Amigo Loan Reviews

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★★★★☆
4.2 / 5
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As of 19th March 2012 FLM Loans has changed its name to Amigo Loans.
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Latest Reviews

★☆☆☆☆

“Super Claim In Progress...Stay WELL Away!!!”

Written on: 23/05/2022 by DanD22 (1 review written)

I took out a loan for £5,000 in 2013 and kept up with my repayments until 2015 when the full balance was repaid and the agreement concluded. In 2020 a company approached me and advised that I could be due compensation from Amigo and a complaint was filed for miss-lending. Amigo agreed that they were at fault, and compensated both myself and the guarantor. It was clearly wrong of me to make a complaint, as this resulted in Amigo deciding that I now somehow owe them just over £600, which they have now marked on my credit file, although I've not received any formal demand for payment in two years. I recently checked my credit file and noticed that Amigo has been sending updates to the credit reference agencies on a monthly basis for the past 2 years, but still I have heard nothing about this during that time. When I queried this with them, they advised that this was the amount I owe them following the outcome of my complaint in 2022 relating to my credit agreement of 2013. I advised them that this agreement now falls outside of the statute of Limitations act and as per the Consumer Credit Act, requested a copy of a valid credit agreement for this amount. The company simply sent me a copy of the original agreement and declined my request to remove the data from my credit file. When I threatened them with the Financial Ombudsman, they advised that there is a 'super claim' with them currently and so the ombudsman would not intervene. So as far as I'm concerned, that means they think they can do whatever they want until the super claim is concluded and they go out of business (or not). I really hope this company loses its credit license soon because the way they milk everyday people for ridiculous amounts of money is horrendous.

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★☆☆☆☆

“Do not ever trust this company”

Written on: 23/03/2022 by PaigeEllery (1 review written)

I was a guarantor. I paid off over £6000 pounds. I was lucky I was in a position to do so quickly. They charge outrageous intrest on thier loans. They prey on people who are desperate, people who will most likely struggle to pay off the loan plus the intrest. Please anyone who hasn't voted on the scheme who can vote NO. Let's get this company shut down, they deserve so much more. However we can at least make sure they'll never trap someone else in thier Web of lies and false promises.

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★☆☆☆☆

“Potential Customers: Avoid at all cost! (Read Below)”

Written on: 12/04/2021 by Faizal_Abubaker (1 review written)

They make you pay triple the amount you originally borrowed! Stay away from this company, they will tie you up for years! I took out a loan for 10k based on them telling me I can afford it and staff encouraged me to tweak my incomings to stand a chance of acceptance, since receiving the loan I have paid nearly 20k with still over a year and a half to go. The payments I have made for a £10,000 loan is disproportionate and not justifiable by any means. Check this out – I have made the following payments to date: £237.15 pm (£6k original loan) payments made from Nov 1 2016 to May 2017 = £1,660.05 £395.25 pm (inc £4k top-up = £10k total borrowed) payments made from July 2017 to Current = £17,785.75 £1,660.05 + £17,785.75 = Total Paid: £19,445.80 Absolute bonkers I know. I’ll probably end up paying them near 25k, imagine that for a 10k loan. I have reported them to FCA and have asked Financial Ombudsman Service to look into my complaint, I will take them to court if that’s the last option I have. Take a loan out with them at your own peril! For pre-existing customers please vote NO at the Scheme of Arrangement consultation and let’s collectively shut this company down, they want you to believe you will get a refund but for the good of humanity this company should not be operating. It is well documented they are already holding up payments for those that have won their cases with FOS and they will further delay payouts. It is better to take a hit on the finance than leave the company operating without impunity. I have suffered from health issues trying to pay this company back. They do not deserve to be open and serving the population of this great country.

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★☆☆☆☆

“Beware Amigo!!!”

Written on: 04/07/2020 by Heather86 (1 review written)

was a guarantor and this is my experience with Amigo. They are hideously irresponsible lenders who care not a jot if they grind you into the dirt and leave you broken and penniless. The borrower was not a friend but my manager at work. I was on a zero hours contract and relied on her goodwill for enough shifts to keep food on the table. I was not in position to say no to her and suffer the consequences- Amigo was well aware of our respective positions and work and the power imbalance that this entailed but they still lent with me as guarantor, even though I was on a lower and more variable income than the borrower! When she defaulted I was immediately threatened with court during this already stressful covid time (I was furloughed and had just found out I was pregnant). I had to declare myself insolvent. The borrower defaulting has trashed my credit score. I was then sent a letter from Amigo stating that they were waiting on me to fail with my trust deed and then would carry on chasing me for money I dont have. I have had panic attacks and my anxiety has returned. I beg anyone considering becoming a borrow or a guarantor, please please please find another way, these loan sharks will eat you alive. Complaints following the correct channels via their website are ignored and tweets are brushed off with a 'sorry to hear that.' If you deal with this company you will end up in such serious trouble that bankruptcy will become your only option.

