(1) An employee may contact the department online or in another manner approved by the department to make an offer to settle a debt for less than the full amount the employee owes. The employee must:

(a) Specify the amount the employee is offering to repay; and

(b) Be prepared to provide financial and other information to support the offer.

(2) The department may request a credit report to verify the information the employee provides.

(3) The department will notify the employee of its decision to accept or decline the offer.