Terms & Conditions

Pre-contract information

Before you agree to this agreement, you should read the pre-contract credit information that we have given you. The pre-contract credit information contains some really important information. Once your loan has completed, this agreement will be legally binding. So, if there’s anything that you don’t understand about this agreement, you need to ask us now.

back to top ↑

Repaying your loan

You agree to pay us the amount you borrowed, including interest and any other charges, in instalments on the agreed monthly payment date. These payments are very important and you will be breaking this agreement if you do not make them.

back to top ↑

Interest and how we work it out

When you borrow money from us, you pay back the amount you borrowed plus interest.

We work out interest every day based on your debt. We add the interest to your debt each month, on your payment date.

At any time we may increase or reduce the rate of interest we charge you. Any change will apply to your debt from that time. We’ll only make this change to reflect changes in the market rates and the cost of our funds. If we change the rate of interest we charge you, we’ll write to tell you about the change before it happens. If we increase it, we’ll give you 28 days’ notice. If we reduce it, we’ll give you seven days’ notice. When we change the rate of interest, we may increase or reduce the number of monthly payments; or increase or reduce the amount of the monthly payments (or both).

back to top ↑

When you need to pay the monthly payments

You can ask us at any time to change your monthly payment date. We’ll consider your request but we can refuse to change the date. If we want to change the monthly payment date, we’ll tell you at least two months before we make the change (unless you agree to us making the change).

back to top ↑

Breaking the agreement

You will have broken this agreement if:

• you don’t pay your monthly payment on time;
• you break any of the other conditions of this agreement;
• you made a statement which is false or misleading when you applied for this agreement;
• a bankruptcy petition is presented against you;
• you make arrangements with your creditors about how much you will pay them (this is sometimes known as an individual voluntary arrangement or IVA); or
• the guarantor exercises a right to cancel the guarantee and indemnity.

If the manner in which you have broken the agreement is serious and cannot be put right or you have repeatedly committed the break, we may:

• send you a default notice;
• close your account; and
• demand immediate payment of your debt.

If you are behind with your payments, we may ask you to pay the missed payments (then ask your guarantor) by taking an amount using debit or credit card details authorised for use under this agreement. We may take court action against both you and your guarantor by applying for an attachment of earnings order (where we have the court’s permission to get your employer to pay us out of your salary), warrant of execution (which may involve a bailiff visiting your property), property charging order (where we get rights to be paid out of the money paid when you sell your property) or the Scottish and Irish equivalents.

We may also end this agreement if you die.

back to top ↑

How we use your payments

When you make a payment, we will use it to pay your balance in the following order. Firstly, we pay any interest that we have added to your debt and secondly we pay it towards the balance of your debt.

back to top ↑

Our rights

If we delay in enforcing our rights under this agreement, it will not affect our rights. We may also accept late payments or partial payments, or cheques and money orders marked payment in full or something similar, without losing any of our rights under this agreement.

back to top ↑

Paying your broker

This section only applies to you if you applied to us through a broker or credit intermediary (‘broker’). Your broker may have done work processing your application before we paid you the loan and, where you have agreed to pay your broker for this, it is shown as the fee you have already paid to the broker. If we are to pay a further fee to your broker (as a commission for introducing you to us) it is shown as the amount which we will pay to the broker as a commission. By signing this agreement you give us authority to pay your broker this amount on the date of the agreement. We will add this amount to your account and you will have to pay interest on it.

back to top ↑

You must tell us about any changes

Every so often we need to contact you about your account. To make sure we can do this, you must tell us (within seven days) if you’ve changed your home address, your name, your email address, or any phone number that we use to contact you.

You can tell us about any change in writing at our normal address, by phone, or using the ‘My Account’ service at www.amigoloans.co.uk.

If we need to contact you, we’ll send all notices, information and statements to your address shown on the agreement or your last known address. We may send some notices by email, text message or phone instead.

back to top ↑

General

We really don’t want to take you to court. If we have to, until we’ve received all the money you owe us, we will charge interest at 3.43% a month (before and after any court judgment).

You agree that if any part of this agreement is not valid or cannot be enforced, it will not affect any other part of this agreement.

Sometimes we can’t meet our promises to you because of matters beyond our reasonable control. This would include a problem with a computer system, a third-party supplier (such as the postal service) or an industrial dispute. In these cases, we will not be legally responsible to you.

