§ 13.26. Payment of compromised claims.
68 words·~1 min read·
/us/cfr/t40/s§ 13.26·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Administrator normally will not approve a debtor's request to pay a compromised claim in installments. However, where the Administrator determines that payment of a compromise by installments is necessary to effect collection, a debtor's request to pay in installments may be approved. Normally, where installment repayment is approved, the debtor will be required to execute a confess-judgment agreement which accelerates payment of the balance due upon default.