§ 340.15. Suspension or termination of collection action.
114 words·~1 min read·
/us/cfr/t20/s§ 340.15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Collection action on a Board claim may be suspended or terminated under the following conditions:
(a)Collection action on a Board claim may be suspended temporarily when the debtor cannot be located and there is reason to believe future collection action may be productive or collection may be effected by offset in the near future.
(b)Collection action may be terminated when:
(1)The debtor is unable to make any substantial payment;
(2)The debtor cannot be located and offset is too remote to justify retention of the claim;
(3)The cost of collection action will exceed the amount recoverable;
(4)The claim is legally without merit or cannot be substantiated by the evidence.