commonwealth financial creditor

Report to Creditors pursuant to Section 75-225 of the Insolvency Practice Company's merchant facility held with the Commonwealth Bank of. COMMONWEALTH FINANCIAL SYSTEM, INC. and PENDRICK CAPITAL PARTNERS, LLC, Defendant. has been placed in our office for collection by the current creditor. CommonWealth One Federal Credit Union in VA & Washington D.C. is eager to hear from you and assist. CommonWealth One Financial Network.

Commonwealth financial creditor -

How to Beat Commonwealth Financial in Court

Summary: Is Commonwealth Financial suing you over a delinquent account? Find out how you can win against them in court.

Getting calls, mail, or a lawsuit notification from a debt collector is not something that anyone wants to deal with. Unfortunately, more than 70 million Americans struggle with debt collectors. Conversations with debt collectors are typically unpleasant, and can immediately strike fear. This is why it is important to respond to all debt collectors. You also need to understand what happens when you get served with debt collection papers and learn how to properly beat a debt collector like Commonwealth Financial, in court.

Who is Commonwealth Financial?

Commonwealth Financial Systems is a debt collection agency. You may have been contacted by Commonwealth to collect a debt. Whether you owe this debt or not, it can be extremely stressful. It is good to note that you have the right to dispute any debt that they have tried to collect from you.

If you have seen the name Commonwealth Financial on your credit report, it may appear as a “collections” account. This typically happens when you forget to pay a bill. It will continue to damage your score unless it is removed.

Don't trust debt collectors to respect your rights. Respond with SoloSuit.

How to Beat Commonwealth Financial in Court

Respond to the Complaint

The biggest mistake you can make is to ignore Commonwealth Financial. You must respond to any collection notice that you receive. This may arrive in the form of a summons and complaint. Even if you cannot pay for the debt, you must respond. If you do not respond, Commonwealth will be able to obtain a default judgment against you. This will open up the ability to garnish your wages or take money directly from your bank account. This is why you must always respond to a debt collection lawsuit.

Remember the Following When Responding to a Debt Lawsuit

  • Never admit liability.
  • Force the creditor to prove your debt.
  • File the Answer with the Clerk of Court.
  • Ask for a stamped copy of the Answer from the Clerk of Court.
  • Send the stamped copy certified mail to the plaintiff.
  • Respond to the period set by the lawsuit (anywhere from 20 to 30 days)

Challenge the Company's Legal Right to Sue

There are various methods that you can utilize to respond and beat a debt collector in court. One method is to challenge Commonwealth's right to file a lawsuit. This is because, by the time they have received your debt, it has most likely been sold multiple times. To collect on the debt, they must be able to prove that they have the right to do so and that it belongs to you.

Commonwealth Financial must provide:

  • Credit agreement signed by you
  • Documentation of the chain of custody of all paperwork

Respond to your debt collection lawsuit in 15 minutes with SoloSuit.

Push Back on Burden of Proof

When you get served with a debt collection lawsuit, the “burden of proof” rests heavily with the company that is suing you. This means that Commonwealth Financial must prove the following:

  • Your responsibility for the debt
  • Their right to sue you
  • Your owing of a specific amount

One method of defense can be requiring specific proof of the amount you owe. This might include proof of the following:

  • Increase in balance when making purchases.
  • Increase of balance via fees.
  • Increase of balance due to the original credit agreement signed by you. (You cannot be sued for fees you did not agree to).
  • Accurate confirmation of the current balance reflecting all adjustments.

Point Out the Statute of Limitations

The statute of limitations is a law that governs how long creditors can sue you regarding a debt. The rules vary from state to state, and even regarding the type of lawsuit. When it comes to debt, typically the laws have a range between four to six years, but can go as long as 20 in New York state.

It is important to note that the beginning of the statute of limitations on debt is on the last day that you were active on the account. Activity is defined as the following:

  • Making a payment
  • Drawing funds
  • Making a purchase

Making a payment restarts the clock for your debt, which means you need to examine when the last time you interacted with your account to ensure that the statute of limitations has passed. If it is has, the debt collector can no longer sue you for the debt. Despite this, you will still owe the debt and it may impact your credit, but you cannot have your wages garnished.

Make the right affirmative defense with SoloSuit.

Hiring an Attorney

If you feel that you are in over your head, you can decide to hire an attorney. In this case, consulting an attorney may help you to figure out your options. Consulting with an attorney may help you with the following:

  • Knowing what options you have to pursue.
  • Understanding if it is beneficial to act against the lawsuit.
  • Hearing a third-party opinion.

Sometimes an attorney who believes that the creditor acted illegally may take your case without compensation. This is because if the court determines that the creditor acted illegally, they may order the plaintiff to pay those legal fees including your lawyer.

File a Countersuit

The Fair Debt Collection Practices Act is a set of laws that governs how you may be approached by a third-party debt collector. If you believe that Commonwealth Financial has violated the Fair Debt Collection Practices Act (FDCPA) then you may be able to counter sue them and seek compensation for any related damages.

Use SoloSuit to file a response and win in court.

What You Need to Know About Filing Bankruptcy

If you owe a debt and can't pay it and you are also experiencing other financial struggles, then bankruptcy may be an option for you. Despite this, filing bankruptcy is a long process that has huge ramifications on your credit and financial status, it should not be taken lightly.

Whatever decisions you make about defending yourself against a debt collection lawsuit, be sure to remember that your financial history continues your entire life. Weigh all of your options, and make the decision that works best for you.

What is SoloSuit?

SoloSuit makes it easy to respond to a debt collection lawsuit.

How it works: SoloSuit is a step-by-step web app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.

Respond with SoloSuit

"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James


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Источник: https://www.solosuit.com/posts/480

Virginia Debt Collection Act

§ 2.2-4800. Policy of the Commonwealth; collection of accounts receivable

This chapter establishes the policy of the Commonwealth as it relates to the accounting for, management and collection of all accounts receivable due to the Commonwealth. It shall be the policy of the Commonwealth that all state agencies and institutions shall take all appropriate and cost-effective actions to aggressively collect all accounts receivable. All state agencies and institutions shall be subject to this chapter and shall establish internal policies and procedures for the management and collection of accounts receivable that are in accordance with regulations adopted by the Department of Accounts and the Office of the Attorney General.

1988, c. 544, § 2.1-727; 2001, c. 844.

§ 2.2-4801. Definitions

As used in this chapter, unless the context requires a different meaning:

"Administrative offset" includes, but is not limited to, offsetting any monies, except those specifically exempted by state or federal law, paid by agency or institution for a debt owed to any other state agency or institution.

"Accounts receivable" refers to the classification of debts due the Commonwealth, including judgments, fines, costs, and penalties imposed upon conviction for criminal and traffic offenses, and as defined in the guidelines adopted by the State Comptroller.

"Discharge" means the compromise and settlement of disputes, claims, and controversies of the Commonwealth by the Office of the Attorney General as authorized by § 2.2-514.

"Division" means the Division of Debt Collection of the Office of the Attorney General created pursuant to § 2.2-518.

"Past-due" means any account receivable for which payment has not been received by the payment due date.

