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So GC shares are now going to flood the market....great!!
You hide it well ;^)
i dont hate him at all, dont know him. I just know his plans didn't make any sense at all, even at the most basic level. Also the idea that 21p wasn't good enough for him but he would purchase up to 20p that just annoyed me
fb figgy and itsa - thanks for that. Some stuff I didn't know and the stuff I did know I needed reminding of : )
So - another 9m shares in the market tomorrow if GC wants to sell up. At least it's not a JB size sell!!!!!
Unless they find a way to plug the unchaalanged outflow then they are in trouble.
Let's hope the CEO is the man who is prepared to work with the FOS/FCA. Simply paying every claim and FOS upholding almost every unpaid claim is unsustainable.
Let's hope the CEO shares his plans soon.
Expru at least your looking at the logical side of things, it’s a lot of money on the line, it was always fight or flight, JB knew this, look at his Twitter post one mentions that Amigo are paying out on all loan complaints( without question), and a employee even tackles JB over it, saying yes but there were less before you started opening your mouth.
People think I’m lying it’s there in black and white.
This will definitely end up being the case of Amigo borrowing to continue with complaints.
"Someone on here give me something to hold on to - GOOD NEWS!!!!!"
Roger the dodger will be gone eventually when Jonathan is in place .
Lending will restart
Nayan will be replaced at some point
Still a few seats that need to be filled
£145m cash.
lending facility being paid off in large chunks daily
bonds due 2024
Most of the covid holidays will be over by end of next month.
And we just had a new RNS
@expru be strong, we don't know what the CEO will do when he is fully in charge!
It didn't worry me before as I understood JB would ask for a judicial revue of the claims criteria against the company, but now the exiting board are still in place just paying out to anyone who writes a letter!!!! This is a plug hole which is filtering company money in to the sewers, so someone on the board needs to stand up and be counted and do something to stop the pillaging of our money!!!!
How long can we go on just settling claims without challenge - PPI went on for years - is this what we have to look forward too??????
Someone on here give me something to hold on to - GOOD NEWS!!!!!
Was 11p on 18th June when JB started selling.
Garry
You've missed the Game of Loans over the past few months. Proper saga with battles and murders lol
COVID related lending stop- still lending to key workers
Claims still volatile but should have enough cash in bank to sort
Lending again shortly
Hope that helps but DYOR or i'll get accussed of ramping :)
The FOS figures lead me to believe that there are very few circumstances where they side with the industry against the customer...particularly in the sub prime lending market.
Not sure how the board can be more robust with claimants when they simply go to FOS, via CMC, and it cost £650 for the privilege of FOS upholding 90+% of claims.
FOS and unclear guidelines are the cause which are now lenders problem.
Garry, if you wanted 5p you needed to be buying months ago.
Hey Senator
Now votes over can you tell us why you hated JB ? :) do you know him ?
Soccer bloke to Soccer bloke and I won't tell anyone else, promise
Im really interested in buying into this stock as I think long term it has potential but it is a very high risk share. What I like about it is the fact that it appears to be a stand alone product. I dont know anyone else who is offering loans by guarantors. I read the RNS yesterday and it states that the lending has been suspended and their appears to be all sorts of dissatisfaction with the board. A friend of mine was contacted by an ambulance chaser and the claim firm has successfully got about £3k in his loan for him. How many more of these are out there I dont know. I am intrigued why the website appears normal and yet the company are not lending is this to just keep up their presence ? My view and I am very new to this share is that the SP could fall to as low as 5p but the world is going to need finance and loans to survive in a post covid world and if Amigo can clean its act up and have good leadership and the amount of repayments to existing customers is not overwhelming I am of the opinion this could be a strong Long term share to have in my portfolio. Im big into BPC at the moment so any profits from that I may pump into Amigo once it starts lending. Any advice on this share would be greatly appreciated.
Thanks Jimmy for your time/knowledge. Much appreciated.
Tm- I haven't filtered anyone yet but it's very interesting to see what most people are trying to achieve as it doesn't move the market one bit or scare anyone off,strange ha..anyway tm-enjoy your evening.
Sum of all complaints Jan 19 to June 2020: 1,746. FOS data only as that is all I have. I suspect the non FOS complaints are small and therefore irrelevant., for now
agreed but as the FOS complaints as a % of customers are small I suspect the rest is even smaller. My point remains the same.
Sorry if not clear - the 1746 number. Is that from FOS data or have you managed to get numbers of complaints that have been sent to Amigo?
In other words are your redress calcs just on complaints are FOS or on all complaints sent to Amigo?
Tc-you need to turn it off demo ;-)
@BigLippy. I really am careful who I filter, just the really obvious bulls*****rs and wind-up merchants. I don't mind dissenting voices or opinions different from my own. That said, there has been a lot of green today.
Im giving the total of the category they are in based on figures i have seen for myself. At the moment I have no way to break it down to sub categories as I haven't seen that data. In any event I have been consistent with the denominator so the points remain same. The rest I don't know what you are talking about
PhillM, I agree. More clarity from the firm about what’s going on with complaints would be welcome. I’ve always found their reluctance to be open alarming.
Complaints have to be sent to Amigo first. They have a chance to review and offer / reject the complaint. If the complainant isn’t happy with Amigo’s answer they can refer to FOS (they have to do this, it isn’t automatic - but CMCs will almost certainly send on if rejected) and Amigo pays £650 for every FOS complaint, win or lose.
The figures FOS published today are only on the complaints they’ve received. It’s likely that Amigo has processed And paid out on a much higher volume of cases than have gone to FOS. But they’re not telling us what those numbers are.
We won’t get individual firm data from FOS for another six months now but there’ll be sector data (which I think includes a guarantor loan category) every quarter and Amigo is 80-90% of that category.
There are time limits for complaining but they’re quite fluid I think.
Only way to appeal a FOS decision is to judicially review but this is very difficult to prove, which is why no lender, including all those that have gone bust, has ever done it. Recent Kerrigan case against Sunny looked pretty good for FOS too.
Tm-evening ..careful who you filter you may miss important information about ifs and buts...but as we all know it's going to make us profit in time,how long? Who knows.