The purpose of this RFP to provide collection agency services on an as needed basis. A list of preferred respondents was established to ensure that IPHEC has experienced firms to provide collection agency services for the area of expertise of each awardee.
Awardees met the following required services in their response to proposal:
1) Must have a minimum of five (5) years of experience as a licensed collection agency.
a) Respondents should submit a list of applicable licenses, including proof of required licensure.
2) Must be a licensed collection agency in the State of Illinois.
3) Compliant with all local, state and federal laws. These include but are not limited to; Fair Debt Collection Practices Act, Illinois Collection Agency Act (225 ILCS 425), Consumer Fraud and Deceptive Business Practices Act (815 ILCS 505),
Uniform Deceptive Trade Practices Act (815 ILCS 510), Telephone Consumer Protection Act (47 U.S.C. § 227), and the European Union General Data Protection Regulations (GDPR), as applicable.
4) Must have a minimum of five (5) years of experience in the collection and litigation procedures, if applicable, for campus-based student loans, i.e. NDSL/Perkins, Health Professional, Nursing Student Loans & Institutional Loans.
5) Must currently perform collection services for higher education institutions of similar or greater size.
6) Must provide the participating University(ies) on-line access to respondent’s system.
7) Must be able to transmit payments via ACH, checks, or other electronic means on an established frequency.
8) Must be able to provide the following on-going both electronically via secure website and/or email, and hard copy:
a) Payment Invoices
b) Close-Out Reports
c) Administrative Reports
d) Litigation Reports
e) Statement of Account Reports
f) Status Reports
g) Change of address Reports
h) List of all active accounts
i) Ad Hoc Reporting
j) Placement Analysis Report
9) Accept auto placement from University’s current loan and/or receivables servicers.
10) Assist the University respond to any complaint filed with the Illinois Attorney General, the U.S. Department of Education, or other responsible government agency.
Each Awardee has provided a Program Plan to support their proposal. Their program plan describes the programs, assumptions, commitments, and expectations in providing the services IPHEC requires. This program plan along with the Awardee's experience, background, staffing, and other applicable company information is included in their individual Request for Proposal response.