Amigo troubles

[wales01man]

Re: Amigo troubles

The whole idea of a guarantor is for the likes of Amigo to have someone who they think has assets to go after if the lendee defaults who can blame them after all its business

[MRSP]

Re: Amigo troubles

It isn't the size of a debt that makes it "major", it's the size in relation to someone's disposable income and whether there are priority debts in the mix.


agreed. I am a great believer in self help and empowering people. As are Stepchange incidentally.


That is the nature of Legal Beagles and it fulfills a useful purpose.

HOWEVER in some situations it just isn't possible to give advice when you only know part of the picture. This Amigo loan may well be one such case - Amigo are incredibly difficult to deal with and will go for a charging order much faster than most other creditors.

Nothing has been said which suggests any form of legal defence to a CCJ or subsequent charging order.

The OP could decide he doesnt care about a charging order. Or he could decide whether to offer Amigo more and his other debts less in the hope of trying to avoid one. We don't know enough about his situation to say much more.

Just an update....contacted NDL who now only provide a web chat service and not an email response.The chat regarding Amigo troubles was no more help than Stepchange,Just bog standard advice really and not tailored to my situation at all. I have copied and pasted the conversation:
Hello you are through to Rod. Please bear with me whilst I read and respond to your query.Received:It could be a threat but the creditor coudl take you to county court and secure the debt on to your property. This is known as a Charging Order. Once the debt is repaid the Charge is removed.Received:At the end of the day you can only pay what you can affordSent:Yes I understand that.I have been advised by others that Amigo are one of the most difficult creditors to deal with and alway go for a charging order.Do you have any experience of the way Amigo behave?Received:I have heard of them. Most payday lenders can be difficult to negotiate with. You should just complete a budget sheet and send that to them with your proposed repayment offer by using our sample lettersReceived:Here is a link to our online budget sheet. <http://tinyurl.com/omy2g6v>; ? A budget sheet will give you a financial snapshot of your circumstances and help you work out what you can offerReceived:You can use our sample letter to make offers to your debtsReceived:<http://tinyurl.com/lwul62m>;Sent:I have already done that and have been paying them a reduced amount with amounts to 25% of the full monthly payments however they keep asking for more every couple of months or so.I could go higher but am concerned that in the long term if \i have to pay my other creditors more it could make life very difficultReceived:Yes you need to stick to your guns. If they take you to court , then so be it , you will make the same fair pro rata offer againSent:I want to avoid court and a charging order at all costs.I am dealing with my other creditors independently at the moment and wish to do the same with Amigo.How can I avoid this potentially damaging situation without offering payments which I cant really afford?Received:You cannot . Are you up to date with your other creditors?Sent:I am making reduced payments on several bank loans and cards and am currently trying to sort out some catalogue debts for which I have requested some cca's.

[Berniethebolt]

Re: Amigo troubles

You can still call them
0808 808 4000

I always think verbal communication when possible is better as it can be so hard to get your real meaning/worries/hopes over in writing unless you are particularly good at writing and the reader is particularly good at interpreting.

The problem is that everyone organisation is under the cosh with funding and everyone wants greater results from the same resources

[MRSP]

Re: Amigo troubles

You can still call them
0808 808 4000


I always think verbal communication when possible is better as it can be so hard to get your real meaning/worries/hopes over in writing unless you are particularly good at writing and the reader is particularly good at interpreting.

The problem is that everyone organisation is under the cosh with funding and everyone wants greater results from the same resources

Thanks for the advice,I do take your point.I may ring them as I still have a few days left to make a decision.
There isn't a lot of information from any source on the net about the way in which Amigo operate,The only mention I have heard is negative and so I don't hold out much hope of being able to negotiate too heavily with them.

[FlamingParrot]

Re: Amigo troubles

Just an update....contacted NDL who now only provide a web chat service and not an email response.The chat regarding Amigo troubles was no more help than Stepchange,Just bog standard advice really and not tailored to my situation at all. I have copied and pasted the conversation:
Hello you are through to Rod. Please bear with me whilst I read and respond to your query.Received:It could be a threat but the creditor coudl take you to county court and secure the debt on to your property. This is known as a Charging Order. Once the debt is repaid the Charge is removed.Received:At the end of the day you can only pay what you can affordSent:Yes I understand that.I have been advised by others that Amigo are one of the most difficult creditors to deal with and alway go for a charging order.Do you have any experience of the way Amigo behave?Received:I have heard of them. Most payday lenders can be difficult to negotiate with. You should just complete a budget sheet and send that to them with your proposed repayment offer by using our sample lettersReceived:Here is a link to our online budget sheet. <http://tinyurl.com/omy2g6v>; ? A budget sheet will give you a financial snapshot of your circumstances and help you work out what you can offerReceived:You can use our sample letter to make offers to your debtsReceived:<http://tinyurl.com/lwul62m>;Sent:I have already done that and have been paying them a reduced amount with amounts to 25% of the full monthly payments however they keep asking for more every couple of months or so.I could go higher but am concerned that in the long term if \i have to pay my other creditors more it could make life very difficultReceived:Yes you need to stick to your guns. If they take you to court , then so be it , you will make the same fair pro rata offer againSent:I want to avoid court and a charging order at all costs.I am dealing with my other creditors independently at the moment and wish to do the same with Amigo.How can I avoid this potentially damaging situation without offering payments which I cant really afford?Received:You cannot . Are you up to date with your other creditors?Sent:I am making reduced payments on several bank loans and cards and am currently trying to sort out some catalogue debts for which I have requested some cca's.

