Notice requirements before salary offset where FHFA is the creditor agency.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) That FHFA has reviewed the records relating to the claim and has determined that the employee owes the debt; (2) That FHFA intends to collect the debt by deductions from the employee's current disposable pay account; (3) The amount of the debt and the facts giving rise to the debt; (4) The frequency and amount of the intended deduction (stated as a fixed dollar amount or as a percentage of pay not to exceed 15 percent of disposable pay), and the intention to continue the deductions until the debt and (5) The name, address, and telephone number of the person to whom the employee may propose a written alternative schedule for voluntary repayment, in lieu of salary offset. The employee shall include a justification for the alternative schedule in his or her proposal. If the terms of the alternative schedule are agreed upon by the employee and FHFA, the alternative written schedule shall be signed by both the employee and FHFA; (6) An explanation of FHFA's policy concerning interest, penalties, and administrative costs, the date by which payment should be made to avoid such costs, and a statement that such assessments must be made unless excused in accordance with the FCCS; (7) The employee's right to inspect and copy all records of FHFA pertaining to his or her debt that are not exempt from disclosure or to receive copies of such records if he or she is unable personally to inspect the records as the result of geographical or other constraints; (8) The name, address,

official document · source cfr-2024 · id 12:§ 1208.21