave it
Or do I send it in
Many thanks
Sara (Debt Camel) says
To be clear:
– you complained before that the Buddy Loan loan was not affordable for you, the guarantor.
– BL rejected this and you did not take it to the ombudsman within 6 months
– you are now out of time to take this old complaint to the Ombudsman
– at that time your partner, the borrower, did not complain.
– he has now complained it was unaffordable for him
– you have also complained now that you should not have been accepted as the guarantor because the loan was not affordable for the borrower. This is a “new” complaint, but it is based on what happen to the borrower, not too you.
– he has now had this rejected and sent this to FOS.
– you can now send FOS this rejection but you must say he disagrees and has taken his complaint to FOS. And that you don’t want FOS to look at your complaint until his has been resolved.
Sara (Debt Camel) says
well you can but it doesn’t help your case. You want to be able to say that because your partner has won their case, you as the guarantor can get a refund.
Vanessa Enticknap says
Started the whole affordability complaint October 2019 took them till January to decline both mine and my guarantor complaint passed on the same day to ombudsman. Took till may to be took up by them. Guarantor had her complaint upheld and got redress figures 11th August accepted same day still waiting for payout. My first loan was declined but they upheld second even.though ombudsman said they shoukd do both spoke to ombud6they said yiu could take it further but could take upto another year ! So accepted their offer now waiting for redress fiqures ! I can’t understand why some people have been dealt with so quick.
Just want it all finalised now so we can carry on.with.our life’s
paul says
hi sara i have had my complaint upheald and have accepted the offer but dont undertsand the 8% simple interest, i had a £3000 loan then topped up to £6000 and then £10000, i started the £10000 in january 2018 paid every month till febuary 2020 then the country went into lockdown so couldnt afford it. the redress was £10,562.59 minus the amount i still owed £8,527.80 so had a cash refund of £2,034.79. the are saying the 8% simple interest is £34.78 does that seem right on the amount i borrowed and the amount of time i was paying?
Sara (Debt Camel) says
all three loans are being refunded?
How much were you paying a month on the last one? last payment was when?
DM says
Bit late to the party with regards to claiming back my Amigo Loan. Have sent the affordability complaint over on the 26th Aug and received a link today to access my SAR info through egress cloud, but cannot access the data as it does not recognise my e-mail address even though they have sent me a link and seperate password to my phone. Has anybody else had issues with this? Also wondering how long people are getting response back from Amigo (is it within the 8 weeks)? Original Loan was in 2011 under FL with top ups in 2012, 2015 & 2018.
Arlene says
Are u trying to do it on a phone or iPad laptop it doesn’t work On phone it has to be fine on the laptop or iPad u also need to register an account I had the same issue I put in my complaint in 4th June just had a response bk on 25th august guarantor has accepted now I gave to wait 3 weeks for figures hope this helps
DM says
Thannks Arlene, Registered as New user and managed to download all of the files. Just need to wait for response on complaint now. Fingers crossed.
Becky Jarman says
I am so fed up of being told by them to wait and be patient.
They are now almost a month overdue in providing me with redress figures. I will then have the no doubt lengthy wait to be paid out, as nothing has been done quicker in the entirety of this saga so I have no doubt I will be one of the ones chasing them actually paying. It is so frustrating, some people have put their claim in, had a decision, had redress figures and been paid out in the time I’ve just been waiting for the figures. Never mind the additional 8 months. Don’t get me wrong, I’m pleased for the people who have had their decisions and payouts quickly but it just seems so unfair. Every time I phone its the same, please be patient, we are doing all we can, I’ll send an email and chase it up, please give it 24 hours and I’ll make sure they are sent to you in that time… And all the time, nothing. If they ever do turn up I am going to fall off my chair. Sorry for the vent, but I am so frustrated and fed up.
Sophie says
I feel you 🤣 I’m 13 weeks waiting for figures…
Becky Jarman says
Oh no, really?! How can they justify taking so long. It just feels like it’s never going to end.
Gemma says
Hi Sara does this look ok ? I can’t understand why the cash refund amount has over £1000 taken off the actual redress offer ? They have calculated this whilst still revising guarantors offer, so Iv rang and complained today, again!
Total Interest £5,003.84
8% Simple Interest (After Tax Deduction) £701.91
20% Basic Rate Tax Deduction on 8% Simple Interest £175.48
Fees and/or Charges £0.00
Unpaid Interest from Previous Loan £0.00
Total Redress Payable. £5,705.75
Current Loan Balance £0.00
Balance less Redress £0.00
Cash Refund £4,618.81
Sara (Debt Camel) says
No, I don’t understand those figures. Can you go back and ask them how, from those figures, they calculate the cash refund?
Gemma says
Ah right, so Iv deducted the £4618.81 from the £5705.75 and what they have taken off is the £1086.94, which was my guarantors original refund offer!
Sara (Debt Camel) says
Ah. So they may be going to rethink that…
Gemma says
if it wasn’t for this site I would have just accepted what they had said! So Thankyou, I will be ringing them tomorrow to see if there’s an update on the guarantor offer
Sara (Debt Camel) says
Well you can accept it but it’s likely they are just about to dramatically cut it…
Gemma says
So do you think it’s best for me to accept my redress offer of £4618 and leave it as it is for my guarantors offer at £1086.
Or see if they are going to rectify the guarantors refund offer of £11390 + interest ?
Sara (Debt Camel) says
This is such an odd situation with Amigo having got your guarantor’s refund so very wrong. It’s hard to tell what to do, but if you think the most important thing is getting the guarantor’s calculation correct then it may be best to wait for that beafore saying of you accept or reject what they have offered.
If your guarantor’s refund is increased a lot (which it should be! then I expect Amigo will reduce your refund a lot so you still owe a balance.
You may be happy with this as you will between the two of you still be better off I expect because she will have got a LOT more 8% interest than you would. But it may be possible to challenge the large amount they say you owe… so when you have those fiugres, come back here?
Gemma says
I have spoken with them this morning, the lady I spoke to said they should have answer today if they have permission from the case handler to resend the correct calculation to my guarantor. I’m presuming, that if they do send the correct calculation, my balance would show up as £10000 (which was the capital amount loaned) less what they have offered me in full redress which was £5706? I will be ringing them later this afternoon to see if there’s an update, my guarantor is keeping an eye out for an email just incase.
Sara (Debt Camel) says
Let’s just see what turns up – it’s pretty hard to predict anything with this case!
Kelly says
Hi Sara, I would like some guidance with my claim against Amigo loans. Id took out a loan for £750 in Nov 2014 and topped up to £4000 in May 2015. I have £285 outstanding which will repaid by next month. I sent and Affordability complaint and SAR request on Wednesday 2nd Sept this year, I received confirmation of the complaint and a response stating they will compile a Data Subject Access Request and forward it to me, I haven’t received it.
Today I received a final response stating that they won’t uphold the complaint, I’ve noticed a few things on the response that i’d like to question.
1. They have said they are responding to my complaint dated 27/8/20 ( I didn’t put the complaint in until 2/9/20)
2. They say i had no defaults 6 months prior to taking out the first loan (upon checking my credit file I can see I defaulted on 2 accounts)
3. They have an income of £1239.34 and state the did not ask for proof of this as they believed it to be correct.
4. The top up loan they say this “For loan 2 your monthly income of £1,746.76 was verified by a third-party credit reference agency and your monthly expenditure of £1,417.74 was checked against averages published by the ONS, respectively.”
I have sent a complaint off to the FOS I guess i just would like to know if you feel I have a strong case? and where I stand in regards to them not sending the information they hold on me and still haven’t forwarded to myself. Thanks once again
Sara (Debt Camel) says
A firm has 30 days to reply to a DSAR – they are not yet beyond this time.
You may not care much about the small first loan but the second loan was large and Amigo should have looked much more closely at it.
FOS is typically saying that Amigo should have verified income and expenditure properly eg by payslips or bank statements. Not via a third party credit reference agency or by using national averages.
I think asking FOS to look at this is a good move.
