Common use of Collection Agency Clause in Contracts

Collection Agency. I understand and accept that if I fail to pay my student account ▇▇▇▇ or any monies due and owing MSU Denver by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, MSU Denver may refer my delinquent account to a collection agency. I further understand that I am responsible for paying the collection agency fees which may be based on a percentage at a maximum of 40% of my delinquent account, together with all costs and expenses, including reasonable attorney’s fees, necessary for the collection of my delinquent account.

Collection Agency. I understand and accept that if I fail to pay my student account ▇▇▇▇ ▇, or any monies due and owing MSU Denver by the scheduled due date, and fail to make acceptable payment arrangements to bring my account current, MSU Denver may refer my delinquent account to a collection agency. I further understand that I am responsible for paying the collection agency fees which may be based on a percentage at a maximum of 40% of my delinquent account, together with all costs and expenses, including reasonable attorney’s fees, necessary for the collection of my delinquent account.