This agreement applies only to you and you may not transfer it or any of your rights and responsibilities under the agreement. For business reasons, we may transfer our rights under this agreement without your permission.

You’ve the right to receive a statement of account. You can ask for this at any time during the term of the loan and it is free of charge. It will include details of each repayment you owe under the agreement, the date each repayment is due, the amount and any conditions which relate to the repayment. It will also break down each repayment, showing how much covers the amount you borrowed (capital) and how much is interest.

We may record or monitor phone calls.

back to top ↑

Repaying the loan early

You have the right to pay off some or all of the debt that you owe us at any time. You must give us notice that you want to do this. If you want to pay off your debt in full, you must tell us the date on which you plan to do this. You can contact us at Amigo Loans, Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX or by phone on 01202 629161. If you want to pay off the loan in full, we will send you a statement setting out what you owe. When you make a partial payment, we will first use it to pay any arrears or overdue interest and will then apply the payment to reduce the term of the agreement. You may ask us to send you a statement.

back to top ↑

Law and language applied to this agreement

English Law governs the agreement unless you live in another part of the UK, in which case the agreement is governed by the law in that part of the UK.

The language used in this agreement and any communication with us will be English.

back to top ↑

What you should do if you have a complaint

We’re committed to dealing with all complaints, fully and fairly, and in a reasonable time. If you have a complaint about the agreement or anything we’ve done, please let us know. You can make a complaint over the phone, on our website at amigoloans.co.uk or by writing to Amigo Loans Complaints, Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX.

You have a right to refer your complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR, by email to complaint.info@financial-ombudsman.org.uk or by phone on 0845 080 1800.

back to top ↑

Who regulates us?

The Office of Fair Trading, Fleetbank House, 2-6 Salisbury Square, London, EC4Y 8JX is the supervisory authority under the Consumer Credit Act 1974. Consumer Credit licence number 557709.

Registered with the Information Commissioner’s Office Z8738456.

back to top ↑

Definitions

‘Debt’ means any money we pay to you or to your guarantor on your behalf as a result of this agreement or any extension or amendment to it. It also includes any fees we pay on your behalf.

‘You’ and ‘your’ means the person who is borrowing the loan from us, whose name and signature appear on the credit agreement.

‘We’, ‘us’ and ‘our’ means Amigo Loans Limited.

‘Guarantor’, means the person who has agreed to guarantee us full repayment of your loan if you fail to meet any payments due and whose name and signature appear on the guarantee and indemnity.

‘Agreement’ means the consumer credit agreement regulated by the Consumer Credit Act 1974 that you propose to enter into with us (Amigo Loans Limited) for a personal loan.

‘Guarantee and indemnity’ means an agreement where the guarantor agrees to be responsible for your debt if you break this agreement, and to compensate us for any and all loss.

‘Account’ means the Amigo Loans account, which is opened in your name when we sign this agreement.

back to top ↑

Sharing information

We and other members of our group or certain other selected organisations will use the information you provide to consider any application and loan. You agree that we may hold and process, by computer or otherwise, any information we gather about you as a result of this agreement and any other agreements or applications you have made with us. Where necessary, for any of the above purposes, as well as to prevent fraud and money laundering, we may release your personal information to our regulators, to other members of our group and to fraud-prevention and law-enforcement agencies or to anyone we transfer our rights and duties to under this agreement. We may also release your personal information to others (such as mailing agencies) who carry out certain aspects of the administration of this agreement for us. We may also release information about payments made under the account to the person who introduced you to us (for example, a credit broker or under our refer-a-friend scheme). If you write and ask us, you have a right to receive a copy of the information we hold about you. You will need to pay a fee. Please contact us at Amigo Loans, Walton House, 56- 58 Richmond Hill, Bournemouth, BH2 6EX, if you want to receive details of the relevant fraud-prevention and law-enforcement agencies. For general information on your rights in terms of the information we hold about you, please visit: www.ico.gov.uk/for_the_public.aspx

back to top ↑

Credit-reference agencies

When you apply for an Amigo Loan, we will look at your credit file at credit-reference agencies such as Call Credit, Equifax or Experian. The credit-reference agencies will give us credit information about you including information from the electoral register. This credit search is used to check your identity and your eligibility for a loan. We do not use this information to credit score you. The creditreference agencies will add details of our searches and your application to the record which they hold about you. The credit-reference agencies will also add details of your loan agreement with us, the payments you make under it and any default or failure to keep to its terms. Your credit-reference agency records will be seen by other organisations that make searches with those agencies. To prevent fraud, we will check your details with fraud-prevention agencies. If you provide false or inaccurate information and we suspect fraud, we’ll record this.