Chris says
Hi Sara,
What is your understanding of principle 6 and 7 around being treated fairly? A huge concern is a guarantor getting an amount but through no fault of their own, the borrower is stung with that balance. Surely the regulators are at fault for allowing the irresponsible lending? Complaint I helped with went through FOS but they say they have finished their work on the complaint. They advised CAB as this person ow has a balance of £10,000 more through a complaint being upheld. Potential bankruptcy now because the guarantor gets redress. Surely somebody is responsible? The FCA advised principle 6 and 7 and to speak to FOS who have been poor throughout the complaint.
Sara (Debt Camel) says
I’m happy to talk but this is a “live” issue With quite a few complaints in at a FOS and as yet no key decisions issued that I am aware of. It is possible when there is one it will depend on details of the case, not blanket to all situations.
So
Who complained, the borrower or the guarantor or both?
What is the current relationship between them?
Does the borrower have other debts as well?
Did they get a FOS decision if so was this an adjudicator decision or a guarantor decision?
Chris says
The borrower and the guarantor complained. Both turned down but borrower complaint upheld by FOS. The redress to guarantor is between £25 and £30,000. The original balance was just shy of £6000. It has now gone to £16,000. Adjudicator had to be chased and did very little. FCA suggested looking at Principle 6 and 7 and even a Supervisor at FOS was unsure what could be done. The guarantor borrowed money to pay previous balances so clearing Amigo from redress is not an option. The borrower doesnt make the rules and I believe is harshly penalised through no fault of their own. Amigo may remove interest but dont take into account the level of payments they will have had over the years. The business should be penalised, not the borrower. Bankruptcy is now a real possibility through having a legitimate complaint upheld. Sounds like a legal advisor will be needed.
Sara (Debt Camel) says
Can I ask if you are supporting a friend/relative? Are a debt adviser? Or work for a claims company? I don’t mind, but it will be much simpler to answer if I know what your background is.
Some of the following questions may sound irrelevant but humour me…
borrower complaint upheld by FOS
adjudicator or ombudsman level?
was the guarantor complaint taken to FOS?
The guarantor borrowed money to pay previous balances
Did Amigo at any point suggest to the guarantor that they could borrow money to repay the loan or put the loan repayments on their credit card?
Does the borrower have other debts as well as this one? What is their financial situation? You may think this isn’t relevant but it is.
Chris says
Hi Sara,
I am a relative. The borrower also has other outstanding guarantor loans and had defaults at time of borrowing. The guarantor borrowed other money to make the monthly amount more affordable for borrower. The guarantor never took his complaint to the FOS, only the borrower and this was partly upheld by Amigo and the rest by the adjudicator.
Sara (Debt Camel) says
Sorry I missed your reply.
This is complicated and It affects quite a few cases. it is being debated between Amigo, Claims companies, FOS and (possibly) the FCA. See this holding reply from Amigo to a customer https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-57/#comment-386870. In this intubation there will be a decision by FOS and then Amigo have to decide whether they want to take FOS to court if they disagree. I see no point in you spending ANY money on legal fees – you are very unlikely influence he final decision and it won’t speed up your friends case.
Have you worked out how much your friend has actually paid to each loan? Do you have the figures?
Andy says
Good morning Sara
I’ve recieved an email today stating that amigo our willing to uphold my 5th loan with them. They have stated that other loans were affordable even though I’ve sent them statements from my bank showing I had a massive gambling issue was in a debt recovery programme and had multiple payday loans.
Surely they should be checking this stuff when giving people loans.
They’ve uphold last loan but have held back £1000 due to unpaid interest so my total refund is £800
I have replied stating them facts from my credit report and bank statements. Do you think I should go straight to FOS.
Many thanks
Sara (Debt Camel) says
I don’t think they are changing their minds when people ask them to look again. But having replied like that You may as well allow them an extra week.
To be clear you have 2 complaints to FOS. First that some or all of your earlier loans should also be refunded. And second that the unpaid interest deduction is unfair. If FOS decide to uphold all your earlier loans, the unpaid interest will be irrelevant.
Luke says
Hi Sara. I’ve had my figures from amigo.
Is the tax correct?
Also how long have others been waiting for this to come through to their bank?
[? probably total interest to be refunded] £ 13,139.63
8% Simple Interest (After Tax Deduction) £ 1,746.66
20% Basic Rate Tax Deduction on 8% Simple Interest £ 436.67
Fees and/or Charges £ 330.00
Total Redress Payable £15,216.29
Previous Loan Balance £ 2,592.64
Sum of Guarantor Refund £0.00
New Balance (after guarantor refund) £ 2,592.64
New Balance Less Redress £0.00
Cash Refund £12,623.65
Sara (Debt Camel) says
Are these the figures for the 2 out of 3 loans upheld?
The figures look OK to me. the extra for loan to would be c £1400 – you may not think it’s worth going to FOS for that as the refund on loans 1 & 3 are large.
The tax is correct on that 8% interest number – tax isn’t charged on the interest & fees refunded, only on the 8% extra. If you are a basic rate taxpayer you can claim back £200 a year in tax deducted like this but this is across all you complaints, nit per complaint.
PS For other people reading this, there is no “unpaid interest” deduction here because loan 1 was paid in full before loan 2 – not upheld – was taken. So this doesn’t mean Amigo has stopped these unpaid interest deductions, just that one isn’t relevant here.
Luke says
Okay i understand
Yes so they accepted loans 1 and 3 but not the top up loan 2 which i thought was a bit weird,
I was only expecting about £9k,
Honestly if youve got an affordability complaint send it, Be patient, Its worth the wait.
How long has everyone else been waiting for actual payment? I accepted this yesterday
Sara would you go to FOS ref the 2nd loan?
Sara (Debt Camel) says
The problem with going to FOS is that Amigo may say you can’t do that and accept the current offer – which is such a large amount of money.
Other people who are only being offered a small amount (or who still owe a balance) and have a rejected loan with a lot more interest have an easier decision to go to FOS.
And Amigo is letting the “unpaid interest” cases accept the offer and go to FOS.
It’s your decision. Personally I would probably prefer to pocket £12,500 and not argue about an extra £1,500.
NB my numbers earlier were just rough estimates. The second loan refund may be more or less than my c £1500 estimate.
Tel says
Wow after waiting for redress figure since the 31st of July we got them yesterday, rang to accept and this morning woke up to the money sat in our bank! Shocking as we have had to fight all the way. So relieved. Thanks for your help and good luck to those waiting.
Stace says
Hi Sara, I have had a response from amigo today and ask desperately for your help. They have only upheld my newest loan and have sent me the below. I had 4 loans but I don’t know what to do. Any advice you could give would be massively appreciated.
Total Interest£8,792.31
8% Simple Interest (After Tax Deduction)£0.00
20% Basic Rate Tax Deduction on 8% Simple Interest£0.00
Fees and/or Charges£0.00
Unpaid Interest from non-upheld loan£7,536.64
Total Redress Payable£1,255.67
Current Loan Balance£8,187.87
Balance less Redress£6,932.20
Cash Refund£0.00
Sara (Debt Camel) says
So:
They aren’t refunding any of the first 3 loans.
They are adding on a huge amount for “unpaid interest” which feels very unfair and which FOS has never said is reasonable.
You can now send your complaint to FOS and say the first 3 loans were not affordable AND that you think the deduction for “unpaid interest” is completely unfair as the previous loans were settled.
If your complaint is already at FOS, send FOS a copy of the Final response email you now have from Amigo and say you would like FOS to proceed with your complaint as you do not accept Amigo’s response because the first 3 loans were not affordable AND that you think the deduction for “unpaid interest” is completely unfair as the previous loans were settled.
They have released your guarantor from the current loan I assume?
In that case you can either say you want to pay at a lower rate or simply stop paying. They can no longer chase your guarantor. You will get hassle from them if you stop paying but they cannot take you to court while there is a complaint open at the ombudsman.
Stacey says
Thank you so much Sara. They have released my guarantor but I will refer to fos in terms of the unpaid interest. Thank you again I really appreciate your help
Sara (Debt Camel) says
also say the earlier loans were not affordable!
Luke says
I accepted it yesterday. I’d be a fool not to. The response is below
Thank you for your emails I thought it would be best to give you a run down on the full borrower/guarantor redress timeline.
