Thousands of Amigo borrowers expected to get back less than half of what they're owed

MSE_Rosie

Thousands of Amigo borrowers expected to get back less than half of what they're owed - but it's more than the payouts initially proposed. 

Read the full story here. 

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Ebe_Scrooge

Disappointing to read in that article: "The proposal comes as Amigo, which lends to people with poor credit scores......".  Come on, surely MSE staff of all people should know that a credit score has no bearing whatsoever on a lending decision?  Unless they're referring to internal credit scoring, in which case this should be made clear - there is enough misinformation and misunderstanding already surrounding the CRA scores.

mcpitman

Wow, sweeping, unfair statement.

Not everyone is financially educated. Not everyone has access to high street rates. Not everyone is a judgmental asshat.

MEM62

@mcpitman You really shouldn't feed the trolls.  It only encourages them   

mcpitman

MEM62 said:

@mcpitman You really shouldn't feed the trolls.  It only encourages them   

Can't argue with you I'm afraid, should know better!