Amigo Loans puts itself on the block – what this means for borrowers and may you nevertheless repay loans?

GUARANTOR loans company, Amigo, has put itself on the block in the face of just what it calls a “challenging operating environment” that is seen other comparable loan providers get under.

Whilst the loan provider states it “remains confident”, its owners state they have been concerned by “increased force” and whatever they state may be the changing approach associated with the Financial Ombudsman provider to complaints.

Cash advance complaints soared by 130 percent in 2018 (the newest numbers available) utilizing the Ombudsman accepting almost 40,000 brand new complaints.

So when Wonga went breasts, it was said by it mightn’t handle need for mis-selling payment, which saw complaints about unaffordable loans rise threefold. Weiterlesen