Amigo Loans review: do not use! 45

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rip off sharke and have the cheek to defend themselves...i was not interest but sat the adv . on TV and thought oh oh who is going to ripped off now...and wanted to warm people in my nwtworking areas...this a total rip off and it would not take any collectors to think about door knocking here in northern ireland if they want to walk again

hi
i went guarantor for my son with amigo loans and because my son missed a payment they have dont nothing but hounded me i change my num but they managed to get my new num this company is a joke when someone from emigo rang me again for the 6 th time it was the manager who rang me this time he said the loan is worth more than my life if that not a threat i dont no what is, so i called the police told them what the manager said to me the police said they couldnt do anything because they have not threat to kill me this company is 1 bloody joke i have passed on to people not to take a loan out with them and there add on tv they have a cheek

i will make sure no one else has a loand from u

Holy crap. Is everyone who posted here illiterate AND stupid? The clue is in the title, loan company, not give company. Of course they will get annoying to you if you do not pay. All of the site literature (I have read it, unlike the posters above) states that you and your guarantor must be certain you can make the payments on time. Just like any other loan. Letters and phone calls will abound from financial institution if you do not pay them. I see no reviews here from anyone who says that they paid on time and that the company were horrible to them. You know why? Cos they f&D$@ing paid on time. Enough said I think.

The BBC described James Benamor, Owner of Amigo Loans, as someone who "has made a fortune by misleading people over loans". Need we say more...? Well that and the fact that Amigo loans are mid-term, 3 to 5 years, so it does not make sense to directly compare the APR with payday loans. Amigo will collect directly from the guarantor if any missed payments are made and can even place a second change on the guarantor’s property to recover the debt and on top of this negatively affect the guarantor's credit rating! Why would anyone want to burden a good friend or family member with this kind of risk or potential hassle?

These loans carry very LOW RISK to the LENDER but this low risk is NOT REFLECTED in the HIGH APR incurred to the borrower! Hence the only real winner is the loans company.

My advice would be to avoid these guys at all costs and get an agreement drawn up between you and your guarantor for them to lend you the money directly - it’s better for the borrower and the guarantor!

My experience of Amigo loans is that of a guarantor.

I foolishly agreed to sign as guarantor for someone I thought was a close friend. As soon a s she received the funds she left the country. And hasn't made even a single payment. I have learnt from other friends that she has done the same thing to a number of people over a period of a few weeks. One of the massive drawbacks of not making even basic checks on the borrower is that patterns of borrowing like this aren't identified and stopped. I personally believe that all loan companies -particularly in this kind of loan market should be making exhaustive checks on borrowers and make informed lending decisions. My circumstances have changed recently and i am struggling to make payments. Are Amigo interested? NO.

In conclusion! If you are considering acting as guarantor for someone! DONT DO IT. NO MATTER HOW WELL YOU THINK YOU KNOW THE PERSON!

I am with Amigo, i have paid off 2 thirds of my loan, about 10 months ago my bank Natwest decided to cancel and block every direct debit on the account, amigo were informed of this and told to take payment from card (same account, same date), every month since i get e-mails and texts saying i am in arrears, it takes them 2-3 days to take the payment from card, they still try the direct debit first, this month i have had change bank accounts and i am waiting for a large backdated payment to go in hence the payment is now exactly three days late, my guarantor has very worse financial luck over the past year or so since her divorce and now faces having to sell her house and rent, oh dear thats against amigos stupid homeowner policy, these loans are NOT sercured, when we took the loan we had to because of a situation, they phone with a stupid verbal arrangement that you pay because missed payments mean they cant lend to some one else, this gets put to you every month for being two days late because they wont listen.
The other dayt i got a letter offering me £4232.62 or similiar, rounding what i owe with this to £5000, payable at £192 per month, total paid back over £13000.00, it was ripped up and i will NEVER use them again, another point this loan HAS NOT helped my credit score in one bit.

I really do think that people should think a little more before commenting on here. Why is it Amigo loans' fault if someone doesn't keep to their side of the agreement? Don't sign up as a guarantor unless you are 100% sure of what you are doing. I've a loan with Amigo, nearly paid off, with a friend as guarantor. He has known me for over ten years, and knows that I have enough self respect and honour not to dump him in it. I've not had any problems with Amigo and neither has my guarantor. Why? Because I keep to my side of the agreement. Don't blame them if you sign on the dotted line for something you do not understand, or for someone you don't trust.

