I'm struggling with my repayments. What should I do?

If you’ve missed a loan repayment or are about to, the best thing you can do is to contact us. There are things we can do to try and get you back on track. For example, we can chat about setting up a payment plan until you’re in a better place. It’s always better to take action early – the sooner you speak to us, the sooner we can minimise the impact on your credit file.

What should I do if my finances are affected by the Coronavirus?

If you’re concerned about the impact of Coronavirus on your Zopa loan, credit card or hire purchase finance, the important first step is to get in touch with us if you think you won’t be able to make your repayment. Our specialist repayments team are really friendly and it’s their job to handle these types of conversations every day. They will look to help in any way they can.

Can I change my repayment amount?

No, this is because your monthly repayment amount was calculated to repay your agreed loan amount over your agreed term. We can’t change this once your loan is up and running. Make extra payments Paying extra towards your loan is simple and we don’t charge a fee. doesn’t incur any fees. Read our guide to making extra payments. Change your repayment date You can also easily change your repayment date if it isn’t working for you. Read our guide to changing your repayment date.

I missed a repayment. What should I do?

Life happens. Sometimes we forget things, or our finances don’t run as planned. If you miss a payment by mistake, you can pay online anytime by Direct Debit or a Debit Card. Just sign into your Zopa account and follow the instructions on screen. You can also call us and pay by Direct Debit or Debit Card. If you missed a repayment because you're struggling to keep up, the most important thing is to talk to us. We can help you get back on track.

Why are you re-starting credit reference reporting during the Coronavirus pandemic?

Important: This situation is fast-changing and we’re regularly reviewing our approach. The information below is based on the current guidance from the Financial Conduct Authority. If anything changes and your Coronavirus arrangement is affected, we’ll be in touch to update you and to let you know what it means for you. We really feel for anyone whose finances remain impacted by the Coronavirus and we’re still here to help. At the start of the Coronavirus outbreak, the Financial Conduct Authority issued guidance that lenders should temporarily stop reporting missed repayments for three months, for anyone on a Coronavirus payment plan or freeze. For customers that needed it, this was then extended by a further three months, so six months in total. As no further guidance has been released from the Financial Conduct Authority, we’re required to start reporting missed repayments again when a customer pays anything less than their full monthly loan repayment – all lenders must do this on a monthly basis. As a responsible lender, we’re following the Financial Conduct Authority’s guidance. Not reporting the change in customers’ circumstances to credit reference agencies would mean our customers’ credit files wouldn’t reflect their current financial situation, and this may result in people taking out more credit that they can’t afford to pay back. We’re passionate about doing the right thing for our customers and their finances, and are constantly reviewing our approach, in line with the Financial Conduct Authority’s guidance. So, if anything changes, we’ll look to review things, to make sure we’re providing the very best support.

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I'm struggling with my repayments. What should I do?
What should I do if my finances are affected by the Coronavirus?
Can I change my repayment amount?
I missed a repayment. What should I do?
Why are you re-starting credit reference reporting during the Coronavirus pandemic?

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