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★☆☆☆☆

“DO NOT USE LIKE THE PLAGUE”

Written on: 06/04/2020 by Adamp92189 (1 review written)

Amigo Loans are a no go DO NOT USE ... Cornavirus pandemic as it stands, not interested in giving people breathing space or being flexible as any respectable lender should be !! After 10x emails to their team they ask me to fill out a form on my account via their website which is NOT USER FRIENDLY. Very wordy and asks you the same question pretty much 4 times ... They then chirp up with various emails but never answer the phone I have been on hold today for 3hrs so far. REASONABILE LENDER DEFINETLY NOT AVOID LIKE THE PLAGUE THEY ARE ONE OF THE WORST COMPANIES I HAVE EVER COME ACROSS.

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★☆☆☆☆

“never be a guarantor”

Written on: 03/03/2020 by Gustafson214 (1 review written)

When l agreed to be guarantor l believed they would pay, They where 15 days late with there payment, and explained the situation to them they didn't listen and would not work with them to resolve this issue. when payment was one day late and they kept in touch with them they started hounding me for payment. Since agreeing to be guarantor my situation has changed and l informed them of this and they totally ignored it and would not acknowledge my situation or the borrowers. they don't listen and l am at breaking point. Have been trying to call and sent e~ails just ignored. Can't even access the account. Wish l was better informed and that had they done the checks properly they would have seen it wasn't affordable also says l signed a contract which you have to do before getting funds l didn't sign anything that l can remember and l have all paperwork with no contract.

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Adamp92189's Comment

Written on: 06/04/2020

Amigo Loans are a no go DO NOT USE ... Cornavirus pandemic as it stands, not interested in giving people breathing space or being flexible as any respectable lender should be !!
After 10x emails to their team they ask me to fill out a form on my account via their website which is NOT USER FRIENDLY.
Very wordy and asks you the same question pretty much 4 times ...
They then chirp up with various emails but never answer the phone I have been on hold today for 3hrs so far.
REASONABILE LENDER DEFINETLY NOT AVOID LIKE THE PLAGUE THEY ARE ONE OF THE WORST COMPANIES I HAVE EVER COME ACROSS.

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Tracyrichardson's Comment

Written on: 14/04/2020

It has become clear to me why they aren't interested in giving breathing space in this terrible time. My guarantor has just noticed a pending transaction on her bank account for 0.01p, when she challenged them their response was, it was just something they do every 9 months to check the details are still correct. My payments are up to date and I have no arrears on my account, the only thing that springs to my mind is Covid-19.
They should hang their heads in shame.

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★☆☆☆☆

“Poor Service”

Written on: 05/09/2019 by mike5839 (1 review written)

I was guarantor to a recent loan carried by a friend, she fell on hard times so Amigo constantly hounded me for payments. I decided in the end to pay up.I have since requested confirmation that the account is now closed and they have totally ignored me. My advise is IGNORE this outfit no matter how desperate things become.

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Amigoloans's Response to mike5839's Review

Written on: 15/01/2020

Thank you for your message, I’m sorry to hear you are unhappy with our service.

Before we paid out your loan we promised to keep you updated as to the situation of your account. This is important because, as guarantor, you are jointly and severally liable for the debt. We also want to ensure there are no surprises for you.

If you have further concerns as to whether the account is closed, I would encourage you to get in contact and we’ll be able to look into your concerns further. Thank you, Amigo Loans

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★★★★★

“Great Loan Alternative!”

Written on: 07/07/2019 by SarahMN (1 review written)

Amigo loans has been fantastic. I needed a loan a few months ago to pay for an unexpected home repair bill. My credit rating needed repairing after I had faced financial difficulty last year so a standard bank loan wasn't an option. As I had a guarantor, Amigo accepted my loan application and offered a top up loan after 3 months of making payments on time. Their customer service is friendly and efficient and the loan application is very easy. I'd recommend this company to others.

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★☆☆☆☆

“Taken to the cleaners ”

Written on: 16/03/2019 by Louiselodwick (1 review written)

I acted as a guarantor for my daughters boyfriend. I believed that he needed the money to buy a car and tools for work, so that they could start up their new life together. I believed him when he said he would pay the premiums monthly and he could afford it. In fact he paid practically no premiums and late payment charges and premiums defaulted to me. This caused me financial difficulties and I borrowed money from from my bank to pay it off. This gave this man a good credit rating, left me in debt of over £7000. I later learnt that he went on to do the same thing to someone else. There was no security in place to prevent this from happening. So my advice on this type of loan for a guarantor is, don't do it, ever.

