Types of Agreements
When a customer is approved for credit, the account will either be purchased by UAS or the client will own it and it will be serviced through UAS. The consumer knows no different in terms of how their contract works whether it is serviced or purchased.Purchased (PUR)
A purchased contract means that UAS brokered the sale of the contract to one of many Funding Participants. The client is funded within 3-5 business days dependent on rescission(if applicable).Serviced (SRV)
A serviced contract is owned by the client. We receive payments from the consumers and then disperse them back to you once received.What’s the difference for a customer if they have a SRV v PUR loan?
The consumer knows no difference in terms of how their contract works whether it is serviced or purchased.Features of SRV & PUR Accounts
*Read the Hardship article for further inforomation on how a contract may qualify