Debt Collection Services

The Vendor is required to provide debt collection services shall include, but are not limited to the following:
• Promptly undertake, through proper and lawful means, the collection of all accounts, including principal, interest, collection costs, and legal fees, referred by the College without regard to the amount.
oThe College will not be liable for any costs or expenses incurred by the Contractor in collection of accounts outside of the percentage fee collected.
• Adhere to all state and federal regulations that are applicable to collection firms.
• Assist the College in all aspects relating to collection of delinquent tuition accounts and other College receivables.
• Utilize best practices to achieve maximum recovery of accounts referred for collection.
Best practices shall include, but are not limited to, telephone calls, mail efforts, calls to references, and use of national credit bureau reports in skip tracing procedures.
• Provide the College with monthly reports that include collections, adjustments, and corrections.
• Abolish Contractor fee(s) if funds are collected through the Public Employee Lien, National Guard/Reserves or GI Bill Repayment Programs, etc.
• Abolish Contractor fee(s) when an account(s) is reduced, withdrawn, or canceled by the College.
oNo collection fee(s) will be due to the Contractor for the amount of reduction, deferment, or cancellations based upon verbal or written notification from the College.
oii. A detailed itemization of all reduction, deferment, or cancellation activities, in compliance with the due diligence requirements, shall be provided to the College at no additional fee(s).
• Secure written consent of the College before accepting a compromise settlement for any/all accounts.
• Suspend action on any account upon receipt of notification of bankruptcy, returning all information to the College without penalty or cost to the College. This includes accounts where legal action may have been taken.
• Review the Student Enrollment Responsibility Agreement (SERA) and meets its legal requirements for collections.
• In the event legal proceedings are undertaken by the Contractor, copies of summons, complaints, and of any judgment shall be provided to the College within fifteen (15) days of the service and/or judgment.

- Contract Period/Term: 2 years