Firstly, we’d like to apologise that it’s been a while since we last reached out to you. Although this is not an update on a new Scheme, we wanted to let you know what we’ve been doing and where we currently are.
We continue to work with all stakeholders, including our regulator, to ensure customers get the best possible outcome.
Introduction of a Customers’ Committee
This time we’ve looked to increase customer involvement which means we've put together a Customers’ Committee. This Committee is made up of eight volunteers selected at random from past and present borrowers and guarantors. The Committee has been given completely independent advice (paid for by Amigo) and has been discussing what they as customers would want the new Scheme terms to be.
What’s happening now?
We are working with the Customers’ Committee to come up with a solution that provides the best possible outcome to anyone with a valid claim. We don’t yet have any timeframes on when we’re likely to announce anything, but we will be in touch as soon as we have anything we can tell you.
An update on outstanding complaints
We understand that some customers will still be waiting for a response to their outstanding complaint. As we are still working hard on what a new Scheme could look like, our pause on progressing certain complaints, and paying redress, remains in place.
We’d like to reassure all customers that processing complaints is very important to us and we’re working to find the fairest way for all customers with a valid claim to receive redress.
Any complaint that is currently raised with Amigo, and paused, will be addressed as part of the planned Scheme (even if you have settled your loan). We intend to provide an update to all customers as soon as possible, when we have details to share.