Code of Federal Regulations Title 7. Agriculture § 7.766.101 Initial Agency notification to borrower of loan servicing programs

(1) Have a current farm operating plan that demonstrates the borrower is financially distressed;

(2) Are 90 days or more past due on loan payments, even if the borrower has submitted an application for loan servicing as a financially distressed borrower;

(3) Are in non-monetary default on any loan agreements;

(4) Have filed bankruptcy;

(5) Request this information;

(6) Request voluntary conveyance of security;

(7) Have only delinquent SA;  or

(8) Are subject to any other collection action, except when such action is a result of failure to graduate. Borrowers who fail to graduate when required and are able to do so, will be accelerated without providing notification of loan servicing options.

(1) A borrower who is financially distressed, or current and requesting servicing will be provided FSA–2512;

(2) A borrower who is 90 days past due will be sent FSA–2510 (Appendix A to this subpart) or FSA–2510–IA (Appendix B to this subpart);

(3) A borrower who is in non-monetary or both monetary and non-monetary default will receive FSA–2514;

(4) A borrower who has only delinquent SA will be notified of available loan servicing;

(5) Notification to a borrower who files bankruptcy will be provided in accordance with subpart G of this part.

(1) Current or financially distressed may submit a complete application any time prior to becoming 90 days past due;

(2) Ninety (90) days past due must submit a complete application within 60 days from receipt of FSA–2510 or FSA–2510–IA;

(3) In non-monetary default with or without monetary default must submit a complete application within 60 days from receipt of FSA–2514.