Past Due Accounts
An account is past due when payment of the amount due has not been received by the close of business on the due date. A minimum grace period of five (3) working days will be allowed for payment. Failure to pay by that time will result in:
- Late Payment Penalties
- The amount of the late payment penalty will be established by the Vice President, Finance & Administration. Penalties for student account holders will be published in the MPTC Student Handbook. Penalties for non-student accounts will be assessed at 1.5% of account balance per month.
- Holds
- Student Accounts: A hold will be placed on the past due account restricting future registration, official transcripts, or any other services.
- Non-student Accounts: The College reserves the right to restrict access to services for the account holder or its sponsored students.
- Denial of Credit
- The College may require advance payment of future services on accounts that have been previously referred for collection, or following a loss that is the result of a bankruptcy discharge.
- Any general deposits will be applied to outstanding balances to defray the amounts due to the college.
Delinquent Accounts
Delinquent accounts will be prepared for collection as defined in this policy. An account is delinquent when:
- A student account has a balance owing beyond the end of the term, OR
- A non-student account has an account balance more than 60 days past due.
Account Collections
Collection is initiated when an account becomes delinquent, and there are no satisfactory payment arrangements in place.
- Placement with an Outside Collection Agency
- If the account holder fails to respond to the courtesy contacts within 60 days of delinquency, the debt will be referred to an outside collection agency for further action. The College will utilize Wisconsin Department of Revenue State Debt Collection or Tax Refund Intercept Program, Key2Recovery or qualified collection agencies with whom there is a valid contract. Information may be released such as student payment history, student identification number and social security number to its collection agents. In the event of such action, the student is responsible to pay the collection agency fee which may be based on a percentage at a maximum of 33 1/3% percent of the delinquent account, together with all costs and expenses, including reasonable attorney’s fees, necessary for the collection of the delinquent account.
- Credit Reporting
- Upon second placement of an account with a private collection agency, individuals who have failed to pay their delinquent account balance may be reported to one or more nationally recognized credit reporting bureaus. This may prevent the debtor from obtaining credit in the future.
