Financial Management:

Legislation to Improve Governmentwide Debt Collection Practices

T-AIMD-95-235: Published: Sep 8, 1995. Publicly Released: Sep 8, 1995.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO discussed proposed legislation to improve governmentwide debt collection practices. GAO noted that: (1) the federal government reported $241 billion in nontax receivables, most of which were the result of direct loans and loans acquired as a result of claims paid on defaulted guaranteed loans as of September 30, 1994; (2) it is essential that the federal government make and guarantee creditworthy loans, as well as put effective practices in place to collect the amounts that are owed; (3) the potential for increasing collections through sound debt collection programs can help reduce the deficit; (4) the collection of nontax receivables increased by $8.8 billion between fiscal years 1993 and 1994; (5) in fiscal year 1994, delinquent nontax debt increased by over $5 billion with almost $10 billion in delinquencies reported as write offs; and (6) federal agencies must have a range of tools and authorities to help them minimize the amount of delinquencies and write offs that continue to occur each year and reduce the costs of lending programs.

Sep 20, 2016

Sep 6, 2016

Aug 19, 2016

Aug 12, 2016

Jul 29, 2016

Jul 28, 2016

Jul 13, 2016

Jul 11, 2016

Jun 13, 2016

Looking for more? Browse all our products here