[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.