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Amigo on the Brink of Bankruptcy

  • Shares in Amigo Loans sank more than 40 per cent last week after the embattled subprime lender reiterated it will go bust if its new rescue plan and fundraising approach are not approved. Amigo‘s previous rescue plan was rejected last year by London’s High Court for short-changing claimants, so the company increased its compensation pot for those who had been mis-sold loans from £35million to £97million. A further contribution of £15million to the scheme will come from an equity and capital raise. But if the fundraising is not approved by shareholders or the new rescue plan is not approved in court, Amigo said it would become insolvent.

Brian & Julie Johnson

Daniel from ACS made the whole experience of going bankrupt a worry free exercise with him taking on all the tasks that daunted me. I would like to thank him sincerely for his help, support and guidance in dealing with my bankruptcy. As a consequence of his knowledge and experience it meant the the court attendance was stress free and it was certainly made easier by having him there with me.

Rod Eastell

I don’t know NOW why we were so worried about our debts. ACS took all our troubles and worries away. From speaking to Daniel for the first time he was very understanding and put our minds to rest, the service is absolutely everything they promise, in fact it is better than promised. It delivered and swiftly brought everything to a conclusion. We would certainly recommend ACS to anyone with debt problems, DON’T WORRY GET IN TOUCH WITH ACS. they will take care of everything. We can’t thank them enough.

E. Davies

Exceptional service! Since my first phone call some months ago requesting help and advice I immediately felt that cloud over me disappearing. When getting closer to my court date with companies chasing more and more, the professional service I received kept the phone calls and letters away. My day in court was basically short and sweet, just 45 minutes. Immaculate documentation was handed over and the clerk could not stop smiling with how easy it had made her job to check the form over prior to handing over to a judge to sign off (who did within minutes). Already had my telephone interview from the official receiver and as documentation was so clear and precise it took little over 10 minutes (normally around 30) to complete.