1 / 1

Bankruptcy Issues

Bankruptcy Issues. If a student receives Federal Funds in error, funds are pulled back. The University has to return the funds to the federal government (lender) and an accounts receivable is established between the student and the University.

gautam
Download Presentation

Bankruptcy Issues

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bankruptcy Issues • If a student receives Federal Funds in error, funds are pulled back. The University has to return the funds to the federal government (lender) and an accounts receivable is established between the student and the University. • When the University receives notification of Chapter 13 bankruptcy, the Proof of Claim for the debt owed is completed and submitted. • Once the bankruptcy is discharged, collection is resumed unless the debt was discharged by the courts. • Regardless of whether the debt was discharged by bankruptcy or not, only accounts receivable less than $3,000.00 can be written-off with approval from SAO. • Other Debts – Emergency Loans, Alternative Payments, Promise to Pay, etc.

More Related