Guarantor Loan Complaints
When you applied for a Guarantor loan the lender should have checked to see if the loan is affordable to you before allowing you to borrow the money. Just because you had provided someone who would “guarantee” the repayment of the loan, does not give the lender the right to ignore affordability.
We know that Amigo lent to a lot of people who could not afford the repayments, they did this as they were looking to sell the company and they wanted to make it look better that it really was, by having more customers on its books.
They admitted this and changed the lending model in mid-2019, but a lot of loans in previous years were mis-sold.
We work on a true No Win No Fee basis if when we complain about a Guarantor Loan we win, the refund is deducted from any outstanding loans you still owe the lender. If you have already repaid the loan you will get a refund of the interest you paid plus 8% statutory interest added.
We only charge our fees on the net amount you win. So if you are not sent any money, we do not charge any fees. There is no risk to you at all. Have a look at our page on fees for some examples: Click Here
The person who guaranteed your loan (the guarantor) will not be affected by you making a complaint. They should not be told that you are making a complaint and nothing will change with them as long as you keep making repayments. If they have made payments on your behalf we often get the money back for them and because we are decent people, we do not charge our fees on any money returned to your guarantor.