Debt restructuring—hospitals and health care facilities.

CFR · 2024-01-01 · US · Title 7

This section pertains exclusively to delinquent Community Facility hospital and health care facility loans. Those facilities which are nonprogram (NP) loans as defined in § 1951.203 (f) of subpart E of part 1951 of this chapter are excluded. The purpose of debt restructuring is to keep the hospital or health care facility in operation with manageable debt. (a) (b) (1) Any introductory paragraph; (2) A paragraph concerning prior servicing attempts; (3) A discussion of eligibility, as defined in this section, including the provision that the debtor acted in good faith in connection with their Rural Development loan and that the delinquency was caused by circumstances beyond their control; (4) Two paragraphs that explain the goal of the debt restructuring program; (5) A paragraph stating that debt restructuring may include a combination of servicing actions listed in paragraph (a) of this section; (6) Information that details what the debtor must do to apply for restructuring. A response must be received within 45 days of receipt of this letter (7) A discussion of Rural Development's analysis and calculation process; and (8) A paragraph identifying the Rural Development official who may be contacted for assistance. (c) (1) Within 15 days of receipt of debtor's request, if an operations review is deemed necessary, send a memorandum to the Administrator asking for program authority to contract for the review in accordance with Exhibit D of Rural Development Instruction 2024-A (ava

official document · source cfr-2024 · id 7:§ 1956.143