Amigo Loans

johndawgylt

Hi, there was lots of discussion about the redress and I claimed. I was told that I would not be paid out, so I challenged this through the amigo portal. Today I received an email from them saying my claim was upheld in full, and to wait for further correspondence regarding redress amount etc. 

I’m wondering if anyone else did the same and got this outcome?

Cheers

sourcrates

They may have upheld your complaint, but you will not receive a full refund of interest etc, as you might have done otherwise.

Amigo are in the process of being wound down, and having been refused permission to enter a scheme of arrangement, they have opted for the, what they term, the "fallback solution" instead.

This will see customers getting a pay out of 17pence in the pound.

Amigo Loans Scheme | Scheme of Arrangement (amigoscheme.co.uk)

Jonno121

Hi, I have received confirmation today that my claim was upheld. As stated above,  they have advised it will not be less than 17p in the pound.  The total claim amount was £8881. Not sure what happens if I don't accept the offer. Any ideas or advice on whether to accept or push back. Many thanks. 

MorningcoffeeIV

If you don't accept the offer, then you won't get anything.

It may be that they will then use that money - and that of anyone else who doesn't want their offer - in increase the amount paid to those who accept the redress, so you will at least be benefitting others, albeit by a very small amount.

Nasqueron

Jonno121 said:

Hi, I have received confirmation today that my claim was upheld. As stated above,  they have advised it will not be less than 17p in the pound.  The total claim amount was £8881. Not sure what happens if I don't accept the offer. Any ideas or advice on whether to accept or push back. Many thanks. 

The company went into administration and that was the agreed amount to pay back to creditors. You cannot push back and ask for more, the administration deal is fixed.

At the end of the day, you had a loan and paid it back - their irresponsible lending means you get some partial refund on top of the loan.

Sam7415

Hi I paid all my loan back ,did Struggle with some of the payments due to my circumstances changing should I accept this offer the loan was for £3000, my guarantor paid at least half back , yet they have offered £30 do I accept 

dunstonh

Sam7415 said:

Hi I paid all my loan back ,did Struggle with some of the payments due to my circumstances changing should I accept this offer the loan was for £3000, my guarantor paid at least half back , yet they have offered £30 do I accept 

 As already mentioned a couple of times above, the company went into administration.  If you don't accept you don't get anything and the money will be redistributed to other creditors.

Sam7415

Thankyou ,I suppose £30 is £30 lol , thanks for the advice