"State agency and institution" means any authority, board, department, instrumentality, agency or other unit in any branch of state government. The term shall not include any county, city or town, or any local or regional governmental authority or any "nonstate agency" as defined in the appropriation act.

"Write-off" means a transaction to remove from an agency's financial accounting records an account receivable that management has determined to be uncollectible.

1988, c. 544, § 2.1-726; 1994, c. 565; 2001, c. 844; 2009, c. 797.

§ 2.2-4802. Responsibility for accounts receivable policy; reports

The Department of Accounts shall be the primary state agency responsible for the oversight, reporting and monitoring of the Commonwealth's accounts receivable program.

The Department of Accounts shall adopt necessary policies and procedures for reporting, accounting for, and collecting the Commonwealth's accounts receivable. The Department of Accounts is also charged with adopting regulations concerning guidelines and procedures for writing off accounts receivable.

1988, c. 544, § 2.1-728; 2001, c. 844.

§ 2.2-4803. Legal counsel

The Office of the Attorney General shall be the primary agency responsible for the provision of all legal services and advice related to the collection of accounts receivable, pursuant to § 2.2-507.

The Attorney General shall adopt necessary policies and procedures pertaining to all accounts receivable legal matters and the litigation of past-due accounts receivable that shall be published together with the policies and procedures adopted by the Department of Accounts.

1988, c. 544, § 2.1-729; 2001, c. 844.

§ 2.2-4804. Annual reports

The Department of Accounts and the Attorney General shall annually report to the Governor, the Secretary of Finance and the Chairmen of the Senate Committee on Finance and Appropriations and the House Committee on Appropriations those agencies and institutions that are not making satisfactory progress toward implementing the provisions of this chapter and establishing effective accounts receivable programs.

1988, c. 544, § 2.1-730; 2001, c. 844.

§ 2.2-4805. Interest, administrative charges and penalty fees

A. Each state agency and institution may charge interest on all past due accounts receivable in accordance with guidelines adopted by the Department of Accounts. Each past due accounts receivable may also be charged an additional amount that shall approximate the administrative costs arising under § 2.2-4806. Agencies and institutions may also assess late penalty fees, not in excess of ten percent of the past-due account on past-due accounts receivable. The Department of Accounts shall adopt regulations concerning the imposition of administrative charges and late penalty fees.

B. Failure to pay in full at the time goods, services, or treatment are rendered by the Commonwealth or when billed for a debt owed to any agency of the Commonwealth shall result in the imposition of interest at the judgment rate as provided in § 6.2-302 on the unpaid balance unless a higher interest rate is authorized by contract with the debtor or provided otherwise by statute. Interest shall begin to accrue on the 60th day after the date of the initial written demand for payment. A public institution of higher education in the Commonwealth may elect to impose a late fee in addition to, or in lieu of, interest for such time as the institution retains the claim pursuant to subsection D of § 2.2-4806. Returned checks or dishonored credit card or debit card payments shall incur a handling fee of $50 unless a higher amount is authorized by statute to be added to the principal account balance.

C. If the matter is referred for collection to the Division, the debtor shall be liable for reasonable attorney fees unless higher attorney fees are authorized by contract with the debtor.

D. A request for or acceptance of goods or services from the Commonwealth, including medical treatment, shall be deemed to be acceptance of the terms specified in this section.

1988, c. 544, § 2.1-732; 2001, c. 844; 2009, c. 797.

§ 2.2-4806. Utilization of certain collection techniques

A. Each state agency and institution shall take all appropriate and cost-effective actions to aggressively collect its accounts receivable. Each agency and institution shall utilize, but not be limited to, the following collection techniques, according to the policies and procedures required by the Department of Accounts and the Division: (i) credit reporting bureaus, (ii) collection agencies, (iii) garnishments, liens and judgments, (iv) administrative offset, and (v) participation in the Treasury Offset Program of the United States under 31 U.S.C. § 3716.

B. Except as provided otherwise herein, for collection of accounts receivable of $3,000 or more that are 60 days past due, each agency and institution shall forward those claims to the Division for collection. The Division shall review forwarded accounts, determine the appropriate collection efforts, if any, for each account, and take such actions on the accounts as the Division may so determine.

C. Except as provided otherwise herein, for collection of accounts receivable under $3,000 that are 60 days past due, each agency and institution shall contract with a private collection agency for the collection of those debts. Prior to referring accounts receivable of less than $3,000, agencies and institutions may refer such accounts to the Division. The Division may accept the account for collection or return it to the agency or institution for collection by a private collection agency.

D. Except as otherwise provided in this subsection, where a debtor is paying a debt in periodic payments to an agency or institution, the agency or institution may elect to retain the claim in excess of 60 days provided that such periodic payments are promptly paid until the account is satisfied. In the event the debtor is delinquent (i) by 60 days in paying a periodic payment or (ii) for such other period of time approved by the Division, the account shall be handled in the manner provided by subsections B and C of this section.

E. A public institution of higher education shall provide a debtor who is currently enrolled in such institution the option to pay his debt in periodic payments over the course of the term or semester in which the account became past due or, at the discretion of such institution, over a longer period, provided that such periodic payments are promptly paid until the account is satisfied. In the event that the debtor is delinquent (i) by 60 days in paying a periodic payment or (ii) for such other period of time approved by the Division, the account shall be handled in the manner provided by subsections B and C.

F. Notwithstanding any other provision of this chapter or any other law to the contrary, neither the Virginia Commonwealth University Health System Authority (the Authority) nor the University of Virginia Medical Center (the Center) shall engage in extraordinary collection actions, as defined in § 501(r) of the Internal Revenue Code as it was in effect on January 1, 2020, to collect patient accounts receivable related to medical treatment at such Authority or Center or its affiliated facilities unless the Authority or Center has undertaken all reasonable efforts to determine whether an individual with delinquent debt is eligible for Medicaid or other assistance under the Authority's or Center's financial assistance policy.

G. Each state agency and institution shall report and pay required fees to the Division as required by subsection C of § 2.2-518.

1988, c. 544, § 2.1-733; 2001, c. 844; 2004, c. 919; 2008, cc. 314, 637; 2009, c. 797; 2018, c. 386; 2020, c. 577.

§ 2.2-4807. Debtor information and skip-tracing

Each agency and institution shall collect minimum prescribed information from clients, debtors, and payees. Debtor information available from state agencies, credit reporting bureaus and other appropriate sources shall be used for the purpose of skip-tracing debtors, as specified in the guidelines of the Department of Accounts and the Attorney General. The minimum prescribed information to be collected shall include the federal employer identification number of partnerships, proprietorships, and corporate clients, debtors, and payees. This minimum prescribed information shall be included in the contract payment clause required by § 2.2-4354. The Department of Accounts may require that the minimum prescribed information be supplied on any request for payment, including invoices.

1988, c. 544, § 2.1-734; 1992, c. 110; 2001, c. 844.

§ 2.2-4808. Provision of state services to delinquent debtors

Each state agency and institution shall develop internal policies and procedures, in accordance with accounts receivable policies of the Department of Accounts and the Attorney General, for delaying or withholding certain state services to those persons who refuse to pay their debts.

