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Post by overthehill on Jun 4, 2020 18:04:12 GMT
This is why I exited Zopa, you end up with reams of loans you can't sell. They are turning over so many loans but they don't have the resources or inclination to deal with late payments and defaults in a timely and decisive manner because of the business model.
Why not adjust the next payment due by 66p instead of waiting for the borrower to do something?
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Post by Deleted on Jun 8, 2020 15:23:07 GMT
It's 66p payable to you, but could be £1000 extra to the borrower, as you only have a fraction of the loan.
Any arrears demonstrates that the loan is higher risk, so it would be unfair to transfer that extra risk to an unsuspecting new lender.
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