Description
Camden County College is seeking a qualified collection agency to handle first‑placement collection of student delinquent accounts. The contract will run for nearly two years, with the agency responsible for managing 400‑700 accounts annually, valued at roughly $500‑$800 k, and receiving a percentage‑based fee on amounts collected. The vendor must have at least five years of experience specifically with student debt, possess a recent clean‑opinion audit (SOC 2 not acceptable), and hold the New Jersey Department of Treasury collection agency bond. Proposals must be submitted in sealed, wet‑ink format by the extended deadline, and the college may award multiple agencies based on collection stage.
• Required experience: ≥5 years collecting student accounts‑receivable debt.
• Estimated volume: 400‑700 accounts per year, $500‑$800 k total.
• Fee structure: Percentage of collected amounts; no alternative fee models permitted.
• Mandatory documentation: Audit report, bond proof, employee certificate, and specific NJ forms.
• Contract term: 2 Sept 2026 – 30 Jun 2028 (≈22 months).