Write-Off Collection Accounts
²ÊÃñ±¦µä accounts, such as student debt accounts, may be written off per CU policy.
The state of Colorado had a Central Collections Services agency, who provided debt collection services for the University of Colorado. On July 27, 2020, the State’s Central Collection Services closed, leaving the university with a need to contract directly with debt collection service providers. Further information about the closure is available at the .
- If you have questions regarding the accounting for items referred for collection, refer to chapter 12 of the Guide or contact your campus accountant.
- For assistance contracting with a private collection agency, you must contact the .
For either, some basic guidelines apply:
- Accounts must be at least 24 months old
Private Collection Agency
Accounts sitting with a private collection agency should be listed on a spreadsheet which details the following:
- ID
- Last Name
- First Name
- Principal
- Interest
- Total Amount
- Date Debt Incurred
- Last Payment Date (if none, please note)
- Type of Payment
In addition, please add a statement from an authorized representative of your department that they are authorizing the write-off(s) on behalf of your department. The text may read, for example:
Recommended for Write-Off Information Required
- Authorizing person’s name and official title
- Authorizing person's signature
- Phone # and email address
- Name of department (requesting the write-off)
Lastly, accounts that are greater than $20K should be listed separately from those under $20K. CCO recommends that the information be submitted on two separate spreadsheets: 1) accounts greater than $20K, and 2) accounts less than $20K. Both spreadsheets must contain all of the information requested above. The write-offs cannot be authorized without your department's information and your authorized approver's signature.
The accounts less than $20K will be reviewed in the ²ÊÃñ±¦µä Campus Controller's Office and if appropriate, approved here. The accounts greater than $20K will require a review by the ²ÊÃñ±¦µä Campus Controller's Office prior to our office submitting them to the OUC for final approval. You will be notified as soon as accounts are approved for write-off, or if there are any questions.