1988, c. 544, § 2.1-735; 2001, c. 844.

§ 2.2-4809. Agreement authorized; setoff federal debts

A. The Comptroller is authorized to enter into an agreement with the United States to participate in the Treasury Offset Program pursuant to 31 U.S.C. § 3716 for the collection of any debts owed to state agencies. The agreement may provide for the United States to submit debts owed to federal agencies for offset against state payments similar to the procedures for offsetting debts owed to state agencies.

B. The Treasurer shall reduce any state payment by the amount of any federal debt submitted in accordance with the agreement authorized by this section, and pay such amount to the appropriate federal official in accordance with the procedures specified in such agreement.

2008, c. 314.

Источник: https://law.lis.virginia.gov/vacodepopularnames/virginia-debt-collection-act/

Changes to credit reporting

Comprehensive Credit Reporting (CCR) is a change to credit reporting by some credit providers in Australia

Previously, your credit report may have included information like when you applied for credit products and any defaults you’ve had.

With CCR your credit report includes additional information like the dates you opened and closed your personal credit account, account type, credit limits you have and up to 24 months of repayment history.

CCR enables credit providers to obtain a more comprehensive view of your financial situation to better meet responsible lending obligations. The four major banks, CommBank, ANZ, NAB and Westpac (plus lenders owned by them) currently supply 100% of their personal credit accounts information to credit reporting bodies. 

CommBank is participating in CCR as it is part of legislation. We provide personal credit cards information, home loans, personal loans and personal overdraft information to the credit reporting bodies. 

Источник: https://www.commbank.com.au/support/credit-reporting.html

Commonwealth Financial Systems – Debt Collection

Directory >> USA >> Pennsylvania >> Dickson City >> Commonwealth Financial Systems

Commonwealth Financial Systems is Northeastern PA’s leader in the field of accounts receivable management and financial services.

Account Receivable Services:
* First party outsourcing
* Third party collections
* Skip tracing
* Billing services
* On-site collections
* Credit bureau reporting.

Address:
245 Main Street
Dickson City, PA 18519

Phone:
800-848-2170
(973) 810-2931

Email/Contact:
Contact Commonwealth Financial Systemsusing the form located on this page: www.cfsi-arm.com/contact.html

Website:
www.cfsi-arm.com

Source of information / References:
www.cfsi-arm.com/
www.cfsi-arm.com/contact.html
www.cfsi-arm.com/our-company/about-us.html

Make changes to this page? or Add a new collection agency listing?
If you own this collection agency and there is a need to update information presented on this page, kindly email us at “[email protected]

Information presented about this collection agency may not be 100% accurate or may have changed since we created this page. Kindly visit the agency’s website for the most up to date information.

Источник: https://nexacollect.com/commonwealth-financial-systems/

Financial aid

On this page

Student Financial Management Center
Harris Hall
1015 Floyd Ave.
Box 843026
Richmond, Virginia 23284-3026
Phone: (804) 828-6669
Fax: (804) 827-0060
finaid.vcu.edu

The Student Financial Management Center provides a variety of services to help students afford higher education via grants, scholarships, work-study employment and loans. Financial counselors provide one-on-one consultations to students, their parents, faculty and staff about accounts, educational expenses and financial management. 

VCU Financial Aid administers and distributes funds from federal, state, institutional and private fund sources. Financial Aid uses all available funds to help students gain access to a college education. Aid funds are applied first to the student’s university bill; refunds are generated when financial aid exceeds university charges. Eligibility for financial aid varies depending on a student’s academic and financial circumstances. In most cases, each student will qualify for some form of financial assistance.

Current and detailed information on financial aid programs, financing college and planning for the future, along with links to free scholarship search services and to schedule one-on-one appointments are available on the SFMC website.

Counseling center locations

Four financial counseling and information centers are available to prospective and enrolled students. You may visit the offices in person or submit a written request to receive printed information.

MonroeParkCampus
Grace E. Harris Hall
1015 Floyd Avenue, First Floor
Box 843026
Richmond, Virginia 23284-3026
Phone: (804) 828-6669
Fax: (804) 827-0060
sfmc.vcu.edu/contactus

College of Health Professions, School of Nursing and School of Pharmacy
VMI Building, Room 334
1000 East Marshall Street
Box 980277
Richmond, Virginia 23298-0277
Phone: (804) 828-2702
Fax: (804) 827-0060

School of Dentistry
Lyons Building, Room 309
520 North 12th Street
Box 980566
Richmond, Virginia 23298-0566
Phone: (804) 828-9953
Fax: (804) 828-6072

School of Medicine
McGlothlin Medical Education Center
1201 East Marshall Street, Room 4-306
Box 980565
Richmond, Virginia 23298-0565
Phone: (804) 828-4006
Fax: (804) 827-5555

General information

Many students at the university receive financial aid. Below are some recommendations and requirements of VCU Financial Aid.

eServices – online records access

Students are encouraged to use eServices, a password-protected service for viewing VCU student records online, to check the status of their financial aid application and award package. Students also may register for classes, print bills and more. The eServices website is accessed through myVCU portal on the VCU homepage.

Email – official method of communication

Students are required to obtain an official VCU student email account within one week of the beginning of their first semester of enrollment. Students are responsible for reading university-related communications sent to their official VCU student email account in a timely fashion. VCU Financial Aid uses email to provide financial aid information, to request documentation to support financial aid application data and to provide financial aid application status and award information. Information on how to set up an account is available online.

Identification requirements

Students must provide picture identification, preferably a VCUCard, for in-person access to financial aid records. For the student’s protection, information provided over the telephone and email may be limited if the financial aid staff member is not confident of the student’s identity.

University bill

The Student Accounting Department issues online bills for tuition, fees and other university charges. When financial aid awards (grants, scholarships and loans) are not enough to pay university charges, the remaining balance must be paid from personal funds, credit card or the VCU Installment Payment Plan. Federal work-study awards will not be deducted from university charges because those funds are paid directly to the student, based on hours worked. Any outstanding balance owed will prevent a student from registering for courses and receiving official transcripts. Students who fail to pay their balance on time may be assessed a late payment fee and have a financial hold placed on their account. If the balance remains outstanding after the semester ends, their account may be referred to the VCU Collection Unit at which time collection costs will be assessed.

Types of financial aid

There are three basic types of financial aid: loans, grants and work-study. Each type has different features and advantages.

Loans

In terms of total dollars available, long-term loan programs provide the most dollars. A loan is money borrowed and must be repaid at a later time. In most cases, the student is the borrower and repays the loan once he or she is no longer pursuing a degree or certification at least at the half-time enrollment level. There also is a loan program where the parent is the borrower and begins repaying the loan while the student is still enrolled. All educational loans carry competitive interest rates and terms. Some include interest benefits, meaning the federal government pays the interest on the loan while the student is enrolled. Student loan repayment generally begins after the student is no longer enrolled half time. Multiple repayment plans provide the borrower with flexible repayment options. Selected loan programs include:

  • Federal Direct Loan (subsidized and unsubsidized)
  • Health Professions Student Loan
  • Loan for Disadvantaged Students
  • Nursing Student Loan
  • Primary Care Loan
  • Federal Direct PLUS Loan

First-time borrowers in the Federal Direct Loan program must complete entrance counseling prior to the first loan disbursement. A link to directions for completion of this requirement can be found on the Financial Aid website.

