Use the Update Loan Status to set a loan to charge-off status. In the future, this will support other scenarios like bankruptcy.
Note: For optional parameters, do not pass an empty string or null value.
The table below lists status codes that apply to this specific endpoint.
See Global Response Statuses for status codes that are common across endpoints.
|Status Code||Code Description|
|1205-01||The loanId is invalid or does not exist|
|1205-02||The subProductId is invalid or does not exist|
|1205-03||This loan is closed. Transaction is not allowed.|
|1205-04||The loan status reason code value is invalid|