Re: charge off policy

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We write off charges after 2 years of no payments. These accounts still
remain on hold, were reported to credit bureaus, and stay with a
collection agency. Larger balances, over $2000, go to an attorney for
judgement. Even when they are returned from the agency, the accounts
remain on transcript and diploma hold forever, until paid.

"by way of Lloyd Dollins " wrote:
>
> I'm interested in charge off policies for tuition accounts. At what point do
> schools write off tuition receivables to bad debt. Most I have spoken with
> do not have a formal policy.
>
> * If your institution has a policy, what is it?
> * If you do not have a formal policy, do you have general rule of
> thumb?
>
> Susan
>
> Susan Burns, Bursar
> Saint Michael's College
> SMC Box 2 - One Winooski Park
> Colchester, VT 05439
> (802) 654-2335
> sburns@smcvt.edu

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