Debt Collection Improvement Act of 1996: Status of Treasuryäó»s Centralized Efforts to Collect Delinquent Federal Nontax Debt

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By Gary T. Engel (au)
Year: 2012
Pages: 58
Binding Paperback
ISBN 978-1-4578-3930-6

Product Code: 145783930X

Description

Report of a briefing to Congress on on the status of the Dept. of the Treasuryäó»s (Treasury) centralized debt collection efforts under the Debt Collection Improvement Act of 1996 (DCIA). DCIA was intended, among other things, to maximize collection of delinquent federal nontax debt. It requires federal agencies to notify Treasury of federal nontax debt delinquent over 180 days for purposes of payment offset and requires agencies to refer such debt to Treasury for centralized collection action (known as cross-servicing). To facilitate debt collection, DCIA, in concert with other federal debt collection laws that the act amended, authorizes several debt collection tools and bars delinquent federal nontax debtors from receiving additional federal loans, loan insurance, or loan guarantees until such debtors resolve their delinquencies. Treasuryäó»s centralized delinquent federal nontax debt collection efforts include the Treasury Offset Program (TOP) and the cross-servicing program, both of which are managed by Treasuryäó»s Financial Management Service (FMS). Figures. This is a print on demand report.

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