Amigo loans Scheme - anyone else received a text?

MoonChild91

I received the text below earlier today, but cannot make head nor tails of what it means or whether it affects me - I am not the most jargon-savvy of people. To clarify, I stood as guarantor for a loan which was completely paid off last year and have had no dealings with Amigo since. Has anyone else received this or can explain what it means and who it affects?

ACTION REQUIRED

If you have taken out or guaranteed a loan with Amigo, you may be affected by a scheme of arrangement that ALL Scheme Ltd is proposing with its creditors. You may be a creditor if Amigo owes you compensation. Please go to www.amigoscheme.co.uk and read the 'Practice Statement Letter' which provides important information about the process. You should do this as soon as possible. If you do not act promptly, you will lose the opportunity to vote at the Scheme meeting, expected to be in late-April 2021. Further, if the Scheme is approved and then you do not make your claim in the Scheme by the claims submission deadline (expected to be in mid-November 2021), you will lose your opportunity to submit a claim in the Scheme.

Retiredwelshman

1 Have you had any Amigo loans?
2 Have you ever been a guarantor for an Amigo loan?
3 If yes to any of above have you ever made a claim for a missale?

If so they are entering into an agreement to prevent claimants basically bankrupting the business by limiting the amount of compensation you will receive, even if you win your case.

If no to any of above - ignore.

MoonChild91

Thanks, like I said in OP I had no issues with the loan I guaranteed so looks like this doesn't apply to me!

sourcrates

It will be a generic message sent to all Amigo customers, as they have entered a scheme of arrangement, if it did apply to you, you should follow the instructions.
As it doesn't, you can ignore it.