19 Tex. Admin. Code § 22.55 - Enforcement of Collection
(a) Suit. When any
CAL or HELP borrower or cosigner fails or refuses to make as many as five
monthly payments due in accordance with an executed note, the full amount of
remaining principal, accrued interest and other charges shall become due and
payable immediately. When as many as six payments have been missed, the loan
will be considered to be in default, and the Office of the Attorney General, at
the request of the Commissioner, may file suit for the outstanding
balance.
(b) When a borrower
defaults on a FSL or FSLS account, the Board may file a default claim with the
appropriate guarantor. When a borrower defaults on a HEAL account, the Board
may file suit in order to perfect a default claim with the United States
Secretary of Health and Human Services. Repayment amounts and prerogatives may
be radically different after an account has been assigned to a
guarantor.
Notes
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