Collection recalls

From: Michelle McDonough (mmcdonou@bowdoin.edu)
Date: Fri Mar 22 2002 - 09:38:11 EST

  • Next message: Hunt Compton: "Re: Tuition late fees"

    How long do others leave accounts with a collection agency before recalling them,
    if no success is had?

    Thanks,
    Michelle 

    --
Michelle A. McDonough
Bursar
Controller's Office
Bowdoin College
5420 College Station
Brunswick, Maine 04011-8445
USA
Tel:  (+1) 207 725 3249
Fax: (+1) 207 725 3920

    "Stuart B. Warner" wrote:

    > 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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