How does the Zopa Safeguard work?

Zopa has an experienced loans team who closely monitor missed repayments and make sure that if a borrower misses a repayment they make it up quickly.

In the rare event that a borrower gets into financial difficulty and can’t keep up with their repayments, to the point where they are behind on their loan by at least four months’ worth of repayments,
P2PS (the Trustee) would take ownership of the loan from you. In return it will give you the money you are owed (the remainder of the money you lent them, plus any interest due on it up to that point in time): this comes from the Zopa Safeguard. You are then able to lend it out again or withdraw it to your personal bank account, meaning you can lend knowing your money is safe at Zopa.

Last Updated: 14 January 2014, 12:01pm
seconds ago
a minute ago
minutes ago
an hour ago
hours ago
a day ago
days ago
Invalid characters found