Amigo Loan Compensation

We are working with Clear Legal Marketing Ltd to help people claim compensation from Amigo Loans and to help the large number of people who could be owed compensation. 

  • Amigo have put aside a total of £115 million for refunds and compensation of mis-sold loans.

  • Average compensation is £4,600*

  • Top-ups and additional loans most likely to be approved for compensation


94% FOS Uphold Rate*

Amigo Compensation, What’s it all about?


In recent months, Amigo have come under scrutiny for their potentially soft lending criteria and affordability checks. Admitting to this, Amigo have confirmed that £9.3 million has been put aside to redress claims from Jan to June 2020.


Customers who believe that they were mis-sold an Amigo loan will be able to claim any interest paid plus an additional 8% compensatory interest . This is only on the basis that the individual struggled to pay back or had to use top-ups or subsequent loans to pay off their loan.


Following the recent surge in compensation claims for payday loans which has seen the likes of Wonga and Quickquid fall into administration, the need for more responsible lending has been highlighted and further opportunities to pursue claims have arisen.

Amigo Loans was founded in 2005 and has lent out over £730 million to a total of 220,000 people.

If you have taken out an Amigo guarantor loan and one or several of the following statements below applies to you, you may be entitled to Amigo loan compensation.

Mis-sold an Amigo Loan?


If you believe that you were mis-sold an Amigo loan, you now have the opportunity to request a refund.


Whilst you may have really needed the loan at the time, you may have found yourself in a worse financial position as a result and the loan should not have been granted in the first place.

If you already had a loan with Amigo and needed to borrow extra money, you may have been given extensions or top-ups, without adequate checks, only to put you under more financial pressure.


Amigo have put funds aside especially to compensate those who were overcharged or mis-sold loans – and you can start your claim with us by clicking on the button below.

Why Could I Be Given an Amigo Loan Refund?

During your application process, you may not have mentioned all of your debts and If this didn’t match with your credit record, the lender should have ensured to reaffirm this.
It is possible that you underestimated your monthly expenditure due to guesswork or eagerness to be eligible for your loan, and in such circumstances, if your figures appeared too low, your lender should have explored their reliability further.
At the time of your application did you have a regular income? If you were self-employed during this period or even had overtime that fluctuated, the lender should have looked at this.
Did you have evidence of recent applications for credit or previous problems on your credit record? Guarantor loans are specifically targeted at those with bad credit scores, however, the lender should have been conscious of whether your situation appeared to be worsening.
Whenever you topped up an existing loan, your lender should have ensured to run another set of checks concerning whether this was affordable. Had you missed any previous loan repayments? Had your finances deteriorated since your first loan? If so, the lender should have addressed the fact that their current loan could be unaffordable and as a result, capped any more lending.
The firm may only have carried out a brief affordability check on you because of your guarantors circumstance. Regardless of your guarantor’s financial status, the loan needed to reflect your personal repayment potential.

An Overview of Guarantor Refunds & Complaints


The first thing to consider when reviewing the eligibility for a guarantor loan complaint is whether a loan was affordable before given to you. 

In short, the appropriate definition of affordable is whether or not after repaying it in installments, on time, you have money left over to pay your bills to avoid further lending.

To summarise, if you had to borrow more money or became behind with bills as a result of your guarantor loan repayments, you have grounds to make an affordability complaint. This route is available regardless of whether you are still paying the loan, have stopped paying the loan and are relying on your guarantor or even if the loan has been repaid.  

If your affordability complaint is successful there are three potential outcomes. Should you still owe money, your interest is removed and you simply repay back what you borrowed. If your loan has now been repaid you will receive a refund of the interest in addition to 8% of the amount of your statutory interest.

We work on a no win no fee basis. We charge 36% (30% + VAT) on any successful claims of the total refund received from your lender If you cancel our service without our agreement after 14 days and after we submit your claim you will be liable to pay our full success fee should your claim be successful. You do not need to use our services to make a claim against your lender(s). It’s free to claim compensation from financial companies if you have lost money from a mis-sold financial product. You can do this yourself directly with the lender(s) and even if they reject your claim you can still take this to the Financial Ombudsman Service If you aren’t sure how to make the claim, you can get free, impartial advice from consumer organisations.

£9.3Million figure based on investor reports

*FOS uphold 94% of claims –

*Data from refunds received by Clear Legal Marketing Limited’s clients up to 17th July 2020.

Forces Compare has partnered with Clear Legal Marketing Limited to offer its clients the opportunity to reclaim compensation for mis-sold guarantor loans.  Clear Legal Marketing Limited is a Claims Management Company, (registered number 07933243) Ltd whose registered address is Unit 115-119 Timber Wharf, 42-50 Worsley Street, Manchester M15 4LD and who are Regulated by the Financial Conduct Authority. Its registration is recorded on the website Reg No: 833090, Registered with the Information Commissioners Office. Reg No: Z3370717 All calls to Clear Legal Marketing Ltd are recorded in line with the FCA requirements