PAY DAY LOAN RECLAIM (GUARANTOR DEATH)

charn2908

HI, 

i am currently trying to reclaim a miss sold loan from amigo.

i started this in February 2021 and its bee a long process, i am due back a substantial amount.

the problem that has risen is that it was a guarantor loan and at the time my guarantor (father) paid back the loan and i paid it back to him as he wanted to know each month it was being paid.

i have had my reclaim back but they have taken any payments made by my guarantor off the claim, they have said the guarantor had to make this claim in order to get this back.

i was aware of this but my guarantor (father) died a couple years before i made the claim so it was not possible for him to make this claim i am a trustee of his estate so i felt i can rightly make a claim on mine and his behalf.

this has now gone to a scheme adjudicator but i want to know is this something they can do? or am i right in that i can claim this back?

Nasqueron

If you have the authority to put in a miss-selling complaint on behalf of the guarantor, then you could do but you would need to check if the scheme will allow any new claims given it was all agreed and closed off. 

retiredbanker1

IMO - forget about this - you will not get a penny - it looks like they are struggling to pay a few pennies in the pound to existing claimants.

You will be wasting your time.

sourcrates

You will be due around 17p in the pound, that`s best case scenario.

This from their website -

"We remain in discussions with the Scheme Supervisors regarding the timing and level of the interim dividend payments and anticipate declaring an interim dividend in April or May 2024. We remain confident, at this stage, that total Scheme Payments will not be less than 17 pence in the £".

I would not bother to be honest, its quite likely they may fold completely before they pay anything.