Amigo Loans closure, refunds and old account queries
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This information and enquiry service is not a full financial assessment or a guarantee of suitability or debt write-off. Debt solutions are not suitable for everyone. Fees may apply, and your credit record and assets may be affected. Get advice on your circumstances before choosing a solution.
MoneyNerd introduces enquiries to The Debt Advice Service and may receive a referral fee. For free, independent guidance and help finding a debt adviser, visit MoneyHelper.
This information and enquiry service is not a full financial assessment or a guarantee of suitability or debt write-off. Debt solutions are not suitable for everyone. Fees may apply, and your credit record and assets may be affected. Get advice on your circumstances before choosing a solution.
Amigo is no longer lending. Its former loan and redress arrangements should not be treated as a current loan product or an open invitation to submit a new Scheme claim.
What happened to Amigo?
Amigo stopped new lending in March 2023. Its subsidiaries, including Amigo Loans Ltd and the Scheme company, entered solvent liquidation in September 2025. See the company’s official market announcement and the Companies House insolvency record.
Can I make a new affordability claim?
The Amigo redress Scheme had a claims deadline of 26 November 2022. It is not an open claims route. The FCA’s published account of the Scheme explains that background. Do not pay a claims company on the assumption that it can reopen a closed Scheme or guarantee compensation.
| Option | How it works | Key limits and risks |
|---|---|---|
| Debt management plan | Informal repayment of eligible non-priority debts through an affordable budget. | Creditors need not agree, freeze interest or stop court action. Fees apply with some providers; free providers exist. |
| IVA | Formal agreement covering eligible debts and accepted through the creditor voting process. | Fees, credit effects, asset/equity terms and failure risks apply. Payments and term depend on the agreed proposal. |
| DRO (England and Wales) | Normally 12 months of protection before qualifying debts are discharged if the order remains in force. | Current qualifying-debt limit £50,000; strict income, asset, vehicle and residence conditions. Homeowners are not eligible. Application is through an approved adviser to the Insolvency Service, not a court. |
| Bankruptcy (England and Wales) | Formal insolvency that can discharge qualifying debts. | Assets and employment may be affected. Discharge is usually after 12 months, but income payments may continue for up to 3 years. |
| Consolidation loan | New borrowing to repay selected existing debts. | Does not write off debt. Fees or a longer term can increase the total paid; secured borrowing puts your home at risk. |
| Agreed payment break or reduced payments | A temporary arrangement negotiated with the creditor. | Interest may continue, credit reporting can be affected, and the debt remains. Terms require agreement. |
| Informal negotiation | Ask creditors for affordable payments or a settlement. | Acceptance is not guaranteed; record terms in writing. Priority bills still need separate attention. |
| Equity release | Eligible homeowners may access property value through a lifetime mortgage or home reversion. | Reduces the estate and may affect benefits or care funding. Requires specialist advice and comparison of alternatives. |
What if I am waiting for an old refund?
Keep your claim decision, account references and payment correspondence. Check the liquidator’s details through the official Companies House filings and ask how to raise an outstanding query. Different types of refund or unclaimed money can follow different processes; the fact that someone received a Scheme payment does not establish that another person is entitled to one.
Understand your debt options
MoneyNerd can introduce you to The Debt Advice Service for free debt advice. MoneyNerd does not provide debt advice or recommend debt solutions.
The Debt Advice Service can explain your options, including their benefits, costs and risks. Options available depend on your circumstances. There’s no obligation to take a debt solution.
MoneyNerd does not provide debt advice or recommend debt solutions. The Debt Advice Service is a trading style of Pacific Financial Solutions Limited. If you request an introduction, we’ll share your details with their team so they can contact you.
Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd is a commercial introducer and may receive a fee if you go ahead with a debt solution through The Debt Advice Service.
For free, impartial money guidance and help finding free debt advice, visit MoneyHelper.
Do not send identity documents, bank details or money through an old bookmark without verifying that the recipient still represents the company or liquidators. A former website address can change ownership after a business closes.
» TAKE ACTION NOW: Fill out the short debt form
What if someone is collecting an old Amigo balance?
Closure of the original lender does not by itself prove that a loan was written off. Check the latest account and transfer notices to establish whether the balance was settled, written off or transferred to another owner. Ask for the account statement and evidence of authority to collect if a demand is unclear.
Take the first step towards tackling your debt
Every day, our partner, The Debt Advice Service, helps people understand their options for dealing with debt. Their debt advice is free, with no obligation to proceed.
MoneyNerd introduces you to The Debt Advice Service. We do not provide debt advice or recommend debt solutions.
Natasha
Very helpful and informative thank you
If you submit the enquiry form, MoneyNerd will share your details with The Debt Advice Service so they can contact you.
Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd may receive a fee if you go ahead with a debt solution through The Debt Advice Service.
The Debt Advice Service is a trading style of Pacific Financial Solutions Limited.
For free, impartial help and access to not-for-profit debt advice, visit MoneyHelper.
If the debt is valid but unaffordable, contact the current owner or authorised servicer and seek free debt advice. A guarantor may also need advice about their own position. Cancelling a payment instruction does not cancel the debt.
What about complaints to the Ombudsman?
A historic Scheme complaint, a liquidation query and a complaint about a current debt collector may follow different routes. Ask the relevant firm for its complaints process and check the Financial Ombudsman’s current jurisdiction and time limits before assuming it can decide the issue. Keep copies of correspondence and any final response.
Get help with wider debt problems
A free debt adviser can help check a disputed balance, prioritise essential bills and compare suitable debt options. Eligibility, costs and consequences differ. MoneyNerd provides general information; it does not decide whether your individual loan is enforceable or whether a refund is due.
