Few replies, lucky these are getting replies tbh7 Sep 2020 13:12
Secondly, over 80% of Amigo borrowers were passed to Amigo originally by brokers. These brokers received commission which was often up to 30% of lifetime revenue for the loan.
Many of these regulated brokers are now behind the CMCs which are creating these complaints.
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I have a personal issue with the word ‘sold’ being used here. You do not sell loans. You screen applicants, and you reject the vast majority.
These borrowers were not helpless victims minding their own business before someone rang them up and badgered them into taking a loan.
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I do not believe Glen takes that view either. The fact that he has put a meaningful amount of his own money into Amigo means that he is either a total idiot (he is not) or he believes total all time refunds will be kept well below 25% of customers.
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