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Updated: Coronavirus and your finances

This blog was updated on 17th September 2020.

Update: We’re still here if you need us

We understand that many of our customers’ finances are still impacted by the Coronavirus and, if you’re in that position, we’re here to support you. There are several options available, and we’ll work with you to find the most suitable for your individual situation. 

If you’re currently on a payment plan or freeze for your Zopa loan or hire purchase finance, we’ll be in touch before it ends to agree together what happens next. If you want to get ahead, you can always work through our budget tracker, to help you to understand your current situation in detail. Visit budget.zopa.com 

If you have a Zopa credit card and your finances are impacted by the Coronavirus, you can also apply for a payment freeze or holiday until 31 October 2020. Please call our repayments team on 020 3196 0091. We’re open Monday to Thursday 9am-5:30pm and Friday 9am-5pm. 

Rest assured, if your finances aren’t impacted by the Coronavirus now, but you’re worried that they might be in the future, we’ll still be here to help. We always explore ways to support our customers when their circumstances change – we have a dedicated team for this. You just need to give us a call.

Coronavirus and your finances

We’re living through troubling and uncertain times, and we know that lots of you are concerned about the impact of Coronavirus on your finances.

This might be because:

  • you or someone you care for is sick
  • you need to self-isolate
  • you work in a sector that has been or is likely to be hit by the economic disruption caused by the virus.

We’re here to help. Here’s some information for Zopa customers:

Our services are up and running and you can access your loan, credit card or hire purchase finance as usual via our app or website.

All our teams are now working remotely, even so, we’re very much still open. The health and wellbeing of our staff is a priority, to make sure they can continue to serve you, our customers, through this uncertain period.

Think you’ll miss a repayment?

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.


For loans and hire purchase finance, fill in this simple online form to let us know your current circumstances and we’ll get back to you as soon as possible.

For credit cards, please call our repayments team on 020 3196 0091. We’re open Monday to Thursday 9am-5:30pm and Friday 9am-5pm. 

There are several options to get you back on track, for example, we can freeze or reduce your repayments for a while, to give you some breathing space until your income returns to normal. 

For some customers, a payment freeze might not be the best option. This is because the missed payments start to build-up and you’ll need to be able to pay them in the future. Often, for a short time, a reduced payment plan is the better solution, as you’ll continue to pay off the balance of your loan or hire purchase finance or credit card and minimise your account arrears growing. What’s more, if you have a credit card with us, we’ll continue to charge interest on your balance as usual during your payment freeze.

If your finances have been affected by the Coronavirus, we won’t be reporting payment freezes or payment reduction arrangement to credit reference agencies (CRAs), like Experian and Equifax, for the duration of your initial arrangement. This means that your credit score won’t be impacted during this time. However, it’s important to know that, if you are seeking credit in the future, this isn’t the only consideration lenders look at when they determine whether to lend to you. Once your chosen option has ended, we will resume credit reporting.

Whichever option is right for you, we’ll do all we can to make the process as stress-free as possible and we’ll always let you know what’s happening so you can feel in control.

Helpful resources

We work closely with the following debt charities to make sure that our customers have access to good impartial debt advice and support. They offer lots of helpful information if you’re worried about your finances.

National Debtline: Call 0808 808 4000 Monday to Friday 9am-8pm.

StepChange: Call 0800 138 1111, Monday to Friday 8am-8pm or Saturday 8am-4pm.

There is also general advice available here

And helpful advice for small business owners here

Keeping your finances safe

Unfortunately, there have been reports of scams and people trying to take advantage of this situation, so make sure you remain vigilant to keep your finances safe. Check out the FCA‘s latest info on how they’re supporting consumers.

And of course, keep doing all the usual good stuff, like keeping your passwords safe and being on the lookout for scammers – we have a handy blog post on this.

If you need us, we’ll be here

You can contact us through live chat in the Zopa app or through the Support page where you can access our FAQs.

How to get started on the app:

  1. Click the button below to download the app
  2. Enter your My Zopa email and password.   Forgotten your password? Reset it here
  3. Create a secure PIN. You can also use Touch ID or Face ID to log in
Apple App Store Logo inviting people to download
Google Play Store Logo inviting people to download

In our 15 years we’ve seen a lot, including the 2007/8 recession. While this is an unexpected situation for everyone, we believe we have the experience, the tech and the people to adapt quickly and make the changes we need to continue to serve our customers through this uncertain period.

We’ll keep this page updated as the situation evolves. We ask all our customers to keep following government guidance which can be found here.