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Code · CFR · Title 12 — Banks and Banking · Part 797 — Procedures for Debt Collection · § 797.16

§ 797.16. Stay of offset.

98 words·~1 min read·/us/cfr/t12/s§ 797.16·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)When a creditor agency receives a debtor's request for inspection of agency records, the offset is stayed for 15 calendar days beyond the date set for the record inspection.
(b)When a creditor agency receives a debtor's offer to enter into a repayment agreement, the offset is stayed until the debtor is notified as to whether the proposed agreement is acceptable.
(c)When a review is conducted, the offset is stayed until the creditor agency issues a final written decision. The written decision must be issued within 60 days after receipt of the debtor's request for review.
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