[Code of Federal Regulations]
[Title 45, Volume 4]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 45CFR2506.12]

[Page 561]
 
                        TITLE 45--PUBLIC WELFARE
 
       CHAPTER XXV--CORPORATION FOR NATIONAL AND COMMUNITY SERVICE
 
PART 2506_COLLECTION OF DEBTS--Table of Contents
 
                      Subpart B_General Provisions.
 
Sec. 2506.12  Will the Corporation provide information to credit 
reporting agencies?

    (a) The Corporation will report certain delinquent debts to 
appropriate consumer credit reporting agencies by providing the 
following information:
    (1) A statement that the debt is valid and overdue;
    (2) The name, address, taxpayer identification number, and any other 
information necessary to establish the identity of the debtor;
    (3) The amount, status, and history of the debt; and
    (4) The program or pertinent activity under which the debt arose.
    (b) Before disclosing debt information to a credit reporting agency, 
the Corporation:
    (1) Takes reasonable action to locate the debtor if a current 
address is not available;
    (2) Provides the notice required under Sec. 2506.14(a) if a current 
address is available; and
    (3) Obtains satisfactory assurances from the credit reporting agency 
that it complies with the Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) and other Federal laws governing the provision of credit 
information.
    (c) At the time debt information is submitted to a credit reporting 
agency, the Corporation provides a written statement to the reporting 
agency that all required actions have been taken. In addition, the 
Corporation thereafter ensures that the credit reporting agency is 
promptly informed of any substantive change in the conditions or amount 
of the debt, and promptly verifies or corrects information relevant to 
the debt.
    (d) If a debtor disputes the validity of the debt, the credit 
reporting agency refers the matter to the appropriate Corporation 
official. The credit reporting agency excludes the debt from its reports 
until the Corporation certifies in writing that the debt is valid.
    (e) The Corporation may disclose to a commercial credit bureau 
information concerning a commercial debt, including the following:
    (1) Information necessary to establish the name, address, and 
employer identification number of the commercial debtor;
    (2) The amount, status, and history of the debt; and
    (3) The program or pertinent activity under which the debt arose.