Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 29 - Labor |
Subtitle A - Office of the Secretary of Labor |
Part 20 - Federal Claims Collection |
Subpart C - Interest, Penalties and Administrative Costs |
§ 20.60 - Application of partial payments to amounts owed.
Latest version.
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§ 20.60 Application of partial payments to amounts owed.
When a debt is paid in partial or installment payments, amounts received by the responsible agency should be applied first to outstanding penalty and administrative cost charges, second to accrued interest, and third to outstanding principal.