§ 204.8. Written agreement for repayment.
181 words·~1 min read·
/us/cfr/t17/s§ 204.8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the debtor requests a repayment agreement in place of offset, the Commission has discretion to determine whether to accept a repayment agreement in place of offset. If the debt is delinquent and the debtor has not disputed its existence or amount, the Commission will not accept a repayment agreement in place of offset unless the debtor is able to establish that offset would cause undue financial hardship or be unjust. No repayment arrangement will be considered unless the debtor submits a financial statement, executed under penalty of perjury, reflecting the debtor's assets, liabilities, income, and expenses.
The financial statement must be submitted within ten business days of the Commission's request for the statement. At the Commission's option, a confess-judgment note or bond of indemnity with surety may be required for installment agreements. Notwithstanding the provisions of this section, any reduction or compromise of a claim will be governed by the Debt Collection Act, 31 U.S.C. 3711-3720E, and the Federal Claims Collection Standards, 31 CFR 900.1-904.4. \[58 FR 64370, Dec. 7, 1993, as amended at 66 FR 54131, Oct. 26, 2001\]
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- 31 USC 3711-3720E
- 31 CFR 900.1-904
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§ 204.8
Written agreement for repayment.
Cite31 USC 3711-3720E
Cite31 CFR 900.1-904
Cites 2Cited by 0 across 0 sources