§ 1987. Debt adjustment and credit counseling; “summary period” defined; loan summary statements
(a)
The Secretary may provide voluntary debt adjustment assistance between farmers and their creditors and may cooperate with State, territorial, and local agencies and committees engaged in such debt adjustment, and may give credit counseling.
(b)
(1)
As used in this subsection, the term “summary period” means—
(2)
On the request of a borrower of a loan made or insured (but not guaranteed) under this chapter, the Secretary shall issue to such borrower a loan summary statement that reflects the account activity during the summary period for each loan made or insured under this chapter to such borrower, including—
(A)
the outstanding amount of principal due on each such loan at the beginning of the summary period;
(C)
the amount of payments made on and their application to each such loan during the summary period and an explanation of the basis for the application of such payments;