Payments

Keeping your loan on track

We’ve made repaying your loan as simple as possible. No tricky menus, over-complicated options, or difficult obstacles - just straight-forward payments direct to your loan. And if you need to know any more than that, you’ll find it below.

How do I make payments?

When your loan is paid out, we set up a monthly Direct Debit. You can sit back, make sure you’ve set aside enough funds to cover your payments each month, and we’ll do the rest. Your agreed payments will come straight out of your account without you having to worry about a thing.

We also take your debit/credit card details as a backup. If your Direct Debit fails and you haven’t been in touch to let us know not to, we’ll use these details to catch up on the payment to stop your account falling behind. This keeps everything running smoothly and stops your account running into any issues.

It’s important to keep your account up to date as this is your contractual agreement and could help build your credit rating. Saying that, we do understand things can happen unexpectedly and this may not always be possible - more on that further down.

Can I make extra payments?

Want to make extra payments, catch up on a late payment, or settle your loan early? Well, you’ve got options:

  • Download our free App here: amigoloans.co.uk/mobile-app. The App is currently only available to borrowers, but is an easy way to keep track of your account and make payments.
  • Call our 24 hour automated payment line on 01202 560 996. Less conversational than a real person but friendly all the same.
  • Log in to your online account.
  • Text the word ‘PAY’ to 07595553371. We’ll send you an Easypay link so you can make an online payment without logging into your account.
Can I pay by PayPoint?

You can make cash payments at any one of over 28,200 stores that have PayPoint available. You can find your PayPoint barcode in your online account. Quick reminder - a payment through PayPoint takes up to 48 hours to show on your account. You’ll need to make sure your payment is made in plenty of time so that you don’t miss your payment date.

Where can I find my payment details?

Any payment details we hold for you will be visible on your online account under the ‘Repayments’ tab. You can log in on our website or, if you’re a borrower, download our free App.

Can I settle early?

You can settle your loan at any time, or make extra payments on top of the regular monthly instalments. Just use one of the payment methods mentioned above.

To see how this could affect the interest accruing on your loan, have a quick look over our dedicated guide. We know interest can be far from straight-forward so we’ve set out to show that, actually, it can be quite simple.

And one more thing to add. We don’t apply any fees or charges for making overpayments or settling early. No fees, ever.

How do I change my payment date?

To change your payment date, log into your account (online or, if you’re a borrower, through the mobile App) and click on the ‘Repayments’ tab. Then you’ve just got to choose the date you want. Easy really.

Before you go rushing into it though, we do have a couple of rules you’ll need to consider:

  • You can’t move the date of your first payment;
  • You can’t move the date if your account is behind on payments;
  • If you usually pay by Direct Debit then you’ll need to give us 5 working days notice before your payment is due so that we can tell the bank;
  • If you usually pay by card, you won’t be able to move your payment date on the day your payment is due;
  • You can only change your payment date once in a 2 month period;
  • You can only move your payment date further away a maximum of 3 times a year and 5 times over the total loan term;
  • You can only move your payment date further away by a maximum of 20 days. For example, if your payment is due on the 3rd of every month, the furthest you can move your date to is the 23rd.

What if I can’t make my payments?

If for any reason you can’t pay, the first thing to do is to let us know. We know that life doesn’t always go to plan, but the main thing to remember is that we’re here to help. Where possible, we’ll always try to work with you directly to get things back on track without needing to ask your guarantor to step in.

That’s why we’re here - to give second chances to people that have struggled. You can speak to us on 01202 629 161 (9am-7pm Mon-Thurs; 9am-6pm Fri; 9am-1pm Sat).

Will you ask my guarantor to pay?

While your account is up to date, we shouldn’t need to ask your guarantor for a thing. And if you miss any payments, we’d still much rather work with you to get things back on track directly.

The only time we may need to ask your guarantor to pay is if your account is in arrears and we haven’t been able to come to a plan that’s right for the account. This could be if there’s a risk of your account falling further behind or if we just don’t hear from you. By asking your guarantor to step in, this helps prevent the loan term extending or any arrears from building and becoming unmanageable.

If we do ask your guarantor to step in, we’ll always let them know first before attempting for payment once the account is behind by 15 days. We’ll only ever ask your guarantor to pay in line with their agreement and when it’s in both your best interests.

Can I make a late payment?

If something has happened and you’re not sure if you’re going to be able to make a payment on time, don’t panic. Get in touch, have a chat with us, and we’ll try to see what we can do.

If there’s been a permanent change in your situation then simply changing your monthly repayment date could be the best option. 

Otherwise, give us a call on 01202 629 161 (9am-7pm Mon-Thurs; 9am-6pm Fri; 9am-1pm Sat). We’ll discuss your situation to work out the most reasonable way to bring the account back up to date.

We’d always prefer to help you directly, but if we can’t get things sorted then we may need to ask your guarantor to step in. This prevents any chance of the arrears building and possibly becoming unmanageable.

How long until my guarantor is contacted about a missed payment?

If your payment isn’t received on your payment date, we’ll need to notify both you and your guarantor as soon as we’re aware. We made a promise to your guarantor to keep them in the loop about anything that could potentially affect them, and that includes any late payments.

To assure you, that doesn’t mean we’re asking them to pay already. It’s just in case we can’t work anything out with you directly and they need to cover for you in the near future. This avoids any surprises and means they can begin setting funds aside if it’s needed.

Can I make a smaller monthly payment or reduce my payments?

If you’re struggling with your payments, or know of anything coming up that could make your payments a little difficult, then we’re here to help. The last thing we want is to make you worse off, so get in touch as early as you can and we’ll try to find a solution. We’ll need a discussion around your circumstances and, if it’s reasonable, we may be able to put an arrangement in place until your circumstances pick up again.

Just bear in mind, any arrangement needs to be affordable and reflect how much is outstanding on the loan (don’t worry about that now; we’ll discuss this in further detail when you get in touch).

If the full payments are still affordable after your other living costs have been considered, we’d also expect you to continue paying the loan as normal. This stops the account falling behind or the loan term extending unnecessarily.

Can I take a payment break?

We’re not able to offer payment holidays or breaks, but that doesn’t mean we can’t help. If you’re struggling to make your payments, speaking with us means we can understand your situation and see what options are available.

Any other questions about your payments?

Let’s see what we can do.

What if my payment lands on a weekend or bank holiday?

If you pay by Direct Debit, we won’t take a payment until the next working day. There’s no need to worry about your account falling behind as we know your payment is on its way.

If you pay by card or PayPoint, the repayment is still needed on the usual date. PayPoint payments can often take up to 48 hours to reach us so make sure you leave enough time if using this payment method.

Are there any late payment charges?

We don’t have any fees or charges whatsoever. Whether that’s for late payments, settling early, or just making an application, we will never charge you. The easiest way to remember is to think of the number ‘zero’.

How do I find out how many payments I have left?

There’s a few different ways to check your balance and see how many payments you have left:

Our interest is calculated daily, so your balance may change each day and with each payment you make.

How will you appear on my bank statement?

Any payments you make towards us will show on your bank statements as Amigo Loans Ltd or Amigo Loans.

Anything we haven't covered?

Check out our guides below: