Amego loans urgent help.

Paul_DNAP

kazwookie wrote: »

Does your wife have any paper work? if so get it out and read it.

Try the small claims court to get your money back from exg/f

Start using social media to tell other what the exg/f did etc.

She will have no recourse against the GF in the small claims court. Being an Amigo guarantor means she has already agreed that she will happily accept this situation ahead of it happening.

foxy-stoat

Paul_DNAP wrote: »

She will have no recourse against the GF in the small claims court. Being an Amigo guarantor means she has already agreed that she will happily accept this situation ahead of it happening.

Depends if the Guarantor made the person who had the money sign an agreement to repay back the loan should they default. I suspect the fact that they didn't grasp what a guarantor loan actually was, there probably isnt such an agreement.

Paul_DNAP

foxy-stoat wrote: »

Depends if the Guarantor made the person who had the money sign an agreement to repay back the loan should they default. I suspect the fact that they didn't grasp what a guarantor loan actually was, there probably isnt such an agreement.

I highly doubt that too. If you're in the slightest bit concerned about them not paying it, then surely you would refuse to guarantee them, and not make them sign a supplementary agreement.


And I still have my doubts about how successful such an agreement and subsequent action would be.

foxy-stoat

Paul_DNAP wrote: »

I highly doubt that too. If you're in the slightest bit concerned about them not paying it, then surely you would refuse to guarantee them, and not make them sign a supplementary agreement.


And I still have my doubts about how successful such an agreement and subsequent action would be.

Blood from a stone would spring to mind.

Without such an "agreement" you will probably be unable to enforce the debt with the court - at least you can put a CCJ on them.

Paul_DNAP

foxy-stoat wrote: »

Blood from a stone would spring to mind.

Without such an "agreement" you will probably be unable to enforce the debt with the court - at least you can put a CCJ on them.

But would you even get the CCJ or would the court just say "well, you agreed to cover the loan if they defaulted in your guarantor contract, so you must just cover it" ?

foxy-stoat

Paul_DNAP wrote: »

But would you even get the CCJ or would the court just say "well, you agreed to cover the loan if they defaulted in your guarantor contract, so you must just cover it" ?

Guarantor loans do not work that way, the lender gives the money to the guarantor then the guarantor gives it to the person that tricked them into being a guarantor.

If they give them cash or bank transfer without any formal agreement between the 2 then there is nothing in writing to take to court.

Thats why its 100% better for the guarantor to just get a decent rate loan themselves and loan them the money - well its better for them to tell them to f off at the beginning.

Absinthe_Fairy

OP, I recommend having a read of this article https://debtcamel.co.uk/amigo-complaints-by-guarantor/ as there's a small chance your wife may be able to be removed as guarantor - no guarantees but worth a try, you've got nothing to lose.

katydo12

Gaz83 wrote: »

Whilst I sympathise, it sounds very much like your parents were just some more folk who happily signed up to being a guarantor without having the faintest idea what it actually meant.

poppy10 wrote: »

I come across loads of people who assume being a guarantor means that you are just vouching for the person's character. They think all they are doing is confirming, "yes this is a good chap, you can give him the loan." Even after signing all the paperwork they still have no idea that they are committing to repaying the loan if/when the person defaults.



Amigo is a scummy company and hopefully the FCA will clamp down on them in a future review.

ALthough I agree to some extent, I think that people who are guarantors actually trust that the person is going to pay the loan, my parents certainly did. And the person they did it for actually did repay a lot of the loan before they defaulted. I think it’s more about being too trusting of people. But then there’s that age old thing, if you can’t trust your family then who can you trust..

A very expensive lesson to learn.

Bermonia

Having read the article link from Absonth Fairy it would seem that you would have to claim that the loan was unaffordable at the time of taking - not sure how old the article is but I was under the impression that short term lenders got pulled up on insufficient checks quite a while ago now, as such a loan taken a few months ago is unlikely to fail affordability unless the applicant lied (then not down to lender if incorrect info given).

As others have suggested, get a loan out at a reasonable rate and pay off ASAP - perhaps soms ex gf will have a change of heart when emotions aren’t so high and become reasonable over the matter, if not apply social pressure through friends, family and social media.

onwards&upwards

katydo12 wrote: »

ALthough I agree to some extent, I think that people who are guarantors actually trust that the person is going to pay the loan, my parents certainly did. And the person they did it for actually did repay a lot of the loan before they defaulted. I think it’s more about being too trusting of people. But then there’s that age old thing, if you can’t trust your family then who can you trust..

A very expensive lesson to learn.

A lot of people will desperately try to keep paying for the guarantors sake, even sacrificing heat or food for themselves, or not paying crucial stuff like rent.

Others don’t care and stop at the drop of a hat. Human nature, sadly.

I agree they should be banned, far too easy for people to be coerced/manipulated/ guilted into this.