What is the required status code for an account to be eligible for referral?

The required status code for an account to be eligible for referral is an eligible reason status code. This means that specific status codes are designated as valid indicators that an account meets the necessary criteria to be referred for further action or management. Eligible reason status codes often signify that an account has met particular conditions, such as being overdue for payment or requiring intervention due to outstanding debts.

By ensuring that the account has this specific code, it streamlines the process of identifying which accounts warrant attention and action from the debt management team. The use of designated codes helps maintain an organized system of tracking debt and ensures compliance with internal processes and guidelines, making it easier to manage accounts effectively. Understanding the importance of eligible reason status codes is crucial for anyone involved in debt management, as it directly impacts the referral process and overall account handling.