Debt Hold System Policy - Northern Michigan University
Debt Hold System Policy
To establish guidance for limiting services from individuals with past due accounts.
All Faculty, Staff, and Students
Accounts written off will be transferred to a Debt Hold System. The debt hold system is used to place a "hold" on the student's records. The system prevents individuals owing money to the University from re-enrolling or obtaining transcripts, diplomas and other services.
The system will maintain pertinent information on the written off account. A file for each account supporting the University's claim for the unpaid balance will be assembled and maintained as part of the system. These debts are maintained on file as long as practical.
The University’s Financial Services will periodically review all accounts being worked by collection agencies. Each collection agency may be requested to provide the University with an annual report of progress on accounts being worked.
|Oversight Unit:||CONTROLLERS OFFICE|