When we issue offer letter to Guarantor (if they have made payments) they have 14 days to reply to us, even if they reply on day 1 we have to wait for the full 14 days to pass. (10 working days )
5 working days after this offer letters are issued to the Borrower. due to anything needing to be recalculated dependent on whether or not offers are accepted by the Guarantor.
The Borrower then has 10 working day to accept the offer
10 working days for us to process the redress . we need to do bank checks before paying redress.
So in total it can take 35 working day for redress to be paid to Borrowers
Sara (Debt Camel) says
had your guarantor made any payments?
Luke says
Yes they did only 2 or 3 but they didnt reply to the letter ref the redress to them.
Sara (Debt Camel) says
so they only made 2 or 3 payments – thats fine, it won’t make much difference to your redress then.
Luke says
Well the amount they have said apparently includes what they made etc, I accepted the redress yesterday so i am hoping it wont be too long before it’s paid.
In total between Amigo and UK credit I’ve had nearly £24,000 redressed, i will make a donation to CAB.
Kyle says
Update with my case being dropped by FO adjudicator. I had an email from the manager and she said she is looking into my concerns with regards to me being dropped. I thought I would update just in case it happened to someone els. The original FO adjudicator was chasing amigo up for the information on my case, they ignored her 3 times, then on the third time I asked the adjudicator if there is anything more we could do. I later called up and found out she had dropped the case and my case at the FO was waiting to be picked up again :/ I got an email from a manger and she said she will be looking into it and get back to me within 15 days. Still waiting for a final response from Amigo since January 4th 2020. Has been with FO since start of march. (I’m on priority with the FO) 🤷🏻♂️
DLMB2017 says
Hi all,
I’ve had my figures and final offer through from Amigo….and i’m desperately disappointed. I think they’ve messed up. Sara or anyone – can you advise? I’ve had 5 loans in total (all upheld). They are all top ups, up to a final amount of £6,500 borrowed last August.
1 07 Nov 2017 £500.00 12 £51.53
2 03 Jan 2018 £4,000.00 24 £247.26
3 29 Aug 2018 £5,000.00 24 £309.08
4 04 Mar 2019 £5,000.00 24 £309.08
5 28 Aug 2019 £6,500.00 36 £317.13
Total Interest £4,888.57
8% Simple Interest (After Tax Deduction) £0.00
20% Basic Rate Tax Deduction on 8% Simple Interest £0.00
Fees and/or Charges £0.00
Total Redress Payable £4,888.57
Current Loan Balance £6,437.65
Balance less Redress £1,549.08
Cash Refund £0.00
I’ve got all my bank statements – I’ve repaid over £7,500 to them. I’ve got no idea where this interest figure has come from, but they are basically saying I still owe them another £1,549.
DLMB2017 says
There is no mention on their redress offer of anything I’ve paid them. If i repay that amount quoted i’ll have repaid them a total of over £9,000 for a £6,500 loan. Surely I should only be repaying what I’ve borrowed and no interest if they’ve upheld everything? I was expecting an offer of money to me, not me owing them another £1550! They’ve also contiuned to add interest on right through the covid break period which has inflated my balance by over £500, and have used this current balance to make their offer. If they’d worked it out 5 months ago then it would have been £500 less.
Very confused. Help!!
DLMB2017 says
Thanks so much Sara.
The amounts I got paid out and repaid to each were:
Loan 1 – £500 paid out – £51.53 x 1 = £51.53
Loan 2 – £4000 paid out, £3519.60 received – £247.26 x 7 = £1730.82
Loan 3 – £5000 paid out, £2023.25 received – £309.18 x 6 = £1855.08
Loan 4 – £5000 paid out, £885.97 received – £309.18 x 6 = £1855.08
Loan 5 – £6500 paid out, £2441.61 received – £317.13 x 6 and £180 x 1 = £2082.78
Total repaid by me across all 5 loans – £7575.29
All 5 have been upheld – but as you see above apparently I still owe them £1550? Is that right?!
Sara (Debt Camel) says
So on your numbers I make the interest you have paid on each loan as follows:
loan 1 £32
loan 2 £706
loan 3 £969
loan 4 £913
loan 5 still £4,418 to pay until you have repaid the 6500 borrowed.
So if the interst from the first 4 loans is used to offset the balance owing on the last loan, you would still owe a balnace of £1,798.
That is pretty close to Amigo’s numbers.
A couple of points.
You say you have repaid them more than £7500. Adding up the payments you say you have made, I make that £7570 (I goned the pennies so it will be a bit more) so that seems correct.
But you have actually received in cash from them £9368. So you have repaid less overall than what you borrowed, which is why you still owe money.
I see why this is disappointing, but your guarantor has been released from the last loan I assume, so you can now arrange with Amigo to repay the remaining balance at a lower affordable amount. Do you have other problem debts at the moment?
JD says
Hi Sara, I took a loan with amigo in jan 2016, then a top up in nov 2016 & mar 2017. I used your template to submit my SAR request & affordability complaint to amigo on 27th July. I received their final response 11th Sept. They upheld the first loan but defended the 2 top ups. I phoned to ask if I accept can I still send my complaint about the 2 they defended to the fos and they said yes so I accepted on the phone and when I checked my amigo account after the call, the balance had already reduced by the amount of redress given (the interest from the 1st loan was only enough to half my outstanding balance, no cash refund). I then forwarded my complaint to the FOS using their online complaint form and then followed amigo up with an email explaining I didn’t agree with them defending the top ups as my financial position was worse than when I took out the 1st loan and advised I’ve sent to the FOS.
My only remaining question at this time is that I still haven’t received my SAR, should they have sent this to me by now and would it be reasonable for me to chase them up about it? I am especially interested in gaining this information now that they’ve defended the top ups in the final response on the basis that my income was verified by a third-party credit reference agency and monthly expenditure was checked against averages published by the ONS.
Sara (Debt Camel) says
Quite right to ask FOS to look at that case!
Yes Amigo should have sent the SAR by now, so chase them.
Arlene says
Hi Sara can u help me a had an email with redress figures and they have said out the 1 loan and 5 top ups a now owe them 3331 when the loans were cleared off they gave my guarantor a refund as he cleared last loan early could u see if this is correct 1st loan was 750 4th March 16 paid 77.29 from March to July
Top up 1 2750 8th July 16 paid 134.17 (21 payments )
Top up 2 18th April 18 2750 169.99 (3 payments)
Top up 3 6th July 18 3750 (1 payment 182.96
Top up 4 29th august 18 5750 ( 4 payments 245.96)
Top up 5 3rd jan 19 7000 (2 payments 299.43) then guarantor paid off 6996 they have refunded guarantor the 6996 then sent me figures to say total interest I paid 3634.81 8 percent interest 3.88 sum of guarantor 6969 new balance less redress 3331.10 cash refund 0 is this correct or do I refer to ombudsman
Sara (Debt Camel) says
Hi Arlene,
can you say how much you got in cash from each of the top up loans?
did Amigo uphold all the loans?
I assume you complained and not your guarantor?
Have you repaid your guarantor any of the money?
Arlene says
1st loan 750
Top up 1 2750got 1714.27
Top up 2 2750 got 2218.03
Top up 3 3750 got 1097
Top up 4 5750 got 1954.52
Top up 5 7000 got 1188.24
Guarantor paid 6996 on last loan
Kyle says
Update, I received a weird email from FO, is this normal?
Your complaint about Amigo Loans Ltd
Amigo has told us they would like to make an offer on your complaint. The offer does not follow our general approach in cases we uphold with issues similar to those you told us about in your complaint. But we wanted to let you know about this offer so you can decide whether or not you want to accept it.
The offer explained
Amigo have told us that they are willing to make an offer on the following loan only – 37244558.
The offer will include:
Amigo refunding the interest that you paid on the loan(s). If your loan is ongoing, no future interest will be applied to it;
Your refund will include interest at the simple rate of 8% per year (less any tax properly due) until the date of settlement;
refund amount.
What this means for you
Amigo has given us the details of what your refund will look like, as follows:
Total interest paid: £2,251.08
Plus 8% simple interest (less tax): £40.52
Less Interest due back to Amigo due to top-up loans: £1,916.16
Total settlement due: £375.44
As your current loan is settled, you will receive a refund of £375.44.I turned it down, seen as the initial loan made me to be homeless. :(
I wonder how long it will take now that I rejected it.
