RE: predictions29 Dec 2020 15:30
David says
December 23, 2020 at 3:14 pm
In my opinion it’s not about Amigo trying to get out of paying. It’s about certain claim management companies being vultures putting in 6 complaints for one application. This then costs money and when it goes to FOS who reject the claim that then costs Amigo £650 per claim so you can see why they have stopped claims. Also false claims are going in if you look at Gary Jenninsons new video about Amigo and Amigo 2.0 it’s now in a better position.
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Sara (Debt Camel) says
December 23, 2020 at 3:33 pm
certain claim management companies being vultures putting in 6 complaints for one application
That would be incompetent, not the behaviour of a vulture. CMCs would gain nothing from doing that. And they will get complaints to their regulator.
when it goes to FOS who reject the claim
If there were any significant number of fictitious claims, Amigo’s uphold rate at the FOS would then fall significantly. It doesn’t seem to be happening…
Until the FOS uphold rate drops, the CMC problem is just a small red herring.
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mariusz says
December 23, 2020 at 5:01 pm
I do not think the claims management companies can be blamed. There was obviously a problem where loans were made unaffordable to the extent of how much is getting more difficult to prove. I think i have a genuine case but I also the issue was made worse when AMIGO said they would resolve claims in a certain time frame through the VREQ and didn’t understand that the CMCs have access to blanket email tools which I guess created a wave. My concern with the scheme is whether it will be fair. Past schemes don’t seem to have done that from my intense reading over the last 2 days, so forgive me if i have missed something. The people on this site, do their research and are willing to put the research in. I suspect most clients of the CMCs aren’t overly that bothered, so my other concern is if the CMC sign up enough people the scheme could go through and lessen our genuine claims?
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Sara (Debt Camel) says
December 23, 2020 at 6:13 pm
I don’t actually think there is any difference between the validity of claims from most people who used a CMC and most people who didn’t. Those who didn’t were just lucky enough to come across a free option first or knew from PPI experience to look for a free option. CMC claims are, by and large, no less genuine.
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mariusz says
December 23, 2020 at 8:04 pm
Thanks Sara of course I defer to your knowledge on this subject. My concern is if the CMCs start uping the advertising now as claims are stalling and sign people up. Won’t those people have handed their votes to the CMC to vote on their behalf? If the value of the scheme is attractive to the CMC maybe the rest of us take a big hot then if we are out voted?
Sara (Debt Camel) says
December 23, 2020 at 9:54 pm
So far as I know, people will vote, not CMCs on their behalf.
I am not sure why you think that CMCs would like
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