§ 34.30. Application of payments and accrual of interest.
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/us/cfr/t34/s§ 34.30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
We apply payments received through a garnishment in the following order---
(a)To costs incurred to collect the debt;
(b)To interest accrued on the debt at the rate established by---
(1)The terms of the obligation under which it arises; or
(2)Applicable law; and
(c)To outstanding principal of the debt. (Authority: 31 U.S.C. 3720D)
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- 31 USC 3720D
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§ 34.30
Application of payments and accrual of interest.
Cite31 USC 3720D
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