Sara (Debt Camel) says
Previously I worked out the interest you had paid at:
loan 1 £1,225
loan 2 £2,244
So I assume Amigo upheld the second loan and rejected the first? The £2,251.08 is very close to my estimate on loan 2.
So you have two things to complain about:
1) the first loan was unaffordable
2) they should not have deducted £1,916.16 – this is what Amigo normally call “unpaid interest” – i don’t know if Amigo are now calling it something lese or if FOS are using a different term.
If FOS uphold the first loan, then the issue of the unpaid interest becomes irrelevant.
As FOS were giving your case priority, I suggest you ask them if they can give you a decision speedily.
Kyle says
Hi Sara, thank you for the reply,
Yh you are correct, so I emailed the woman back and rejected it and told her why I rejected it. I said that I’m not being greedy as I’m far from a greedy person, but I said amigo know I’m homeless and have offered me £375 when I have paid quite a bit interest already. I also explained how I have been living in a tent for two years now because of it. I didn’t want to sound like a greedy pest but I had to be honest about what the loan done to me. Plus Yh I asked them now i have rejected it what is the time scale roughly. I noted that I am not rushing them at all and I appreciate the work they are doing a lot. I hope they don’t think I’m rushing them.
Again thanks for the reply, and I will update when I hear from them :) have a nice day Sara and everyone on here.
james says
hi everyone,
thought I d post a timeline update to help others still waiting –
20th of July my initial complaint email was sent in, I d had an receipt acknowledgment within a couple of days,
at around the 4 week mark I received a we are looking into your complaint email and may need more time to do so email, I promptly replied to all emails reminding amigo of the 8 week rules.
27th August my guarantor received their redress offer and I received the outcome of my complaints (5 out of 6) upheld, my guarantor declined their offer the same day, but I m told 14 days has to pass no matter how quickly the offer is accepted/declined.
I was told I d get my redress offer no later than 5 working days after the 10th September, I received it this morning, accepted by a phone call and had an email to say the 13k redress is winging its way to me. I haven’t checked my account, will give it a day or 2 and check for receipt.
so from start to finish its been 8 weeks and 1 day, compared to others on here I consider myself very lucky.
dont give though everyone, calls /emails whatever it takes, seems I m one of the lucky ones and didn’t ever really have to badger them.
big thanks to this website as I d never have known I could claim in the first place, how do I go about making a monetary contribution ?
regards
James
Adam says
Has anybody had any success with bamboo or George banco
Lisa says
Hi Adam
Yes i have with Bamboo. They rejected my claim so I went straight to FOS. Before the adjudicator even gave a decision Bamboo phoned me asking for more details, i told them it was all in my original complaint. The next day they offered me £500, which was about half, I rejected this straight away and that afternoon they offered me the full amount. It paid off my loan and i got £55 in my bank within two days. I only had one loan with them.
DM says
Yes, I had my Bamboo loan passed onto Lantern Debt collection last year after making reduced payments for six months. They loaded on the full outstanding interest so owed about 8k+ in total . Was rejected at first in Jan and I sent onto the FOS then got an e-mail from Bamboo (had been told would take 3 mths for case to be picked up by FOS) about 4 weeks later stating that FOS had been in touch and although they still think they did nothing wrong, they could have checked my Payday Loan situation in more detail so as goodwill decided to waive all of the interest which was over £6k and would remove the negative markers. I now have £1.2k outstanding from the principal balance which i will have cleared in another 10mths rather than another 4 1/2 yrs !
Simon says
Yes with both. George Banco are a nightmare but got put firmly put in place by FOS and Bamboo changed their initial decision after I said I didn’t agree with first decision. They changed it the following day.
Julie says
Hi I had mine rejected by George banco and has been with FOS since February and still hasn’t been allocated to anyone yet . I am on a arrangemt. With George Banco but interest is piling up and I am worried what will happen if FOS reject it x I had one with amigo and they refunded me and George banco lent me money when I already had a amigo loan and had topped up on it numerous time I have defaults and they never checked my bank statements or wage slips my guarantor was on long term sick getting ssp and they still lent me the money x I just hope I win as it is stressing me out x
DLMB2017 says
Thanks for taking the time to reply.
Clearly I’d done my sums wrong. I just had £6500 in my head, and didn’t take into account the total amounts of the top ups combined…which is my fault for not being thorough. Your numbers are right….so I guess I still owe them a fair bit. I shouldn’t have geared myself up for having this out of my life, though owing £1500 instead of £6400 is a lot better. I still have other debts, so will have to arrange a small monthly payment for now.
Thanks for all of your help. Without this site i’d technically be 5 grand worse off, so even though it’s not as good as i’d hoped, it’s still a result. All the best!
Sara (Debt Camel) says
If you have problems paying the other debts, I suggest talking to StepChange about a DMP, to include all your debts, including this Amigo balance and any overdraft you have.
DN says
Hi
I have received a refund from Amigo but on looking at my credit file they haven’t removed the loans from my file. Are they obliged to do that. If so as they have not updated my file since June – can I write to the Credit Agency and have them remove it.
Sara (Debt Camel) says
Normally they should remove any negative marks. Has the last loan been cleared? Were there any late payments or defaults on it?
Scott McIntosh says
I have been informed it can take up to 3 months for the credit report to be adjusted
Lisa says
Hi I’m looking for some advice, I have made an affordability complaint. If my complaint is upheld what would my figures look like or how much should I still have left to pay? Many of my payments have been paid through other family members accounts or my guarantor. Also late payments and I’ve took out more loans to pay a monthly payment etc.
Loan 1 2000 april 2019 £98 per month payments
Loan 2 5000 july 2019 £243 per month payments.
Balance as of today sitting at £4191
Sara (Debt Camel) says
Do you know how much you received in cash from the top up loan?
Do you know how much has been paid to Amigo by monthly payments for each loan? And of this amount, how much was paid by your guarantor – payments by other people don’t matter, they will be treated as though you paid them, but it matters what your guarantor has paid?
Lisa says
Pay put was £3076
Loan 1 – 296 I paid and was cleared off with the top up.
Loan 2 to date I have paid 2673
Garauntor has paid 2 payments adding up to 486.
I have sent proof of incoming and outgoings to show it wasn’t affordable and of my gambling account statements and bank statements. Proof of a loan I took out to pay 1 of the monthly payments to amigo also.
Thanks for your reply.
Sara (Debt Camel) says
Assuming you win the complaint on both loans.
Your guarantor will be offered a refund of what they paid – assuming they say yes.
On those assumptions and your numbers, I estimate the interest you have paid as:
loan 1 £220
loan 2 interest will be removed so you only have to pay back the £5000 borrowed. You have so far paid back 2673, so that would be a balance left of £2,327
The interest from the first loan will be used to reduce this balance to £2,107
Your guarantor will be released then you can make an arrangement o repay this balance at a slower, more affordable rate.
Lisa says
Hi all
I was just wondering about timescales with Amigo. They upheld 2 out of 3 loans and this was sorted quite quickly but I took loan 1 to the FOS and they have upheld my complaint and given Amigo until 18th September to comment. I was just wondering if anyone else had similar situation and whether Amigo take their time ir whether they keep to timescales from FOS?
Many Thanks
Lisa
JD says
Hi Lisa, just from comments I’ve read on this thread previously it seems like it’s hit and miss with whether amigo stick to the timescales.
I submitted my complaint to the FOS last week, I’m curious how long it took for FOS to pick up your complaint and then provide their verdict? From what I’ve read previously I’m anticipating approx 4 months
Thanks, JD
Lisa says
Hi JD
Once i had the final response from Amigo regarding Loan 2 & 3 I put my complaint to FOS regarding Loan 1 the time line is:
31st January this year complained to FOS
29th April I received an email from FOS acknowledging conplaint with reference number and telling me it may take up to four months.
5th August I received an email letting me know that they were still waiting on the case file from Amigo.
4th September I received an email to let me know they had everything they needed
4th September (Same Day as previous email) I received a copy of the letter that they had sent to Amigo upholding my complaint and asking them to respond by 18th September.