Grants and scholarships

Grants and scholarships are awarded without any expectation of repayment. Most grants are reserved for students with the greatest financial need. Most scholarships are based on merit. Selected programs include:

Undergraduate programs

  • Federal Pell Grant
  • Commonwealth Award (state grant)
  • Virginia Guaranteed Assistance Program (state grant)
  • Federal Supplemental Educational Opportunity Grant
  • VCU Scholarships
  • Honors Scholarships
  • Departmental Scholarships

Health profession programs

  • Scholarships for Disadvantaged Students
  • State Dental Practice Scholarships
  • General Assembly Nursing Scholarships
  • Departmental Scholarships

Work-study

Work-study is a form of financial aid that pays wages for work performed through employment. Work-study positions are located on campus and in approved locations off campus. Please visit the financial aid website for additional information.

Eligibility, availability and special circumstances

Eligibility for financial aid

Most students are eligible for some type of financial aid regardless of family financial circumstances. Basically, to receive aid from any of the federal or state student aid programs, students must:

  • Submit a Free Application for Federal Student Aid or Renewal FAFSA designating VCU (school code 003735) to receive FAFSA results.
  • Demonstrate financial need, except for some loan programs
  • Have a high school diploma or a General Education Development certificate
  • Be enrolled or accepted for enrollment to an eligible degree or certificate program
  • Be enrolled at least half time, six or more undergraduate credit hours (exceptions possible for Pell Grants) or five or more graduate credit hours
  • Be a U.S. citizen or eligible noncitizen
  • Have a valid Social Security number (unless from the Republic of the Marshall Islands, the Federated States of Micronesia or the Republic of Palau)
  • Meet Satisfactory Academic Progress standards as defined by VCU Financial Aid (The full VCU SAP policy is available on the Financial Aid website.)
  • Certify that federal and state financial aid will be used for educational purposes only
  • Not be in default on a federal student loan and not owe money on a federal student grant
  • Comply with Selective Service registration, if required
  • Not be convicted under federal or state law of sale or possession of illegal drugs

Detailed information can be found in the federal Student Guide, available in print form from VCU Financial Aid or electronically on the Federal Student Aid website.

Availability of financial aid for special programs

Summer studies

Limited financial aid may be available during the summer semester. Students interested in financial aid for the summer semester should view the VCU Schedule of Classes (posted in March) for more details.

Students interested in financial aid for summer must have a FAFSA on file with VCU Financial Aid and review the summer financial aid policy statement, available on the financial aid website.

Study abroad

Financial assistance is available to eligible students enrolled in approved study-abroad programs. All study-abroad programs must be coordinated through the Global Education Office at (804) 828-8471. Students should work with a financial aid counselor to coordinate aid for their study-abroad program. Information about financial aid and study abroad is available on the Global Education Office website.

Special circumstances

Financial aid eligibility decisions are made using federal, state and institutional regulations and policies. Students may appeal their award offers if special circumstances warrant a review. Reasons for an appeal might include one of the following documented circumstances:

  • Loss or reduction of employment earnings
  • Disability or death of parent or spouse
  • Separation or divorce
  • Loss or reduction of untaxed income
  • Unusual medical expenses
  • Dependent and child-care expenses

Any financial aid staff member can advise a student about the procedures on how to file an appeal.

Applying for financial aid

Application process

The financial aid application process for the academic year begins Oct. 1. All students are encouraged to complete and submit the Free Application for Federal Student Aid as soon as possible after Oct. 1, designating VCU (school code 003735) to receive the results. In order to reduce problems, errors and omissions on the FAFSA, students are encouraged to apply electronically using FAFSA online. Once the FAFSA is filed, the federal processor will send the student a Student Aid Report or electronic SAR acknowledgment, and also will electronically send the information to VCU Financial Aid if VCU was listed as a school to receive the data. If additional information is needed to complete processing of the application, VCU Financial Aid will send the student a request for that information. Responding promptly to such requests will ensure timely processing of the application. Once the review of FAFSA data has been completed, Financial Aid will send the student a financial aid notification.

Priority filing dates

Certain financial aid programs, like federal grants, federal work-study and state grants, have limited funding — this means that there are more students eligible for the programs than there are funds available to award to them. Therefore, students should file the FAFSA as early as possible and reply to requests for additional information promptly to ensure consideration for this type of funding. VCU Financial Aid recommends electronically filing the FAFSA by Feb. 1.

Students who do not have access to the Web may apply using the paper FAFSA, available through VCU, high schools, colleges and most public libraries. Those students completing a paper application should mail it to the federal processor by Feb. 1.

Students should complete the FAFSA early so that it can be processed by the priority filing date of Feb. 1 and may use actual income and tax data in order to meet that deadline. Applicants may be able to use the IRS data retrieval tool to transfer federal tax return information into the FAFSA. Students will receive their actual award letter after their FAFSA application data has been verified.

Applying after the priority filing date

Students can and should apply for financial aid even if they missed the priority filing date because they may still qualify for the Federal Pell Grant and Federal Direct Loans; their parents may qualify for Federal Direct PLUS Loans. If students have not applied for financial aid in a timely manner, they may want to participate in the VCU Installment Payment Plan, which budgets each semester’s bill over four payments. Information about this plan can be found on the Student Accounting Department’s website.

Verification

To ensure that information provided on the FAFSA is accurate, a student’s application may be selected for review at any time during an enrollment period, and the student will be requested to provide documentation that supports the information. By signing the FAFSA, a student (and the student’s parent or spouse, if applicable) agrees to furnish such documentation. If the documentation is not provided when requested, financial aid awards will be canceled and any funds already disbursed may need to be repaid.

Satisfactory academic progress

VCU Financial Aid will review all students who have applied for financial aid to be sure that they are making progress toward completion of their degree/certificate. The satisfactory academic progress review will be conducted at least once annually (typically at the end of the spring semester, or whenever the student submits a completed FAFSA). SAP is a combination of qualitative and quantitative components and is measured by:

  1. Grade point average. Undergraduate students must maintain a 2.0 cumulative GPA. Graduate students must maintain a 3.0 cumulative GPA.
  2. Completion rate. The completion rate is measured by the number of credit hours earned divided by the number of credit hours attempted. All students who need financial aid funding must successfully complete at least 67 percent of all credit hours attempted (transfer credit hours are included).
  3. Overall progress toward degree/certificate. Overall progress is measured by the number of credit hours attempted divided by the number of credit hours necessary to complete the degree or certificate program. Students who need financial aid funding may attempt no more than 150 percent of the hours required to complete their degree or certificate program.

When students fail to meet SAP requirements they will receive suspension notices indicating that they are ineligible to receive further financial aid. Students whose eligibility for financial aid has been suspended may submit an appeal if mitigating circumstances prevented the student from maintaining SAP. However, there is no guarantee that the appeal will be approved. Please refer to the Financial Aid website for more details on SAP requirements and the SAP appeal process.

