Demand for payment.

CFR · 2024-01-01 · US · Title 12

(a) A total of three progressively stronger written demands at not more than 30-day intervals should normally be made upon a debtor, unless a response or other information indicates that additional written demands would either be unnecessary or futile. When necessary to protect the Government's interest, written demands may be preceded by other appropriate actions under Federal law, including immediate referral for litigation and/or administrative offset. (b) The initial demand for payment shall be in writing and shall inform the debtor of the following: (1) The amount of the debt, the date it was incurred, and the facts upon which the determination of indebtedness was made; (2) The payment due date, which shall be 30 calendar days from the date of mailing or hand delivery of the initial demand for payment; (3) The right of the debtor to inspect and copy the records of the agency related to the claim or to receive copies if personal inspection is impractical. The debtor shall be informed that the debtor may be assessed for the cost of copying the documents in accordance with § 1408.7; (4) The right of the debtor to obtain a review of the Corporation's determination of indebtedness; (5) The right of the debtor to offer to enter into a written agreement with the agency to repay the amount of the claim. The debtor shall be informed that the acceptance of such an agreement is discretionary with the agency; (6) That charges for interest, penalties, and administrative costs will be

official document · source cfr-2024 · id 12:§ 1408.6