Last night at 10:04PM EST the U.S. Department of Education (ED) posted a new item on the FedBizOpps website, amending its RFP. The amendment extends the deadline to submit until 5PM EST on February 16.
This week, former CFPB Student Loan Ombudsman Rohit Chopra started a new job — at the Department of Education. An outspoken critic of, well, just about everything related to student loans, one thing is clear: things will probably change at the Department of Education.
On January 8, 2016 a Federal Judge in California approved a settlement in the matter of 4EC Holdings v. Linebarger Goggan Blair & Sampson (Case No 3-14-cv-01944, N.D. California) whereby the defendant law firm will pay $3.4 million dollars to resolve claims made in a class action proceeding that the firm violated the California Unfair […]
The Federal Trade Commission has approved amending language in its Rules of Practice that applies to the collection of outstanding debts owed under FTC orders and judgments. Wouldn’t it be ironic if the FTC used third party debt collectors to collect debts owed the Commission, and learned of the many obstacles to collections created by its own rulings?
On late Friday afternoon, the U.S. Department of Education (ED) posted two items on the FedBizOpps website. The first cancels the current solicitation for debt collection services. The second announces a new RFP for debt collection services.
On Friday, President Obama signed a law requiring the Internal Revenue Service to use private debt collection agencies to recover unpaid tax debt. Could this become the biggest growth client for collection agencies in 2016 and beyond? Or will it mirror the debacle that the Department of Education has become? According to the ACA Government […]
Last Friday, President Obama signed into law the Fixing America’s Surface Transportation Act, or “FAST Act.” Included in that law is a provision requiring the Internal Revenue Service (IRS) to use private debt collection companies. The law requires the IRS to “begin entering into contracts and agreements within three months after the date of the enactment of the Act.” However, there is no specified time frame for placements to begin.
Performant Financial Corporation (PFMT), historically one of the Department of Education’s (ED) top performing private collection agencies, yesterday announced financial results for its third quarter ended September 30, 2015. The company also hosted a conference call to discuss the results. Third Quarter Financial Highlights Total revenues of $38.5 million, compared to $39.6 million in the […]
The House is expected to vote later this week on a Highway Bill that includes a funding provision that would once again use private debt collectors (PDC) to collect debt owed to the Internal Revenue Service. Unlike most recent transportation legislation, this is a multi-year bill, which would allow the completion of more significant and […]
The latest congressional budget deal includes a provision to let companies collecting federal student loans (or other debts guaranteed by the government) collectors call cellphones using auto-dialers. A welcome boon to (a select few) collectors that have contracts with the Department of Education amid a sea of recent bad news, the move also highlights the double standard in the way lawmakers treat government vs. private debt.