[Code of Federal Regulations]
[Title 12, Volume 6]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR608.805]

[Page 35]
 
                       TITLE 12--BANKS AND BANKING
 
                 CHAPTER VI--FARM CREDIT ADMINISTRATION
 
PART 608_COLLECTION OF CLAIMS OWED THE UNITED STATES--Table of Contents
 
              Subpart A_Administrative Collection of Claims
 
Sec. 608.805  Responsibility for collection.

    (a) The collection of claims shall be aggressively pursued in 
accordance with the provisions of the Federal Claims Collection Act of 
1966, as amended, the joint regulations issued under that Act, and these 
regulations. Debts owed to the United States, together with charges for 
interest, penalties, and administrative costs, should be collected in 
one lump sum unless otherwise provided by law. If a debtor requests 
installment payments, the debtor, as requested by the FCA, shall provide 
sufficient information to demonstrate that the debtor is unable to pay 
the debt in one lump sum. When appropriate, the FCA shall arrange an 
installment payment schedule. Claims which cannot be collected directly 
or by administrative offset shall be either written off as 
administratively uncollectible or referred to the General Counsel for 
further consideration.
    (b) The Chairman, or designee of the Chairman, may compromise claims 
for money or property arising out of the activities of the FCA, where 
the claim (exclusive of charges for interest, penalties, and 
administrative costs) does not exceed $100,000. When the claim exceeds 
$100,000 (exclusive of charges for interest, penalties, and 
administrative costs), the authority to accept a compromise rests solely 
with the Department of Justice. The standards governing the compromise 
of claims are set forth in 4 CFR part 103.
    (c) The Chairman, or designee of the Chairman, may suspend or 
terminate the collection of claims which do not exceed $100,000 
(exclusive of charges for interest, penalties, and administrative costs) 
after deducting the amount of any partial payments or collections. If, 
after deducting the amount of any partial payments or collections, a 
claim exceeds $100,000 (exclusive of charges for interest, penalties, 
and administrative costs), the authority to suspend or terminate rests 
solely with the Department of Justice. The standards governing the 
suspension or termination of claim collections are set forth in 4 CFR 
part 104.
    (d) The FCA shall refer claims to the Department of Justice for 
litigation or to the General Accounting Office (GAO) for claims arising 
from audit exceptions taken by the GAO to payments made by the FCA in 
accordance with 4 CFR part 105.