well dickie75 you are one of the lucky ones whether you have known your friend for 10 yrs and whether you have the self respect to honour and not dump is a good thing for your friend but that doesn't mean to say that others are wrong in what they have commented. my son owns his own hse has a good job and a little boy. his friend who he stood guarantor for promised exactly the same thing as you did to your friend. my son told noone what he had done to help this person out. she had a good job she was moving she had a job to go to and wen applying for the loan she told Amigo exactly the same on tape. after the second payment had not been paid my son went missing leaving txts he was in trouble life was not worth living he couldnt go on (trying to pay a lge morgage was fine but to find another 220 a month was breaking him) to cut a long story short i new the family well and visited them to tell them what had happened between my son and there daughter mum was already in tears with the local paper no idea that her daughter was in court for stealing money from an old peoples home over 26, 000 and had lost her job over 2mths previous she had also taken her best friends debit card each time she had visited and taken 17 transactions of 200 this has all been taken to court with numerous fraud against her that noone was even aware of NOT EVEN HER CLOSEST FAMILY and although in court she admitted lying to my son and he has a letter from the courts and her solicitor says he should now be taken off as gaurantor we stand no chance according to amigo. up til now he still has to make the payment each month as she is refusing amigo are refusing to take him off as they say its still not proof enough so we are now going to try and take a single case against her to court as amigo have said although she lied on tape to them and a fraud case has been won by amigo against her they still need the proof that she lied to my son as its his word against hers? its actually nothing of the sort what it is they no they can hound him they no he will lose his home if he is blacklisted they no they will get nothing off this woman as shortly she will class her self as bankrupt and too a two penny company like this if my son had have taken his own life it would have meant nothing to these hounders probably would push to take the home from under my grandsons feet. im well respected where i come from i work as hard as anybody else brought 4 good boys into this world that all work and dont scrounge so i can see where some of these people are coming from

i should have added if no one stood guarantor companies like this would be shut down they just prey on ppl

i stood guarantor for my son. it took a ten minute phone call and the money was soon in the bank. at no time was i told the loan would be in MY NAME. i had an excellent credit score but it seems to have affected it as i was recently refused a bank loan as i had a loan from this type of company. i highly recommend no one uses this company.

Yes 100% amigo loans are bloodhounds, the most unhelpful people you could come across. I lost my job and had no money coming in, my guarantor also is going through a divorce so therefore skint. i tried explaining everything to amigo, asked can i pay back lower payments and the answer is completely NO.

Told y guarantor to change her number and cancel her card but someone they have managed to get the cash from her bank does anyone know how?

On your original agreement paperwork before the loan was paid out there is a passage which asks for your bank details as a guarantor and you have to agree to them setting up a direct debit mandate on your account. They also confirm this over the phone with you. So when the applicant fails payment for so long they automatically kick in a direct debit payment request which does not need your current debit card details to clear

I do feel sorry for people that are duped in to these loans and having to sadly resort to loan sharks to keep their head above water, its the way the UK has gone, not surprising we are the laughing stock not only in Europe but Worldwide, and the Government will do nothing to stop loan Sharks operating at scandalous interest rates and conditions linked to these Loans..
Most Banks will consider a loan with a Guarantor at much lower interest rates if you go to see them, now if you are refused a loan by a Bank, it is normally because you have a bad credit rating, or you cannot afford the repayments, in that case if these Loan sharks are doing as the law demands they should also refuse a loan to that same person...but they don't!...fact.
As for acting as a Guarantor for a friend or family member looking for a Loan, do not do it, if the friend or relation can make the Loan Payments then they will never need to worry about who is the Guarantor, if however, there is a concern of risk...DO NOT DO IT...these sharks will if they can, take a 2nd or 3rd charge on your house...with Interest mounting...Stay away from 50 per cent Amigo Loans, who's pathetic adverts makes me want to throw up...patronising ###s! try a credit card at 35 per cent...good luck to all.

If you miss payments on a loan. Regardless whether it be with Amigo or any other Loan Company, they will hound you for those payments. If someone owed you money and agreed to pay it at a certain time but failed to do so, you would chase them for that payment. But having said that. It does not excuse the amount of interest charged by Amigo. If you asked them why they charge such rates, they would reply they make high risk loans. But that of course is not true. They take less risk than any normal Loan Company because they insist on a guarantor. So they have a back up if the borrower doesn't pay. So They are in affect, Loan Sharks! Set up to fleece those who have no where else to go but to them. It was well thought out on their part. Outrageous interest with less risk than a normal Credit Card Company. So if you allow yourself to get tangled up with these people, it is a self inflicted wound!

People take out a payday loan to improve their credit record or to improve a family members credit. It's absolutely heartbreaking as it will ruin your credit having a payday loan on your file. I'm a mortgage broker and can tell you almost no lender will go near you with a payday loan on your file. They tell you it will improve your credit record and then suddenly people who have innocently taken out the loan can't get credit or a mortgage for 6 years. It's the greatest financial con ever. You would not believe the amount of people I have to tell they can't own a home because they took out a. Payday loan several years back. The big lenders have an absolute no payday policy for mortgages. The fact that relatives are taking out these loans via amigo etc as guarentor are causing them more damage than they will ever know.

