Common use of Collection Agency Fees Clause in Contracts

Collection Agency Fees. I understand and accept that if I fail to pay my student account bill or any monies due and owing WPI by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, WPI may refer my delinquent account to a collection agency. I further understand that if WPI refers my student account balance to a third party for collection, a collection fee will be assessed and will be due in full at the time of the referral to the third party. The collection fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 40% of the amount outstanding. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.

Collection Agency Fees. I understand and accept that if I fail to pay my student account bill xxxx or any monies due and owing WPI by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, WPI may refer my delinquent account to a collection agency. I further understand that if WPI refers my student account balance to a third party for collection, a collection fee will be assessed and will be due in full at the time of the referral to the third party. The collection fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 40% of the amount outstanding. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.

Collection Agency Fees. I understand and accept acknowledge that if I fail to pay my student account bill xxxx or any monies due and owing WPI by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, WPI may refer my delinquent account to a collection agency. I further understand that if WPI refers I am responsible for paying the collection agency fee, which may be based on a percentage at a maximum of 40 percent of my student account balance to a third party delinquent account, together with all costs and expenses, including reasonable attorney’s fees, necessary for collection, a the collection fee will be assessed and will be due in full at the time of the referral to the third party. The collection fee will be calculated at the maximum amount permitted by applicable law, but not to exceed 40% of the amount outstandingmy delinquent account. Finally, I understand that my delinquent account may be reported to one or more of the national credit bureaus.