22 CFR 1506.46 – When is USADF not required to transfer a debt to BFS?
Current as of: 2024 | Check for updates
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USADF is not required to transfer a debt to BFS pursuant to § 1506.37(b) during the period of time that the debt:
Terms Used In 22 CFR 1506.46
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
(a) Is in litigation or foreclosure;
(b) Is scheduled for sale;
(c) Is at a private collection contractor;
(d) Is at a debt collection center if the debt has been referred to a Treasury-designated debt collection center;
(e) Is being collected by internal offset; or
(f) Is covered by an exemption granted by Treasury.