Zopa has changed it’s debt purchase process due to changes in legislation.

Quote from a message to users:

Changes to legislation mean that, with their current licenses, CRS can no longer purchase a debt in order to pursue it. However, they are still licensed to pursue a borrower on behalf of a third party.

What does this mean?

CRS will continue to act on your behalf when a borrower has fallen into arrears, but is not yet in default. Once a borrower does fall into default, CRS can no longer purchase the loan from you. You will therefore no longer be offered 10% of the amount outstanding for the transfer of right and title in such a loan.

What are we doing about it?

We have created a new and independent company named P2PS Limited. This business is governed independently of Zopa Limited and will be non-profit-making. For some loans that have already fallen into default that CRS have been unable to purchase and for loans falling into default hereafter, you will be asked to assign your title right and interest to P2PS Limited, instead of CRS.
You will not be offered any financial consideration for this assignment, but please see our comments below in relation to sums recovered.

As with the current process, you will still have 28 days within which you can opt out of this should you wish to pursue your part of the debt independently. Once P2PS Limited has been assigned with the right and title to a debt, it will then pursue the borrower for repayment, and a County Court Judgement or Bankruptcy where applicable. Whenever any funds are successfully reclaimed from the borrower, P2PS will apportion funds appropriately to the original lenders of that loan (excluding any that opted out) after deducting P2PS Limited’s costs.

Further discussion on this change can be found here.