 across this website last night and had a good read over most of the pages. I got caught up in the payday trap when I was 18. I ended up in a DMP not long after, but since clearing that account I’ve struggled with money since.
My question is regarding an Amigo loan. I took out:
£5000 in July 2015
I then took a top up of £7000 in June 2016; £7500 in August 2016; £9500 in March 2017; and £7000 in February 2018.
In jan this year, I paid a lump sum of £5000 from inheritance. I then wasted to lower the monthly payments but the only way to do it was to re apply for a new loan contract which funnily enough meant borrowing another £500!
They’ve had thousands and thousands off me as I’ve been paying on time every month since the original loan back in 2015. My guarantor is my best friend from school so I never wanted it to affect her.
What do you think?
I’m just starting my process and I’ve send off the first emails to all of my old creditors. I’ve found this site and all th comments very useful and encouraging.
Thanks :)
Sara (Debt Camel) says
That is a lot of top ups, these cases may be easier to get something back on as there is the element of repeat borrowing – Amigo should have asked themselves why you kept borrowing. One thing to look out for is whether you said you would use the loans for debt consolidation and then you didn’t… Amigo should have noticed this!
Definitely go after the old payday loans as well, getting any money back from them will help you get rid of this guarantor loan curse and you can still go for a refund from Amigo.
Tom says
Hi Sara,
Thanks for your reply!
I suffer with bipolar disorder (under control now) one symptom of which can be excessive spending and taking risks, but at the time of all my payday loans, I kept using most of the accounts every month because I was being left short. I sent your template for the first request and there were around 10 lenders on the list.
I’m hoping something comes from this because the whole financial situation made me ill from stress, and this stress has followed me since.
I also had a Vodafone contract back in 2015, and I had a bit of a gambling issue at the time. I found a mobile casino website where you could deposit funds £30 a day from your mobile bill. I ended up racking £900 in charges. Shocking amount.
I also put it off so long for all of them because I didn’t want to deal with the stress again. But I feel like I’m making the steps finally to resolve all of this :)
billy says
Thank you for your email and the additional information that you have provided to us.
Having received this, I can confirm why our agents were previously unable to locate your details earlier on.
In order to remain compliant with the new GDPR regulations, we now ensure that we do hold customer information for any longer than necessary. Your loan was paid out over 6 years ago and was settled in 2013, more than 4 years ago., and are unable to raise a complaint on your behalf.
I understand this may be disappointing for you, and thank you for your time in getting in contact with us.
Kind Regards
Hannah Johnson
Customer Relations
Amigo Loans
On
Billy says
Hi Sarah,
I’ve just emailed a reply from Amigo telling me they don’t have any details of the loan although they can tell me when the loan was paid and hen it was paid off, am livid as the dates are totally wrong! I have credit card details to back me up also have Barclays statements saying the money from Amigo was paid in August 2012, Amigo say it was paid in 2011, although they insist they don’t hold any records after 4 years!
Gareth Gough says
Hi Sara,
I have currently put a complaint it regarding Amigo. I borrowed 2250 May 2017, then topped up to 3000 in June 2017, then topped up to 7000 in August 2017 and finally 8250 in November 2017. Each occasion I just completed their online form (which would tell you if something was affordable or not – which in my view encourages people to try and make their outgoings fit the system) and had a follow up conversation with a call handler – not a very detailed discussion. Amigo rejected the complaint so I sent in to the FO. Given the 3 close together top ups do I have a chance of some partial success? Also more impotently if the FO decides the loan is unaffordable – could Amigo then just move the whole debt responsibility to the guarantor?
Thanks, Gareth
Sara (Debt Camel) says
“Given the 3 close together top ups do I have a chance of some partial success?” yes. It is often easier to win for the later top ups than the first loan. For example if you told them you were taking the loan to consolidate debt, then they can see when you apply for a top up that you didn’t.
“Also more importantly if the FO decides the loan is unaffordable – could Amigo then just move the whole debt responsibility to the guarantor?” No. If Amogo decide the loan is unaffordable, they should remove the interest so you only repay what you have borrowed and agree an affordable repayment amount with you.
T says
Hi. I found your site through Google but wish I had found it sooner! I have written to 2 guarantor loan companies to make a claim for irresponsible lending. I wonder, if I upload this, you could advise whether this was the right information to include. Step Change advised me to contact them, but did not really say what I should include. I won’t upload just now in case, but will post again if there is someone that could help. Thanks
Louise says
Has anyone had any success with UK Credit? Direct from lender or with FOS? I got rejected on on my latest one and just starting complaint with lender for previous loan with them…I looked at the ombudsman data and could only find 3 cases for UK Credit.. obviously only ombudsman level show..they were all not upheld..any successes?
Sara (Debt Camel) says
They aren’t a big lender and these complaints are quite new. I don’t remember the result of one at the adjudicator level.
Soph says
Hi Louise
I have a complaint against UK Credit. They rejected at 8 weeks and so was sent to the FOS. I have just been contacted by an adjudicator this week to say they have picked up my case and they have everything they need to now start looking into it. Hopefully not too long now till I get their decision. I will update how I get on.
Louise says
Many thanks, please do let me know..it’s interesting to know as well as they are so new.. I’ve not long sent mine to FOS and have another one with UK Credit now for an earlier loan…good luck Soph :-)
Jeff says
Hello,
I previously had a guarantor loan with Amigo and wonder if i have grounds for a complaint.
I had been gambling for many many years and used payday loans and other “bad debt” loans to get by. When I got the Amigo loan i already numerous defaults, late payments and was on a DMP (which they verbally acknowledged on the phone with me). I cant remember if they needed bank statements or what i filled in exactly on the I&E but i imagine i would have been desperate and most likely not been truthful in the answers. My statements would have highlighted many very large gambling transactions and other large debt repayments and bank fees every month from returned direct debits and going over my overdraft limits.
Do you think this constitutes as irresponsible lending? I never missed a repayment and ultimately was able to pay it all back early with a family loan to save interest.
Sara (Debt Camel) says
I think that a lender offering a large, high cost loan should do good checks to make sure it is affordable. So yes this is worth a complaint.
Gareth P Gough says
Hi All,
Has anyone got any success with Amigo? I tool out a loan May 2017 for 2250 and 4 more until in reached 8250 in Nov 2017. Amigo only spoke to me on the first loan – this basically meant more due diligence on the 1st loan that the higher amounts. 5 loans in 6 months lso feels like quite a lot? The guarantor is my Mum, who is retired. She has an occupational pension and state pension.
I have already paid around 4500 to Amigo – I really hope I get some success with this as the 350 a month I am paying is quite difficult each month.
Sara (Debt Camel) says
Yes – and success is most likely where there have been top-ups. In your case, 5 loans in 6 months is a very large amount!
Amigo should have assessed whether each top up was affordable for you and also for your mum. You may not want to worry here, but you could encourage her to put in a complaint too?
The template letter above asks Amigo to supply a SAR (all personal information) if they reject it. I suggest you should send the case to the Ombudsman if they do reject it, but getting the SAR details a few weeks later may give you useful ammunition to add to the FO complaint. Good luck!
Jane Rutherford says
Hi all,
H