Eligibility requirements.

CFR · 2024-01-01 · US · Title 7

To be eligible, applicants must meet the following requirements: (a) (b) (c) (d) (e) (f) (g) (h) (1) If an applicant does not meet the repayment ability requirements, the applicant can have another party join the application as a cosigner. (2) If an applicant does not meet the repayment ability requirements, the applicant can have other household members join the application. (i) (1) Indicators of unacceptable credit include: (i) Payments on any account where the amount of the delinquency exceeded one installment for more than 30 days within the last 12 months. (ii) Payments on any account which was delinquent for more than 30 days on two or more occasions within a 12-month period. (iii) Loss of security due to a foreclosure if the foreclosure has been completed within the last 36 months. (iv) An outstanding Internal Revenue Service tax lien or any other outstanding tax liens with no satisfactory arrangement for payment. (v) A court-created or court-affirmed obligation or judgment caused by nonpayment that is currently outstanding or has been outstanding within the last 12 months, except for those excluded by paragraphs (i)(2)(i) and (i)(2)(ii) of this section. (vi) Outstanding collection accounts with a record of irregular payment with no satisfactory arrangements for repayment, or collection accounts that were paid in full within the last 6 months. (vii) Non-agency debts written off within the last 36 months or paid in full at least 12 months ago. (viii) Agency debts that w

official document · source cfr-2024 · id 7:§ 3550.103