IMPROVE: when your household earnings happens to be affected by Coronavirus, you are able to ask Amigo as well as other guarantor loan providers for 3 thirty days repayment break. During this period the loan provider will never be able to inquire about your guarantor for repayment. If you currently had one repayment break, you’ll request an extra three month break if you’re nevertheless impacted

This is applicable whether or otherwise not you’re making an affordability issue, that will be just exactly exactly just what the others of the article talks about.

Guarantor loans have become costly. Usually the loan provider didn’t always check correctly that it is possible to control the mortgage repayments and never have to borrow more.

If appropriate checks might have shown that one couldn’t spend the money for repayments, complain! There is certainly a template page in this informative article to assist you.

You will get a preexisting loan reduced you borrowed, or get a refund if your loans have been repaid so you only repay the amount

In the event your grievance is refused it is possible to deliver the instance to your Financial Ombudsman (FOS) that is upholding a great deal (90per cent!) of guarantor loan complaints.

If you should be the guarantor perhaps not the debtor, read whining if you should be a guarantor which includes an alternative template letter to make use of.

What’s an affordability problem?

That loan is certainly not affordable if having to pay it left you therefore in short supply of cash you had to top within the loan, or borrow more from another loan provider or get behind with bills. Read more