Common use of Returned Check Fee Clause in Contracts

Returned Check Fee. A returned check fee will be added to your student account for any check returned by your financial institution. The College reserves the right to pursue all legal remedies available to collect on a returned check.  Collection Fees – Collection fees will be charged on the unpaid balance of your student account, including internal collection fees of no more than 40% of the unpaid balance, after internal collection efforts have failed to encourage you to pay your account or enter into a payment agreement. Your student account will be sent to a collection agency and you may be reported to one or more credit bureau reporting service(s). To the extent permitted by law, you agree to pay all costs, fees and disbursements, including collection fees and reasonable attorney’s fees, incurred by the College in legal proceedings to collect or enforce your indebtedness.