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
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Amigo Loans Scheme of Arrangement

Welcome to the Amigo Scheme Portal

Scheme Progress Update – 24th May 2024

We apologise for the delays in processing Scheme Claims. 

 

We have now issued over 207,500 outcomes, via email, to Scheme Creditors, representing 99.1% of the total Scheme Claims.

 

We appreciate the frustrations for those who are yet to receive their Scheme Outcome. Based upon current projections, we are working to have issued all remaining Scheme Outcomes by the end of May 2024. If we encounter any issues in being able to issue an Outcome letter in May, we will contact customers directly to advise them of this, and what issue has arisen.

 

We can confirm that payments to Scheme Creditors with an upheld Scheme Claim (and where bank details have been updated within the Scheme Portal) are in progress, starting with eligible full refunds. To date, over £73 million has been refunded to Creditors.

 

We can also confirm that balance adjustments are being progressed, for those eligible Scheme Creditors, following their Scheme Claim. These adjustments are visible on a customers online account, and will also enable further eligible Full Refund Payments to begin to be issued.

 

We remain in discussions with the Scheme Supervisors regarding the timing and level of the interim dividend payments and anticipate declaring an interim dividend by the end of May 2024. Scheme dividend payments will be made within 30 days of the Initial Scheme Payment 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 for each pound due.

 

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

 

 

It should be noted that:

 

  • - 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 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.

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