Could I be removed as guarantor? Amigo Loans

JayRitchie

robatwork wrote: »

If he ever gets any money or full time employment then you can haul him to court.

Out of interest is this true?

worried_jim

JayRitchie wrote: »

Out of interest is this true?

Would they be bothered about a CCJ from a sucker member of the family? They have sweet FA already.

JayRitchie

worried_jim wrote: »

Would they be bothered about a CCJ from a sucker member of the family? They have sweet FA already.

I get your point - although the PP raised an interesting question. What if hapless doesnt pay their way and the guarantor picks up the bill, but 5 years later is in a decent job? Or does a runner and is tracked down after a couple of years. Can the guarantor take legal action?

My initial thought was that they couldn't given the way Amigo loans seem to be structured (at least without some side contract in place).

fc92

In reply to the those on here stating I should have taken the lesson and moved on, you were wrong.

I would say to anyone who finds themselves in a similar situation to take their case to the ombudsman. It was a long wait, but their investigation found that Amigo were in fact wrong to ever pay out the loan, and their credit checks were no where near in depth enough.

Thank you for the advice, but mostly to Martin Lewis who after watching one morning made me take my case to the ombudsman.

[Text removed by Forum Team]

Have a good week everyone. :money::j

Darkslider

Sounds like you got off on a technicality, it should be made clear that your case is the exception rather than the norm for anyone else considering entering into an amigo loans agreement. My current girlfriend is still paying off an amigo loan of her exes after she was forced (it was a violent and abusive relationship) into being a guarantor for him prior to the relationship breakdown. Even in these circumstances Amigo loans couldn't care less, despite being furnished with crime reference numbers for his behaviour so think yourself extremely lucky you've got off the hook with this one and don't make the same mistake again!

sourcrates

Darkslider wrote: »

Sounds like you got off on a technicality, it should be made clear that your case is the exception rather than the norm for anyone else considering entering into an amigo loans agreement. My current girlfriend is still paying off an amigo loan of her exes after she was forced (it was a violent and abusive relationship) into being a guarantor for him prior to the relationship breakdown. Even in these circumstances Amigo loans couldn't care less, despite being furnished with crime reference numbers for his behaviour so think yourself extremely lucky you've got off the hook with this one and don't make the same mistake again!

Did she go to the financial ombudsman ?


A good percentage of complaints about guarantor loans as a whole, not just amigo, have thrown up inadequate income and credit checks by the lender, so its not a technicality, its due dilligence not been adhered too.

fc92

I think given I'm in Scotland, and that they checked literally nothing at all before allowing me to agree to £10,000 credit helped my case, yes.
Also, did she go to the ombudsman? I went to lawyers, citizens advice and debt management - they all said I would have to repay. It was only upon going to the ombudsman and following their own complaints procedure did I get any breakthrough. They do have the final say, so if she hasn't done this I would suggest to do so. If I hadn't seen Martin Lewis on this morning taking about the payday loan situation and ways to deal with unfair cases.

Willing2Learn

Good grief.

Since this thread has been resurrected, I thought I might as well provide a link to DebtCamel and their article on how a guarantor can ask to be removed as the guarantor. This could be used by the guarantor:

• if you couldn’t afford to repay the loan without difficulty; or
• you were pressured into becoming the guarantor; or
• you didn’t understand the implications of being a guarantor.

Anyway, here is the link for you:
How to complain when you are the guarantor for a loan


Good luck!!!

Jonathan_Kelvin

fc92 wrote: »

I think given I'm in Scotland, and that they checked literally nothing at all before allowing me to agree to £10,000 credit helped my case, yes.
Also, did she go to the ombudsman? I went to lawyers, citizens advice and debt management - they all said I would have to repay. It was only upon going to the ombudsman and following their own complaints procedure did I get any breakthrough. They do have the final say, so if she hasn't done this I would suggest to do so. If I hadn't seen Martin Lewis on this morning taking about the payday loan situation and ways to deal with unfair cases.

This is unusual. Could you post the case number so people can understand what happened, or scan the decision in, with the personal information redacted?

boo_star

Willing2Learn wrote: »

Good grief.

Since this thread has been resurrected, I thought I might as well provide a link to DebtCamel and their article on how a guarantor can ask to be removed as the guarantor. This could be used by the guarantor:

• if you couldn’t afford to repay the loan without difficulty; or
• you were pressured into becoming the guarantor; or
• you didn’t understand the implications of being a guarantor.

Anyway, here is the link for you:
How to complain when you are the guarantor for a loan


Good luck!!!

There are various quirks to that case that make it so utterly specific that it can't reasonably be used as a template for a complaint for 99% of the population.