§ 391.4. Documentary evidence.
84 words·~1 min read·
/us/cfr/t31/s§ 391.4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)When late charges are waived, the debtor's administrative file shall be properly documented with a memorandum. The memorandum shall contain a brief narrative statement describing the circumstances leading to the waiver and the reason(s) for granting the waiver.
(b)A credit report or a financial statement sworn to by the debtor may be required before waiver of late charges is approved for a compromise, suspension, or termination, except where the cost of obtaining such a report or statement exceeds the late charges due.