12 C.F.R. § 1704.51 Definitions.
Title 12 - Banks and Banking
(a)(1) Debt means money owed by an individual, organization, or entity from sources which include loans insured or guaranteed by the Federal Government and all other amounts due the Federal Government from fees, leases, services, overpayments, civil and criminal penalties, damages, interest, fines, administrative costs, and all other similar sources. (2) A debt becomes eligible for tax refund offset procedures if: (i) It cannot currently be collected pursuant to the salary offset procedures of 5 U.S.C. 5514(a)(1); (ii) The debt is ineligible for administrative offset under 31 U.S.C. 3716(a) by reason of 31 U.S.C. 3716(c)(2), or it cannot be collected currently by administrative offset under 31 U.S.C. 3716(a); and (iii) The requirements of this section are otherwise satisfied. (3) All judgment debts are past due for purposes of this subpart D. Judgment debts remain past due until paid in full. (b) Dispute means a written statement supported by documentation or other evidence that all or part of an alleged debt is not past due or legally enforceable, that the amount is not the amount currently owed, that the outstanding debt has been satisfied, or in the case of a debt reduced to judgment, that the judgement has been satisfied or stayed. (c) Notice means the information sent to the debtor pursuant to §1704.53. The date of the notice is that date shown on the notice letter as its date of issuance. [64 FR 34969, June 30, 1999. Redesignated and amended at 65 FR 81328, Dec. 26, 2000]
Title 12: Banks and Banking
PART 1704—DEBT COLLECTION
Subpart D—Tax Refund Offset
§ 1704.51 Definitions.