We and other organisations may use and search these records to:

• help make decisions about credit and credit-related services for you and members of your household;
• trace debtors, recover debt, prevent fraud, and to manage your accounts; and
• check your identity to prevent money laundering unless you give us other satisfactory proof of identity.

If you want to receive details of those credit-reference and fraud-prevention agencies from whom we gather and with whom we record information about you, write to us at Amigo Loans, Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX. You have a legal right to these details. The credit-reference agencies and fraud-prevention agencies will also use the records to analyse statistics on credit and fraud.

back to top ↑

These are the terms which apply to the guarantee and indemnity you will give us. Once the borrower agreement has been entered into, this guarantee and indemnity will be legally binding, so if there’s anything that you don’t understand, you need to ask us now.

Some of the words in this agreement are defined and you can find the definitions in the section headed ‘Definitions’.

back to top ↑

Pre-contract information

Before you agree to provide this guarantee and indemnity you should read the pre-contract credit information that we have given you. The pre-contract credit information contains some really important information.

back to top ↑

The loan

We will pay you the loan amount for you to pay to the borrower – this is to prevent fraud.

back to top ↑

Your responsibility

In return for us entering into the borrower’s agreement (a copy of which you will have seen) with the borrower, you will:

• pay the borrower the amount they borrowed when you receive it from us;
• agree that if the borrower fails to make any payment under the borrower’s agreement to us on the agreed payment date, you will immediately make that payment;
• guarantee that if we demand you will immediately meet all of the borrower’s responsibilities under the borrower’s agreement; and
• guarantee that the borrower will carry out all of their responsibilities due and owing under the borrower’s agreement.

As well as the points above, and as a separately enforceable responsibility, you will indemnify (protect) us and keep us indemnified against any losses, claims, damages or expenses resulting from or arising out of the borrower’s agreement or if the borrower breaks any of their responsibilities. You must immediately pay us any loss if we demand it.

Your responsibilities under the guarantee and indemnity are the same as if you were a borrower. This means we do not have to make any demand on, or take any steps against, the borrower or any other person, before enforcing this guarantee and indemnity

back to top ↑

Continuing guarantee

This agreement will not be affected by:

• any change to the borrower’s agreement;
• any other security guarantee or security we take relating to the borrower’s responsibilities;
• any time we allow or other compromise in terms of paying off the loan or arrangement, or if we accept late payments or agree to release or not to sue the borrower or any other guarantor or indemnifier;
• any security taken for the borrower’s agreement or the failure to realise or enforce any security or the failure to take any security;
• the borrower dying, becoming bankrupt or insolvent;
• the borrower entering an individual voluntary arrangement (IVA), debt relief order (DRO) or similar;or
• us transferring our rights and responsibilities under the borrower’s agreement.

back to top ↑

Independent advice

You should not act as a guarantor unless you are sure you know exactly what the responsibility is that you are taking on. If you are at all unsure we strongly recommend that you take independent legal advice from your solicitor or your local citizens advice bureau.

back to top ↑

You must tell us about any changes

Every so often we need to contact you about the borrower’s agreement. To make sure we can do this, you must tell us within seven days if you’ve changed your home address, your name, your email address, or any phone number that we use to contact you.

You can tell us about any change in writing at our normal address, by phone, or by using our online ‘My Account’ system at www.amigoloans.co.uk.

If we need to contact you, we’ll send all notices, information and statements to your address on this agreement or your last-known address. We may send notices to you by email, text message or phone instead.

back to top ↑

General

You agree that if any part of the guarantee and indemnity is not valid or cannot be enforced, it will not affect any other part of this guarantee and indemnity.

Sometimes we can’t meet our promises to you because of matters beyond our reasonable control. This would include a problem with a computer system, a third-party supplier (such as the postal service) or an industrial dispute. In these cases, we will not be legally responsible to you.

This guarantee and indemnity applies only to you and you may not transfer any of your rights and responsibilities under it. For business reasons, we may transfer our rights without your permission.

There may be taxes or costs that you may need to pay in connection with this guarantee and indemnity but we are not aware of any. We may record or monitor phone calls.

back to top ↑

The law and language that applies to this guarantee and indemnity

English law governs this guarantee and indemnity and the English courts will have the right to deal with any disputes unless you live in another part of the UK, in which case this guarantee and indemnity is governed by the law and courts in that part of the UK.

