10 CFR 15.55 – Reasons for terminating collection action
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The NRC may terminate collection activity when:
Terms Used In 10 CFR 15.55
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
(a) The NRC is unable to collect any substantial amount through its own efforts or through the efforts of others;
(b) The NRC is unable to locate the debtor;
(c) Costs of collection are anticipated to exceed the amount recoverable,
(d) The debt is legally without merit or enforcement of the debt is barred by any applicable statute of limitations;
(e) The debt cannot be substantiated; or
(f) The debt against the debtor has been discharged in bankruptcy.