Federal and state financial aid refund policy

Students who receive federal Title IV or state grant or loan assistance and withdraw from VCU before completing 60 percent of the semester (as measured in calendar days) must have their eligibility recalculated based on the federal return of Title IV funds formula. This federal formula specifies that a students financial aid eligibility must be recalculated based on the aid the student has earned (based on the number of days that the student was enrolled or attending VCU prior to withdrawal). Any unearned aid (for the period of enrollment that the student did not complete from the date of withdrawal to the end of the semester) must be returned to the appropriate Title IV or state programs from which the student was awarded.

For VCU students who withdraw prior to completing 60 percent of the semester, they will have to return or repay all or a portion of the aid funds that had been disbursed to their VCU account. As a result, students who withdraw prior to completing 60 percent of the semester may be responsible for all or a portion of their university bill that was previously paid by financial aid sources.

If a student does not officially withdraw from all classes but fails to earn a passing grade in at least one course, federal aid regulations require that the student be considered “unofficially withdrawn,” unless it can be documented that the student completed the enrollment period. Unofficial withdrawals require a Title IV refund calculation at the midpoint of the enrollment period. The reduction of federal and state aid will create a balance due to the university that must be repaid.

Military educational benefits and programs

Veteran’s certification for VCU is completed within the Military Student Services office located in Grace E. Harris Hall on the Monroe Park Campus. Detailed information about eligibility for Veterans Affairs programs is available on the Military Student Services website.

Military Student Services
Grace E. Harris Hall, Room 3122
1015 Floyd Avenue
Box 842536
Richmond, Virginia 23284-2536
Phone: (804) 828-6563
Fax: (804) 828-8212
Email: [email protected]
militaryservices.vcu.edu

Available programs

For details on any of these programs, please visit the Military Benefits and Scholarships and Aid pages on the Military Student Services website.

  • Montgomery – GI Bill Active Duty (Chapter 30)
  • Vocational Rehabilitation (Voc Rehab, Chapter 31)
  • Veterans Education Assistance Program (VEAP, Chapter 32)
  • Post 9-11 GI Bill (Chapter 33)
  • Survivors’ and Dependents Educational Assistance Program (DEA, Chapter 35)
  • Montgomery – GI Bill Selected Reserves (Chapter 1606)
  • Tutorial Assistance Program
  • VA Work-Study Program
  • Virginia Military Survivors and Dependants Education Program
  • Post 9-11 – Active Duty (Chapter 33)/Yellow Ribbon Program
  • Yellow Ribbon Program
  • Transferability of Benefit

Eligibility requirements

Eligible veterans/spouses/dependents must comply with the following requirements to receive educational benefits as students:

  1. The veteran/spouse/dependent must be accepted into a degree or certificate program or be matriculating as a nondegree-seeking student for only two semesters before having to declare a major.
  2. The veteran/spouse/dependent must request certification by completing and submitting VCU’s VA education assistance form after obtaining approval via signature of their academic adviser and registering for courses each semester and each summer session from the Veterans Affairs Office.
  3. The veteran/spouse/dependent is eligible to use benefits for only those courses taken toward a degree, certificate program or as prerequisite courses (only two semesters).
  4. The veteran/spouse/dependent is not eligible to use benefits for courses taken on an audit basis or if eliminating a course previously taken and paid for by the VA to remove a punitive grade not counted in GPA calculations via VCU’s historical repeat option. The repeated course(s) will be paid for by the VA but the student will incur a debt to the VA for the course(s) eliminated from the student’s GPA. The VA does not pay for courses that earn no credit.
  5. The veteran/spouse/dependent is responsible for ensuring that transcripts are evaluated for transfer credits to be accepted by VCU. Students must submit this information to the Veterans Affairs Office for transmittal to the Veteran’s Administration Regional Office.
  6. The Veterans Affairs Office must be notified by the student/veteran/spouse/dependent if they change, add, drop or withdraw from courses originally approved by the student/veteran/spouse/dependent’s academic adviser and certified by VCU’s Veterans Affairs coordinator/certifying official.
Источник: http://bulletin.vcu.edu/undergraduate/undergraduate-study/financial-aid/

Who is Commonwealth Financial Systems?

Commonwealth Financial Systems, Inc. (CFSI) is a debt collection agency located in Dickson City, Pennsylvania. Their core focus is in the following industries:

  • commercial
  • debt buyers
  • financial services
  • government
  • medical
  • retail

You may see CFSI listed on your credit report as a collections account. This can happen if you forgot to pay a bill and your account was sent to a debt collector.

Commonwealth Financial Systems may appear on your credit report as any of the following entries:

  • cfsi
  • cfsi collections
  • commonwealth collections
  • commonwealth finance
  • commonwealth financial
  • comnwlth fin

Removing Commonwealth Financial Systems from Your Credit Report

Collections can hurt your credit score and remain on your credit report for up to 7 years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.

However, it is possible to have a collection account removed from your credit report before 7 years.

(Debt collectors prefer that we didn’t tell you this, but it’s something you should know.)

Lexington Law Firm is a credit repair company that helps people fix their credit.

In addition to collections, Lexington Law will help you challenge (and possibly remove) other inaccurate information from your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, judgments, tax liens, and bankruptcies.

Call Lexington Law now to learn more: (800) 220-0084

Commonwealth Financial Systems Inc. (CFSI) Contact Information

Address:

Commonwealth Financial Systems
245 Main St
Dickson City, PA 18519-1641

Website:https://www.cfsi-arm.com

Phone number: (800) 848-2170

Should I contact or pay Commonwealth Financial Systems?

Nothing good can come from contacting a debt collection agency. And making payments on the collection account will reset the clock. So instead of helping your credit, it could make it worse.

The best way to go about handling this is to work with a professional credit repair service. They have deleted millions of negative items from companies like Commonwealth Financial Systems for millions of clients nationwide.

And they can help you too.

Will Commonwealth Financial Systems sue me or garnish my wages?

It’s possible, but if you work with a law firm like Lexington Law, you have nothing to worry about. They will help you dispute the collection account and possibly get it removed from your credit report. It’s also quite possible that you will never hear from or have to deal with Commonwealth Financial Systems again.

Call Lexington Law to learn how they can help you avoid lawsuits and remove negative items from your credit report that will significantly improve your credit scores.

Wage Garnishment

Some states allow wage garnishment, while others do not. It is important to note that if you are in a state that does not allow wage garnishment, it is illegal for them to threaten to garnish your wages.

It is what is an online id bank of america illegal for Commonwealth Financial Systems to make any claims they cannot or will not follow through on – this includes threatening to sue you or to foreclose on your home.

Commonwealth Financial Systems, Inc. Complaints

Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most complaints are about inaccurate reporting, harassment, or failure to verify a debt. If you find yourself facing any of these situations with a debt collection agency, you should also consider filing a complaint.

You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Lexington Law knows that you have rights, and Commonwealth Financial Systems does too.

How Collections Affect Your Credit

Missed payments over several months will cause a hit to your credit score. Couple that with a collection account on your credit report, and it can definitely impact your ability to qualify for new credit.

Debt collectors often buy and sell debt from one another, so this can lead to multiple collections showing on your credit reports for the same account.

