Member Info for lloydyboy

Look at trustpilot it appears that amigo are far from rolling over in ever case of redress. From their responses it also looks like they are in consultation on individual cases. To me I interpret this as amigo saying to FCA/FOS “look at this case, it’s a joke, you really expect us to pay out on this?” The tone in the last few responses and the recent one star reviews does show that the company are not only dealing but standing up for themselves. Extremely positive for me at least.

This is how it needs to be sorted. No if's no buts.

Morning Karen,

I just wanted to reach out in relation to the complaints vreq which will obviously be missed.

Before Hamish was in charge there were stipulations on new applications. Can Gary or yourself please confirm that we are putting safeguards in place such as the following....

They have to implement a policy that says:

1. If an assessment was made and the borrower committed to a budget which, based on the numbers they gave and the evidence Amigo had, they could stick to, and which showed they could afford the loan, the loan was not irresponsible.

2. If the assessment was done but the borrower is now claiming they lied or falsified evidence to get the loan, this is fraud and it is not fair for them to be compensated for an act of fraud.

This was Amigo’s policy up until Hamish. It was the OFT, FOS and FCA’s policy for 10 years. It is not an extreme position to take.

From what I see on trust pilot it appears that amigo are holding off on complaints. The “victims” are saying this is due to poor customer service, however the shrewd fox in me hopes it is because the cases are simply fraudulent and you guys are figuring new processes with the FCA?

Look forward to hearing from you.

The next rns could be company making. I for one want to see Gary and Maria in dialogue with Fca and fos with clear evidence of the fake claims. That should by us some rope with them. Would love to get off the vreq for complaints and start lending again. Then we are out the gates. Come on Gary.

What gives you that impression? It certainly isn’t the trading activity.

Good point

I agree mark but something needs to be done on the complaints. There is an ad on Facebook for claim thousands from amigo yada yada and the scum on there tagging people say worth a go? Nothing to lose? It’s a **** take. The ****ers shouldn’t be given the time of day.

He was a ned before ceo so that won’t happen.

Encouraging people to sell will not make you feel better or recoup losses so concentrate on making your losses back.

Can you copy and paste the article as I refuse to pay. Cheers

Wouldn’t surprise me if it has been put in place due to all the bull**** of the board movements. It could be down to provisions but I honestly don’t feel like they have underestimated provisions. But I do feel that they will not have a solid hand on this by the end of October. My view is this is a safeguard to make sure the provision stays within the company if they end the vreq on complaints. Let’s be realistic here- keep an eye on trustpilot to get a feel for the complaints. I would like to think the BOD have said to the fca we won’t hit the 8 week timeline due to every dog and his dick that we helped out is trying to get redress. This is simply not fair and they require investigation. Proper investigation. So we will not hit the 8 week complaint turnaround but we will leave the money in the business to prove to you fca, we are doing what we can. That is why we are employing more people in the department and employing people to figure out why the complaints are made and more importantly- are they justified... this would be logical reasoning to cover all bases. Let’s wait and see.

Let’s wait and see what’s reported.

This has been put in place as a safeguard by both amigo and fca. Could get us out of the vreq for complaints which we won’t hit. Taking steps in the right direction.

To inform the fca the company is not a cash cow and they are serious about sorting issues. Cheers

What basis for 8p out of interest?

It will be very interesting to see if vreq is hit. It will be tight. I hope the fos/ fca take a view if needs be.

Yes it’s confirmed

good to see some results next week.

They have a bit of work to do on this yet!! Hopefully the fca take a view on this given the current climate

Yes we are

The share price will not go north when there are 99 sellers sat on the ask.