The Veterans Benefits Administration, part of the Department of Veterans Affairs (VA), is seeking public feedback on the proposed collection of information known as the Financial Counseling Statement, documented in VA Form 26-8844. This proposal is part of the requirements under the Paperwork Reduction Act (PRA) of 1995, which mandates federal agencies to seek public comment for 60 days on such proposals. The form collects detailed financial information from individuals to help manage defaulted loans, aiming to enhance the understanding and handling of an individual's financial situation. The agency estimates that it will take respondents about 45 minutes to complete the form, with around 5,000 expected participants annually.
Simple Explanation
The Veterans Office wants to hear what people think about a form called the Financial Counseling Statement. This form helps the office understand how to help people who might have trouble paying back loans.