7th September I received a telephone call from Adjudicator checking I had received outcome email and asking if there was anything i didnt understand or didnt agree with.
Hope this helps. It may be longer than the four months you are hoping for as Amigo are dragging their heels on getting FOS the case files.
Good Luck
JD says
Thanks for the detailed timeline =) good luck to you too, I hope you hear from them soon if you haven’t already
Kyle says
Has any case ever got ombudsman awards for troubles to a persons wellbeing and circumstances before on top of the interest and 8 percent? Just wondering out of curiosity.
Sara (Debt Camel) says
yes sometimes eg https://www.financial-ombudsman.org.uk/files/239434/DRN3847539.pdf
frogman says
Anyone got an idea when I can expect payment in my account please? I got the below from Amigo this morning.
”I am sending you this email just to make you aware that your calculations are ready for posting and you should expect to receive it soon.”
I had been calling everyday since I went beyond 20 working days and even threatened to visit them in their office in Bournemouth if I don’t get an explanation as to why my refund was taking so long. Can I take their word?
Vanessa Enticknap says
Our guarantor got the calculations 31 days later still waiting for money
Dave says
Hi Frogman
Have they given you figures for your redress? I received my numbers on 20th July, which were accepted within minutes. Payment was finally made on Friday evening but had to call regularly last week. Each time I spoke to someone I was told it was with their payments team and was chased via email. I started asking them to confirm via email to me the summary of the conversation so I had it in writing, whether that had an impact and sped up the payment I couldn’t say but was a nice bonus at the end of last week. On the day of the payment when I logged in the figures had been updated so I would suggest that is a good indication it’s been sent in the next payment file.
frogman says
Hi Dave, Yes, my guarantor got her figures on 9th of July, I got mine on 10th of August.
My 20 working days ran out on the 7th of September so I have been calling since. Tha balance on my online account hasn’t moved an inch.
I will have to call again tomorrow morning.
Thanks
James says
Happy for you Buddy! Finally us ex gamblers finally winning something :)
frogman says
Hahaha James :) I have gone after all of them. Massive thanks to this website.
NJ says
Sara I submitted an affordability complaint with amigo on June 18th
I still have not received a final response from them.
I sent to ombudsman around 15th August(just after 8 weeks) and I have not heard from them since
I called them to see if they received and they said it has not been allocated to any handlers as of yet.
I spoke with amigo and they said they cannot give me a time for when I will receive a response and basically advised me to bring the case to the ombudsman
Am I at the stage now where it is just a waiting game until the ombudsman get in contact with me?
Sara (Debt Camel) says
Nothing more you can do. I would expect Amigo to reply in the next few weeks.
Did your guarantor make any payments?
NJ says
No my guarantor did not make any payments however I did miss a lot of payments, the loan(loans) is now payed in full, I made an early payment by borrowing money from a family member to clear it.
If I had over £10000 in defaulted credits accounts before amigo granted me the loan (5750 in total) will that work on my favour of them being upheld? I did struggle a lot financially with amigo being in the equation.
Sara (Debt Camel) says
Bad credit in itself is not a reason to reject an application – no one with good credit would ever be apply to Amigo.
But if does mean that Amigo Should have checked carefully that this loan would be affordable for you .
Lindsay says
Hi there
Looking to see if someone can help me understand the following email I have received from the Financial Ombudsman regarding my Amigo Loans.
Is this saying that they will refund my guarantor ( who is my dad ) £3,254.91 and then I will receive £1,919.07. It sometimes fell to my dad to pay at the time but I have repaid him since so he is happy for the whole amount to come to me.
I’ve been fighting this for around 8 months now and my brain is pickled… apologies if I’m being dense!
What this means for you
Amigo has given us the details of what your refund will look like, as follows:
Total interest paid: £4,053.21
Plus 8% simple interest (less tax): £1,159.50
Less Interest due back to Amigo due to top-up loans: £38.73
Total settlement due: £5,173.98
Less amount paid towards loan by guarantor (if accepted): £3,254.91
Your current loan has been settled. If your guarantor accepts the refund, you will receive £1,919.07 as settlement.
Please note, there may be slight variations in calculations when Amigo apply the refund to your loan account due to simple interest being owed up to the date of settlement.
What happens next
If you are happy with the offer and would like to accept it, please let me know by 29 September 2020.
Thanks in advance!
Sara (Debt Camel) says
Has your dad been made an offer?
Lindsay says
Not to my knowledge. He’s moved since the loans were settled so I don’t think they could get in touch with him and I haven’t been asked for his details.
Sara (Debt Camel) says
OK, he may have been offered slightly more than the £3,254.91 they would take off your refunds but on that much money it won’t be a lot (it’s to do with the way they calculate the 8% interest).
What I think they are saying is that is:
– if he accepts the offer you will get £1,919.07
– if he doesn’t you will get £5,173.98 (then obviously you could give some money to him).
Lindsay says
Thanks for that!
They were originally refusing as the loans were over 6 years old and the FO, at first, said they wouldn’t help either but I’ve stuck to my guns and hopefully, this is it coming to an end 😊
frogman says
Finally, someone has worked on my account has balance went into negative late last night so payment should be coming in soon.
L says
We must be in same batch, my mum account has changed over night too. Fingers crossed money comes today 🤞
Alan says
Hi
Mine was cleared last night aswell must be another wave of payments. Great to get rid of them
frogman says
I know they disappoint most of time so I am not that optimistic it would come in today, maybe tomorrow.
It’s indeed a big moment for me as this is a 5yr divorce between my monogamous family – Me, Wife and Amigo. My wife had guarantee the loans believing I was genuinely struggling financially due to salary reduction, whereas, I was gambling heavily. I have since stopped gambling and all the redress I have been getting back is literally changing my life. This is the biggest of the lot though, £4700, beating the £3000 I got from likely loan. It was also my first ever complaint.
Once again, thank you very much Sara.
Becky Jarman says
Hi Sara, finally had figures today. They’ve taken off 3,100 unpaid interest. Can I accept the 3200 they’ve offered me and then go to the ombudsman to fight for the other 3k?
Sara (Debt Camel) says
Wow, that’s a lot.
Phone Amigo up and say you think the deduction is unfair – ask if you can accept their offer and still take the complaint about the unpaid interest to FOS. They seem to be saying yes to this.
Becky Jarman says
Thanks Sara, I’ll do that. Fuming that they think they can do me out of £3000 when their interest is charged daily, so I don’t understand how they are thinking they can charge a penny!
Lesley says
Hi, Can someone tell me an easy way to calculate the 8% simple interest on a refund from Amigo Loans? I do not think what they calculated is correct.
I took a £4250 loan out with them on 29/11/2012, it was at 49.9% APR, 48 monthly payments of £181.80. They have upheld this loan. It was fully paid off, no late payments etc.
They have refunded me the interest of £4456.86, the 8% was calculated as £1579.60 (£1263.68 plus £315.92 tax on the interest). Is this correct? I really do not know how to calculate the 8%.
Thanks in advance for any help.
Sara (Debt Camel) says
My back of a fag packet estimate is 1780. So a bit more but not a lot.
I don’t know of a calculator.
Lesley says
Thank you so much. I tried a spreadsheet but I think I got something wrong as I got £2623.92 and that seems too high.
Thanks again.
Becki says
Can someone explain the “unpaid interest” element in the redress.
My guarantor has been offered a refund of £13,474.25 which is £12,108.38 in payments and £1365.87 8% (less tax)
We have no idea what position this leaves me and she only had until tommorow to accept or decline.
Amigo can’t tell us anything and we don’t want to put me in a worse situation.
Can you help with what potential balance/refund I may owe if she does accept.
Amigo have told us lots of misleading and conflicting information and my anxiety is through the roof.
The total amount of interest paid on the loan(s) is £7780.87.
Would this then be deducted off the balance and then I would have the rest to pay.
Sara (Debt Camel) says
I can’t work out how much would get paid from that.
Are you on good terms? because between the two of you you will both jointly be better off is she accepts and you take the reduced refund. because she will get paid more 8% interest that you would.
how much unpaid interest is there? how many loans did you have and how many were upheld? do you agree the loans not upheld were affordable?
Becki says
I dont understand the unpaid interest.
