Full details of both schemes can be found on Amigo’s website. Complaints with Amigo are on hold until a redress scheme is approved. Tags: amigo amigo loans compensation Guarantor Loans Newsletter Your Email Your Name
This has hampered Amigo’s ability to operate and it has warned that unless its proposed scheme for dealing with compensation payments is approved, it may not survive. The lender provides loans to borrowers who struggle to obtain credit from mainstream lenders if a friend or family member can ...
In a U-turn, the City regulator has announced that it will oppose in court guarantor lender Amigo’s rescue plan, which would limit compensation payouts to borrowers mis-sold high-cost loans. Amigo sells loans at 49.9% APR, usually to borrowers with poor credit histories and guaranteed by th...
The struggling subprime lender had put forward a plan which would save the business but cap compensation pay-outs for customers. The Financial Conduct Authority (FCA) had alreadyopposed Amigo’s ‘scheme of arrangement’which the company proposed under part 26 of the Companies Act 2006. The High...