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Zopa Loan advice...

Dan2385

Dan2385 Posts: 2 Newbie

31 December 2018 at 3:56AM in Loans

Hi everyone I’m new here,

We have a loan with Zopa but last year we had to reduce our monthly payments with them due to some financial difficulties and came to an agreement.

Now, we are in a position to resume the normal monthly payments and have seen they have sold the loan to Cabot.

Can they do this as her credit history shows they took over in November with no notification to us of doing so.

Any advice would be great, thanks.

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Comments

[Deleted User] Posts: 35,242 Forumite

31 December 2018 at 8:50AM

Yes, they can sell debts at any time.

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DCFC79 Posts: 40,619 Forumite

31 December 2018 at 9:31AM

Nothing wrong with what they have done.

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Dan2385 Posts: 2 Newbie

31 December 2018 at 10:30AM

Even if we have a letter from them agreeing to accept these payments for 6 months and then to review again after?

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boo_star Posts: 3,202 Forumite

31 December 2018 at 10:32AM

Dan2385 wrote: »

Even if we have a letter from them agreeing to accept these payments for 6 months and then to review again after?

As long as Cabot stick to the agreement, yes.

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[Deleted User] Posts: 35,242 Forumite

31 December 2018 at 10:32AM

Absolutely. No one is forced to continue owning a debt, should they choose to sell it. Terms will transfer to the new owner.

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