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What is the DCIA? In response to a steady increase in the amount of delinquent non-tax debt owed to the United States, and concern that appropriate actions were not being taken to collect this delinquent debt, Congress passed the Debt Collection Improvement Act of 1996 (DCIA).
The Debt Collection Act of 1982, as amended (codified at 31 U.S.C. § 3717), requires agencies, unless expressly prohibited or restricted by statute or contract, to assess three separate and distinct types of late charges on all delinquent debts, including debts owed by state and local governments.
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A debt becomes delinquent when payment is not made by the due date or end of the grace period as established in a loan or repayment agreement, or by the due date specified in the initial billing notice.
Debt Management Services (DMS) is the business area responsible for administering programs and services related to improper payments, receivables management and delinquent debt collection. (rev. October 12, 2016)
Since many states prohibit for-profit debt-management businesses, and since card issuers have limited their fair-share payments to nonprofit entities, members of this third generation of agencies are organized as nonprofit entities.
Uniform Debt-Management Services Act (Colorado, Delaware, Utah and Rhode Island) n Regulates debt-management companies by requiring them to register with the state. n To obtain a certificate of registration, a provider must supply information about itself, obtain insurance against employee
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What is Debt Management Services (DMS)?
What is the debt collection Improvement Act (DCIA)?
Who is responsible for implementing the debt collection provisions of the DCIA?
Why is Fiscal Service a centralized debt collection agency?
Five years later, credit counseling agencies are left wondering, “What happened to the promise of uniformity?” Debt management plan services are now regulated in virtually every state by one or more state-specific statutes.