When this happens, if you don’t dispute the accounts, they will definitely harm your credit score.

Your Rights When Dealing with Commonwealth Financial Systems, Inc.

There are strict regulations about what a debt collector can and cannot do in the United States. For example, the Fair Debt Collection Practices Act prevents the use of bank of america car loan rates platinum privileges or deceptive tactics to collect any debt, whether or not you actually owe it. In addition, the FDCPA provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:

  • It is a violation of federal law for Commonwealth Financial Systems to report inaccurate or incomplete information on your credit report.
  • Debt validation. Under the FDCPA, you have the right to validate a debt. Upon request, the collection agency reporting the information must prove to you, within 30 days, that the account is really your responsibility and the amount of money you owe is accurate.
  • All personal debts are covered, including personal credit cards, auto loans, household bills, and mortgage payments.
  • Commonwealth Financial Systems may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
  • Commonwealth Financial Systems must be honest about who they are and what they are trying to do. They must notify you that they are a collection agency both orally and in writing.
  • Commonwealth Financial Systems cannot threaten to have you arrested, and they are not allowed to threaten to take legal action if they have no intention of doing so.

More Tips on Dealing with Commonwealth Financial Systems, Inc.

Avoid the phone. NEVER talk to a debt collector on the phone. The less they know about you, the better.

Politely tell Commonwealth Financial Systems it’s your policy to deal with everything in writing. Request a letter with the original debt information and then hang up. If they keep calling, send them a cease & desist letter.

Record their phone calls. If you must deal with a debt collection agency on the phone, record them. Thirty-five states and the District of Columbia allow you to record your phone conversations secretly.

In the other 15 states, you can record with the other party’s permission. If you tell the debt collector you are going to record, and they keep talking, that’s considered giving permission. They will usually hang up.

Don’t believe what they say. Debt collectors are known to make false threats, lie, and tell you whatever they need to commonwealth financial creditor you to try to get you to pay the debt.

Don’t try to hide money. It’s considered fraudulent to hide money or assets from a legitimate debt collector if you owe them. However, it’s also best to avoid giving access to your bank account or credit card information.

Don’t ignore them. You can do things on your terms, but ignoring the situation will not make CFSI go away. Ignoring them sets you up for a possible lawsuit.

Know Your State’s Statute of Limitations. Each state has a statute of limitations on debt. Once your debt reaches a certain age, it is considered “zombie debt,” and you are no longer find fast food near me now obligated to pay it. The age limit varies from state to state, but usually, it’s around 4-6 years.

A collection agency is still allowed to contact you about these debts, but they commonwealth financial creditor no longer sue you for them, and you are not required to pay them.

Can Commonwealth Financial collections be removed from my credit report?

Lexington Law specializes in disputing Commonwealth Financial Systems accounts. They have over 28 years of experience and have removed over 7 million negative items for their clients in 2020 alone.

Get Your Collections Removed Today!

If you’re looking for a reputable credit repair company to help you with collection accounts and repair your credit, we HIGHLY recommend Lexington Law.

Call them at (800) 220-0084 for a free credit consultation. They have helped many people in your situation and have paralegals standing by waiting to take your call.

Источник: https://www.crediful.com/collection-agencies/commonwealth-financial-systems/

Important information to stay connected

When you need answers and assistance, you want things to move quickly. We're here to help. Feel free to contact us anytime with your questions.

Phone Numbers

Member Contact Center

(703) 823-5211 or (800) 424-3334 or using our online scheduler or secure messaging.
If you are calling regarding your contactless debit card, please press option 2 for debit cardholder services.

Monday - Friday 8:00 am - 6:00 pm,
Saturday 9:00 am - 2:00 pm

Fax (703) 650-4003

Spanish and hearing impaired services available


Send a secure email message by logging into Online Banking and clicking the Envelope Icon ✉ in the top right corner,
or send a secure message now.

24-Hour PhoneOne Banking

(703) 823-5211, Option 3 or (800) 424-3334, Option 3


Traveling Out Of Town?

When you travel out of state or country, please notify us at least one business day in advance. We'll make sure your CommonWealth One debit or credit card continues to work as you expect. If you don't notify us, we may flag your purchases as part of our regular fraud monitoring. 


Visa® Debit Card Cardholder Services

(866) 985-2273 (Activation)
(866) 639-9621 (Lost/Stolen)


Visa® Credit Card Cardholder Services

(800) 639-9621
(800) 449-7728 (Lost/Stolen)


Check Reordering through Harland Clarke

(800) 500-2441


CommonWealth One Financial Network

(703) 823-5211 or (800) 424-3334


Mailing Address

For deposits and all other stamped mail sent through the U.S. Postal Service (including Express Mail®, Priority Mail® and Parcel Post®)

CommonWealth One Federal Credit Union
P.O. Box 9997,
Alexandria, VA 22304


Physical Address

CommonWealth One Federal Credit Union
4875 Eisenhower Avenue, Suite 100
Alexandria, VA 22304


Credit Card Payment Mailing Address

CommonWealth One Federal Credit Union
P.O. Box 71050
Charlotte, Commonwealth financial creditor 28272-1050


Important!
This form is for general inquiries about CommonWealth One Federal Credit Union. Please log in to Online Branch using the login box above and click on the secure Contact Us link for messages that may include personal information such as your account number, date of birth, or social security number, inquiries about specific account information, or request changes to your account record.

Источник: https://www.cofcu.org/contact-us/

Changes to credit reporting

Comprehensive Credit Reporting (CCR) is a change to credit reporting by some credit providers in Australia

Previously, your credit report may have included information like when you applied for credit products and any defaults you’ve had.

With CCR your credit report includes additional information like the dates you opened and closed your personal credit account, account type, credit limits you have and up to 24 months of repayment history.

CCR enables credit providers to obtain a more comprehensive view of your financial situation to better meet responsible lending obligations. The four major banks, CommBank, ANZ, NAB and Westpac (plus lenders owned by them) currently supply 100% of their personal credit accounts information to credit reporting bodies. 

CommBank is participating in CCR as it is part of legislation. We provide personal credit cards information, home loans, personal loans and personal overdraft information to the credit reporting bodies. 

Источник: https://www.commbank.com.au/support/credit-reporting.html

If you’ve been contacted by Commonwealth Financial Systems about an unpaid bill, whether by phone calls or collection letters, you may be wondering how to get them removed from your credit report.

Owing money to a debt collection agency can put a damper on your financial plans and add stress to your daily life.

With the advice below, you can stop Commonwealth Financial Services’ collection calls, resolve your account, and improve your credit score.

What is Commonwealth Financial Systems?

Commonwealth Financial Systems is a third-party debt collection agency. They’ve been in business for the last 19 years collect on almost any type of debt including credit cards, medical debt, student loans, and other personal debt.

They buy defaulted commonwealth financial creditor from creditors for a fraction of their worth and try to get consumers to pay the balance in full.

Commonwealth Financial Systems may appear on your credit report as:

  • CFSI
  • CFSI Collections
  • Commonwealth Financial Systems, Inc
  • Commonwealth Collections
  • Commonwealth Finance
  • Commonwealth Financial

How Does Commonwealth Financial Systems Work?

