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Amigo Loans - Final Response Issued

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I'm after some advice.


I took out an Amigo Loan in 2017 and sadly had to top it up in 2018 totalling to £8,000 borrowed.

I submitted an affordability complaint January 2020 and finally got a final response from them 2 weeks ago.

They offered almost £5,000 redress.


Having looked at the appendices at the bottom of the email with the amount still outstanding on the loan it gave me a total cash refund of £1,179.19.

The complaint was with the financial ombudsman also at the time of receiving this offer.

I called the adjudicator and he looked over the final response and agreed that the amount offered was fair and it was unlikely to change.

I called Amigo Loans back and accepted the offer in the final response.


Last Friday i received a credit in my personal account of £375.19.

I immediately contacted Amigo Loans and after several hours of waiting the complaint handler called me back and asked how she could help.

I explained the redress paid back to me was some £800 short of the accepted offer and i'd received no correspondence to suggest the figures were incorrect.


She went on to tell me how she personally had made an error in the calculations and as such i wasn't entitled to the £1,179.19 and that i was only entitled to what i'd received.


She offered £100 goodwill payment given it was a mistake however I naturally asked her not to insult me and didn't take the offer of goodwill.

I'm waiting for the financial ombudsman to get back to me.


Am i likely to get what was addressed to me on the original email or am I better off leaving it where it is 

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who knows

thats for the fos to decide

if they did actually look into it properly

or just decided that the £1200 refund addressed any issues that might be there suitably enough without looking further into it.


now they might.



please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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The redress calculation is pretty straightforward- from my understanding it should consist of all interest payments made servicing the loans that are being remediated with the addition of 8% annual interest. They will deduct 20% of the additional 8% Interest for tax purposes. They will deduct this number from the outstanding loan balance that you have. 

tbh- I don’t think there is much scope to get more money if there has been a calculation error. The redress amount has little scope for discretion. It’s just irritating that you were told the wrong number in the first place. 

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