Hi, Can Anyone help me with some advice please.
For a few years now I have been saving a small amount each month with Zopa, which then gets lent out to individuals and they pay me back plus interest.
Well recently I had a couple of these individuals fail to pay, and so the debts were written off somehow (Don't ask me how that works, I don't know) And as a result I not only lost my future repayments but lost whatever was left of what they owed me too.
This meant that the interest I had earned was being seriously eroded by the bad debt. And as a result the investment was not performing well.
I decided to withdraw my investment as soon as I could. So I switched off the autolend facility, and took out the "sell my loans to someone else" option so I could withdraw my money. They tell you the money will be ready to be withdrawn in the next few days.
When I next checked, the money had been returned to my account, and then re-lent to other borrowers!
I rang Zopa, who seemed very sympathetic over the phone and asked me to forward some e-mails while they sorted it out, and worked out what had gone wrong.
This was over a month ago, and since then I have had no contact at all, I have e-mailed them several times, they have not replied, I have tried ringing and can never get an answer.
This has gone beyond a joke now. I want my money back and I want compensation for all the messing about I have had to do.
Who should I complain to?
Edited by pfozzy, 22 June 2012 - 22:51.