Debt Policy Working Instructions 2014 - 2015 1) Summary Please use the Debt Policy for the framework and agreed working principles between the Students’ Union, Finance and Accommodation Services. The following document will outline the working practises to be undertaken by Accommodation Services. 2) Accommodation Debt Management Procedures If any student falls into arrears with any fees or charges, the University will take the following steps to recover the debt. Instalment One – Due date 3rd November 2014 Day 0 3rd November 2014 Instalment One due date 3rd November 2014 Invoices due to be paid and direct debits will be posted. Day 1 4th Nov 2014 Finance to send first reminder giving 7 days to make payment. Any rejected direct debit will be represented on the 10th November 2014 Day 8 – 11th Nov 2014 Finance to send second reminder email stating they have until day 15 to pay Day 1-15 3rd -18th Nov 2014 Accommodation Services and SU to undertake interviews at students request regarding financial circumstances. Eg loan delayed or if a student requires a repayment plan to be set up to start repaying debt either Finance or Accommodation Service will set this up with the student. Notes regarding interviews or repayment plans are to be made on the students KX and Financial account. Finance will make telephone calls to debtors to chase payments and identify and reasons for delay in payments. Day 15 18th Nov 2014 Finance to send third reminder email to state that if no payment plans have been set up and or students have not made contact with either SU, Finance or Accommodation Services the debt will be referred to STA on the 2nd instalment due date and the £200 referral charge will be raised against the students account as at 12th January 2015 Instalment Two – Due date 12th January 2015 Day 0 12th January 2015 Invoices due to be paid and direct debits will be posted. Instalment One and two debt recovery Day 1 13th January 2015 Accommodation Services will compile a list of all students that have an outstanding debt as at 13th January 2015 for instalment one, two and any semester one debt. Where students have not paid instalment one the £200 STA charge will be raised against the student account and the paperwork will be collated for the debt of instalment one and two (if not paid) to be referred to STA. Instalment two only debt recovery Day 1 13th January 2015 Instalment two debt only Finance to send the first reminder letter to students that have defaulted on instalment two payment giving 7 days to make payment Any rejected direct debit will be represented on the 19th January 2015 Day 8 – 20th January 2015 Instalment two debt only Finance to send second email stating they have until day 15 to pay Day 1-15 13th January – 27th January 2015 Instalment two debt only Accommodation Services and SU to undertake interviews at students request regarding financial circumstances. Eg loan delayed or if a student requires a repayment plan to be set up to start repaying debt either Finance or Accommodation Service will set this up with the student. Notes regarding interviews or repayment plans are to be made on the students KX and Financial account. Finance will make telephone calls to debtors to chase payments and identify and reasons for delay in payments. Day 15-18 27th January 30th January 2015 Instalment two debt only Finance to send out third reminder email to state that if no payment plans have been set up, students have not made contact with either SU or Accommodation Services the debt will be referred to STA on the 3rd instalment due date (20th April 2015) and the £200 referral charge will be raised against the students account at 20th April 2015 Note: if student has not paid instalment one and two only one £200 will be allocated against the account Instalment Three – Due date 20th April 2015 Day 0 20th April 2015 Finance will process any direct debits or payments on the due date Instalment two and three debt recovery Day 1 21st April 2015 Accommodation Services will compile a list of all students that have an outstanding debt as at 21st April 2015 for instalment two, three and any semester two debts Where students have not paid instalment two the £200 STA charge will be raised against the student account and the paperwork will be collated for the debt of instalment two and three (if not paid instalment three) to be referred to STA. Instalment three only debt recovery Day 1 21st April 2015 instalment three debt only Finance to send the first reminder letter to students that have defaulted on instalment three payment giving 7 days to make payment Any rejected direct debit will be represented on the 27th April 2015 Day 8 – 28th April 2015 instalment three debt only Finance to send second email stating they have 15 days to pay Day 1-15 21st April - 4th May 2015 instalment three debt only Accommodation Services and SU to undertake interviews at students request regarding financial circumstances. Eg loan delayed or if a student requires a repayment plan to be set up to start repaying debt either Finance or Accommodation Service will set this up with the student. Notes regarding interviews or repayment plans are to be made on