Fraud alert Fraudsters can take advantage of customers when a company stops lending. Please remain alert to the possibility of fraud and potential scams after our wind down announcement. Don’t give personal or account details to anyone who contacts you unexpectedly. Amigo will only ever ask you to share bank account details within your Scheme portal account. Be wary of any suspicious calls from someone claiming to be from our company or the Financial Conduct Authority (FCA). End the call straight away if you have any doubts about who’s calling. More information can be found on this via the FCA website: Protect yourself from scams

Amigo Loans Scheme of Arrangement

Welcome to the Amigo Scheme Portal

Scheme Progress Update – 10th April 2024

We apologise for the delays in processing Scheme Claims.

We have now issued over 197,000 outcomes, via email, to Scheme Creditors, representing just over 94% of the total Scheme Claims.

We appreciate the frustrations for those who are yet to receive their Scheme Outcome. Based upon current projections, we will have issued over 98% of Scheme Outcomes by the end of April 2024, with the small remainder issued in early May 2024.

We can confirm that payments to Scheme Creditors with an upheld Scheme Claim (and where bank details have been updated within the Scheme Portal) have begun, starting with refunds of eligible loan payments post Scheme Effective Date where there is not a ‘live’ or ‘open’ loan balance with Amigo.

We can also confirm that we have now started to action balance adjustments due to eligible Scheme Creditors, following their Scheme Claim. These adjustments will become visible on a customers online account, and will also enable eligible Full Refund Payments to begin to be issued.

Full Refund Payments are being made according to the following timetable:

It should be noted that:

- A loan is considered ‘live’ or ‘open’ where there was a balance owing on the loan at the point that redress was calculated. Typically, the redress calculation is performed just before an FRL is issued;
- Any changes to this timetable will be communicated to you as soon as practicable;
- Our agents will be unable to provide a payment date in advance of payments being made;
- Your Scheme Outcome will confirm eligibility to receive different types of payment;
- Eligible Claimants will receive an email from Amigo when payments are released;
- It should be noted that any interest earned pending payment forms part of the monies available to claimants;
- Further details regarding this can be found in our Frequently Asked Questions.

We remain in discussions with the Scheme Supervisors regarding the timing and level of the interim dividend payments and anticipate declaring an interim dividend in late April or May 2024. Scheme dividend payments will be made within 30 days of the interim dividend being declared, or 30 days of receiving an accepted Scheme Outcome, whichever is later. We remain confident, at this stage, that total Scheme Payments will not be less than 17 pence in the £.

We will provide additional updates and information in due course.

If you have not yet done so, we encourage you to check that the bank details registered in the Scheme portal are accurate and up to date.

Answers to Frequently Asked Questions and key contact points can be found here.