[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR391.2]



[Page 525]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 391_WAIVER OF INTEREST, ADMINISTRATIVE COSTS, AND PENALTIES--Table of Contents

 

Sec.  391.2  Equitable considerations.



    For reasons of equity and good conscience, late charges may be 

waived under the circumstances identified in this section.

    (a) Where, without fault or bad faith, the debtor could not submit 

payment within 30 days of the interest accrual date, the mandatory 

waiver provision in 4 CFR 102.13(g) may be extended. Such waiver will be 

considered on a case-by-case basis. Examples include, but are not 

limited to:

    (1) Postal service delays in forwarding the notice of indebtedness 

to a new address; and

    (2) Late receipt of the notice of indebtedness where the debtor was 

away from home on an extended vacation or hospitalized.

    (b) Where an installment plan is contemplated and the amount of the 

late charges in relation to the amount of reasonably affordable 

installment payments is so large that the debt may never be paid, late 

charges may be waived.