(a) For the purposes of this chapter, a loan is in default after a loan payment has become 180 or more days past due or, for a loan under Alaska Stat. § 14.43.161 – 14.43.168 or 14.43.170 – 14.43.175, the default requirements established by the commission have been met. Upon default,

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Terms Used In Alaska Statutes 14.43.145

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Forbearance: A means of handling a delinquent loan. A
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • writing: includes printing. See Alaska Statutes 01.10.060
(1) repayment of the remaining balance is accelerated and due;
(2) the commission may take the borrower’s permanent fund dividend under Alaska Stat. § 43.23.160;
(3) the commission may issue an order to withhold and deliver under Alaska Stat. § 14.43.147;
(4)[Repealed, Sec. 34 ch 23 SLA 2018.]
(5) the commission may record the lien created under Alaska Stat. § 14.43.149; and
(6) the commission may establish an administrative collection order under Alaska Stat. § 14.43.151 – 14.43.155.
(b) The commission shall notify the borrower of the default, and the consequences of default imposed under (a) of this section, by mailing a notice to the borrower’s most recent address provided to the commission by the borrower or obtained by the commission.
(c) A borrower may appeal a notice of default by filing a statement with the executive director, within 30 days after the date of the notice, requesting that the loan status be reviewed. Alaska Stat. Chapter 44.62 (Administrative Procedure Act) does not apply to the review of default under this section. The borrower has the burden to show that, at the time of the notice of default, (1) no loan payment was more than 180 days past due or, for a loan under Alaska Stat. § 14.43.161 – 14.43.168 or 14.43.170 – 14.43.175, the default requirements established by the commission had not yet been met; or (2) that the borrower entered into, and was in compliance with, a default forbearance agreement with the commission. Within 40 days after receiving a written request for review, the director shall inform the borrower in writing of the executive director’s decision. The decision of the executive director is a final decision that may be appealed to the superior court under the Alaska Rules of Appellate Procedure.
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