Who do Lendable sell their defaulted accounts to?

Billy_Dandy

Lendable have defaulted my two loans. One has the date 12th March, the other the 25th March.

They are both showing on Credit Karma (Transunion). 

Does anybody know to whom Lendable sell the defaulted accounts? Or do they keep them in house?

Thank you.

ManyWays

No idea, why do you care? Have you looked into an affordability complaint as you had two loans at the same time?

Billy_Dandy

ManyWays said:

No idea, why do you care? Have you looked into an affordability complaint as you had two loans at the same time?

I'm curious to know who may contact me to make payments. If Lendable keep accounts 'in house', I could be contacting them to make my payments.
I was actually affording the loans simultaneously until I had some unexpected and expensive bills - one was a funeral. 
The unfortunate thing was that one of the loans ony had five payments left (of a five year loan). 

Sly72

Billy_Dandy said:

Lendable have defaulted my two loans. One has the date 12th March, the other the 25th March.

They are both showing on Credit Karma (Transunion). 

Does anybody know to whom Lendable sell the defaulted accounts? Or do they keep them in house?

Thank you.

Hi mine was sold to ACI - ACI is a specialist debt resolution agency | ACI . Just to note they comminated to me via email as they got all that info from Lendable. It started off going into junk folder, I just setup an online account and pay via standing order.

To Note: It took Lendable a full year from default before ACI made contact, also Lendable save a copy of your CCA on your online account so it will be produced if you go down that route.

fatbelly

Defaulted debts just get bundled together in huge quantities and sold to the highest bidder so it could be anyone.

I agree that affordability complaints are the way forward, with the second loan being particularly questionable.

Debt Camel is your go-to resource for this

Billy_Dandy

@Sly72 @fatbelly @ManyWays
Thank you all for your responses. I will have a look at the possibility of an affordability complaint.

Rob5342

Good luck, I've had some good results with affordability complaints. It's pretty standard for lenders to reject your complaint, so escalate it to the FOS if they do.