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Late Fee and Debt Recovery Procedure

Posted
Updated
ByAlexander Mueller

 

Before taking any action

 

Before taking any action regarding late fees or debt recovery, please check the following:

  • Check that the student has completed their course OR that the student is enrolled in an upcoming course with Intelligent Training Solutions.
  • If the student did not attend their class, you have permission to VOID that student’s invoice.

 

NOTE: If you intend to VOID a student invoice, please remember to mark their profile on Wise.Net as ‘Cancelled – No Penalty’ and mark their profile on the Enrolments Server as ‘WNA’

 

Overdue invoices where the course has not yet commenced

 

PLEASE NOTE: Before proceeding, check to ensure that the due date of the invoice is within 14 days from the student’s course commencement date. If the student’s course commencement date is more than 14 days away, please alter the due date of the student’s invoice to reflect a 14-day due date. This excludes CDI and HVDI students.

If the student’s invoice is within 14 days of their course commencement date and has been marked as overdue by Xero, please do not action any type of debt recovery (Letters or a Recovery Agent). Instead, please contact one of the administration team (Ebony/Tracey/Kat) so that they can phone contact the student to confirm that they are still interested in the course and that Intelligent Training Solutions is seeking payment.

 

Invoices that are 4 days overdue

 

Any invoice overdue by four days after the student’s course commencement date will require a phone call to the student and the first of the three recovery letters to be sent via email. Letters are to be sent to the student via the admin (admin@its.edu.au) email address. A text message must also be sent to the student informing them that they have received correspondence from us.

When speaking to the student, be sure to state that they currently have an outstanding invoice and ask the question, ‘when can we expect payment on this invoice’. Don’t forget to remind the student that if the invoice becomes overdue by more than seven (7) days, a $10 late payment fee will be added to the invoice automatically. When emailing this letter, please make sure that you attach the original invoice to the email together with the letter.

If the student does not answer the phone, send the student a text message containing the same message.

DOCUMENT TO BE USED: Use the letter titled ’01 – LETTER – Your account is overdue.’ Letters can be found at (Enrolments\Administration Enrolment Documents\Letters)

FEE TO BE CHARGED: No late payment fees are included in this first stage of debt recovery.

NOTE: Please ensure you update both the student’s folder on the Enrolments Server and the student’s profile on Monday.com with notes on what actions were taken. Copies of the letters must be uploaded to both the student’s folder on the enrolments server and on Monday.com

 

Invoices that are 7 days overdue

 

The following procedure is to be applied to all invoices that are overdue by seven days.

Once an invoice is overdue by seven days, it is time to send the second recovery letter. Letters are to be sent to the student via the admin (admin@its.edu.au) email address. A text message must also be sent to the student informing them that they have received correspondence from us. The letter must be accompanied by a copy of the amended invoice that now includes the late payment fee.

DOCUMENT TO USE: Use the document titled ‘02 – LETTER – Your account is seven days overdue.’ Letters can be found at (Enrolments\Administration Enrolment Documents\Letters)

FEE TO BE CHARGED: Add a $10 late payment fee to the account.

Be sure to copy Ebony (ebony@its.edu.au), Tracey (tracey@its.edu.au), and/or Kat (kat@its.edu.au) in your email to the student. Once sent, please make contact with one of the three team members mentioned above and ask them to print both the letter and invoice, then send the letter and invoice to the student in the mail.

NOTE: Please ensure you update both the student’s folder on the Enrolments Server and the student’s profile on Monday.com with notes on what actions were taken. Copies of the letters must be uploaded to both the student’s folder on the enrolments server and on Monday.com

 

Invoices that are 14 days overdue

 

The following procedure is to be applied to all invoices that are overdue by fourteen days.

Any invoice that is overdue by 14 days will require you to send the third recovery letter. Letters are to be sent to the student via the admin (admin@its.edu.au) email address. In addition, a text message must also be sent to the student informing them that they have received correspondence from us. The letter must be accompanied by a copy of the amended invoice that now includes the amended late payment fee.

DOCUMENT TO BE USED: Titled ‘ 03 – LETTER – Final notice before Recovery Action  – Your account is fourteen days overdue.’ Letters can be found at (Enrolments\Administration Enrolment Documents\Letters)

FEE TO BE CHARGED: Amend the late payment fee from $10 to 15% of the invoice, adding GST to the total invoice.

Be sure to copy Ebony (ebony@its.edu.au), Tracey (tracey@its.edu.au), and/or Kat (kat@its.edu.au) in your email to the student. Once sent, please make contact with one of the three team members mentioned above and ask them to print both the letter and invoice, then send the letter and invoice to the student in the mail.

NOTE: Please ensure you update both the student’s folder on the Enrolments Server and the student’s profile on Monday.com with notes on what actions were taken. Copies of the letters must be uploaded to both the student’s folder on the enrolments server and on Monday.com

 

Invoices that are 30 days overdue

 

Before actioning this procedure, be sure to call the student one last time. Use this opportunity to inform the student that their account is about to be submitted to our Recovery agent for urgent action. In the event the student does not answer their phone, please be sure to send the student a text message informing them of what is about to transpire. Allow 24 hours for the student to respond before proceeding.

NOTE: Our goal here is to encourage the student to enter into a payment agreement. 

If/when the student fails to enter into a payment arrangement for their outstanding amount, the following procedure will apply.

  • All remaining amounts/invoices (outstanding or pending) will need to be consolidated into one amount/invoice. This will invoice changing the due dates of all pending invoices to match the due date of the most outstanding invoice. 
  • Send the details of the debt to be recovered to the Chief Executive Officer or Chief Financial Officer for action.

 

THE FOLLOWING STEPS WILL BE COMPLETED BY THE CEO OR CFO:

  • Open the Recovery Agents online action form link. This link can be found below.
  • Complete the required information and supply the following evidence allowing the Client Services Team to liaise with the student.
    • Copies of outstanding invoices
    • Copies of all reminder letters sent
    • Copy of the student’s enrolment form, PDS, and Terms and Conditions of enrolment.
    • The student’s contact details (Name, Email address, and Contact Numbers) 

 

DEBT SUBMISSION LINK: https://actionform.prushka.com.au/PrushkaActionForm/online_action_form.cfm (Client ID: SM7750)

RECOVERY AGENT DETAILS: Prushka (Recoveriescorp) 

CONTACT: Penny

 

Reasons to STOP recovery action

 

Recovery action can and should be stopped if at any time the student:

  • Makes contact with you and wishes to enter into a payment arrangement (payment plan).
  • Informs you of their proposed date of payment.
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