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May 22, 2022 · Updated 17 October 2022 | Created 23 May 2022. If you were mis-sold a loan by embattled financial firm Amigo Loans then redress could soon be on its way after the High Court today (23 May) approved a complaints scheme to divide at least £112 million between affected borrowers.
Welcome to the Amigo Scheme Portal. Scheme Progress Update – 17th May 2024. We apologise for the delays in processing Scheme Claims. We have now issued over 207,000 outcomes, via email, to Scheme Creditors, representing 98.8% of the total Scheme Claims. We appreciate the frustrations for those who are yet to receive their Scheme Outcome.
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Will Amigo loans redress you if you've been mis-sold a loan?
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How much of Amigo's lending was top-up lending?
Mar 14, 2024 · Amigo often offered top up loans and the checks on these weren’t any better, even though people were getting deeper into debt. Repaying the first Amigo loan may have left you in financial difficulty, so a top up loan may have appeared to be a good option, even though it made your debt situation worse.
Mar 23, 2023 · 23 March 2023. Getty Images. By Jemma Dempsey. BBC News. Struggling high-cost lender Amigo has said it will halt all lending and wind down its business after failing to raise extra funds from...
Dec 15, 2021 · 15 December 2021. Thousands of Amigo borrowers, who were mis-sold loans they couldn't afford, are expected to get back less than half of the interest and fees they were charged by the lender, it's been revealed. In a newly published report, Amigo has proposed two different redress schemes.
On 23 May 2022, the High Court approved Amigo’s scheme of arrangement, which aims to provide redress to customers who were mis-sold loans and who raised a complaint. The Authority is satisfied that the imposition of a penalty could jeopardise Amigo’s ability to meet its commitments under the scheme of arrangement.
Jun 24, 2022 · 24 Jun 2022, 9:35 am. Follow Restructuring. The High Court in London has sanctioned subprime lender Amigo's New Business Scheme after creditors voted in favour of the scheme of arrangement.
