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  • #1

    Richmond Group - Amigoloans

    Anyone seen the latest TV Advert........
    Amigo Loans

    This is the company 'Richmond Group' first part of there paragraph:
    Have you ever wanted to change the world? Us too. Since 1999, The Richmond Group has been on a mission to make financial services available to anyone left out in the cold by high street banks.
    This is there latest venture:
    Amigo Loans
    ABSOLUTELY NO CREDIT SCORING - BORROW UP TO £5000 - If your friends trust you, we can too - REPRESENTATIVE 49.9% APR (variable)
    Q: Are they allow to take your details (Loan amount, name, d.o.b. contact numbers, Postcode before you can read/view the T&C on the website before even inputting your information?

    As they say: Your pre contract and information explaining the loan will be emailed to you, please read this carefully before signing the agreement.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.
    Tags: act, advert, amigo loans, amigoloans, apr, banks, cold, con, contract, court, credit, debt, default, details, family, financial, financial services, friends, loan, loans, money, payday, payday loan, postcode, rac, rate, richmond group, scoring, services, size, tv advert, update, website, world, £50
  • #2
    Re: Richmond Group - Amigoloans

    "Guarantor loans" I presume?
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Richmond Group - Amigoloans

      Ah, yes. Looks like it.

      From the waffle at the end of their incomplete T&Cs anyway.

      Terms and Conditions

      And their FAQ.

      Contact Us

      Obviously they do their best to avoid mentioning that on the front page until you are suckered in, as who really wants to screw their friends and family over with a dodgy loan on top of themselves. :/
      Last edited by Riz; 7 May 2012, 09:22.
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: Richmond Group - Amigoloans

        Originally posted by rizzle View Post
        "Guarantor loans" I presume?
        Yes
        Originally posted by rizzle View Post
        Ah, yes. Looks like it.

        From the waffle at the end of their incomplete T&Cs anyway.

        Terms and Conditions

        And their FAQ.

        Contact Us

        Obviously they do their best to avoid mentioning that on the front page until you are suckered in, as who really wants to screw their friends and family over with a dodgy loan on top of themselves. :/
        thanks
        looks like a cut & pasta on these T&C
        General: 10. onwards makes you laugh in what they've put
        'about enforceable as well as a 3.43% p/mth before and after court proceedings, if out computer fails we wont be responsible to you
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: Richmond Group - Amigoloans

          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

          Comment

          • #6
            Re: Richmond Group - Amigoloans

            This is a really nasty one isn't it?

            The thing is, if someone was prepared to be a guarantor for you then surely the more sensible thing to do would be for the guarantor to go out and get a loan themselves at a much lower interest rate so the repayments would be less, and then loan the money to their 'amigo'.

            If you're going to be a guarantor you're accepting the fact that you're responsible for the loan, so the person is less likely to default if the amount they are paying is less in the first place.

            You could then very cheaply set up a contract with the borrower which would be a lot less than the interest you would save!
            "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

            The consumer is that sleeping giant.!!


            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

            • #7
              Re: Richmond Group - Amigoloans

              And I wonder how secure the vetting of the guarantor is going to be.

              In a darkly worded way I just wonder how many friends/relatives are going to be dragged into something they didnt know was happening.

              How many signatures are going to appear on documents they have never seen before.

              Another payday loan story to come in the future.

              Least the APR looks reasonable

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