If you’re concerned about the impact of Coronavirus on your Zopa loan, the important first step is to get in touch with us if you think you won’t be able to make your full monthly repayment. 

The best way is to fill in this simple online form to let us know your current circumstances so that we can put in place what you think is an affordable repayment towards your loan. We recommend using a budget tracker to help work out an affordable monthly amount, especially if your income or outgoings have changed recently. We recommend using the template provided by impartial debt charity StepChange to do this.  

Often, for a short time, a reduced payment plan is the best solution as you will continue to pay off the balance of your loan and stop your account arrears growing. Once your situation returns back to normal, we’ll work with you to put in place a plan to help you catch up on any outstanding amount. 

If your ability to pay is affected because of the effects of the Coronavirus on your financial situation, we won’t be reporting payment reduction agreements to credit reference agencies (CRAs), including Experian, Equifax and TransUnion, for the duration of your initial agreement. This means that your credit score won’t be impacted during this time.

We always work with our customers on a case-by-case basis to make sure we put in place the right repayment solution for you.  We’ll do all we can to make the process as stress-free as possible and we’ll always let you know what’s happening so you can feel in control.

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