[Code of Federal Regulations] [Title 29, Volume 4] [Revised as of July 1, 2008] From the U.S. Government Printing Office via GPO Access [CITE: 29CFR1650.306] [Page 411] TITLE 29--LABOR CHAPTER XIV--EQUAL EMPLOYMENT OPPORTUNITY COMMISSION PART 1650_DEBT COLLECTION--Table of Contents Subpart C_Procedures for Collection of Debts by Administrative Offset Sec. 1650.306 Written repayment agreement. A debtor may request an opportunity to negotiate a written agreement for the repayment of the debt. If the financial position of the debtor does not support the ability to pay in one lump-sum, reasonable installments may be considered. No installment arrangement will be considered unless the debtor submits a financial statement, executed under penalty of perjury, reflecting the debtor's assets, liabilities, income, and expenses. The financial statement must be submitted within 10 business days of the Commission's request for the statement. At the Commission's option, a confess-judgment note or bond of indemnity with surety may be required for the installment agreement. Notwithstanding the provisions of this section, any reduction or compromise of a claim will be governed by 4 CFR part 103 and 31 U.S.C. 3711.