---
kind: "section"
citation: "7 C.F.R. § 771.15"
title: "7"
number: "771.15"
heading: "Loan servicing."
url: "https://uscodex.org/cfr/7/771.15"
---

# §771.15. Loan servicing.

- (a) **Advances.** FSA may make advances to protect its financial interests and charge the borrower's account for the amount of any such advances.
- (b) **Payments.** Payments will be made to FSA as set forth in loan agreements and debt instruments. The funds from extra payments will be applied entirely to loan principal.
- (c) **Restructuring.** The provisions of [7 CFR part 766](/cfr/7/part766.md) are not applicable to loans made under this section. However, FSA may restructure loan debts; provided:
  - (1) The Government's interest will be protected;
  - (2) The restructuring will be performed within FSA budgetary restrictions; and
  - (3) **The loan objectives cannot be met unless the loan is restructured.**
- (d) **Default.** In the event of default, FSA will take all appropriate actions to protect its interest.

## Notes

### Amendments

[67 FR 59771, Sept. 24, 2002, as amended at 72 FR 64121, Nov. 15, 2007]

### Authority

Authority: 5 U.S.C. 301; 7 U.S.C. 1989; and Pub. L. 104-180, 110 Stat. 1569.

### Source

Source: 67 FR 59771, Sept. 24, 2002, unless otherwise noted.

### Amendments

[67 FR 59771, Sept. 24, 2002, as amended at 72 FR 64121, Nov. 15, 2007]