Return Transactions
If an Account is need of a Full or Partial adjustment of the principal balance, Merchants may submit a transaction to adjust the balance in uPortal360 using the Returns button. Returns can be used if the Account needs to be cancelled or closed or if a simple adjustment is needed to reduce the consumer’s balance.
When to use Returns
Support Tickets - If the determined outcome to resolve a consumer’s Support Ticket request is to adjust the principal balance or close the contract, the Returns function should be utilized to complete the desired outcome.
Client Request - If a request is being made to adjust the principal balance or close the Account and no Cases or Support Tickets are outstanding, simply use the Returns button to submit the requested adjustment and a Support Ticket will automatically be created. There is no need to submit separate request in conjunction of the Return request submitted.
To Know Before You Start
The new monthly payment cannot exceed the current monthly payment.
Interest rate will not change.
Any applicable repurchases are automatically calculated by the system.
No signature required
Step 1: Login to uPortal
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Returns Permission 🚦
If Returns does not appear as an available feature, please reach out to a member of your organizations management team or clientsuccess@ugafinance.com
User Management
Users with the User Management Permission may assign the permission within uPortal360 by utilizing the Manage Users function.
Manage Users > View (user name) > Permissions > Returns
Step 2: Adjustment Options
Option A: Decrease by Term Length
Modify the Term Length of the contract.
Example- Original Term 36 Months: | Insert the new desired Term (e/g 24 months) |
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The amount will automatically be adjusted and will reflec in the Payment calculator |
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Option B: Decrease by Amount
Example- | |
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Step 3: Finalize the Return
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Payment Calculator
Under Return Type a payment calculator will calculate and display the new Monthly Payment, Interest Paid, Principal Pay, and Total Payment after the return.
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Unrelated or No Support Ticket 🛟
If the Open Support Ticket is unrelated or there is not a current Open Support Ticket, one will be created upon submission.
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Return Audit Review 🔍
In certain circumstances, the return may need to be reviewed and moved to completion by a member of our Business Administration Team. Once the return has been moved to complete, the related support ticket will be closed accordingly.
The balance will update for the consumer instantly, confirming that the return has been processed. The change will appear on their Account Summary and in their Transactions tab.
If additional assistance is needed, please contact the Client Success Team
📧 clientsuccess@ugafinance.com