debt forgiveness
Defined in 1 place of the United States Code.
Except as provided in subparagraph (B), the term “debt forgiveness” means reducing or terminating a farmer program loan made or guaranteed under this chapter, in a manner that results in a loss to the Secretary, through—
(i) writing down or writing off a loan under section 2001 of this title;
(ii) compromising, adjusting, reducing, or charging-off a debt or claim under section 1981 of this title;
(iii) paying a loss on a guaranteed loan under section 2005 of this title; or
(iv) discharging a debt as a result of bankruptcy.
Source
- 2014–present7 U.S.C. § 1991Agriculture · Definitions · as used in this chapter
In general.—Except as provided in subparagraph (B), the term "debt forgiveness" means reducing or terminating a farmer program loan made or guaranteed under this chapter, in a manner that results in a loss to the Secretary, through—
(i) writing down or writing off a loan under section 2001 of this title;
(ii) compromising, adjusting, reducing, or charging-off a debt or claim under section 1981 of this title;
(iii) paying a loss on a guaranteed loan under section 2005 of this title; or
(iv) discharging a debt as a result of bankruptcy.
Source
- 1996–20197 U.S.C. § 1991Agriculture · Definitions · as used in this chapter