The language used in this guarantee and indemnity, any information and any communication with us will be English.

back to top ↑

What you should do if you have a complaint

We’re fully committed to dealing with all complaints, fully and fairly, and in a reasonable time. If you have a complaint about the guarantee and indemnity or anything we’ve done, please let us know.

You can make a complaint over the phone, on our website at www.amigoloans.co.uk, or by writing to Amigo Loans Complaints, Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX.

You have a right to refer your complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR, by email to complaint.info@financial-ombudsman.org.uk or by phone on 0845 080 1800.

back to top ↑

Who regulates us?

The supervisory authority under the Consumer Credit Act 1974 is the Office of Fair Trading, Fleetbank House, 2-6 Salisbury Square, London. EC4Y 8JX. Consumer Credit licence number 557709. We are also registered with the Information Commissioner’s Office Z8738456.

back to top ↑

Definitions

‘Debt’ means any money we pay to you on behalf of the borrower as a result of the guarantee and indemnity and the borrower’s agreement or any extension or amendment to either of them. It also includes any fees we pay on the borrower’s behalf.

‘Borrower’ means the person who is borrowing the loan from Amigo Loans, whose name and signature appears on the borrower’s agreement.

‘You’ and ‘your’ means the person whose name appears on the guarantee and indemnity and who has agreed to guarantee full repayment to us of the borrower’s loan if the borrower fails to meet any payments due.

‘We’, ‘us’ and ‘our’ means Amigo Loans Ltd (and anyone we transfer this guarantee and indemnity to).

‘Borrower’s agreement’ means the Consumer Credit agreement regulated by the Consumer Credit Act 1974 that the borrower plans to enter into with us (Amigo Loans Limited) for a personal loan.

‘Account’ means the Amigo Loans account, which we opened in the borrower’s name when we sign the borrower’s agreement.

back to top ↑

Sharing information

We and other members of our group or certain other selected organisations will use the information you provide to consider any application and borrower loan. You agree that we may hold and process, by computer or otherwise, any information we gather about you as a result of this guarantee and indemnity and any other agreements or applications you have made with us. Where necessary, for any of the above purposes, as well as to prevent fraud and money laundering, we may release your personal information to our regulators, to other members of our group and to fraud-prevention and law-enforcement agencies or to anyone to whom we have transferred our rights and duties under this agreement. We may also release your personal information to third parties (such as mailing agencies) who we may carry out certain aspects of the administration of this guarantee and indemnity for us. We may also release information about payments made under the account to the person who introduced the borrower to us (for example a credit broker or under our refer-a-friend scheme). If you write and ask us, you have a right to receive a copy of the information we hold about you. You will need to pay a fee. Please contact us at Amigo Loans, Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX, if you want to receive details of the relevant fraud-prevention and law-enforcement agencies. For general information on your rights relating to the information we hold about you, please visit: http://www.ico.gov.uk/for_the_public.aspx

back to top ↑

Credit-reference agencies

When you ask to act as a guarantor we’ll look at your credit file at credit reference agencies such as Call Credit, Equifax or Experian. The credit-reference agencies will give us credit information about you including information from the electoral register. The credit-reference agencies will not add details of our search or your application to the record which they hold about you. However, they may add details of any default or failure to keep to the terms of this loan. Your credit-reference agency records will be seen by other organisations that make searches with those agencies.

To prevent fraud we’ll check your details with fraud-prevention agencies. If you provide false or inaccurate information and we suspect fraud, we will record this. We and other organisations may use and search these records to:

• help make decisions about credit and credit-related services for you and members of your household;
• trace debtors and guarantors, recover debt, prevent fraud, and to manage your guarantee and indemnity; and
• check your identity to prevent money laundering unless you give us other satisfactory proof of identity.

If you want to receive details of those credit-reference and fraud-prevention agencies from whom we gather and with whom we record information about you, write to us at Amigo Loans, Walton House, 56 - 58 Richmond Hill, Bournemouth, BH2 6EX. You have a legal right to these details. The credit-reference agencies and fraud-prevention agencies will also use the records to analyse statistics on credit and fraud.

Amigo Loans Ltd. Registered in the UK, number 4841153. Walton House, 56 - 58 Richmond Hill, Bournemouth BH2 6EX

back to top ↑