Amigo has until end of October to clear complaints

Amigo has until end of October to clear backlog of complaints it had originally promised to get out of way a week ago

Amigo Loans will have until the end of October to clear a backlog of at least 9,000 complaints that it had originally promised to get out of the way a week ago. 

The troubled lender has agreed a new deadline with the City watchdog to allow it time to deal with customers. 

Worry: The troubled lender has agreed a new deadline with the City watchdog to allow it time to deal with customers

The company said that it has until October 30 to ensure that all complaints are dealt with in eight weeks. The Financial Conduct Authority (FCA) had originally given Amigo until June 26 to work through its backlog, the company revealed in May. 

However, the process has clearly taken a lot more time than first thought, and will be more expensive than the price tag of at least £35m set in June.