Current as of: 2009 In the event a borrower defaults under the terms of a plan, the bank may, if the borrower's account is referred to an attorney (not a regularly salaried employee of the bank) or to a third party for collection and if the agreement governing the revolving credit plan so provides, charge and collect from the borrower a reasonable attorney's fee. In addition, following a borrower's default, the bank may, if the agreement governing the plan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs, including, without limitation, fees and charges of collection agencies, actually incurred by the bank. ________________________________________________________________________
New Hampshire Laws: Consumer Credit GenerallyU.S. Code Provisions: Consumer Credit GenerallyFederal Regulations: Consumer Credit Generally
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