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Oh dear. You re unwell. Get some help with the hate anger and mincemeat brain.
manu17, fair play if its irrelevant to you. I think a lot of investors will be keen to know exactly what supervision scrutiny a firm comes into. Fair play to you if you think Amigo stretching the truth on their investor FAQs doesn't matter.
It matters to me and maybe other shareholders too. To be honest, I ahdn't noticed that line until Mark posted the link. and it's games like this that make me nervous about holding.
Who gives a toss if its I high cost lender or not ? the borrowers have a choice take it or leave it, really gets my back up with so called do gooder`s and the PC Police.
The top of that link you posted says Amigo calls itself a mid-tier lender. Not sure why they still have that up there when Amigo knows that the FCA classes it as a high cost lender.
That information is out of date and I would say potentially always been inaccurate.The only context where 100% is defined as high cost is in short-term lending - I.e. payday. Lower interest rates can be high cost when they are charged over a longer period on a higher loan amount. It’s not just the interest rate that determines whether a lender is high cost.
As of March 2019, the FCA established a high cost lending portfolio for supervision purposes. Amigo and all guarantor (and payday and rent to own and logbook etc) lenders are classed in this category.
Mark1973. No, it’s classed as a high cost lender.The FCA doesn’t have. Mid-tier lending category.
Look up high cost lender portfolio strategy letter from March 2019. I can’t share the link.
Like I said mid cost
https://www.amigoplc.com/investors/investor-faqs
Jimmy it’s classed as a mid tier lender
Chris stop going on about the AA, we get the point. No one is going to pile in on that news. They have nearly 3bn debt, the bid is the news before the huge equity raise. Keep it to amgo here, thanks.
best option is stop lending and collect all monies back. Repay bonds and liquidate the company. Cash balance to be shared by shareholders.
Itsagame, Remember it well as a kid. Early 90s??My mum throwing plates around the kitchen presumably at dad. Turns out it was money problems driven by huge mortgage interests rates that almost crippled them. Thankfully got though it. She's calmed down alot too.
Itisagame, Amigo is classed as a high cost lender by FCA.
50% is Not high interest, it’s mid tier.
If affordability is an issue I think all of us or our parents who lived through the 18-20% interest rates on mortgages should go to the FOS for some compensation.
Special666 thanks for sharing. Glad things worked out for you and your mum.
Amigo clearly isn’t always the villain, but it’s not always the hero either.
Well said Richmond.
Just praying for a spike to 12p so he naffs Orf!
Dear god .... sigh!
Personal Experience
My mum broke down a few years back. She showed me her debt that had racked up with payday loan sharks. 100s% interest from the likes of payday UK, cash genie etc. I worked through it with her. I managed to clear some via my own Personal savings. We then consolidated the rest via amigo to build her credit back up and also break the debt cycle. For me Amigo helped take out the bad from the market place. They helped people get out the most horrendous predicaments.
Steve, not too worried about greed when you’re trying to turn your £20k in to a £100k by Christmas as per your post the other week.
I get you Steve. Your gripe should be at Gov or Financial service sector, not us. Unfortunately the greater the risk for the lender the greater the interest. Does seem perverse the neediest pay more, agreed.
Steve, you’re a disgrace wishing the company to go bust and anyone invested losing everything. I believe in Karma and sure hope you get yours. I’ve reported your vile rants and hopefully you’ll get banned from posting.
Yes steve, totally different.
We do not need another argument about the interest rates on here...suffice to say compare amigos interest rate with your next credit card statement.
I'd check your overdraft rates. 49% is the going rate for us all.
11 posts I just read thinking news but alas just kids having a tiff ffs
Steve, you also make the argument that poor people are dumb and can't make their own choices. Thankfully, in you, they have such a morale guardian to look after their needs.