§ 105A-6.4. Installment agreements.

201 words·~1 min read·/nc/chapter-105a/105a-6-4

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The Secretary may enter into an agreement with the debtor for payment of the debt in installments if the Secretary determines that the agreement will facilitate collection of the debt. The Secretary may modify or terminate the agreement if one or more of the following findings is made:

(1)Information provided by the debtor in support of the agreement was inaccurate or incomplete.

(2)Collection of debt to which the agreement applies is in jeopardy.

(3)The debtor's financial condition has changed.

(4)The debtor has failed to pay an installment when due.

(5)The debtor has failed to provide information requested by the Secretary.

The Secretary must give a debtor who has entered into an installment agreement at least 30 days' written notice before modifying or terminating the agreement on the grounds that the debtor's financial condition has changed unless the debtor failed to disclose or concealed assets or income when the agreement was made or the debtor has acquired assets since the agreement was made that can satisfy all or part of the debt. A notice must specify the basis for the Secretary's finding of a change in the debtor's financial condition. (2025-83, s. 11(a).)