TBH There's nothing there that we couldn't have told you here because it's all just common sense. There are times where it may be worth exploring some alternatives that the official channels don't always tell you about, which is why I said it's hardly worth just referring people to the well known third parties, however, there is no magic wand to deal with ALL debts, hence the idea of not necessarily following the usual advice of paying all your creditors pro-rata.

I don't know who your other creditors are or, more importantly, the history of those accounts. If you take a look around this site, you'll find a lot of threads that refer to accounts that may be unenforceable or relatively easy to defend if they were to issue court papers. Amigo isn't one of them so you may want to concentrate your resources on those who are more likely to take you to court and win, within reason, of course. If you've sent them an Income and Expenditure statement and made a repayment offer back by it, they should be aware of the fact that they won't get any more money out of you if they were to take you to court, as you can't pay what you haven't got. :thumb:

[MRSP]

Re: Amigo troubles

-

TBH There's nothing there that we couldn't have told you here because it's all just common sense. There are times where it may be worth exploring some alternatives that the official channels don't always tell you about, which is why I said it's hardly worth just referring people to the well known third parties, however, there is no magic wand to deal with ALL debts, hence the idea of not necessarily following the usual advice of paying all your creditors pro-rata.

I don't know who your other creditors are or, more importantly, the history of those accounts. If you take a look around this site, you'll find a lot of threads that refer to accounts that may be unenforceable or relatively easy to defend if they were to issue court papers. Amigo isn't one of them so you may want to concentrate your resources on those who are more likely to take you to court and win, within reason, of course. If you've sent them an Income and Expenditure statement and made a repayment offer back by it, they should be aware of the fact that they won't get any more money out of you if they were to take you to court, as you can't pay what you haven't got. :thumb:

yes I agree that it is not necessarily the best thing to do to pay all my creditors pro rata and I am tailoring any advice/information to suit my own situation.AS for Amigo,I realise that they wont necessarily get any more money by taking me to court and that by putting a charge on my house that they could only force a sale if they werent getting the agreed payments, so probably not the end of the world.I would however prefer to avoid this if possible as its just another unwanted stress.I will probably end up offering increased payments and see how it goes.
If it were to go to court,do you have any knowledge of how the judge would decide what payments I have to make?Do they go by an income and expenditure form or do they use other methods?

[FlamingParrot]

Re: Amigo troubles

-yes I agree that it is not necessarily the best thing to do to pay all my creditors pro rata and I am tailoring any advice/information to suit my own situation.AS for Amigo,I realise that they wont necessarily get any more money by taking me to court and that by putting a charge on my house that they could only force a sale if they werent getting the agreed payments, so probably not the end of the world.I would however prefer to avoid this if possible as its just another unwanted stress.I will probably end up offering increased payments and see how it goes.
If it were to go to court,do you have any knowledge of how the judge would decide what payments I have to make?Do they go by an income and expenditure form or do they use other methods?

An income and expenditure form is also used, even a judge can't order you to pay what you haven't got. If they started proceedings, you could try to settle with a Tomlin order which stays proceedings as long as you keep to the terms of the order, they are often used to avoid a CCJ (and thus a charging order) although it does leave the door open for them to request summary judgment if you defaulted on your payments. :mmph:

[Debt Camel]

Re: Amigo troubles

do you have any knowledge of how the judge would decide what payments I have to make?Do they go by an income and expenditure form or do they use other methods?

They go by your income & expenditure as filled on on the N9A form http://hmctsformfinder.justice.gov.u.../n009a-eng.pdf

[lukeallen225]

Re: Amigo troubles

Hi

I also an in trouble with amigo. I took out a loan in July 2014 for 3k agreeing to repay over 60months at a rate of 49.9% up until a few months ago I had been making my regular payment of £118 a month without a problem but then me and my partner had to be signed up to universal credit, we had a lot of trouble with them and as a result can not pay the agreed amount. I contacted amigo whilst I was in debt with them, they wanted £140 a month from me to clear the debt! I agreed and made one payment but couldn't afford it after that. I then contacted step change charity, they have contacted them and arranged to send them £55 a month along with my budget which clearly states that I can not afford their payments. They rang me almost every day demanding me to contact them to give more money! I've now got a letter from their solicitors demanding the full amount plus interest as amigo wouldn't stop that either. It says that they will go to court to get a court order against me.

What do I do?

[MRSP]

Re: Amigo troubles

Hi

I also an in trouble with amigo. I took out a loan in July 2014 for 3k agreeing to repay over 60months at a rate of 49.9% up until a few months ago I had been making my regular payment of £118 a month without a problem but then me and my partner had to be signed up to universal credit, we had a lot of trouble with them and as a result can not pay the agreed amount. I contacted amigo whilst I was in debt with them, they wanted £140 a month from me to clear the debt! I agreed and made one payment but couldn't afford it after that. I then contacted step change charity, they have contacted them and arranged to send them £55 a month along with my budget which clearly states that I can not afford their payments. They rang me almost every day demanding me to contact them to give more money! I've now got a letter from their solicitors demanding the full amount plus interest as amigo wouldn't stop that either. It says that they will go to court to get a court order against me.

What do I do?

Hi
I think you have problems because you agreed to a repayment plan and then didn't stick to the arrangement.Even though this may not have been your fault,the lenders do not like it.
I doubt whether the judge would order you to make payments you couldn't afford,however if you own a property Amigo could obtain a charging order on it.
If you don't own property then I wouldn't worry too much about it at this stage.
What do stepchange say about it?

[Debt Camel]

Re: Amigo troubles

hi [MENTION=89886]lukeallen225[/MENTION]

do you have a guarantor for this loan? Has Amigo been in contact with them?

do you have other debts as well?