I made an affordability complaint about 1 loan and 6 top ups and have had all 7 upheld
Sara (Debt Camel) says
are they deducting any money for unpaid interest? they don’t normally when all loans are upheld?
Becki says
No thats not been said.
Basically I’d reas some threads on here and didn’t know what people were referring to as unpaid interest but what I gather is that because all 7 were upheld that doesn’t matter.
Do you know how the refund works if the guarantor accepts?
With the figures above we worked out i would have roughly 4000 to pay?
Sara (Debt Camel) says
So you should NOT have a problem with unpaid interest.
As I said “I can’t work out how much would get paid from that.
Are you on good terms? because between the two of you you will both jointly be better off iF she accepts and you take the reduced refund. because she will get paid more 8% interest that you would.”
If you want me to have a look at what you should get I need to know for each loan
– What you borrowed, for top up loans what you received in cash, the total of monthly payments you made To the loan and the total your guarantor made.
Kelly says
Hi sara, can you check this redress offer from amigo for me.
The 8% simple interest doesn’t look right?
Total Interest £6,460.10
8% Simple Interest (After Tax Deduction) £70.86
20% Basic Rate Tax Deduction on 8% Simple Interest £17.72
Fees and/or Charges £0.00
Total Redress Payable £6,530.96
Previous Loan Balance £11,540.95
Sum of Guarantor Refund £3,740.36
New Balance (after guarantor refund) £15,281.31
New Balance Less Redress £8,750.35
Cash Refund £0.00
Understand all the other numbers and what they mean it’s just the interest on the redress figure should be more £500 plus or not?
Thanks
Sara (Debt Camel) says
How many loans dod you have from Amigo? were some completely repaid , not topped-up?
Kelly says
Loan details
30 Apr 2018 £9,000.00 60 £355.72 paid off around July 2018
10 Oct 2018 £2,500.00 60 £98.81 Paid off just 3 weeks later
27 Nov 2018 £3,500.00 60 £138.34
02 Jan 2019 £7,500.00 60 £296.44 Top up
25 Feb 2019 £10,000.00 60 £395.25 Top up
Thanks
Kelly
Sara (Debt Camel) says
The 8% is not 8% on the whole amount, it is 8% per year since you made payments that are being refunded.
In your case, the small 8% is because you paid very little interest on loans 1 & 2.
As you didn’t repay the last loan and are left owing a balance, you won’t get any on that loan at all.
Kelly says
Thanks for clarifying really appreciate your help.
Carina hall says
Hi
If I’ve had 4 out of 6 loans upheld with Amigo and am referring the 2 disputed loans to FOS, do I tell Amigo I accept on the 4 they upheld but am referring the 2 disputed loans, or do I have to reject the entire offer and just continue paying while it goes through FOS?
Total Interest £15,600.01
8% Simple Interest (After Tax Deduction) £0.00
20% Basic Rate Tax Deduction on 8% Simple Interest £0.00
Unpaid Interest from non-upheld loan £7,911.24
Total Redress Payable £7,688.77
Current Loan Balance £7,992.44
Balance less Redress £303.67
Cash Refund £0.00
Sara (Debt Camel) says
See my reply to Becky here https://debtcamel.co.uk/how-to-complain-guarantor-loan/comment-page-57/#comment-386718
frogman says
I have just been paid by Amigo and account is settled. Hopefully guarantor gets hers today as well.
Sara (Debt Camel) says
What an epic!
NJ says
When did you put in your initial complaint if you don’t mind me asking?
Just so I have a rough idea when I could get mine back
I put mine in on 18th June and still no final response
Frogman says
Hi NJ,
My initial complaint was back in January, I honk they are responding much quicker now so don’t worry, just hang in there
Becky Jarman says
Finally. So pleased for you.
frogman says
Thanks Becky, I thought that was the end of it yesterday but No, they didn’t pay my guarantor so I have to start chasing again as she’s very busy.
David says
Got email yesterday morning of figures. Later in day account only showed borrow up to 10,000. Then today payment into my bank. Finished done and looking forward for provident and FOS decisions 😎😎
Carl says
Hi Sara,
Can you please help with some advise.
I won my case with bamboo on all 3 loans however, still principle of £2k left to pay. I have asked for a reduced payment plan and they have said no it’s normal contracted payments I have to keep paying. Is this correct?
Also, Amigo is the same, I won all loans upheld but still principle to pay of £2k and they want income and expenditures which they have done through the online account. They have asked for my work detail and telephone number. Is this correct? They have also shown what is on my credit file at the moment and what I am paying which I did not give them permission to do.
Are these companies allowed to do this? I thought once upheld you were entitled to do a payment plan.
Thanks
Sara (Debt Camel) says
Bamboo – tell your guarantor to put in a complaint that they should never have been accepted for the loan as it was unaffordable for you, the borrower. Once your guarantor is released, you can pay less and the guarantor won’t be affected.
Carl says
Hi Sara,
My guarantor has been released both for Amigo and bamboo due to my cases been upheld. His cases were not upheld but they released him due to mine being they said. So can they still demand same contractual payments or accept a plan for the balance remaining ?
Sara (Debt Camel) says
Ok so as you have won an affordability complaint your guarantor has been released, then they can’t make you pay the full amount – you should offer a lower more affordable amount. Do you have other problem debts as well? If you do, a DMP with StepChange may be A good idea for all your debts, just include the remaining Bamboo debt in it.
Carl says
Thank you. Not major debts no if I don’t pay these big loams now. I’ve offered £50 a month and they want work details and telephone number and expenditure. Why would they need my work details?
Sara (Debt Camel) says
It is reasonable that you should Make a payment you can afford. Perhaps they think you can afford to pay a lot more than £50…
One thing that can help here is to give them a proper income and expenditure form. Here you aren’t trying to put down the absolute minimums your could spend next month but a real budget you can live on for years. So it includes haircuts, car services, replacement tyres, clothes, pocket money for the kids, and amount for birthdays and Xmas etc. Have a look at this online budget here https://www.nationaldebtline.org/EW/factsheets/PDFs/NDL%20Blank%20Personal%20Budget%20Sheet.pdf which prompts you for things you might forget and converts quarter or week amounts all to monthly so they can be added up.
You can supply a bank statement that shows your income, I don’t see why Bamboo should have your employer’s telephone number.
tina dunn says
Please can you advise on this:
We are currently in discussions with the regulator regarding a particular aspect of complaints and therefore, we have paused the investigation of certain complaints until discussions are concluded. The discussions centre around our redress methodology where there is guarantor involvement – something that has been raised as a point of concern by a number of CMCs/Lawfirms we deal with.
The complaints impacted are as follows:
– All complaints where the Guarantor is the complainant
– All complaints where a guarantor has made a payment as part of the repayment of the loan
I understand the frustration this is likely to cause for our mutual customers but hope this email will help allow you to manage expectations. I assure you this is of the utmost importance to us and we will endeavour to progress these complaints as soon as possible; they will only remain paused while we seek a fair outcome for customers.
Please be aware we’ll continue to work complaints where there is no guarantor involvement and we will still progress any cases where a redress offer has already been made, regardless of Guarantor involvement.
If you have any further questions please feel free to reply to this email.
Gemma says
Oh dear! Who is this from?
Tina says
This is from Amigo
Gemma says
Oh no!! I’m currently awaiting to hear back regarding an incorrect guarantor refund offer
tina dunn says
The have upheld all 6 loans. 1 payment made by my guarantor in 2012, which I paid him back.
I am convinced they are going into administration and are playing for time so I get no pay out.
Yes Amigo
Simon says
Amigo are not going into administration but if James Benamor gets back control he will be challenging every complaint if his outbursts are anything to go by.
Long battle but hang in there…..
Sara (Debt Camel) says
Would your guarantor be prepared to send an email saying he has been repaid by you and does not want to receive any payment from Amigo?
Tina says
He had 14 days to accept. He didn’t and they said it would go to pay off the loan
Manchester lad says
Hi help please. Email today from the FO saying amigo upheld my complaint and will refund all interest and charges plus 8percent ? My loan was £1500 over 3years at £73.15 a month anyone know how much compensation I will get or how to work it out please
Sara (Debt Camel) says
So 36 payments of £73 is £2728. That means you will be refunded £1228 interest. Plus some 8% interest – how long ago did the loan end?
