Sec.  1.1914   Collection in installments.

   (a) Subject to the Commission's rules pertaining to the installment loan
   program ( see e.g. , 47 CFR  Sec. 1.2110(g)), subpart Q or other agreements among
   the  parties,  the terms of which will control, whenever feasible, the
   Commission shall collect the total amount of a debt in one lump sum. If a
   debtor is financially unable to pay a debt in one lump sum, the Commission,
   in its sole discretion, may accept payment in regular installments. The
   Commission will obtain financial statements from debtors who represent that
   they  are  unable  to pay in one lump sum and which are able to verify
   independently such representations ( see 31 CFR 902.2(g)). The Commission
   will require and obtain a legally enforceable written agreement from the
   debtor that specifies all of the terms of the arrangement, including, as
   appropriate, sureties and other indicia of creditworthiness ( see Federal
   Credit Reform Act of 1990, 2 U.S.C. 661, et seq. , OMB Circular A–129), and
   that contains a provision accelerating the debt in the event of default.

   (b) The size and frequency of installment payments should bear a reasonable
   relation  to  the size of the debt and the debtor's ability to pay. If
   possible, the installment payments will be sufficient in size and frequency
   to liquidate the debt in three years or less.

   (c) Security for deferred payments will be obtained in appropriate cases.
   The Commission may accept installment payments notwithstanding the refusal
   of the debtor to execute a written agreement or to give security, at the
   Commission's option.

   (d) The Commission may deny the extension of credit to any debtor who fails
   to provide the records requested or fails to show an ability to pay the
   debt.