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The operator that is dominant great britain’s guarantor loan market has placed it self on the block.
Amigo lends cash to people who have a credit that is poor, but who is able to provide friends and family being a back-up to guarantee any missed repayments.
The business controls at least 80percent associated with UK market but has faced scrutiny from regulators.
Many complaints are also submitted by individuals who feel they need to not have been provided that loan.
The sub-prime lending sector as a whole has faced a blizzard of complaints from customers whom think these were authorized for loans that they could never ever manage to repay.
It has resulted in the demise of some of the biggest names into the sector, such as for example Wonga.
So what does Amigo do?
Amigo is significantly diffent to payday financing because it calls for more security from borrowers, through the need for a guarantor.