What sort of claims are included in the Scheme?
The Scheme pertains to any claim that you could have about an Amigo loan made between 28 January 2005 and 21 December 2020.
What’s the ‘Bar Date’?
The Bar Date could be the date that is last that you simply should be able to submit a claim into the Scheme. This really is also referred to as the Claims Submission Deadline.
Exactly why is the ‘Bar Date’ crucial?
In the event that Scheme becomes effective in late-May, we will inform all customers and publish a notice on our scheme web site. Clients will likely then have 6 months using this date to submit a claim into the Scheme.
You will not be able to submit a claim in the Scheme (even where you didn’t think you had a claim before the deadline had passed) if you miss the deadline (expected to be in late-November),. Notably, that you could have submitted in the Scheme if you miss the deadline, you also won’t be able to benefit from any future balance reduction in respect of a claim.
Just just What do clients have to do prior to the Bar Date?
In the Scheme before the Bar Date if you think you have a claim, you need to make sure that you submit it. You can easily submit your claim through the scheme website at https://www.amigoscheme.co.uk/
What exactly is a Scheme of Arrangement (Scheme)?
A Scheme is a Court-approved procedure which, in cases like this, enables clients with a legitimate claim to get redress re re payments being distributed in a good, equitable and efficient way. Clients (both borrowers and guarantors) should be invited to vote in the Scheme proposals because of the date associated with Scheme conference 12th May 2021. If customers approve the proposals in addition to Scheme can be authorized because of the Court, customers whom think they will have a legitimate claim for redress is likely to be expected to submit a claim online within 6 months. Your capability to create a claim for money will be increased in the event that you vote ‘for’ the Scheme. In the event that you choose not to ever vote, you might be enabling other people to consider on your behalf.
Exactly why is Amigo proposing a Scheme
A Scheme is just a procedure that may need client and Court approval, to allow us to fairly and equitably get and start thinking about all claims associated with loans created by Amigo. The purpose of the Scheme is always to secure an improved return for Amigo’s customers than will be feasible if Amigo went into insolvency. If the Scheme not be authorized by clients, Amigo goes into insolvency and creditors that are unsecuredincluding customers with claims for payment) would get absolutely absolutely nothing.
Just just just How will this influence me?
In the event that Scheme is authorized and becomes effective, all claims for payment should be managed through the Scheme and should you not submit a claim because of the due date, you won’t qualify for redress repayment. Your capability which will make a claim for money will be increased in the event that you vote ‘for’ the Scheme. In the event that you choose to not vote, you might be enabling other people to consider for you.
just What have always been we being expected to vote on?
You might be being expected to vote ‘for’ or ‘against’ the proposed Scheme by 12 May 2021. The Creditors’ meeting will virtually be held and it is presently planned to begin at 10am on 12 May 2021. You’ll have actually before the May that is 10th to online beforehand of this Creditor’s conference or inform us you wish to attend and vote during the Creditors’ meeting. If you vote ‘for’, this may enable clients making a legitimate claim to get a redress re re re payment in a fashion that is reasonable and equitable. Which means the method that is same be employed to appreciate similar claims, and all sorts of clients could have an equal possibility to get re re payment for his or her claims. No compensation will be available if you vote ‘against’ that will likely result in Amigo becoming insolvent (and no longer existing), in which case.
How do you determine if a claim is had by me?
If you think you had been supplied with an unaffordable loan(s) by Amigo or you have actually just about any claim in terms of an Amigo loan, in the event that Scheme creditors vote ‘for’ the Scheme it’s possible to submit a claim making use of the Scheme web site.
How do you vote?
Follow this link amigoscheme.co.uk to attend our web site to vote. We will contact you with increased information regarding the proposed Scheme. This can consist of a hyperlink into the Scheme internet site where you are able to vote on whether you’re in preference of the proposed Scheme. Because of the ongoing Covid-19 pandemic, you won’t have the ability to vote in person in the Scheme conference.
Where may I find my agreement number/customer reference number?
Your client guide is really a 8 number that is digit also called an understanding number. You will find this in your loan agreement , on the web account or in your Amigo application, as well as in almost all of the loan communications we’ve delivered to you. You can get in touch with our customer service team at 01202 629798, who will be able to help you if you can’t find your reference number, or are unsure whether you’ve found the correct number.