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      Unpayable debts owed by nonconnected PACs

Unpayable debts owed by nonconnected PACs If a debt cannot be paid because the creditor has gone out of business or cannot be located, the committee may write to the FEC to request permission to discontinue reporting the debt. The letter must demonstrate that the debt is at least two years old and that efforts to reach the creditor have been made. The committee must continue to report the debt until the Commission determines that the debt is unpayable.
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          Handling PAC loans, debts and advancesTerminating a committee Need help? Get help from the FEC by phone or email
 Legal citations Regulations 11 CFR 116.9Creditors that cannot be found or that are out of business


This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public. The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.


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