Category:
Account Inquiry

Subcategory:
Account Balance Request

Created:
2016-02-27

Modified:
2016-03-25

Why am I being charged interest on a government debt?

Question

Why am I being charged interest on a government debt?

Answer

Title 31 Code of Federal Regulations (CFR) Chapter 7, Parts 900-904 requires debts to be paid in full within 30 days.  If full payment has not been received, regulation requires us to charge interest (per the Treasury rate) on the unpaid principal balance. There is no exception to this rule.

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