Massachusetts General Laws ch. 62D sec. 9 – Notice to debtor of finalization of set-off; disbursement of outstanding balance due
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Section 9. Upon transfer of the debt due and owing from the escrow account, established pursuant to section five, to the credit of the debtor’s account, the claimant agency shall notify the debtor in writing of the finalization of the set-off. Such notice shall include the amount of the refund transferred to the claimant agency, the amount of the set-off, the amount of the refund, if any, returned to the nondebtor spouse, and the amount of any outstanding balance, if any, due to the debtor after the set-off. The claimant agency shall disburse any such outstanding balance due to the debtor.
Terms Used In Massachusetts General Laws ch. 62D sec. 9
- Escrow: Money given to a third party to be held for payment until certain conditions are met.