Common use of Collection Agency Clause in Contracts

Collection Agency. If DU’s internal collection efforts have failed to induce me to pay the amount due on my Student Account, my Student Account will be sent to a collection agency and may be reported to one or more credit bureau reporting service(s). I explicitly authorize DU to release my personal and financial information under those circumstances. If DU is required to retain a collection agency, then, to the extent permitted by applicable law, I agree to reimburse DU all reasonable collection costs, including but not limited to attorney fees and expenses incurred by DU. I also acknowledge that collection agency fees may be based on a percentage (up to the maximum of 40% of the collected balance) and that all such fees will be added to my Student Account.

Collection Agency. If DU’s 's internal collection efforts have failed to induce me to pay the amount due on my Student Account, my Student Account will be sent to a collection agency and may be reported to one or more credit bureau reporting service(s). I explicitly authorize DU to release my personal and financial information under those circumstances. If DU is required to retain a collection agency, then, to the extent permitted by applicable law, I agree to reimburse DU all reasonable collection costs, including but not limited to attorney fees and expenses incurred by DU. I also acknowledge that collection agency fees may be based on a percentage (up to the maximum of 40% of the collected balance) and that all such fees will be added to my Student Account.