It is obvious to everyone that this man is a shark praying on those who can't get a loan elsewhere. He take less risk than a credit card company because he insists on a guarantee. How the law allows him to operate beggars belief.The rate of interest is nothing short of theft. Yet they have the audacity to advertise affordable loans. If ever a company needs investigating and closing down, this one does. But he can only prosper if people allow themselves to fall into his clutches. Rather than sign up for a loan with Amigo, you'd do better to go to bed and leave your front door open to burglars

I am very disappointed by amigo loans in the fact that not only is it a requirement to provide them a phone number. But they pass the phone number details on to several other companies without permission. Each day I am receiving a new call, from a new company to offer a loan which I no longer need. This happens at an average of fifteen times a day. Do not trust this lender company. Do not even allow them a chance. If you; the consumer requires money. I strongly recommend Capital One or Vanquis.

I'm quite surprised at the comments. I took an Amigo loan out for my partner as he was on repayment plan at the time making him unable to take out any loans and his dad agreed to be the guarantor. I have not had a single problem with them since taking out the loan 2 or three months ago. We even paid late on one occasion because the guarantor asked me to change the loan to his name, so I cancelled the direct debit and he was supposed to call them but in the mean time changed his mind and asked me to make the payment. When I called I apologised for the late payment and I don't think I've ever spoken to a nicer adviser, he told me not to apologise and reassured me they would not be contacting their credit report company and thanked me for calling to resolve the late payment.

I agree with one of the comments above, if you don't pay then you need to expect to be hounded, if you do pay they're nice as pie, you borrowed money and you're not paying it back so why should they be nice to you?

we Had a loan with amigo went guarantor for my partner, had no problems, paid off early and no extra fees as promised .It is what it is, its a loan u pay no probs u dont u get probs, some
of the cases on here exceptional particulary the woman who was robbing her work place
hopefully she has been banged up for a few years, and in this case amigo should could
to some sort of arrangement with the guarantor .

I disagree with everyone here.I have taken out two Amigo Loans over the past three years and now just two payments away from paying back this final loan.I have found the staff to be helpful and very understanding.So all of this negative press is uncalled for.Like all loans, just make sure you can repay it before agreeing to it and be prepare for the the consequences if you cant...like every other credit agreement out there.So get a life you ###s and stop wimping like soppy girls blouses!

I want urgent money, i apply loan on AMIGO finance and they have approved my load and then ask secuiriety and insurance amount
can i give this money please anyone answer me.

i have applied loan on AMIGO finance
and they have approved my loan
and then they ask me securieti and insurance fees
can this money give for AMIGO finance
please anyone help me.

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i took out a loan with them i was trying to get a loan from some one else and out of the blue amgio called me and sent me email after email they made it sound so easy so i did it all over the phone i could not get a guarantee at first but they kept on pushing so a work friend said he would help they called him and said he did not have funds to cover it until he told them about money he makes on the side (witch is illegal but not drugs or anthing like that ) so they said thats ok i am now in hospital with liver cancer and have no funds coming in so they have been taking payment from my friend witch is what they said i told them my problem but it got me no where i tried to make payment with my wifes credit card and ask them to take payments each time from this they said no it has to be regested to me so dont no what to do now i have now sent this to watch dog team and waiting for there help as i have not got to long and what to get my friend out of this thats all i have to say now good luck to you all

This company does not keep you in the picture. They lie and deceive. They do not inform you of anything and I believe falsify info. Avoid

My complaint about Amigo loans is that my son put me down as a guarantor for a loan. I came to find two emails from them, one asking me to go to their website and the second telling me that I had successfully signed his application online as a guarantor. I had not clicked on anything. By telling me that I had signed something that I had not, they lost themselves a customer.

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I have had a loan with Amigo loans for over 3 years never missing a payment.

Unfortunately I lost my job and asked Amigo Loans to let me pay a small amount as a goodwill payments and not call in a payment from my guarantor. I realise I was asking for a "favour" from Amigo loans.

I contacted my other creditors who were understanding and allowed some leeway. Ago loans did not. I received a load of "waffle" about how I was a valued customer. The bottom line is that they have hounded me and my guarantor practically every day with "veiled" threats.
I know I should pay but I only wanted some leeway.

They are all very pally when you pay all first name terms etc. However, they are simply a bunch of debt collectors when you cannot pay the full amount. They are bailiffs in dinner suits

AVOID AT ALL COSTS

Took a loan with them as i had no choice.
Missed 3 payments(5 days late) but paid it.
I have already done 59 payments out of the 60 monthly payments agreed but they told me i still have to do 4 more payments to cover the interest on that 3 late payments which i paid within 5 days.
£1000 for 3 late payments its not acceptable.
Dont know what to do as i have spoken to them and they said i have to pay it.

