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Zopa P2P lender defaulting on unsecured loan
tksnota
Posts: 143 Forumite
I had a Zopa unsecured loan.
I hope you can answer my questions.
- How long does it take for Zopa to default the loan?
- I read being p2p lender it might take a different approach in terms of collecting the debts compared to high street lender. Is this true if so what avenue they might take if they don’t agree with the DMP amount I proposed?
- Did someone manage to revert back the original loan amount when payment arrangements has been agreed after the default?
- what requirements will they need for the payment arrangement?
- do they sell the loans (eg Cabot) or they had their own plus how long did it took for the loan to be sold?
many thanks…
- How long does it take for Zopa to default the loan?
- I read being p2p lender it might take a different approach in terms of collecting the debts compared to high street lender. Is this true if so what avenue they might take if they don’t agree with the DMP amount I proposed?
- Did someone manage to revert back the original loan amount when payment arrangements has been agreed after the default?
- what requirements will they need for the payment arrangement?
- do they sell the loans (eg Cabot) or they had their own plus how long did it took for the loan to be sold?
many thanks…
0
Comments
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Some info on the Zopa debt collection process here -
Zopa's arrears management process explained - Zopa
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I read this link. They mentioned a 3rd party to chase the loan but I checked it via companies house and it is dissolved0
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