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Here is what Martin Lewis now says :
4. New. Had an Amigo loan? Payouts may be smaller & delayed - but still claim ASAP. Amigo recently proposed a new scheme to limit payouts to try to avoid going into administration. If it's approved mis-selling payouts may be capped, meaning you wouldn't get the full amount, and there may be a time limit too. If you submit a claim now Amigo's confirmed it will be transferred into the new scheme if that goes ahead, so it's worth doing.
That should encourage a lot of Yes votes IMO
I feel the same Bryn - Tuesday was a tick box exercise (although worrying as I am here until the end) but for me the vote is they key test. However I have 100% confidence in GJ, the BOD and their team and I would be amazed if they didn’t feel very confident of getting this through.
Despite all the negativity and criticism on Debt Camel etc everyone knows there is no real substance to those claims. Before applying for a loan you do your own affordability checks and there is no way a decent person would prejudice a Gurantor by applying for a loan they knew they couldn’t afford to pay. But these people did and are now abusing the system to try and get something for nothing. Amigo may have done some things wrong but nothing as bad as setting a Gurantor up for horrendous debt and problems.
My view is that the best outcome for 90% of the public will happen and Amigo 2.0 will happen so that honest people who may have a credit problem will have somewhere to turn in the future. That is why I am here as a long term holder
Whilst I agree with what you say those numbers will be far less than the tens (if not hundreds) of thousands of current and ex customers that have never even thought about claiming against Amigo because they were happy with their service
Have you actually read the negative Trust Pilot reviews? Most make no sense at all and those that do are just trying to blame someone else for their ignorance and/or mismanagement of their finances. I do have to admit though that I certainly wouldn’t have lent money to some of those people just based on their comments let alone affordability and things do need to change with Amigo 2.0
No problem ISA - thanks for responding. I was just thinking if they have taken over each individual customers right to vote for every case they upheld then a Yes vote from them (which I am sure we will get) will go a long way to approval of the SOA.
Personally, having seen the astute way Gary and the BOD have dealt with this so far I think that is the case. Would be good to know if and when the Court transcript is released
Hi ISA - sorry to hassle and no urgency for the reply but I wondered if you recall what weight the FOS votes will have in the SOA? Will they have one per complaint (and monetary value) they have dealt with or just one overall vote?
Great job today by the way and thank you for taking the trouble to relay events to us all in ‘real time’.
From what I have seen of GJ so far he is a very astute person that comes across very well. The decision to involve past customers in the vote is a masterstroke in my opinion and one that should get the SOA over the line. I wonder if the FOS have one vote for each claim they’ve dealt with as well??
The only people the SOA will adversely affect are the CMCs and who cares about them.
This is a share with real prospects in my opinion and I am in it for the long haul and topping up every time the price dips.
Come on AMIGO - you can do it.