Debt collection agencies buy debts at low costs from service providers across several industries on accounts that have gone unpaid.

So if you see CFS pop up on your credit report as a collections account, it’s likely for a bill that slipped through the cracks.

Moreover, Commonwealth Financial Services is a late-stage, or junk, debt collector, which means they purchase debts from other collection agencies.

Once the agency has bought a debt from a company, its representatives have the right to pursue payback by calling and writing to you frequently.

Also, placing CFS on your credit report can do damage to your score for up to seven years.

4 Simple Ways to Remove Commonwealth Financial Systems from Your Credit Report 

If Commonwealth Financial Systems shows up on your credit report, it’s essential to get it removed. Here’s the problem.

It’s not easy.

Could you do it yourself? Sure, but it’s going to take time and patience (and a lot of headaches). I recommend hiring a credit repair company. If you can’t, I’ve outlined a few other simple steps you can take.

1. Hire a Credit Repair Company

Like I said above, a credit repair company is the way to go. They do the work for you and find things to dispute that you may not see. If you want Commonwealth Financial Systems off your credit report, this is the way to do it.

The best credit repair company will dispute every little detail they can down to the spelling of your name to get it off your credit report.

Check out Credit Saint. They are a clear leader in the credit repair industry and have helped thousands of Americans take back their credit.

2. Submit a Debt Validation letter

If you don’t want to pay a credit repair company, I get it. The monthly fee can be a lot to swallow when you’re trying to fix your credit, not get into more debt. I suggest writing a debt validation letter.

Here’s the trick, though. You have to do it FAST. You have 30 days from the date they first contact you to ask for debt validation.

Write a letter asking for specific details about the debt. Get as specific as you can, and is cinnamon sticks good for you proof of each answer. If they can’t provide the proof, which they usually can’t, they have to delete the collection.

3. Try Goodwill Deletion

If the debt validation doesn’t work or you miss your 30-day window, try a goodwill deletion. This only works if you have a good credit history, though.

A goodwill deletion is basically a plea to request the original creditor to remove the debt in exchange for payment. If you have a positive payment history with them, they may be willing.

Don’t forget, though, you need Commonwealth removed too. It’s a bit of a complicated situation, which is why a credit repair service may be the best option.

4. Negotiate a Pay for Delete Agreement

If all else fails, negotiate a pay for delete agreement. You ‘hold the payment over their head.’ If they agree to delete the tradeline in exchange for payment, get it in writing.

Do not pay them until you have proof of their agreement. This way if they don’t do what they said, you have written proof and can dispute it again.

Who Does Commonwealth Financial Systems Collect Debt for?

Commonwealth Financial Systems collects for a lot of companies. Basically, any debt you default on you may run into them.

Credit card debt, personal loan debt, medical debt, and student loan debt are just a few examples of the types of credit they buy.

What Consumer Rights Protect Me from Commonwealth Financial Systems?

The Fair Debt Collections Practices Act (FDCPA) protects you from companies like Commonwealth Financial Systems. While fun facts about the outer banks can contact you, they must act within reason.

For example, they can’t call before 8 AM or after 9 PM. They can’t harass you by constantly calling or emailing you. They also can’t threaten you or use means outside of their power like seizing your assets.

If you feel you’ve been unfairly treated by Commonwealth Financial Systems, file a complaint with the Consumer Financial Protection Bureau.

Can Commonwealth Financial Systems Sue Me?

Any collection agency can sue you. They’d have to hire lawyers to bring the judgment against you. Chances are they won’t, but the risk is always there.

That’s why it’s crucial to work with a reputable credit repair agency that will make sure your rights are protected and/or dispute any unfair or inaccurate information reported.

Commonwealth Financial Systems Complaints: What Are Consumers Saying?

Currently, Commonwealth Financial Systems has almost 500 complaints, but only 133 were within the last year. Most complaints have to do with Commonwealth showing up on their credit report for accounts they never had.

Many also say they put a collection on their credit report for accounts that are outside of their statute of limitations (which is against the law).

Can You Remove Commonwealth Financial Systems from Your Credit Report?

You can remove Commonwealth Financial Systems from your credit report, but it’s a lot of work. It won’t happen overnight, and it may not happen with your first, second, or even third attempt. You have to be diligent in your efforts – do not give up.

At the very least, if you pay the debt, make sure you negotiate a lower settlement than you are okay paying. Within the settlement agreement, make sure they agree to delete the collection.

Again, get it in writing. You have nothing to hold them to their word if you have a verbal agreement.

Commonwealth Financial Systems Contact Information:

  • Mailing Address: 245 Main St, Dickson City, PA 18519
  • Phone Number: 1-800-848-2170

Check this Video:

Источник: https://behindcredit.com/remove-commonwealth-financial-systems/

Virginia Debt Commonwealth financial creditor Act

§ 2.2-4800. Policy of the Commonwealth; collection of accounts receivable

This chapter establishes the policy of the Commonwealth as it relates to the accounting for, management and collection of all accounts receivable due to the Commonwealth. It shall be the policy of the Commonwealth that all state agencies and institutions shall take all appropriate and cost-effective actions to aggressively collect all accounts receivable. All state agencies and institutions shall be subject to this chapter and shall establish internal policies and procedures for the management and collection of accounts receivable that are in accordance with regulations adopted by the Department of Accounts and the Office of the Attorney General.

1988, c. 544, § 2.1-727; 2001, c. 844.

§ 2.2-4801. Definitions

As used in this chapter, unless the context requires a different meaning:

"Administrative offset" includes, but is not limited to, offsetting any monies, except those specifically exempted by state or federal law, paid by agency or institution for a debt owed to any other state agency or institution.

"Accounts receivable" refers to the classification of debts due the Commonwealth, including judgments, fines, costs, and penalties imposed upon conviction for criminal and traffic offenses, and as defined in the guidelines adopted by the State Comptroller.

"Discharge" means the compromise and settlement of disputes, claims, and controversies of the Commonwealth by the Office of the Attorney General as authorized by § 2.2-514.

"Division" means the Division of Debt Collection of the Office of the Attorney General created pursuant to § 2.2-518.

"Past-due" means any account receivable for which payment has not been received by the payment due date.

"State agency and institution" means any authority, board, department, instrumentality, agency or commonwealth financial creditor unit in any branch of state government. The term shall not include any county, city or town, or any local or regional governmental authority or any "nonstate agency" as defined in the appropriation act.

"Write-off" means a transaction to remove from an commonwealth financial creditor financial accounting records an account receivable that management has determined to be uncollectible.

1988, c. 544, § 2.1-726; 1994, c. 565; 2001, c. 844; 2009, c. 797.

§ 2.2-4802. Responsibility for accounts receivable policy; reports

The Department of Accounts shall be the primary state agency responsible for the oversight, reporting and monitoring of the Commonwealth's accounts receivable program.

The Department of Accounts shall adopt necessary policies and procedures for reporting, accounting for, and collecting the Commonwealth's accounts receivable. The Department of Accounts is also charged with adopting regulations concerning guidelines and procedures for writing off accounts receivable.

