Do Zopa reject IVA's?

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by zac595 » Wed Mar 07, 2018 7:56 am
my major creditor is Zopa, I have been told they reject IVA applications full stop? , is this true plse?.
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by Foggy » Wed Mar 07, 2018 7:59 am
Not something I have heard, but these things do happen. Best of luck.
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Keith White
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by Keith White » Wed Mar 07, 2018 8:28 am
Hi - Zopa do accept IVA's - but seem to demand a higher dividend than many other creditors. They require 50p in £ minimum - which means that the IVA needs to deliver 50p in the £ to all creditors - as all need to be treated equally.
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by size5 » Wed Mar 07, 2018 10:24 am
Many creditors have a public stance when questioned that they review each case on its merits. Zopa, Amigo, Everyday Loans and Link, amongst quite a few others, will all tell you the same. Statistically, they will accept a few here and there, but they reject the vast majority, often for no good reason at all. The bottom line is that they demand a certain return on every case to have a chance of a yes vote, and even then the stats I have do not make good reading for the positive column.

Expect to be asked for at least 50p, as already stated, or a minimum of £350 per month, whichever is the higher return.

Unfortunately, they prefer DMP's or even Bankruptcies to IVA's I'm afraid.

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