Reclaim guarantor loans for free 26 February 2020 at 5:05PM edited 26 February 2020 at 9:39PM in Loans 35 replies 8.2K views

[Deleted User]

No. It'll be based on the total redress.

dazzhardwick

My friend has a loan with amigo loan which doesn't seem to be going down. She pays in full on time but the loan amount doesn't get deducted right

[Deleted User]

If it's not going down, then she's paying late, incurring fees or not paying the correct amount.

Chances are though she's just misunderstood the figures.

[Deleted User]

Yes, although it will probably be a lot longer.

phone_angel

I acted a guarantor for someone through Amigo loans. My advice is don’t EVER GET INVOLVED as they are ruthless the minute the loan gets behind. They are super aggressive and intimidating.
I managed to get the loan settled eventually by the person who borrowed the money but Amigo put me through hell.

rendez2k

Just started a process with Reolver for 3 seperate guarantor loans. Wish me luck!

Cally71

Hi
I was a guarantor for my daughter,  she fell into arrears, I paid it off, she started a claim through a company, Amigo contacted me and offered me the money back so I took it, ( they didn't tell her or the claims company)
They have now added the monies paid back to me to her account which was clear, she has refused their offer and its gone to the ombudsman, in the meantime they are still chasing her for payment, is there anything she can do until it gets heard by the ombudsman ?

ManyWays

@Cally71
Not sure if you have heard but Amigo are trying to set up a Scheme so they pay much lower refunds. An ombudsman case will be passed back to Amigo if the Scheme goes ahead. I don't know what would happen in her complicated situation in the Scheme, but it's not good news that Amigo turned her down before. I suggest she should take debt advice on this. Her local Citizens Advice,

mamaden

Hi,
I have been offered compensation from Buddy Loans after submitting a claim. I have accepted & provided my bank details as requested. Does anyone know how long they will take to refund me? Thank you.

sourcrates

mamaden said:

Hi,
I have been offered compensation from Buddy Loans after submitting a claim. I have accepted & provided my bank details as requested. Does anyone know how long they will take to refund me? Thank you.

As fast as their company redress policy allows i would expect.