Outside Collection Services

The Vendor is required to provide professional, compliant, and effective collection services for delinquent student accounts on behalf of college.
- Provide full-service collections for delinquent student accounts, including but not limited to tuition, fees, fines, and other student-related receivables that have aged beyond the college’s internal collection efforts.
- Account placement and management
•    Accept placement of delinquent student accounts as referred by the college, including electronic file transfers in agreed-upon formats. 
•    Acknowledge receipt of account placements and provide confirmation of successful data uploads. 
•    Maintain accurate, up-to-date records of all collection activity. 
•    Segregate college accounts from other client accounts. 
•    The collection agency will provide an adequate explanation of their collection process including how they will escalate collection activities in order to successfully close accounts.
- Collection services
•    Initiate collection efforts promptly upon receipt of accounts.
•    Use multiple collection strategies, which may include, but are not limited to:
o    Written correspondence
o    Telephone outreach
o    Email and text messaging (where permitted by law)
•    Tailor collection approaches based on account age, balance, and debtor circumstances.
•    Offer payment arrangements consistent with college policies, subject to college approval.
•    Suspend or cease collection activity upon college request.
•    Collection agency shall not, under any circumstances, use any threats, intimidation, or harassment in its collection process or violate the fair debt collections practices act or any other federal, state, or local law, rule, regulation, or guidelines established by federal, state or local government.
•    Collection agency is prohibited from undertaking legal action to collect tax liabilities without the express written authorization of the college
•    The college anticipates placing collection accounts with vendor electronically through a secure ftp or other secured means. 
•    The collection agency shall have, or secure, the functionality or processes necessary for the secured transfer of data
- Cessation of collection activities
•    The collection agency shall suspend collection activity either temporarily or permanently on any account referred for collection upon receipt of written notification from the college. 
•    Collection agency shall be entitled to commission only on the portion of the placement for which it has collected funds.
- Fees and remittances
•    Collection agency shall remit all monies collected for the college on at least a monthly basis. 
•    Escrow requirement: all monies collected by collection agency on college collection accounts shall be deposited in a designated state escrow account within one week of receipt. 
•    Monetary amount to be accrued prior to making such deposits, this condition, must be stipulated in the proposal response. 
•    The collection agency shall be required to transmit at least monthly remittances to the college electronically and shall have or secure the functionality and processes necessary to facilitate electronic payment. 
•    The college shall pay contingent fees earned by collection agency after monies collected are deposited by collection agency in the designated escrow account and after collection agency provides the college with as weekly collection activity report and statement for review along with an invoice for earned fees.
- Customer service and student relations
•    Maintain a dedicated customer service function for student inquiries.
•    Provide clear, accurate information regarding account balances and payment options.
•    Resolve disputes promptly and in coordination with the college.
•    Escalate sensitive or complex issues to the college as appropriate.