Receivable Collection Services, LLC provides collection and legal services to multiple higher education clients both in the private sector as well as State Universities. In addition, Receivable Collection Services, LLC maintains student accounts that have entered into payment plans thereby removing the administrative burden from the limited capacity at the Bursar’s office. Most recently, Receivable Collection Services, LLC was appointed by the U.S. Bankruptcy Court to manage the liquidation of all remaining assets of the Chapter 11 Bankruptcy Filing for a NY based college which maintained four separate schools. Receivable Collection Services, LLC also provides collection services to debt buyers that have purchased receivables from closed colleges and whom have acquired Federal guaranteed student loans associated with the closure of HEAF. As part of these engagements, our company also handles the preparation and submission of Discharge Claims and Attorney Network/Legal Collections.

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Receivable Collection Services, LLC staff members fully understand the uniqueness of collecting student debt including the nuances of collecting Perkins, Nursing and Stafford loans, specifically as they relate to the requirements of their respective loan programs. Student collections is not simply another financial class that can be absorbed into a collection firm’s operations, it requires dedicated, trained staff members who understand Title IV of the Higher Education Act of 1965; the requisite due diligence required and record keeping; handling of disability and discharge of loans; repayment criteria; credit bureau reporting; rehabilitation and cohort rates; bankruptcy handling; permissible costs to be charged to the Fund; 90/10 rules, etc.. Receivable Collection Services, LLC prides itself in our knowledge and ability to perform student collections and believes this truly makes us uniquely qualified versus our competition in the collection industry.