1988, c. 544, § 2.1-728; 2001, c. 844.

§ 2.2-4803. Legal counsel

The Office of the Attorney General shall be the primary agency responsible for the provision of all legal services and advice related to the collection of accounts receivable, pursuant to § 2.2-507.

The Attorney General shall adopt necessary policies and procedures pertaining to all accounts receivable legal matters and the litigation of past-due accounts receivable that shall be published together with the policies and procedures adopted by the Department of Accounts.

1988, c. 544, § 2.1-729; 2001, c. 844.

§ 2.2-4804. Annual reports

The Department of Accounts and the Attorney General shall annually report to the Governor, the Secretary of Finance and the Chairmen of the Senate Committee on Finance and Appropriations and the House Committee on Appropriations those agencies and institutions that are not making satisfactory progress toward implementing the provisions of this chapter and establishing effective accounts receivable programs.

1988, c. 544, § 2.1-730; 2001, c. 844.

§ 2.2-4805. Interest, administrative charges and penalty fees

A. Each state agency and institution may charge interest on all past due accounts receivable in accordance with guidelines adopted by the Department of Accounts. Each past due accounts receivable may also be charged an additional amount that shall approximate the administrative costs arising under § 2.2-4806. Agencies and institutions may also assess late penalty fees, not in excess of ten percent of the past-due account on past-due accounts receivable. The Department of Accounts shall adopt regulations concerning the imposition of administrative charges and late penalty fees.

B. Failure to pay in full at the time goods, services, or treatment are rendered by the Commonwealth or when billed for a debt owed to any agency of the Commonwealth shall result in the imposition of interest at the judgment rate as provided in § 6.2-302 on the unpaid balance unless a higher interest rate is authorized by contract with the debtor or provided otherwise by statute. Interest shall begin to accrue on the 60th day after the date of the initial written demand for payment. A public institution of higher education in the Commonwealth may elect to impose a late fee in addition to, or in lieu of, interest for such time as the institution retains the claim pursuant to subsection D of § 2.2-4806. Returned checks or dishonored credit card or debit card payments shall incur a handling fee of $50 unless a higher amount is authorized by statute to be added to the principal account balance.

C. If the matter is referred for collection to the Division, the debtor shall be liable for reasonable attorney fees unless higher attorney fees are authorized by contract with the debtor.

D. A request for or acceptance of goods or services from the Commonwealth, including medical treatment, shall be deemed to be acceptance of the terms specified in this section.

1988, c. 544, § 2.1-732; 2001, c. 844; 2009, c. 797.

§ 2.2-4806. Utilization of certain collection techniques

A. Each state agency and institution shall take all appropriate and cost-effective actions to aggressively collect its accounts receivable. Each agency and institution shall utilize, but not be limited to, the following collection techniques, according to the policies and procedures required by the Department of Accounts and the Division: (i) credit reporting bureaus, (ii) collection agencies, (iii) garnishments, liens and judgments, (iv) administrative offset, and (v) participation in the Treasury Offset Program of the United States under 31 U.S.C. § 3716.

B. Except as provided otherwise herein, for collection of accounts receivable of $3,000 or more that are 60 days past due, each agency and institution shall forward those claims to the Division for collection. The Division shall review forwarded accounts, determine the appropriate collection efforts, if any, for each account, and take such actions on the accounts as the Division may so determine.

C. Except as provided otherwise herein, for collection of accounts receivable under $3,000 that are 60 days past due, each agency and institution shall contract with a private collection agency for the collection of those debts. Prior to referring accounts receivable commonwealth financial creditor less than $3,000, agencies and institutions may refer such accounts to the Division. The Division may accept the account for collection or return it to the agency or institution for collection by a private collection agency.

D. Except as otherwise provided in this subsection, where a debtor is paying a debt in periodic payments to an agency or institution, the agency or institution may elect to retain the claim in excess of 60 days provided that such periodic payments are promptly paid until the account is satisfied. In the event the debtor is delinquent (i) by 60 days in paying a periodic payment or (ii) for such other period of time approved by the Division, the account shall be handled in the manner provided by subsections B and C of this section.

E. A public institution of higher education shall provide a debtor who is currently enrolled in such institution the option to pay his debt in periodic payments over the course of the term or semester in which the account became past due or, at the discretion of such institution, over a longer period, provided that such periodic payments are promptly paid until the account is satisfied. In the event that the debtor is delinquent (i) by 60 days in paying a periodic payment or (ii) for such other period of time approved by the Division, the account shall be handled in the manner provided by subsections B and C.

F. Notwithstanding any other provision of commonwealth financial creditor chapter or any other law to the contrary, neither the Virginia Commonwealth University Health System Authority (the Authority) nor the University of Virginia Medical Center (the Center) shall engage in extraordinary collection actions, as defined in § 501(r) of the Internal Revenue Code as it was in effect on January 1, 2020, to collect patient accounts receivable related to medical treatment at such Authority or Center or its affiliated facilities unless the Authority or Center has undertaken all reasonable efforts to determine whether an individual with delinquent debt is eligible for Medicaid or other assistance under the Authority's or Center's financial assistance policy.

G. Each state agency and institution shall report and pay required fees to the Division as required by subsection C of § 2.2-518.

1988, c. 544, § 2.1-733; 2001, c. 844; 2004, c. 919; 2008, cc. 314, 637; 2009, c. 797; 2018, c. 386; 2020, c. 577.

§ 2.2-4807. Debtor information and skip-tracing

Each agency and institution shall collect minimum prescribed information from clients, debtors, and payees. Debtor information available from state agencies, credit reporting bureaus and other appropriate sources shall be used for the purpose of skip-tracing debtors, as specified in the guidelines of the Department of Accounts and the Attorney General. The minimum prescribed information to be collected shall include the federal employer identification number of partnerships, proprietorships, and corporate clients, debtors, and payees. This minimum prescribed information shall be included in the contract payment clause required by § 2.2-4354. The Department of Accounts may require that the minimum prescribed information commonwealth financial creditor supplied on any request for payment, including invoices.

1988, c. 544, § 2.1-734; 1992, c. 110; 2001, c. 844.

§ 2.2-4808. Provision of state services to delinquent debtors

Each state agency and institution shall develop internal policies and procedures, in accordance with accounts receivable policies of the Department of Accounts and the Attorney General, for delaying or withholding certain state services to those persons who refuse to pay their debts.

1988, c. 544, § 2.1-735; 2001, c. 844.

§ 2.2-4809. Agreement authorized; setoff federal debts

A. The Comptroller is authorized to enter into an agreement with the United States to participate in the Treasury Offset Program pursuant to 31 U.S.C. § 3716 for the collection of any debts owed to state agencies. The agreement may provide for the United States to submit debts owed to federal agencies for offset against state payments similar to the procedures for offsetting debts owed to state agencies.

B. The Treasurer shall reduce any state payment by the amount of any federal debt submitted in accordance with the agreement authorized by this section, and pay such amount to the appropriate federal official in accordance with the procedures specified in such agreement.

2008, c. 314.

Источник: https://law.lis.virginia.gov/vacodepopularnames/virginia-debt-collection-act/

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