An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.

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Amendment Number
831
Description
An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.
Purpose
An amendment permitting borrowers who are owed money from third parties that are involved in liquidation procedures under the Bankruptcy Act, to defer the payment of their loans (principle and interest) for a period of time to permit the third party to make payments under the Bankruptcy procedures. The Secretary must determine that the estate of the third party is "likely" to have sufficient assests to reimburse the borrower requesting the deferral on his loan.
Congress
97
Type
HAMDT
Latest Action Date
Sep 9, 1982
Latest Action Text
Amendment Passed in Committee of the Whole by Voice Vote.
Submitted Date
Sep 9, 1982
Chamber
House of Representatives
Update Date
Aug 14, 2021
Amendment 831 — Informed