If a balance remains following the conclusion of the current semester, the account is considered delinquent and the University will transfer the student account to delinquent status. An attempt will be made to collect the amount due or make appropriate payment arrangements. Payment arrangements will require a new promissory note to be signed and all payments to be made by automatic monthly bank debit. If a student has not made payment arrangements after the above delinquency procedures, the account will be placed with a collection agency and reported to the credit bureau.