Amigo Loans sending pound coins to applicants

Jeff_Bridges_hair

Dan_Atkinson wrote: »

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To me however, sending someone with serious debt problems a pound coin is like handing a balloon to someone who's drowning - completely pointless.

!

Well I think a balloon may help them stay afloat as an admittedly poor bouyancy aid so your analogy is as bad as them sending your wife a quid.

CACHAF

A long time ago my husband and I both had very short terms loans from flm who are part of amigo. Last week he got a letter with a pound coin attached saying that he could have another loan (no way - we have no loans now) and there were 5000 more where that came from. The next day I got a letter from them and was all excited but mine just had a photo of a pound and no coin! I was gutted

Seriously though, I agree that it is a poor tactic to use, aimed at people who are struggling. We havent decided what to do with our pound yet, we cant get the bloomin glue off the back yet!!

CKhalvashi

This has come to light through another method for me.

I'm on the phone to the FCA now, who are looking into it.

ConsumerWizkid

Lol seriously? No one should care that your wife received a free pound. Is it that merely seeing the coin alone will send her into a borrowing/spending frenzy?

It's an advertising gimmick. A strangely expensive one perhaps but not illegal nor irresponsible.

CKhalvashi

ConsumerWizkid wrote: »

Lol seriously? No one should care that your wife received a free pound. Is it that merely seeing the coin alone will send her into a borrowing/spending frenzy?

It's an advertising gimmick. A strangely expensive one perhaps but not illegal nor irresponsible.

Their marketing strategy is irresponsible, whichever way it's dressed up. The FCA have taken this view today, too.

SimonSays

Dan_Atkinson wrote: »

Hi everyone! Thanks for all the feedback.

Clearly I am too tightly wound and completely missed their humour. You're/they're right in that it wasn't a publicity stunt, given that, as has been rightly pointed out, it was direct mail, but I do find it gimmicky in a very bad way.

To me however, sending someone with serious debt problems a pound coin is like handing a balloon to someone who's drowning - completely pointless.

I considered donating the money to charity but it belongs to the wife, so I imagine it's being used to buy something to feed her cravings.

Thanks again!

She has some nice tattoos so maybe the quid can go towards finishing her unfinished tattoo

[Deleted User]

Bantex wrote: »

Wait till you get the statement and find that the £1.00 has accrued interest of thousands over a few months.

They can't charge interest, as the £1 was a gift.

MothballsWallet

CKhalvashi wrote: »

Their marketing strategy is irresponsible, whichever way it's dressed up. The FCA have taken this view today, too.

Really? They're actually doing something and not just sitting on their behinds in their London HQ doing nowt?

Wow, I'm surprised. A UK government regulator that's actually trying to earn their pay for a change...

CKhalvashi

MothballsWallet wrote: »

Really? They're actually doing something and not just sitting on their behinds in their London HQ doing nowt?

Wow, I'm surprised. A UK government regulator that's actually trying to earn their pay for a change...

I don't know what they're going to do about it, but I was asked to check it by someone off the site, therefore did.

I'd bet that nothing will be done, but that's just me.

tomtontom

CKhalvashi wrote: »

This has come to light through another method for me.

I'm on the phone to the FCA now, who are looking into it.

I got sent free Haribos with my new trainers. Can you report it to the Fat B****** Institute for me?