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Amigoloans's Response to Louiselodwick's Review

Written on: 27/06/2019

Hi,

Thanks for leaving your review - and sorry for taking so long to get back to you! We're sorry to hear you weren't happy with your experience of standing guarantor, and we know it can be frustrating when the borrower stops making their monthly repayments.

Just to assure you, we don't apply any late payment fees or charges so the amount agreed to when the loan is paid out is the most that would ever be repaid. We also make sure each of our customers can comfortably afford the repayments before we ever approve a loan application to make this doesn't impact them in future. If you'd like to us to look into this further I'd recommend getting in touch directly with your details.

I hope this helps. Thanks, Alex @ Amigo

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★★★☆☆

“Not guarantor friendly”

Written on: 28/11/2018 by suetownsend (1 review written)

My son wanted to top up his loan. This made a difference of £15.00 more per month to pay so I agreed to again be guarantor. What a farce!! They went to my credit file, yet again, all my finance was scrutinised down to last penny. It seemed even more intrusive than the initial loan. I will never act as a guarantor for this firm or any other if this is how they treat people.

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★★★★★

“This is a professional private loan lender”

Written on: 28/11/2018 by rodfinancing (1 review written)

This is a professional private loan lender who is registered to give out loans with low interest rate of 3%. Works with a team of experts as staffs and gives out same day approval loans. All kinds of loans such as emergency loans, hard money loans, debt consolidation loan, auto,vehicle,truck loans, business loan, funding/financing, mortgage loans, student loans, agriculture loans, loans for construction, project financing, loan to start a project and many more. Get in touch (rodfinancing[email protected] com)

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★★★★★

“Loan”

Written on: 03/10/2018 by Penguin8 (1 review written)

They where very helpful and sorted out my loan very quickly.Amigo loans can help people or friends with loans with a guarantor.

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★★★★★

“Amigo Loans has helped my tremendously ”

Written on: 16/07/2018 by Jenkinsrs208 (1 review written)

I am grateful for Amigo Loans. From the time I signed up with them and was approved they have been none other then helpful. I am able to go on a vacation that I knew I was not able to do. But Amigo Loans has made it all possible. They were very helpful from the time I applied for a top up until my guarantor was approved. The money was paid in a timely manner. Thank you once again Amigo Loans

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★☆☆☆☆

“Stay away from these ......”

Written on: 25/04/2018 by Sanaio29 (1 review written)

Arranged to get a small loan of 1000£ as was the difference i needed to buy a car tought they were fast altough i had a guarantor with excelent credit rating and myself have a good credit rating no CCJ or nothing they been with me on the phone and everything spoked with the guarantor said the money will be in around 2 hr to 48 had wait 3 days still nothing i rang them the say oohhh we have to confirm identity for your guarantor ok then ring him and confirm as i need to buy that particular car before it sels i rang my guarantor told him shortlly they gonna ring him 1 day later still not ranged him and the car was sold! Good review not really plus they apr is high! They have poor customer service and their staff speaks with you with disrespect! Never going to use them or try to use them again and i suggest you guys stay away from it as well!

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★☆☆☆☆

“48hrs ??? ”

Written on: 09/04/2018 by RCH911 (1 review written)

After phone calls to myself and my garantor waited 48 hours to be paid my loan. If you need fast cash don’t bother with these waste of time.

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Amigoloans's Response to RCH911's Review

Written on: 18/04/2018

Hi thank you for taking the time to leave your comments. We're sorry you weren’t happy with the Amigo experience.

We will always do everything we can to make sure your loan is paid out as quickly as possible.

We aim to pay out every loan within 24 hours of the guarantor being accepted. If you and your guarantor complete the application online, and all checks are completed without issue, we could get the money to you sooner.

When both you and your guarantor have signed the online agreement and completed your budget plans, we may give you both a quick call to confirm the monthly repayments are affordable. We'll always let you know when we can pay out your loan.

Some things that could slow your application down are:

1. If we're not able to speak to your guarantor when we call.

2. The property your guarantor owns is either in Scotland or Ireland (checking these addresses can take a little bit longer).

3. You've applied over a bank holiday or weekend, in which case we'll process your application as soon as we're back in the office.

4. We need something from you like proof of ID or a bank statement.

If you’d like us to, we’d be happy to look into this further for you. Please just email us with your details.

