Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Guarantor loans provider Amigo said while it had continued increased levels of arrears as customers exited Covid-19 payment holidays, overall collections had been 'robust' since the end of the year and remain 'encouraging'.
'Combined with effective cost management, this has given the Company a current unrestricted cash position of £229 million,' it added.
The current annual overhead costs are approximately £25 million.
On 28 September 2021, Amigo submitted a revised scheme proposal, incorporating feedback from the Independent Customers' Committee, along with its future business plan to the FCA and the ICC.