[Code of Federal Regulations]

[Title 44, Volume 1]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 44CFR11.47]



[Page 122]

 

              TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE

 

 CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND 

                                SECURITY

 

PART 11_CLAIMS--Table of Contents

 

     Subpart C_Collection of Debts by the Government Under the Debt 

                         Collection Act of 1982

 

Sec.  11.47  Collection in installments.



    Debts with accrued interest and penalties should be collected in 

full in one lump sum whenever this is possible. However, if the debtor 

is financially unable to pay the indebtedness in one lump sum, payment 

with applicable interest may be accepted in regular installments in 

accordance with a written agreement approved by the ACO or his designee. 

If possible, installment payments shall be sufficiently large to 

complete collection in the three years. Installment payments should not 

be less than $50.00 per month unless there are most unusual 

circumstances. The Agency may require the debtor to execute a confess-

judgment, negotiable note for the amount of the indebtedness. The ACO or 

DCO may require the debtor to provide a statement as to financial 

condition.