Jacs says
So, I finally received some good news from the FOS for my complaint submitted in January! Amigo have made an offer which includes:
-Removal of interest, bringing my outstanding balance down from £3,800 to £2700 (which is great news)
– Removal of any adverse effects on my credit report (there aren’t any).
However there was no mention of releasing my guarantor or of me being able to repay the £2,700 in smaller affordable monthly payments. The FOS lady is going to contact them to find out.
Surely though if they have removed the interest, this is them upholding my complaint and accepting responsibility for giving me an unaffordable loan? In which case these other things should apply?
Sara (Debt Camel) says
You only had one loan from them?
Amigo normally release your guarantor.
Do you have other problem debt?
Jacs says
I had 4 loans – this was a top-up of a top-up of a top-up! The total interest they are refunding is exactly what I had worked it out to be so I have said to the FOS to accept the offer. I’m just wondering what happens next and when. Will Amigo continue to take my payments as normal? Will they write to my guarantor to let them know? When will they update the balance on my account online? Have other people with an amount outstanding managed to negotiate repayments?
Sara (Debt Camel) says
So they are refunding all 4 loans?
Do you have other problem debt?
Jacs says
Yes it looks to be all 4 loans going by the interest refund figure 👍
I have other debts but they’re not “problem” debts. Just a couple of credit cards, catalogues, car loan. Not huge amounts and all up to date. I haven’t missed any payments of anything since the start of 2015, so these should drop off my credit report next year. Also I haven’t used my credit cards for almost a year! I put them through the shredder just before Christmas last year. I will never again be tempted into taking out high cost credit, especially a guarantor type loan. It’s just not worth it.
Jacs says
Update: the FOS emailed me to confirm that Amigo have released my guarantor and also I have to contact Amigo to arrange repayments.
It’s such a relief to get this outcome. I can now pay the amount I borrowed back in manageable instalments and not have money ruin my relationship with my friend!
Thank you so much Sara for this website and all the amazing work you do helping people ❤
Darren says
So…after months of people telling me to put in a complaint to Amigo about my 3 loans I have had over 8 years…this week I put in a claim via Resolver.
Initial loan was paid off….then 2 “top up loans” taken out while I was in a financial mess and my mum was a guarantor who certainly would have had trouble making the £276 per month payments as she is a retired pensioner .
Probably got a long road ahead but I’m encouraged by the posts in this thread
Sara (Debt Camel) says
Has your last loan finished? If not, are you struggling to make the payments?
Darren says
Finished 3 months ago .robbed peter to pay paul
Sara (Debt Camel) says
That makes the long road easier… but I hope you get A positive result soon!
Darren says
Thanks Sara.
I’ll update when necessary..I was hoping that as all 3 loans were paid off then it would be a speedier process
Sara (Debt Camel) says
No, it just means they have to pay out more cash rather than reduce a balance!
Darren says
Ahhhh I see.
I’m not banking on a refund…don’t want to build my hopes up
But being in a debt management plan and about 6 payday loans on the go….I’m hoping it’s a decent claim I’m putting in
Thanks again
RelievedPaul says
Good afternoon,
Just a bit of news on a guarantor loan. Company (GLO) rejected, have had the FOS on today saying they uphold the complaint.
The complaint was sent in to FOS in January.
I was in a spot of bother then so glad to see it’s been taken into account.
Sarah, are you able to give me rough interest figures please?
£196.50 paid per month from March 16 to February 20 (48 payments)
£1867.29 paid March 20 to close loan.
RelievedPaul says
The Loan was initial £5000
Sara (Debt Camel) says
The you paid about £11275, less what you borrowed is £6275 interest refund. Plus some 8% interest, at a guess over £500.
RelievedPaul says
Thanks Sarah.
This is the second one I’ve won this year.
Both complaints out in around Christmas, UK Credit accepted themselves and had to go through FOS with GLO
All in a refund of around 17k
Couldn’t have done it without this site.
For ref, GLO was a single loan, no top ups. UK Credit was 1 top up.
Don’t be afraid to get the ball rolling.
Just TM Advances to go!!
Natalie says
Hi can I just ask – with GLO did they accept at an investgator level or did you have to have it seen by an ombudsman before they accepted? I currently have a complaint with fos against them I was just wondering
Ian Mason says
Hi guys,
Here is my experience with amigo.
I was missold a loan a few years back which has been fully paid back.
I put a complaint in back at the end of June. At the end of August they upheld my claim.
I was offered 6000 redress on the 1st of September. I was sent an e mail with a link to accept. The link wouldn’t work so i e mailed them and I was told that the email world serve as confirmation and to expect payment in 15-20 days.
Reading other people’s experiences with amigo i have been sending them numerous emails asking for updates. Not one was replied to.
Today I made the decision to call them. The customer relations person I spoke confirmed to me that as I had not electronically confirmed with them via the link then my account had not been sent for payment.
She set this up and informed me to expect it in 15-20 days.
Obviously this was not good enough as this was their error. I pointed this out in an angry but reasonable manner.
Amazingly she found a magic button to press and my money was released there and then and the money was in my bank account within the hour.
Do not trust amigo and do keep on at that them. They will try every trick to keep your money longer. Don’t be frightened to call them and hold them to account.
Anyway, I have my money back so drinks are on me tonight.
Nikki Mouse 22 says
Hello
This is a question about Amigo loans if you can help please. I sent in a complaint on the 22/06/2020 and it was denied about 4 weeks later. I took it to the F0S but i am still waiting for a case worker as they are about 4 months behind. I have waited till this week to get the information they had about me . I emailed them and was told that they had already made their final decision which was not to uphold my affordability complaint and it wouldn’t be looked at again . I emailed back and said that they said they would look at it again if i had new facts that i did because my credit score was low and i had defaults ect . A week later (today) they emailed to say that they were re assessing the decision my claim and someone would be in touch Monday with me is this a good thing ?
Also do you no roughly if i do get both loans refunded how much i would get ?
I had a loan 14/05/2008 for £3000. I paid £137.46 a month until 26/11/2009 I topped up my loan to £5000
( £1,947.94 was paid off what i still owed them and then £3022.06 ( £30 Chaps Payment Fee) was sent to me.
From 26/11/2020 I paid £180.66 of the loan until 06/02/2014 when i paid £1,188.76 to clear the remaining balance.
Many thanks and please keep your fingers crossed for me for Monday.
Have a great weekend everyone :)
Sara (Debt Camel) says
Well it can’t be a bad thing, fingers crossed for you.
Look out for them only upholding the second loan and hitting the refund with a big deduction for “unpaid interest” on the first loan. Come back here if that happens,
Can you say exactly how many monthly payments you made to each loan?
Nikki Mouse 22 says
Thank You very much I am keeping everything crossed that its good news and they uphold both loans.
I used a monthly calculator online to help me and this is what it said.
Loan 1 – 18 Months 12 days between First loan and Second loan paying £137.46 a month.
Loan 2 – 50 Months and 11 days between Second loan repayments of £180.66 a month started till i repaid the final payment of £1,188.76.
thank you again i wouldn’t off even no it was possible to get help without this website
Nikki Mouse 22 says
No email from them today sadly :( hopefully they email tomorrow.
Nikki Mouse 22 says
Hello
I got an email at 5.53 to say they have upheld the second loan but not the first .
I will receive a redress email within 5 working days so not sure on amount or if any unpaid interest will be deducted.
Do you no what i should expect roughly from the amounts i sent previously.
Thank You :)
Sara (Debt Camel) says
How many £180 payments did you make to the second loan?
Do you agree the first loan was affordable? Or did making the repayments to the first loan cause you problems and that led to you taking the top up?
Nikki Mouse 22 says
Hello Sara
Thank You again for all your help.
I made 50 payments of the £180 then paid £1,188.76 to get the loan cleared because i was getting into more and more debt to make the monthly repayments.
I don’t agree the first loan was affordable so i will be taking that one to the FOS still , i did sent both loans at the 8 week mark but am still waiting on a case worker.
I am looking forward to the redress figures but not the unpaid interest they are probably going to try charge.
I would never of had the confidence to try if it was not for this page so Thank You so much again!!!
