[Code of Federal Regulations]
[Title 5, Volume 1]
[Revised as of January 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR179.306]

[Page 39]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
                CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT
 
PART 179_CLAIMS COLLECTION STANDARDS--Table of Contents
 
                     Subpart C_Administrative Offset
 
Sec. 179.306  Written agreement for repayment.

    A debtor who admits liability but elects not to have the debt 
collected by administrative offset will be afforded an opportunity to 
negotiate a written agreement for the repayment of the debt. If the 
financial condition of the debtor does not support the ability to pay in 
one lump-sum, reasonable installments may be considered. No installment 
arrangement will be considered unless the debtor submits a financial 
statement, executed under penalty of perjury, reflecting the debtor's 
assets, liabilities, income, and expenses. The financial statement must 
be submitted within 10 business days of OPM's request for the statement. 
At OPM's option, a confess-judgment note or bond of indemnity with 
surety may be required for the installment agreement. Notwithstanding 
the provisions of this section, any reduction or compromise of a claim 
will be governed by 4 CFR part 103 and 31 U.S.C. 3711.