Amigo Loans Ltd

Financial Ombudsman decision DRN5258024 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Fri Mar 01deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Irresponsible lending, Support for vulnerable customers

In the Ombudsman’s words

Mr Z says that he never met the criteria for being a guarantor because he wasn’t and isn’t a homeowner. Amigo Loans say that they might be more likely to accept someone as a guarantor if they are a homeowner but it isn’t part of their criteria.Irresponsible lending

I understand that Mr Z is struggling with his finances. Amigo Loans are aware of this and they have put the account on hold while Mr Z’s complaint has been looked into. I would expect them to treat Mr Z positively and sympathetically in this situation.Support for vulnerable customers

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN5258024.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.