(1) Upon default in payment of any account receivable that is not due pursuant to final court or administrative order or judgment, the entity responsible for collecting the account shall send a notice by mail to the debtor at the debtor's last-known address.
(2) The notice shall state:
(a) the date and amount of the receivable;
(b) a demand for immediate payment of the amount;
(c) a statement of the right of the debtor to file a written response to the notice, to have a hearing, to be represented at the hearing, and to appeal any decision of the hearing examiner;
(d) the time within which a written response must be filed; and
(e) a statement notifying the debtor that the state may obtain an order under this part and execute upon income tax overpayments or refunds of the debtor if:
(i) the debtor fails to respond to the notice; or
(ii) a hearing is held and the hearing officer decides against the debtor.