Termed Employee

[Guest Jspitler]

Our tuition plan requires employees to stay employed with our company 2 years after they receive reimbursement. We also require them to sign a promissory note.

Unfortunately, we have had quite a few people leave before the expiration of their promissory note. Any suggestions on how to collect? Collection agency, court orders?

[chris]

Find an attorney that handles collections. The note should provide for attorney's fees if there's a default in payment and collection action must be taken. Typically, notes will also provide for a higher interest rate after default.