[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1639.6]

[Page 248]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1639_CLAIMS COLLECTION--Table of Contents
 
   Subpart A_Administrative Collection, Compromise, Termination, and 
                           Referral of Claims
 
Sec.  1639.6  Contracting for collection services.

    The Board will use the services of a private collection contractor 
where it determines that such use is in the best interest of the Board. 
When the Board determines that there is a need to contract for 
collection services, it will--
    (a) Retain sole authority to:
    (1) Resolve any dispute by the debtor regarding the validity of the 
debt;
    (2) Compromise the debt;
    (3) Suspend or terminate collection action;
    (4) Refer the debt to the Department of Justice for litigation; and
    (5) Take any other action under this part which does not result in 
full collection of the debt;
    (b) Require the contractor to comply with the Privacy Act of 1974, 
as amended, to the extent specified in 5 U.S.C. 552a(m), with applicable 
Federal and State laws pertaining to debt collection practices (e.g., 
the Fair Debt Collection Practices Act (15 U.S.C. 1692 et seq.)), and 
with applicable regulations of the Board;
    (c) Require the contractor to account accurately and fully for all 
amounts collected; and
    (d) Require the contractor to provide to the Board, upon request, 
all data and reports contained in its files relating to its collection 
actions on a debt.