Amigo loans

Ben8282 · 20 May 2017 at 3:44AM

Welshman2017 wrote: »

Hi im new to this forum but looking for some advice.
About a year and half ago i took a loan out with amigo loans and everything was running smoothly untill i found out HOW DID YOU FIND THIS OUT? WHO TOLD YOU? that my guarantor added not 1 but 2 members of the family without my consent!!. Obviously i wasn't happy with this WHY? WHAT EXACTLY ARE YOUR SPECIFIC OBJECTIONS and put numerous complaints in HOW MANY COMPLAINTS EXACTLY DID YOU MAKE? , but amigo seems to close the complaint with no othet means of replying and need to make another complaint and wait a further 8 weeks for another reply. So i looked in the loan agreement and unless I've missed it i can't see anywhere where it states the guarantor can add as many people as like without informing me see if im happy. So im now at my wits end and a top up and i can't have one due to the person who was added putting a stop to it.

So where do i stand and who i can contact in order to get these people off the loan agreement?

Any hejp would be highly appreciated.

Thanks Marcus

Giving you the benefit of the doubt for a moment and assuming these 2 extra family members have actually been added to the agreement, could you perhaps suggest a reason why a) the original guarantor would have done it and b) why the 2 other family members agreed to it.
It is also difficult to understand your objection unless you are intending to default and specifically want the original guarantor to have to pay and not the others.

Your comment that you are being prevented from getting a top up because one of the new guarantors has failed to agree to the top up has got me wondering and I would like to offer a possible scenario for consideration:
The original guarantor is now elderly and the other 2 family members have been given power of attorney over the original guarantor's affairs. Somehow, this fact has been communicated to Amigo loans who have added these 2 individuals as guarantors. These 2 family members are unhappy that you got the elderly person to stand as guarantor and are determined to prevent you from getting this top up as they have serious doubts that you will repay. Or something similar ...

sourcrates · 20 May 2017 at 1:07PM

Welshman2017 wrote: »

Hi im new to this forum but looking for some advice.
About a year and half ago i took a loan out with amigo loans and everything was running smoothly untill i found out that my guarantor added not 1 but 2 members of the family without my consent!!. Obviously i wasn't happy with this and put numerous complaints in, but amigo seems to close the complaint with no othet means of replying and need to make another complaint and wait a further 8 weeks for another reply. So i looked in the loan agreement and unless I've missed it i can't see anywhere where it states the guarantor can add as many people as like without informing me see if im happy. So im now at my wits end and a top up and i can't have one due to the person who was added putting a stop to it.

So where do i stand and who i can contact in order to get these people off the loan agreement?

Any hejp would be highly appreciated.

Thanks Marcus

I think the real issue here is that the fact you require "topping up" of a high interest guarantor loan, which most people would avoid at all costs, suggests you are in financial difficulties.

Is this money to consolidate existing borrowing ?

why not pop over to the DFW board, post an SOA, and see if we can help you stop the rot.

Welshman2017 · 20 May 2017 at 1:32PM

Unfortunately they have and it's been confirmed

Welshman2017 · 20 May 2017 at 1:46PM

Hi sorry for the late reply, i found out off my guarantor that she added her son and when i spoke to amigo about getting him removed, they informed me that they wouldn't because it was the guarantors wishes, then they informed me again after i had an argument with them that a 2nd was added which turned out that is was my guarantors daughter in law. But Both had no reason to be added as im not behind on any payments and the guarantor is only 64..

[Deleted User] · 20 May 2017 at 1:58PM

Crikey our credit union as a first timer with no prior savings even, only accepts a fiver (part of joining fee) and then they can consider you for loan - much better option?

IAmWales · 20 May 2017 at 2:00PM

Welshman2017 wrote: »

Hi sorry for the late reply, i found out off my guarantor that she added her son and when i spoke to amigo about getting him removed, they informed me that they wouldn't because it was the guarantors wishes, then they informed me again after i had an argument with them that a 2nd was added which turned out that is was my guarantors daughter in law. But Both had no reason to be added as im not behind on any payments and the guarantor is only 64..

For what reason have additional guarantors been added?

For what reason do you object to having additional guarantors? If you're keeping up your payments does it make a difference to you?

Welshman2017 · 20 May 2017 at 2:06PM

I only turned to amigo loans because my previous relationship was a disaster with my ex mrs left me in aload of debt and messed my credit history up and couldn't get a loan anywhere else.
My rejection was because i don't like my financial business shared with other family members. And i have made 3 complains in total

IAmWales · 20 May 2017 at 2:11PM

Welshman2017 wrote: »

I only turned to amigo loans because my previous relationship was a disaster with my ex mrs left me in aload of debt and messed my credit history up and couldn't get a loan anywhere else.
My rejection was because i don't like my financial business shared with other family members. And i have made 3 complains in total

If you didn't want your finances shared with family you shouldn't have asked a family member to be a guarantor. They are a party to the contract too. Even if they didn't add the additional guarantors, they would still be free to discuss it with whoever they wish.

What do you want out of this? You've suffered no loss so I can't see that a complaint will get you anywhere.

(And please do not take out any further borrowing!)

DCFC79 · 20 May 2017 at 2:20PM

What's the exact issue, is it the fact a second person has been added, well get the loan paid off and don't take out anymore loans.

StopIt · 22 May 2017 at 8:51AM

Welshman2017 wrote: »

I only turned to amigo loans because my previous relationship was a disaster with my ex mrs left me in aload of debt and messed my credit history up and couldn't get a loan anywhere else.
My rejection was because i don't like my financial business shared with other family members. And i have made 3 complains in total

You waived your rights to have your business being private when you asked a 64 year old as a guarantor to a high interest loan.

If she was my mum I'd be livid that someone was potentially exploiting her too and take similar action.

The very fact that you're trying to get more money from Amigo, backed by the same guarantor of course is proof that they have every reason to object.

Pay off the loan, or if you're struggling, get to the DFW boards and address your debt crisis you're going through.

Amigo loans

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