Thanks, the Amigo Loans team

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★☆☆☆☆

“Interest rates should not be aloud ”

Written on: 08/02/2018 by Merritthl1959 (1 review written)

The interest rate is diobolical and should not be aloud 49.9 better off going to loan Sharks I did it to help a friend without checking the interest what a mistake. Keep aaay at all costs

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Amigoloans's Comment

Written on: 12/03/2018

Hi, thanks for leaving your review. I'm sorry for the delay in responding to you.

We make our interest rate clear to all of our customers before they apply for a loan. On the face of it it probably looks a little higher than some of the mainstream lenders. However, we know that millions of people are unable to borrow from banks because they use credit scoring and won't accept them and by having a guarantor, we can charge a much lower APR than some other companies.

As interest is calculated daily, our customers are also able to reduce the amount of interest they pay, by making early or extra payments, or by settling early. We're quite unique in that we don't have any charges for doing so.

If you have any further concerns, we’d be happy to look into this for you. Please just email us with your details.

Thanks, the Amigo Loans team

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★★★★★

“Efficient,selfless service ”

Written on: 24/01/2018 by 95Foley (1 review written)

Spoke to a lovely young woman who solved all my query and set out the the timescales for the funds to be received, also really good tone and pace when asking the more uncomftable questions.

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★★★★★

“Very fast”

Written on: 09/10/2017 by Florian88 (1 review written)

Very fast and professional team, i have the money in my account in 2 hours. Talk on the phone and online aplication very easy. Thank you. I recomand to family and friends.

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★☆☆☆☆

“ i will neaver deal with take you to court after one...”

Written on: 04/10/2017

 i will neaver deal with take you to court after one missed payment then put lots of court charges on you account

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Amigoloans's Comment

Written on: 10/10/2017

Hi, thanks for posting your review of Amigo.

We're disappointed to see things didn't meet your expectations. If it would help, we’d be happy to look into what happened. Please just email us with your details.

Thanks, the Amigo Loans team

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★★★☆☆

“e-mails all went directly to junk mail”

Written on: 05/08/2017

This was my first time as guarantor. Probably did not receive the emails in the right order so got very confused especially when I was refused as not being a home owner. ( which I have been for the last 40yrs ) When I phoned I was told no problem, but then had lots of questions fired at me about my contributions to the household budget to which I had no answers as everything in our household is joint Eventually I was accepted & thankfully the money came through almost immediately. My grandson is now the happy owner of a camper van, so it was worth the confusion in the end

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Amigoloans's Comment

Written on: 10/10/2017

Hi,

Thank you for taking the time to leave your comments. We're sorry for the delay in getting back to you.

We're sorry you weren’t happy with the Amigo experience, and that there was some confusion at the application stage.

We would like to explain why we run through the process, as we do so with your best interests in mind. It’s really important we check the repayments are affordable before we approve the borrowing. As we're a responsible lender, the last thing we'd want would be to you in financial difficulty, if you were asked to make a payment. We understand that some customers may share their finances with someone else in their household, and we may sometimes ask a few further questions to ensure that we have an accurate understanding of your financial circumstances.

If you’d like us to, we’d be happy to look into this further for you. Please just email us with your details.

We are happy to hear that your Grandson is enjoying his new camper van!

Thanks, the Amigo Loans team

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Our helpful community of likeminded people will be happy to answer any questions that you have.

Before posting your question please check to see that it has not already been asked.

Thanks for asking a question.

Once we've checked over your question we will put it live on the site and our strong community of experts will hopefully give you some great answers that you find useful.

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Asked by Letitiascott32 on 25th August 2016 Report this content
If your credit isn't the best could you still receive a loan?

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Once we've checked over your answer we will put it live on the site so others can gain from your experience. We rely on members like you to sustain our vibrant community so thanks again, we couldn't do it without you.

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Asked by Mary85 on 12th February 2016 Report this content
Sounds silly. I applied on Tuesday and that was me just receiving my call tonight my guarantor (my mum) is to get her call tomorrow. I was just wondering does the guarantor get thoroughly screened on credit file, and do they discuss everything with them on there file?

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Asked by lareeta on 2nd August 2014 Report this content
I'm getting letters for someone else, the person does not live here. What should I do? 

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Answers (2)
Report this content philipwatling Written on: 04/08/2014
Tbh I wouldn't specifically know. However, by simply putting 'RTS - person not at this address' on the unopened mail and sticking it back in a post box, may be enough to stop them. If they persist phone Amigo and complain or email a complaint to them. Phoning would be best though I would advise.
Report this content intercityboi Written on: 04/08/2014
Just return them to Amigo, by writing 'Return to Sender - Unknown at this address'. The return address is normally on the reverse of the envelope. No need to add a stamp either, Amigo pick up the bill.
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