From: JoAnn Jansen (JansenJ@cts.db.erau.edu)
Date: Fri Mar 23 2001 - 09:54:15 EST
We have been using TSI since October and the fee is for the letter
series. Basically, it is a pre-collect. We have not had much success
with this and did not sign on for their actual placement for
collection until we monitored the success rate of the letters. We
originally placed 48 accounts with the agency and since you pre-pay
ahead of time we will use until this has been fulfilled. On the
accounts placed in October we have only received 5 payments in 5
months(2 payment in fulls). Our inhouse letter series has a greater
percentage rate at this time.
Hope this helps,
JoAnn Jansen
Assistant Bursar
______________________________ Reply Separator
_________________________________
Subject: RE:
Author: "Boord; Peggy" <pboord@ju.edu> at Internet-Mail
Date: 3/23/01 8:23 AM
Cheryl:
I use TSI at Jacksonville University. The fee you are quoting sounds like
the fee for their letter series, not for their actual account placements.
If you do find that this fee is for actual placement for collection, I would
be interested in knowing that.
As for our experience with TSI. I have been very pleased with working with
them. We use their letter series for our initial collection process. We
electronically transmit the data to them and they begin the letter series
for us. We were generating three letters to past due accounts and then if
no response, turning them for collection. Our experience was that once the
student received the letter from the collection agency, they responded when
all attempts by the university had failed. The TSI letter "implies" that
they are an agency. There letters are worded very carefully an are on TSI
lettehead. Although we have been using this process for only a short time
and I have no statistics to support it, I do believe we get a quicker
response using this method. We also add the cost of the letter series to
the account and pass that cost on to the student.
Peggy Boord
Controller
-----Original Message-----
From: Neilson, Cheryl
To: bursar-l@virginia.edu
Sent: 3/22/01 12:11 PM
3/22/01
Hi,
I am looking for information on collection agencies - one in particular
that
is offering a little different concept from the contingency fee. We
have
been approached by Transworld Systems Inc., Rohnert Park, California.
Their
rate is a flat $7-$10 per account depending on volume. Has anyone tried
using TSI to collect on their student accounts and if so, what has your
recovery been?
Cheryl Neilson
Student Loan Manager
Business Services
The University of Montana
(406) 243-5594
neilsoncl@mso.umt.edu
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