You won’t need to vote on the Scheme proposals or submit the same claim in the Scheme if you have made a complaint and received a letter from Amigo detailing an amount of redress compensation, your complaint will be dealt with outside of the Scheme process, and.
When you yourself have made a grievance however received a page from Amigo detailing a quantity of redress settlement, your issue shall be handled beneath the Scheme in the event that proposals are authorized by clients together with Court.
Could I still produce a claim and acquire redress if I didn’t vote?
Yes, all clients (apart from excluded creditors) are going to be eligible to claim redress in the event that Scheme proposals are authorized by clients while the Court. Nonetheless, your capability in order to make a claim for money will be increased in the event that you vote ‘for’ the Scheme. You are allowing others to make the decision on your behalf if you choose not to vote.
What’s the impact on a guarantor beneath the Scheme in which a debtor includes a valid redress claim?
A guarantee will not be enforced, and the guarantor will not be required to make any future payments under the Scheme, where a borrower has a valid redress claim. Here is the instance also where in actuality the guarantor hasn’t made any past repayments on a loan or presented a claim within the Scheme.
So how exactly does tripped work?