Re: FW: settlement vs. payment in full

From: Hunt Compton (hcompto@linfield.edu)
Date: Fri Jan 03 2003 - 11:57:17 EST

  • Next message: Philomena Wilson: "Fwd: Re: FW: settlement vs. payment in full"

    Suzanne:

    When we opt to settle for a lesser amount, or, quote a payoff in writing
    lesser than the actual payoff, we feel obligated to stick with the
    settlement/payoff amount. It?s the ethical thing to do.

    We try to mark our records accordingly so that in these cases we will not
    withhold a transcript or deny future enrollment.

    In cases where prior payment history (negative) is evident, we have
    required payment in advance or other satisfactory requirements be met
    simply because of past history. It?s the business thing to do.

    Hunt

    --On Friday, January 3, 2003 8:57 AM -0500 "Dominick, Suzanne"
    <dominick@setonhill.edu> wrote:

    > One other thing that I forgot to mention - can we require the student to
    > pay the difference between the settlement that we accepted, and the
    > actual balance that was due? (In addition to paying up front for the new
    > balance that would be due for the current semester.)
    >
    > > -----Original Message-----
    > > From: Dominick, Suzanne
    > > Sent: Friday, January 03, 2003 8:46 AM
    > > To: Bursar C/O Nacubo (E-mail)
    > > Subject: settlement vs. payment in full
    > >
    > > We have had some students in collection offer a settlement to the
    > agency, vs. a payment in full. From what I understand, once we accept
    > the settlement in full, we have to remove all "holds" and we cannot
    > withhold transcripts or diplomas. >
    > > However, does anyone know whether or not we are obligated to accept a
    > student back if he or she wants to re-enroll? Some suggestions have been
    > to let the student re-enroll if and only if the student pays the entire
    > balance in full up front, since we would consider the student a "high
    > financial risk". But is this legal? >
    > > Any information or input would be appreciated. Thanks.
    > >
    > > Suzanne Dominick
    > > Accounts Receivable Supervisor
    > > Seton Hill University
    > > Greensburg, PA 15601
    > > dominick@setonhill.edu
    > > Ph: 724-830-4635 Fax: 724-830-1292
    > >

    Hunt M. Compton Phone 503-883-2455
    Staff Accountant Fax 503-883-2630
    Linfield College email hcompto@linfield.edu
    900 SE Baker WWW: http://www.linfield.edu/accounting/index.html
    McMinnville, OR 97128

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