Resolving Unpayable Debts

A committee with unpayable debts (e.g., debts owed to defunct entities) that wants to discontinue reporting them should call their campaign finance analyst in the Reports Analysis Division for assistance. The name and contact number of the assigned analyst can be accessed on the RAD FAQs web page. RAD typically advises committees to file a statement on Form 99 (Miscellaneous Text Statement) that includes a request to discontinue reporting the debt and an explanation of why the debt is unpayable and what efforts the committee has made to contact the vendor, including the timeline and any supporting details. Terminating committees filing a Debt Settlement Plan (FEC Form 8) should include the debt on the Form 8 and explain the circumstances in the appropriate section(s). Committees are advised to continue reporting the debt until they have verified with RAD that a debt may be taken off future reports.