aju
Member of DD Central
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Post by aju on Dec 8, 2018 12:10:31 GMT
Are you looking at alltime or current data. Zopa sold a load of defaults off recently that will not appear in current anymore as they are marked "settled".
You may have a recovery uplift in statements but that all you will get on those loans. For the value appear in my statement on 29th Nov.
Just a thought.
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ding
Member of DD Central
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Post by ding on Dec 22, 2018 10:48:22 GMT
Are you looking at alltime or current data. Zopa sold a load of defaults off recently that will not appear in current anymore as they are marked "settled". You may have a recovery uplift in statements but that all you will get on those loans. For the value appear in my statement on 29th Nov. Just a thought.
I just discovered this myself and came back to post, and saw your reply. My earning had been sitting close to £100 for some time, then went to around £106, then back down under £100. So I started doing some digging.
Wrote this email to zopa:
You leant £19.5k to an A* borrower who has paid £0 back. You have defaulted then settled. It seems you have settled for 0% payback, but that doesn’t meet your criteria below: blog.zopa.com/2016/05/04/service-update-the-settled-state/“On rare occasions, borrowers cannot repay the full amount of their debt. Settled will be applied when a borrower is unable to repay in full, but, can repay a certain percentage of their debt with a lump sum on a loan marked as defaulted. Zopa will only accept these terms and apply the Settled state after a thorough assessment of the borrower’s circumstances. If all criteria are met, we will accept the one-off payment and write off the remainder of the bad debt.” Can you please explain how you let this person off so easily on a very expensive car!
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pip
Posts: 542
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Post by pip on Dec 22, 2018 10:59:27 GMT
Are you looking at alltime or current data. Zopa sold a load of defaults off recently that will not appear in current anymore as they are marked "settled". You may have a recovery uplift in statements but that all you will get on those loans. For the value appear in my statement on 29th Nov. Just a thought.
I just discovered this myself and came back to post, and saw your reply. My earning had been sitting close to £100 for some time, then went to around £106, then back down under £100. So I started doing some digging.
Wrote this email to zopa:
You leant £19.5k to an A* borrower who has paid £0 back. You have defaulted then settled. It seems you have settled for 0% payback, but that doesn’t meet your criteria below: blog.zopa.com/2016/05/04/service-update-the-settled-state/“On rare occasions, borrowers cannot repay the full amount of their debt. Settled will be applied when a borrower is unable to repay in full, but, can repay a certain percentage of their debt with a lump sum on a loan marked as defaulted. Zopa will only accept these terms and apply the Settled state after a thorough assessment of the borrower’s circumstances. If all criteria are met, we will accept the one-off payment and write off the remainder of the bad debt.” Can you please explain how you let this person off so easily on a very expensive car! You would need to know the circumstances. Can think of some where there could be a 100% default but they decide to settle: 1) The debtor is dead or bankrupt with no assets 2) The application was fraudulent using another persons identity and the named borrower has no liability for the loan 3) Zopa decides that it will not pursue the debts due to circumstances of borrowers and FCA regulations on chasing debtors. Debtors with terminal illnesses, in prison etc. are pretty much impossible to enforce in the UK.
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