Get Departmental Collection Procedures - Virginia Commonwealth ... - Vcu

This guide provides detailed instructions on how to effectively fill out the Departmental Collection Procedures form for Virginia Commonwealth University online. It aims to assist users in accurately completing each section of the form, ensuring compliance and efficiency in debt collection procedures.

Follow the steps to complete the form successfully.

1. Click the ‘Get Form’ button to access the form and open it in your preferred document editor.
2. Begin by providing the necessary debtor information. If the debtor is an individual, collect their full name, social security number (voluntary), telephone number, and both their current and permanent addresses. Ensure that the social security number is not a mandatory requirement unless specified by law.
3. If applicable, include details regarding any contracts or promissory notes. These documents should confirm repayment schedules, penalties for late payments, conditions for accelerating the total balance due upon default, and provisions for charging costs related to the collection.
4. Prepare and send the reminder letter within 7 days of a missed payment. Make sure the letter includes the past due amount, the due date for payment, and the contact information for any inquiries.
5. If payment is still not received after a total of 90 days from the initial reminder letter, proceed to refer the account to a collection agency as per the protocols established by the state.
6. Finally, save changes to the document. You may opt to download, print, or share the form as per your departmental requirements.

Complete your departmental collection procedures online today and ensure a smooth debt management process.