Collection Agency Services

The vendor is required to provide to qualified accounts receivable management firms to submit a proposal for collection agency services.
1. Organizational structure
• Provide the name, address, and telephone number of your office
• List any states your firm is not licensed and/or bonded in.
• Organizational chart identifying all the personnel that would be assigned responsibilities under this contract.
• Include responsibilities of all key personnel.
• Provide the gross educational volume, along with the gross percentage recovery for your firm over the past three (3) years.
2. Security
• The procedures your firm has in place in the event of a disaster.
• The procedures in place to prevent data breach.
• The overall security of the system and all relevant certificates or other credentials that would help us assess the protection of the sensitive data that is being processed
• The system protects credit card and other sensitive information both at rest and in transit.
• Describe your firm’s training programs, specifically concerning federal and state regulations, (ferpa) including updates and changes.
• List any certification programs used for your firm’s collectors.
• A description of your firm’s security systems and procedures, the availability and ease of access to on-line vendor files by the appropriate college staff.
3. Technical capabilities
• Systems in place to allow automated placement, remittance, and return of accounts between your firm and grand rapids community college, including secure data transmission, “upload” and “download” capabilities
• Procedures for ensuring accurate collection, monitoring of accounts, and reporting activity under this contract.
• Include examples of reports used with an explanation of each, including the frequency and method of distribution.
• A description of your firm’s quality control procedures
• Include if your firm records any conversations with students
• Include mailings, telephone calls, skip tracing, schedule of communications, etc.
• Include examples of notices, letters, and telephone scripts relevant to the performance of this contract.
• The procedures for referring student accounts for litigation, and the criteria used in determining the appropriateness of litigation.
• The procedures for handling accounts where the student is deceased, bankrupt, or incarcerated; the account is determined uncollectible; or the student has disputed the account.
• Payment methods available to students, including autopay and any fees associated with these methods.
• Requirements of payments made directly to the college
• The length of time accounts is retained.
• List the circumstances for closing accounts
• Describe your association with credit bureaus
• Describe, if any, pre-collection letters available.
• The funds transfer process between your firm and grand rapids community college including the timeliness of the fund transfers
4. Rates and fees
• First placement tuition accounts
• Second placement tuition accounts
• Litigation for tuition accounts
d. Other
5. Attachments
• Provide copies of monthly billing and remittance statements
• Provide copies of other relevant reports.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: March 13, 2025