Financial Management:

Legislation to Improve Governmentwide Debt Collection Practices

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

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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.

Oct 2, 2017

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    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

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