7 CFR §761.405

1. (a)A borrower requesting debt settlement must submit complete and accurate information from which the Agency can make a full determination of the borrower's financial circumstances and repayment ability. Except for the situations listed in § 761.404(b), each liable party, must submit the following:
   1. (1)One completed original debt settlement application on the applicable Agency form signed by all parties liable for the debt;
   2. (2)A current financial statement;
   3. (3)A cash flow projection for the next production or earnings period;
   4. (4)Verification of employment or other earned income, including verification of a nondebtor spouse's income which will be included as available to pay family living expenses;
   5. (5)Verification of assets including, but not limited to, cash, checking accounts, savings accounts, certificates of deposit, individual retirement accounts, retirement and pension funds, mutual funds, stocks, bonds, and accounts receivable;
   6. (6)Verification of debts exceeding an amount determined by the Agency;
   7. (7)Copies of complete Federal income tax returns for the previous 3 years; and
   8. (8)Any other items requested by the Agency to evaluate the debtor's financial condition.
2. (b)[Reserved]