Contract Statuses

Published on Aug 19, 2024

2 minute(s) read

Contract Status and Sub Statuses

Active

Sub Status	Definition	Actions
Current	Contract is being serviced	Contact Credit if decline reason needed.
Past Due	If a Minimum Payment is not made on time, the Account will be set to Past Due.	Review Details in uPortal360.

Assignment

Sub Status	Definition	Actions
Credit Review	Completed in 1 Business Day or Less, Review for Purchasing.	Contact Credit Department for more details.
Processing	Completed in 1 Business Day or Less - Assigning Contract.	Contact Credit Department for more details.
Welcome Call	Completed in 1 - 5 Business Days, Reaching out to Consumer for Welcome Call.	Contact Credit Department for more details.

Bulk

Sub Status	Definition	Actions
Bulk - Pending	Contract is ready to be loaded in bulk.	Review Details in uPortal360.

Cancelled

Sub Status	Definition	Actions
	Contract was cancelled.	Review Details in uPortal360.

Closed

Sub Status	Definition	Actions
Various	Attorney Retained, Bankruptcy, Buyback, Canceled, Merchant Cancel, Contract Error, Deceased, Fraud, Paid, Refund, Refusal, Rewrite, Sent to Collection Agency, Skip, Small Balance Write-Off, Transfer Account, Write-Off	Review Details in uPortal360.

External

Sub Status	Definition	Actions
Approved	Applicant was approved.	Contact Credit Department for more details.
Call for Decision	Completed in 1 Business Day or Less, Review for Purchasing.	Contact Credit Department for more details.

Incomplete

Sub Status	Definition	Actions
Credit App	Incomplete Credit Application cannot be completely processed or has not been submitted for processing.	Review Application.
ID Verification	ID still needs to be verified.	Review Details in uPortal360.

Pending - Merchant

Sub Status	Definition	Actions
Charge	Awaiting merchant to add charge to the contract.	Review Details in uPortal360.

Pending - Consumer

Sub Status	Definition	Actions
Autopay	Consumer is in the autopay step during origination.	Setup autopay.
Charge Acceptance	Waiting for charge to be accepted.	Accept charge.
Down Payment	Consumer is in the down payment step during origination.	Make a down payment.
KBA	Knowledge Base Authentication	Authenticate consumer.
Link Provided	Link has been sent to consumer.	Use the link and continue with the origination process.
Payment Option	Consumer is in the payment option step during origination.	Choose a payment option.
Summary	Consumer is in the summary step during origination.	Review charge and sign agreements.
Verify Email	Consumer is in the verify email step during origination.	Verify email using the code sent to the applicant's email.
Verify Phone	Consumer is in the verify phone step during origination.	Verify phone number using the code sent to the applicant's phone number.

Pending

Sub Status	Definition	Actions
Contract Document Creation	A Credit Application has been completed but the agreements have not been created.	Select Term, 1st PMT Date, Cash Price, Down Payment, etc. and Send Contract for Signature.
Credit Review	Manual Credit review in Progress.	Call Credit for status.
Down Payment	Awaiting Down Payment.	Make a down payment on the contract.
Future Note Date	Fully executed contract with a Note Date in the future.	Once Note Date arrives this becomes an Active contract.
GorS Delivery	GorS (Goods or Service) Fully executed contract, but the goods or services have not been delivered.	Merchant will release to Active status once services or goods are delivered - Use Delivery Confirmation to manage entry of Delivery Dates.
Print Verification	Awaiting receipt or review of printed contract to confirm all signatures have been collected.	Fax Signed Contract using DocuSign Cover Letter.
Signatures	Waiting for the Applicant, Co-Applicant or Seller to Sign.	Contact Signer(s), Use Needs Signing Queue to manage agreement.
Waterfall	Waiting to go through waterfall process.	Review Details in uPortal360.

Unknown

Sub Status	Definition	Actions
Processing	Status is unknown but contract is processing.	Review Details in uPortal360.

VOID

Sub Status	Definition	Actions
Declined	Applicant was Declined for Credit.	Contact Credit if decline reason needed.
ID Failure	Failed to identify applicant.	Contact Credit if decline reason needed.
VOID	Removed from System, Never made it past Credit Application or was set to VOID.	N/A

Charge Slip Statuses

Status	Definition	Actions
Incomplete	Started but never sent for Signature.	Use To Do Queue to Manage.
Print Verification	Waiting receipt or review of printed Charge Slip to confirm all signatures have been collected.	Fax Signed Charge Slip using DocuSign Cover Letter.
Pending Delivery	Fully executed Charge Slip, but the goods or services have not been delivered.	Merchant will release to Active status once services or goods are delivered - Use Delivery Confirmation to manage entry of Delivery Dates.
Open	Charge Slip is being serviced.	Review Details in uPortal360.
Paid	Charge Slip has been Paid in Full.	Review Details in uPortal360.
Write-Off	Closed with a Write-Off Reason.	Review Details in uPortal360.
VOID	Removed from System, Never made it past Credit Application or was set to VOID.	N/A