Amigo Loans sets itself on the block – what this means for borrowers and really should you still repay loans?

Amigo Loans sets itself on the block – what this means for borrowers and really should you still repay loans?

GUARANTOR loans company, Amigo, has placed it self on the block in the face of exactly what it calls a “challenging operating environment” that is seen other comparable loan providers get under.

As the loan provider says it “remains confident”, its owners say they truly are concerned by “increased force” and whatever they say may be the changing approach of this Financial Ombudsman Service to complaints.

Pay day loan complaints soared by 130 % in 2018 (the newest numbers available) with all the Ombudsman taking on almost 40,000 brand new complaints.

So when Wonga went breasts, it stated it mightn’t deal with need for mis-selling settlement, which saw complaints about unaffordable loans rise threefold.

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