Sara (Debt Camel) says
So you paid 6188 in interest.
Nikki Mouse 22 says
Yes that is correct :)
Becky Jarman says
Hi everyone, how long is everyone taking to be paid out at the moment? Accepted figures on Thursday and was told up to 20 days. Some people seem to be getting paid the same day, but nothing with mine yet. I’ve had to chase them relentlessly and they’ve breached every time frame in my case so far. I have a horrible feeling this 20 days is going to come and go and I’m going to be chasing again. Sorry to sound so negative but it feels never ending with them.
frogman says
Hi Becky,
Mine went beyond 20days. They said there was a glitch on my account. To be honest, it’s very hard to predict when it would come in.
If you get lucky, you’ll be paid before your 20days, otherwise, I don’t think there’s much you can do until the timeframe given runs out
Becky Jarman says
Thanks Frogman, I was so hoping I would be one of the ones they paid quickly but I don’t know why I even thought it really. I’m so fed up of worrying about it and chasing them. The sooner its all over and done with the better.
Zoe says
I had a complaint with Amigo last year with the Ombusman. A lot was going on ne of my children was quite ill , anyhow I was looking in my archive email and saw an email form the Omnusman in November last year , saying that Amigo would like to settle and that even if I didnt reply they would take that as acceptence of an offer and Amigo would contact me in due course. I have not had anything from Amigo and today when I rang the man on the call centre said he can see the letter I had recived but the case was closed and that I would need to call on Monday to speak to the correct team . Can they just close it without even seding me anything. My gaurentor ( my mum) is the prime on the account as I am unable to pay at the moment , I have called and asked for this to be changed but they said without my mums permission I cannot do this . Can they resind on the offer of settlement ?
Sara (Debt Camel) says
If you have an email saying that if you don’t reply that is an acceptance, then Amigo should pay out on the offer.
What exactly was the offer?
Zoe says
I dont know, i have to wait until Monday as the guy couldnt see any notes on offer just that it was closed
K says
Has anyone heard back from financial ombudsman about their complaint for interest/charges fee from non upheld loans? Interested to know where the FOS stand on this.
Sara (Debt Camel) says
Not that I have heard.
LEE says
I am waiting to hear the outcome of these too, I had over £2k whacked on in unpaid interest. I think the FOS queue is huge :/
C says
Hi Sara
My husband accepted Amigo’s offer of upholding the 4 biggest loans he had with them out of 8 loans in total. He received a cash refund of just over £5000 and he is now £268 a month better off as his existing loan is now settled. He gave me authorisation to speak to Amigo on his behalf and I asked them if he accepted the cash refund could he complain to the FOS about the unpaid interest charge which was just over £1000. Amigo said he could so we put in a complaint to the FOS about this charge. We failed to mention the 4 other loans that weren’t upheld though in the complaint to FOS. Are we able to add these into the complaint or can we not do that now the complaint has been sent. It’s not been assigned to anyone yet at FOS. Many thanks for your help.
Sara (Debt Camel) says
I suggest you email FOS and say the reason the unpaid interest was added was because Amigo said 4 loans were affordable but they weren’t so yoh would also like FOS to look at that as well as the unpaid interest issue.
C says
Will do thanks
S says
Anyone know how long it takes the FOS to come back with an answer after filing a compliant?
I’m worried that amigo might withdraw there offer and end up with nothing.
LEE says
There’s a fourth month backlog with FOS (last I heard). I escalated mine to them early May then contacted again in July and once i had received the final response to Amigo. Early August they informed me of the backlog, I envisage I may hear November/ December time
Siobhan McMurdo says
I sent mine to FOS April 2019, they got in touch with me in June/July of this year, still ongoing.
LEE says
I wanted to thank Sara for all of the help and advice on this site. Before finding it I had already entered into a DMP but hadn’t thought to make affordability complaints. I’d encourage anyone else who has pay day loans to think about putting together an affordability complaint. I was in a pretty horrific financial situation that was spiralling, thank goodness I addressed it!
So far I’ve had the following outcomes:
Likely Loans – upheld and all interest removed
118118 money – upheld and refund of interest I paid
MyJar – not upheld – with FOS who are investigating
Drafty – awaiting their final response
Amigo – partially upheld – in FOS queue
Jack says
Hi,
I submitted my complaints to x3 loan companies (Amigo. Bamboo, Uk credit) 8 weeks ago today, not one has come back with a response yet. Is there anything I can do to speed this process up?
Thanks
Jack
Sara (Debt Camel) says
I suggest you wait until tomorrow and phone each of them up and ask why you have not had a response. Tell them your complaint goes to the Ombudsman at the end of the week if they have not upheld your complaint.
Jack says
Hi
Thanks, if they acknowledge this week but don’t give a complaint and say they need more time , can I still send on to the to the ombudsman ?
Sara (Debt Camel) says
You can send them all tomorrow.
George says
Hi Sara,
Quick question please, what is the best report to use for past dealings with PDL going back to 2018.
I just want a list of who I borrowed from as evidence.
Thanks
George
Sara (Debt Camel) says
I suggest you get the free statutory reports from all three credit reference agencies see https://debtcamel.co.uk/best-way-to-check-credit-score/
DM says
Hi Sara, just wanted some advice on what to do. Sent my complaint to Amigo on the 26th Aug relating to loans from 2011£3k+£300 broker commission, 2012 £2570.67 top up (5k balance), 2015 £1241.03 top up (5.25k balance), 2016 2169.38 top up (7k balance) &2018 3182.78 top up (9.5k balance) and made payments of x14 x£161.01, x28 x£197.62, x15 x£207.51, x17 x£276.67, x30 x £375.49 = £26,868 total. Outstanding balance today is £7367.41 My question is that I did not realise that there was an additional top up in 2016 (included above) so I did not mention on the complaint or send bank statements for this top up. Should I look to request this info and send it on in the interim or just wait and see what they come back with based on the evidence I have already provided on the other top ups? Also looking through some of the posts, just wanted to understand that leaving aside the 8% stat interest, if they do not uphold all of the loans (say 1 and 3 are rejected) are they trying to deduct he full amount of outstanding interest from the dates they were settled off the final redress offer?
Sara (Debt Camel) says
Just send Amigo the bank statements saying you now realise you forgot to include the ones for this loan which was also unaffordable.
It’s hard to tell how they are calculating the unpaid interest but for old or large loans it can be a lot.
bob says
hello
can you update me on the situation once a refund has been offered.given it has been some time and relations between myself and guarantor have not recovered what is the position regarding those people who have paid their gurantor back directly yet amigo want to pay it back to guarantor.
making it impossible to get back
im guessing this could be a regular position .anyone know the score
Sara (Debt Camel) says
When was the refund offered? Have you been left owing Amigo money? Have you talked to the guarantor about this?
Bob says
Hello dont talk to guarantor unfortunately ,caused a lot of grief this .amigo were repaid .refund not offered yet but amigo missed the fos request for files three times .they have missed deadline again.apparantly fos say they have loads of issues like this with amigo
Sara (Debt Camel) says
Yes, all these complaints involving payments to guarantors seem to be on hold at the moment, mainly because of cases such as yours!
bob says
mines 9 months old now.they have jsut failed to respond with the business files for the ombudsman again ,thas the third time the fos have written to them and got no files
what is the storey ?do you have any info or thoughts on why they are on hold sara?
Sara (Debt Camel) says
It is just recently that cases involving repayments to guarantors seem to have gone on hold because so many people were saying that what Amigo was doing is unfair. Your case is a clear illustration of the issue. I think the failure to supply case file isn’t that important here as even with the case file my guess is FOS will have to reach a general decision on how to handle this class of complaints before it looks at the individual ones such as yours.
A Salik says
Hi Sara
Just wondering if your aware what percentage of cases are upheld by an ombudsman where the adjudicator decision was against a company and recommended they return over payments plus 8 percent interest.
I had an adjudicator ruled in my favour 2 months ago and TFS loans have today confirmed they don’t wish to accept their recommendations and want an ombudsman to review the case.
Sara (Debt Camel) says
For the Ombudsman service overall, it is 90%.
A Salik says
Thanks Sara
90 percent chance is still good I suppose.
Thanks for your response