As an expert in the field, I can confirm that Amigo Loans has started making payments to plan creditors for confirmed claims. This process begins once the bank details have been updated on the plan portal. One important thing to note is that Amigo does not charge any commissions. However, if you found Amigo Loans through a loan broker, you may have been charged a fee for their services, even if you did not end up applying for a loan with us. Loan brokers have different ways of charging their commissions.
Some may charge it as a debit card payment before you receive your loan, while others may add it to your loan amount. Regardless of how the commission was charged, you can still make a complaint and potentially receive a refund. It's important to understand that you will not be reimbursed for the original loan amount. This is because you have already benefited from the loan itself. If you have not made any payments or have only used up half of your loan, you may still have an outstanding balance that needs to be repaid.
In the event that your lender goes bankrupt and you decide to file a complaint, it is crucial that you continue making payments as usual. If you stop making payments, it can negatively impact your credit rating and your guarantor may be asked to make refunds. At our website, we strive to provide the best money-saving guides, tips, tools, and techniques. However, we cannot guarantee that they are perfect. Therefore, please use the information at your own risk and understand that we cannot accept responsibility if things go wrong.
Our website serves as a resource for information on potential claims and should only be used as guidance and not as official financial advice. The recent news states that if you have had a loan with Amigo in the past and were unable to repay it, you can file a claim against Amigo and potentially receive a refund of all interest paid plus 8%. In their report, Amigo has proposed two plans for compensation claims for improper sales. One plan offers 29 pence for every 1 pound owed, while the other suggests 42 pence per 1 pound. For example, if your claim is valued at £1000, you are likely to receive a dividend payment of £170. The total cash value claimed by a guarantor is the value of the payments they have made, once the refunds in full (and the reinstated interest) have been taken into account.
You can start your claim or contact our experienced RefundHQ team, who will guide you through the process. Please note that once your claim has been referred for an award, the independent judge overseeing the process will not accept any additional information. In addition to this, Amigo has agreed to:
- Confirm to the FCA, upon request, the details of Legacy Claims customers who have not been paid
- Pay compensation for inherited claims (with the same percentage of payment received by Plan creditors) within 7 days from the date any payment to the Plan was made, using assets that have not been allocated to Plan creditors
While your claim is being reviewed and resolved, it is important that you continue making your payments as agreed, unless we inform you otherwise. The total value of a borrower's cash claim is the value of eligible payments made in excess of the amounts originally borrowed, on their confirmed loans, once the repayments have been considered in full.
