§1639.6. Contracting for collection services.
5 C.F.R. § 1639.6
The Board will use the services of a private collection contractor where it determines that such use is in the best interest of the Board. When the Board determines that there is a need to contract for collection services, it will—
Retain sole authority to—
Resolve any dispute by the debtor regarding the validity of the debt;
Compromise the debt;
Suspend or terminate collection action;
Refer the debt to the Department of Justice for litigation; and
Take any other action under this part which does not result in full collection of the debt;
Require the contractor to comply with the Privacy Act of 1974, as amended, to the extent specified in 5 U.S.C. 552a(m), with applicable Federal and State laws pertaining to debt collection practices (e.g., the Fair Debt Collection Practices Act (15 U.S.C. 1692 et seq.)), and with applicable regulations of the Board;
Require the contractor to account accurately and fully for all amounts collected; and
Require the contractor to provide to the Board, upon request, all data and reports contained in its files relating to its collection actions on a debt.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 8474 and 31 U.S.C. 3711, 3716, 3720A, and 3720D.
Source
Source: 62 FR 49417, Sept. 22, 1997, unless otherwise noted.