Section 761.405 - Application(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) One completed original debt settlement application on the applicable Agency form signed by all parties liable for the debt;(2) A current financial statement;(3) A cash flow projection for the next production or earnings period;(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) 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) Verification of debts exceeding an amount determined by the Agency;(7) Copies of complete Federal income tax returns for the previous 3 years; and(8) Any other items requested by the Agency to evaluate the debtor's financial condition. 85 FR 36691 , June 17, 2020, as amended at 86 FR 43391 , Aug. 9, 2021 85 FR 36691, 6/17/2020; as amended at 86 FR 43391, 8/9/2021