I've been a member of a credit union for years. www.creditunoin.co.uk are NOT a credit union. I wanted a loan for a new motorbike. Feeler in all the form and then the site gave all my information to amigo loans. And now the bloody phone won't stop ringing. Disgusts me because people using the credit union are using the services as we all know the banks rip you off it really gets on my nerves when they are blatantly using the credit union to gain information and people will think that is the best lonely can get. The only reason I found out his Amigo Loans because it came upon the information in the search bar no information anywhere else how can we stop these people from doing this to other people it's not fair. Rant over

My true account experience: the way I now see it is that they prey on family and friends of bad debtors, yes they are manipulative and sneaky, they know very well that most of the bad debtors approach their family and friends (indeed they even advertise it) with emotional attachment, knowing the guarantor will feel obligated to help their relative and I wonder how many do not pay their debt and the guarantor ends up paying it. This happened to me and I know someone else who I happened to speak to at the local spa who had become a guarantor for his daughters boyfriend for 5 k and guess what, they split up and the boyfriend refused to pay it so he had to pay it! Now the same happened to me, the person was a sister, she swore to me she would pay it off, I was put under emotional duress and felt obligated to help her because I'm the eldest, she said that she needed food for Christmas etc. so I agreed based on her word she would pay it. Guess what, she lost her job twice and did not pay a penny for a no. of years, Amigos loans kept sending me statements. She had paid off 2/3rds of it and left me with a debt. I refused to pay it out of principle that I helped her out and trusted her word. She got herself a job and I said you need to start paying off that loan, she called them and they gave her a code so she could start paying them and guess what, she did not pay a penny and led me to believe she was paying it. She lied to me. The next thing I get a letter stating the cases is with the money claims county court. It's my understanding that I'm supposed to make contact with them before they do that but they went ahead because she contacted them. I called them up and they said I had a CCJ pending and if I did not pay it I would end up with this on my credit record and I'm in the middle of getting a mortgage. The debt had increased so I had to pay off the debt which I could not afford. I spoke to Amigos several times, they make me sick, they are scammers that sit under the guise of operating under financial conduct authority and if is the case that what does that tell you about FCA? all in it together! I explained my position, that I lost my pension, had money stolen from me and been devastated, depressed, you name it and all they kept doing was repeating the same old verbal bull. Trying to convince me they are a good company that helps out people that have debts and I said rubbish, you encourage them more debt by emotionally targeting relatives who feel obliged and emotionally pressured into being a guarantor and you know the chances of them paying the loan off will default hence why you encourage they to turn to a guarantor to help them. They said that as the guarantor you are responsible and agreed and they did all the explaining and checks on you to make sure you can afford it. I bet they do. They are scammers. Also, I'm supposed to be in dispute, guess what they finally admitted, now I've paid I will never get a refund but listen to how generous they are, they said that if they can refund if I'm hard up and no money for food but guess what, the CCJ goes back on for the money claims court and I have to go to court, so they are not helping you out at all they are worsening your position and causing more stress, I hate these vermin. PEOPLE NEVER EVER BE A GUARANTOR TO THESE VULTURES, if your children, sisters etc cannot afford it, have a track record of debts they are likely to default and these vultures have got you over a barrel! they even ruin your credit record in the process unless you pay up. You have to seriously question what is going on with the authorities there are so many boiler rooms scams operating out of London, people losing pensions and allowing these loan sharks to take full advantage of guarantors who they know will pay because they have a good credit record, otherwise they would not lend that money out and so they know you will pay. Someone used to say to me 'no good deed goes unpunished' I now understand what he means.

Well..i am South African and i just got yesterday a message on my cell that my guarantee for some dude named Michael did not go through - cuz i did not have a sterling credit record. I mean for real, WTF? Never heard of AmigoLoans and the only friend i have named Michael is online. Him and his wife are American teachers and have More than enough money, i would be the one to have to ask Them for a bloody hand-up, not the other way round! How did these shysters even get my bloody gmail address?!?

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my partner was promise a extencion on his loan which would of made it 7, 000 and they promise him on Friday. so he went to England to get some paper and to pick up a dog words so he could sue his ex miss for slanger and start his breeding company. they have been stuck in England for four days now on the promise of them giving him a laon . there excue is we cant give you a loan because of you disabilities. WHAT BECAUSE OF HIS DISABILITIES. really we all have some sort of disability where we admit it or not so why leaded him on. because he is stuck in England he cause attend is appointments on 13th and 14 to do with his unverisal credits which is how he pays amigo loans which mean his money will be stop great just great.