the students KX and Financial account. Finance will make telephone calls to debtors to chase payments and identify and reasons for delay in payments. Day 15 4th May 2015 instalment three debt only Finance to send a debtors list as at 15th May 2015, all debtors’ paperwork to be collated and £200 charge to be raised to the student account. Day 22 – 11th May 2015 instalment three debt only Finance to send debtors information over to STA Note: if a student has not paid instalment one, two and three only one £200 will be allocated against the account. If a student has not paid instalment one, paid instalment two and not paid instalment three the debt from instalment three will be added to the STA debt for instalment one. 3) Cancellation Charges 3.1 If the student accepts a place within the University Accommodation, but then the University of Wolverhampton decide not to offer the student a place on a course or the students Visa is refused , the whole rent prepayment of £300.00 will be returned. Accommodation Services will only refund the prepayment upon written confirmation from the University Admissions Unit that the student has not been offered a place on a course or written confirmation from the immigration authority stating the students Visa has been refused. 3.2 Should the student fail to take up occupation under the terms of the Agreement within 7 days of the commencement date the University will be entitled to retain up to £200 from the £300 rent prepayment. The remainder will be returned and the licence agreement terminated. 3.3 If a student leaves the University during the course of their Licence Agreement they will be invoiced up to a £200 Cancellation Charge. The student is also liable to pay rent up until the actual date of departure from the residence and return of key. 3.4 3.4.1 Should the student cancel her/his Licence Agreement; Prior to the release of the A-Level results, a £50.00 charge will be retained from the £300.00 rent prepayment On or after the A-Level results are released, but prior to the commencement of the Accommodation Licence Agreement, a £100.00 charge will be retained from the £300.00 rent prepayment. 3.4.2 4) Financial Support Contacts Making contact with Finance Finance staff can be contacted by various means. E: vision helpdesk E-mail: [email protected] Telephone: 01902 321256 Appointments can also be made to meet Finance staff to discuss any fee related issue. Making contact with Accommodation Services Accommodation staff can be contacted by various means. E: vision help desk E-mail: [email protected] Telephone: 01902 321282 Appointments can also be made to meet Accommodation Services staff to discuss any accommodation fee related issues. Making contact with the Student Financial Support Team The Student Financial Support Team will provide information on a number of finance-related issues; they can be contacted by various means E-mail: [email protected] Telephone: 01902 321070 All student financial support queries with be dealt with from the Student Centre North (opposite the Cashiers Office within the MX Building.) The Student Financial Support Team will be the single point of contact for all current students with any financial enquiries or support. Making contact with Students’ Union The Students’ Union Advice and Support Centre offers confidential and impartial advice in relation to money and debt advice. They can be contacted by various means; E-mail: [email protected] Telephone: 01902 322038 Appointments can be made with advisers at the Students’ Union Advice and Support Centre to discuss any issues. Appendix One Interview template Referral STA: £200 Payment Plan: Yes No STA Reference: ……………. Date Sent: …………………… Student Debt Interviews Student Name Student No. Campus Officer Interviewing Date of Interview City – Walsall – Telford Block – Room Email Telephone Invoice Number Invoice Amount Due Payment Date Overview of student circumstances: Financial Agreements – outcome of the meeting: CLM/ JP/ JJW/ BW SEJ/ AM/ JEK/ JK/ YF Payment Plan Agreement: Please state amounts to be paid and agreed dates Date Due Amount Receipt Date Paid Student Signature Interviewing officer signature Date Date Comments Appendix Two Day 15 Automated 3rd reminder letter to be sent from Finance Date Student Name Student Address Student Address Student Number: Invoice Number: Dear Student, The University of Wolverhampton have contacted you on two separate occasions regarding your failure to pay your accommodation invoice. The automated reminder letters have informed you where you can seek help and support regarding your debt and the timescales that need to be adhered to. If you have not cleared your account as per the University accommodation debt policy, your invoice/s will be referred to an external debt collection agency and a default charge of £200 will be added to your student account. It is imperative that you arrange to either clear your debt or arrange a payment plan with Accommodation Services or the Finance Department to prevent any further charges being incurred. Yours sincerely Clare Magson Customer Services Manager Accommodation Services
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