Amigo Loan is refusing to pay out

[Deleted User]

Hello, 
I complained to Amigo Loans in November 2019 for irresponsible lending. I was a student and could ill afford to repay it. The stress of it affected the bond I had with my son whom they stressed out and me as well with constant threats so much so that I took my complaint to the financial ombudsman who said that although he could hear in telephone conversation that they did threaten my son, it was for payment. Their action has affected my son to this day because he was only 22 when I took the loan out, it was an absolute nightmare and I got myself into even more debt to try and pay off this loan to remove the constant threat from our lives. I was studying for a degree at the time, the loan was for £1, 000 and then it was topped up to £3,000. They took 12 weeks to reply to my complaint which was made in November 2019 and they did not reply until February 2020 to reject it and asked for the remaining balance to be paid off. I became ill with flu and could not appeal to the financial ombudsman straight away. I knew I had 6 months to complain but then the pandemic hit and I put if off until I thought the ombudsman might reopen after lockdown. Then on June 2nd 2020 they wrote to me out of the blue to apologise for their reply to my complaint and offered to uphold my complaint out of 'goodwill'. They said they would refund the interest paid plus 8% simple interest (no mention of refund for numerous late payment charges they applied to my account in the 4 years i had the loans out with them and which made my situation even worse. I accepted their offer and they said the money would be in my bank account within 3-5 working days. It is now 9 working days and still nothing. Can they change their minds and go back on their word if so what can I do about it? Can I go to the small claims court and reclaim the refund plus compensation for all the stress they caused me and my guarantor? 

[Deleted User]

victimofthe.storg said:

Hello, 
I complained to Amigo Loans in November 2019 for irresponsible lending. I was a student and could ill afford to repay it. The stress of it affected the bond I had with my son whom they stressed out and me as well with constant threats so much so that I took my complaint to the financial ombudsman who said that although he could hear in telephone conversation that they did threaten my son, it was for payment. Their action has affected my son to this day because he was only 22 when I took the loan out, it was an absolute nightmare and I got myself into even more debt to try and pay off this loan to remove the constant threat from our lives. I was studying for a degree at the time, the loan was for £1, 000 and then it was topped up to £3,000. They took 12 weeks to reply to my complaint which was made in November 2019 and they did not reply until February 2020 to reject it and asked for the remaining balance to be paid off. I became ill with flu and could not appeal to the financial ombudsman straight away. I knew I had 6 months to complain but then the pandemic hit and I put if off until I thought the ombudsman might reopen after lockdown. Then on June 2nd 2020 they wrote to me out of the blue to apologise for their reply to my complaint and offered to uphold my complaint out of 'goodwill'. They said they would refund the interest paid plus 8% simple interest (no mention of refund for numerous late payment charges they applied to my account in the 4 years i had the loans out with them and which made my situation even worse. I accepted their offer and they said the money would be in my bank account within 3-5 working days. It is now 9 working days and still nothing. Can they change their minds and go back on their word if so what can I do about it? Can I go to the small claims court and reclaim the refund plus compensation for all the stress they caused me and my guarantor? 

Did you ask your son to be your guarantor?  I can't see how you can blame Amigo for any fall out between you and your son because you asked him to act as your guarantor for a loan you couldn't really afford in the first place which you then topped up.  How exactly would you quantify the stress caused by your irresponsible borrowing and the impact on you and your guarantor?

Amigo have decided to uphold your complaint.  You haven't received the money yet so have you tried contacting Amigo to ensure they hold the correct bank details for you?  If you aren't satisfied with Amigo's offer then you can still take your complaint to FOS.

[Deleted User]

Excessive demand for payment under The Administration of Justice Act 1970 

[Deleted User]

victimofthe.storg said:

Excessive demand for payment under The Administration of Justice Act 1970 

What's that got to do with the price of fish?

[Deleted User]

I don't normally reply to trolls. I was asking on this forum hoping that someone in the know would advise like Martin Lewis 

[Deleted User]

They've upheld your complaint.

There's no point in taking legal action where you are more likely to lose and even if successful, are unlikely to be awarded the 8% compensation you're currently set to receive.

superbigal

The refund may well be in the bank account of the Guarantor.  Best check.

sourcrates

Perhaps you should be talking to Amigo about this ?

Like most other companies right now, most are still working from home.

MinuteNoodles

victimofthe.storg said:

Excessive demand for payment under The Administration of Justice Act 1970 

If your son was the guarantor then demanding payment from him when you broke your contract is not excessive demand.

If you used your son as a guarantor then you're the reason the bond with your son was affected, not the actions of Amigo Loans. I wouldn't ever dream in a million years of putting any of my family in such a situation so I really hope that's not what you did.

jonesMUFCforever

The OP has left the stage - perhaps the Mods could now close this thread.