Lender stopped taking payments - not sure what to do.

[flickeringflamer]

Hi,
I have a credit account with a company called Elfin Market It's a peer to peer lender and I owe them about £1500. I have always paid via direct debit with no issues. I have discovered that they have taken no payments at all for 4 months. I have looked on the app and it says something like "direct debit amount £0" - all very strange

I havent' received any communication from them - no messages, calls emails etc not a word. Surely they would have contacted me if I was missing payments?? Are they not required to send out documentation for missed payments etc?

My worry is that they will suddenly ask for all of the missed payments back in one go - would they be allowed to do this considering that I have heard nothing from them??

It would be wise to contact them OP. Are you sure you were paying them by DD and not by Standing Order for a number of months? The SO instruction may have ended.

Definitely direct debit. Surely they are supposed to contact customers if a payment has been missed, regardless of who's fault it is??

Have you checked your credit score? Clear score list your lenders.

You need to get in touch with them.

Contact them and see what's going on. There's no benefit in burying your head in the sand.

Yes it doesn't look as though they have logged anything adverse. I have also found out that lenders are required to send you a notice of default after repeated missed payments and that this has to be sent out on a letter posted to the customers registered address - I have received absolutely nothing. No letters, emails, calls.

I have also noticed that they have not really posted much on their website of social media platforms from around the time that my payments stopped, whereas before they were always posting, I am wondering if they are in trouble and that it why the payments are messed up??

I have - I have emailed them and they have acknowledged my email - just waiting for a response.