amigo Guarantor Loan Refund Claims
amigo Loan Refunds - Financial Conduct Authority (FCA) launching an investigation into amigo Loans irresponsible lending claims.
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Reclaim interest on your Amigo Loans. Have you been mis-sold a guarantor loan form Amigo?
Amigo is a UK based direct lender specialising in loans for people who are self-employed, have low credit scores, have County Court Judgments (CCJ) or who simply find it difficult to get a loan from other providers.
Amigo will ask you for a guarantor – that’s a friend or family member who trusts you and who will back your loan by agreeing to step in if you ever miss repayments. They offer borrowers loans of £1,000-£10,000 over 1-5 years, with loans of under £2,500 available over terms of 1-3 years.
Amigo Loans was in the spotlight during June 2020, with the Financial Conduct Authority launching an investigation into the “creditworthiness assessment process of subprime lender Amigo Holdings“. This news means that if you have had a loan with Amigo in the past, and could not pay it, you may be eligible for a claim against amigo and potentially a refund for all the interest paid plus 8%.
90% of affordability complaints are being upheld against Amigo Loans, with more and more people claiming against the company for mis-sold credit. Amigo has even been referred to as a “legal loan shark” by members of Parliament. Reports also confirm that Amigo initially set aside £26.6 million to deal with affordability complaints.
Further reports have recently been published concerning Amigo Loans, with the firm “facing a £35 million back of complaints” and the Financial Conduct Authority (FCA) launching an investigation into Amigo’s “assessment process for customers creditworthiness‘. The Amigo Loans company was due to be sold to an unnamed buyer earlier this year, but this deal fell through after the increase of valid customer complaints and the amount needed to settle these claims was disclosed.
If you have borrowed a loan from Amigo and found that you were unable to pay the loan you could be eligible to claim compensation. Start your claim or get in touch with the experienced Reclaim Experts team who will guide you through the process.
What type of loans do Amigo offer?
– Guarantor Loans
– Bad Credit Loans
– Wedding Loans
– Self Employed Loans
– Vehicle Loans
– Debt Consolidation Loans
Amigo Eligibility Requirements for Borrower:
Minimum age of 18 and not be in active bankruptcy (which means that you have filed for bankruptcy and your case is ongoing)
Amigo Eligibility Requirements for Guarantor:
Minimum age of 18, with a strong credit history or be a UK homeowner.
Must be able to make the repayments if the borrower does not pay.
Amigo Loan Example:
Representative Example: Borrowing £4,000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9% (variable). Subject to status.
Amigo Loans is registered at the following address:
Amigo Loans, Nova Building, 118-128 Commercial Road, Bournemouth, BH2 5LT.
Telephone Number: 01202 560 996
Have you used Amigo for your loan and found that you were unable to pay the loan? You could be eligible to claim compensation. Start your claim or get in touch with the experienced Reclaim Experts team who will guide you through the process.
Why could I receive an Amigo Refund?
If any of the above statements apply to your experience with Amigo, you could be eligible to claim compensation. Start your claim or get in touch with the experienced Retail Experts team who will guide you through the process.
We are here to help.
You may be able to reclaim interest on your Amigo loan. Start your claim for irresponsible lending by Amigo Loans Today!