12 CFR § 1073.307 - Voluntary repayment agreements as alternative to salary offset where the CFPB is the creditor agency.

---
identifier: "/us/cfr/t12/s1073.307"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1073.307 - Voluntary repayment agreements as alternative to salary offset where the CFPB is the creditor agency."
title_number: 12
title_name: "Banks and Banking"
section_number: "1073.307"
section_name: "Voluntary repayment agreements as alternative to salary offset where the CFPB is the creditor agency."
chapter_name: "CONSUMER FINANCIAL PROTECTION BUREAU"
part_number: "1073"
part_name: "PROCEDURES FOR BUREAU DEBT COLLECTION"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 5 U.S.C. 5514; 31 U.S.C. 3711,"
regulatory_source: "78 FR 41678, July 11, 2013, unless otherwise noted."
cfr_part: "1073"
---


# 1073.307 Voluntary repayment agreements as alternative to salary offset where the CFPB is the creditor agency.

(a) In response to a Notice of Intent, an employee may propose to voluntarily repay the debt through scheduled voluntary payments, in lieu of salary offset. An employee who wishes to repay a debt in this manner shall submit to the Bureau a written agreement proposing a repayment schedule. This proposal must be received by the Bureau within 30 calendar days following the date of the Notice of Intent.

(b) The Director shall notify the employee whether the employee's proposed voluntary repayment agreement is acceptable. It is within the discretion of the Director whether to accept or reject the debtor's proposal, or whether to propose to the debtor a modification of the proposed repayment agreement:

(1) If the Director decides that the proposed repayment agreement is unacceptable, he or she shall notify the employee and the employee shall have 30 calendar days from the date he or she received notice of the decision in which to file a request for a hearing on the proposed repayment agreement, as provided in § 1073.303; or

(2) If the Director decides that the proposed repayment agreement is acceptable or the debtor agrees to a modification proposed by the Director, the agreement shall be put in writing and signed by both the employee and the Director.