The study compared private collections and IRS collections during four consecutive six-month intervals. Taxpayer Advocate Service found that while private collectors collected more tax dollars in the first six-month period than the IRS, over time IRS collections were more consistent. Private collection agencies had six months of success, before drastically decreasing the dollar amount and percentage of available taxpayer dollars collected.
The Social Security Administration announced Monday that it will immediately stop efforts to collect on taxpayers’ debts to the government that are more than 10 years old. This means the SSA will no longer seize state and federal refunds from people who had relatives who owed money to the agency. While the SSA will no longer seize federal and/or state refunds to pay for government debts past the federal statute of limitations, this does not have any impact on other time-barred debts on a state-by-state basis.
The attorney general of Arizona, Tom Horne, recently hired a new leader for his Collections Enforcement Unit, a clearinghouse for debt owed to various state agencies. But the specific person hired to fill that role appears to have sparked controversy, or soon will, according to a local paper.
Fed Cetera is pleased to announce its sponsorship of a free teleseminar, Licensing: When and How to Go National, scheduled for Wednesday, April 16, 2014, at 12 noon EST. The content of the teleseminar is tailored to small collection agencies that do not have nationwide licensing, but are considering this step.
The student loan market is often framed in terms of the Next Big Thing for the ARM industry. Unpaid student loans make up the highest-growth collections market in the country, topping $1 trillion in 2013. However, the market segment remains confusing for those that want a chance to work student loan paper.
MyGovWatch.com, a website that tracks government and student loan collection services purchasing nationally, announced today that it has launched a revamped version of its Vendor Center, a feature that lets users look up price quotes, documents, and other activities of competitors.
Oregon lawmakers Wednesday held a hearing on a bill that would prevent the state’s Department of Revenue from hiring private debt collection agencies to help recover unpaid taxes.
Performant Financial Corporation (NASDAQ: PFMT), a leading provider of technology-enabled recovery and related analytics services in the United States, today announced that Bradley M. Fluegel has been elected to serve on its Board of Directors.
National Credit Services (NCS) and Fed Cetera are pleased to announce that NCS has won Fed Cetera’s first-ever Robert J. Prince Award for outstanding performance as a subcontractor on the Department of Education’s (ED) Private Collection Agency (PCA) contract.
Net Gain Marketing, Inc. (NGM) today announced that it will offer ten free leads to new clients in 2014 to celebrate the company’s ten years in business. Any company that signs a new contract with NGM during 2014 can take advantage of this offer at any time.