Re: Zopa

Do you mean that you get told the names of the people
lending/borrowing each of the 10 pound parcels? Amazing

Yes, their screen names anyway, which in some cases was real names in
others a psuedonym. Some were 10 pound parcels whereas others were
higher, up to £200 I seem to recall.

simply declined to lend based upon 'lending criteria'. I suspect it
was more to do with the fact that I didn't take their credit insurance
therefore they weren't getting any commission.

They take a margin on the funds. They still get something.

I don't doubt it. But I was debating why they declined my application,
after having emailed me a couple of times to tempt me that funds were
on offer at circa 4.6%.

You didn't state in that that they definately had the money.

Errr... sorry but I did! I said: "I sailed through
the online application process and I was even allocated the money and
given the names and locations of people who would be lending to me."

They said that the only thing remaining was credit checks (having
already told me that my score was 502 on their own system). The gist
of my posting was that if I failed the credit checks (with an Equifax
score of 504) then who on earth do they lend to? Then it dawned, is it
probably the people who accept their credit insurance and earn more
commission for Zopa? If you look on Zopa's own blog there's at least
one more person like me who is puzzled why he failed the credit check.

.

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