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Zopa

Hi

My loan with Zopa has now defaulted and I was about to commence monthly payments, but I noticed yesterday that the debt had been sold to a collection agency without warning. I submitted a CCA request to Zopa some time ago, but received a letter back to say that someone would be in contact, but heard nothing further. Should I now commence payments to the collection agency or is it worth submitting a CCA request first? My long term plan is to do a self managed DMP

Many thanks 

Comments

  • sourcrates
    sourcrates Posts: 31,364 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 17 August 2024 at 5:31PM
    That is a contradiction in terms.

    You can`t sell a debt to a collection agency, debts are sold to debt purchasing companies, who may then engage a collection company to collect the debt on their behalf.

    However debts can be assigned to collection companies, but only equitably, big difference as only a debts owner can take legal action to recover it, how do you know its been sold?

    What does the letter say, do they refer to "our client" at all?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • ManyWays
    ManyWays Posts: 1,221 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    How old is this Zopa loan? there is normally little point in asking a lender to produce the CCA unless the account is very old. 
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