7 CFR 1956-C, Debt Settlement
-- Community and Business Programs
Revision of a currently approved collection
No
Regular
09/28/2022
Requested
Previously Approved
36 Months From Approved
12/31/2022
205
163
1,265
1,005
0
0
The purpose of the debt settlement
function is to provide the delinquent client with an equitable tool
for the compromise, adjustment, cancellation or charge-off of a
debt owed to the Agency. Failure to collect information could
result in improper servicing of these loans.
This submission includes an
adjustment in the number of responses and burden hours for Rural
Business-Cooperative Service (RBCS). During the time used to
estimate the burden hours, RBCS had less applicants in 1951-C than
in previous years, due to the lack of B&I direct loan funding
and servicing need for other intermediary loan programs. As a
result, the number of burden hours for RBCS was decreased from 928
to 415, and the number of responses was decreased from 97 to 89.
The Community Facilities (CF) program is reporting an increase in
the number of responses and burden hour. This increase is due to
the program’s efforts to undertaking the resolution of longtime
delinquencies from its portfolio. To accomplish this task, 4 Asset
Risk Managers were dispensed to work with State Office staff to
review and resolve accounts that had been delinquent for several
years. This effort resulted in the increased number of CF responses
from 46 to 116, and the number of burden hours from 62 to 850. The
overall combined number of responses reported for RBCS, and CF
include the estimated 2 hours it takes an applicant to gather the
information and input it in SAMs which resulted in a combined total
of 205 responses, and 1,265 burden hours.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.