What is a debt (as defined in the DCIA)?
“Debt” or “claim” [used synonymously] means any amount of funds or property that an appropriate official of the federal government has determined is owed to the United States by a person, organization, or entity other than another federal agency. Most of the debt collection provisions of the DCIA apply to non-tax debt. • When is an amount considered a debt? A debt or receivable is created when a responsible federal official determines that an amount is owed. There is no requirement that an amount be litigated or adjudicated prior to its consideration as a receivable. However, a debt may not be collectible until the amount is fixed (or is otherwise finally adjudicated). • What are the examples of the debts included in the law?
“Debt” or “claim” [used synonymously] means any amount of funds or property that an appropriate official of the federal government has determined is owed to the United States by a person, organization, or entity other than another federal agency. Most of the debt collection provisions of the DCIA apply to non-tax debt. • When is an amount considered a debt? A debt or receivable is created when a responsible federal official determines that an amount is owed. There is no requirement that an amount be litigated or adjudicated prior to its consideration as a receivable. However, a debt may not be collectible until the amount is fixed (or is otherwise finally adjudicated). • What are the examples of the debts included in the law? Examples of debts include: • Loans made, insured or guaranteed by the government, including deficiency amounts due after foreclosure or sale of collateral [examples: student direct and guaranteed loans, SBA loans, HUD loans]; • Expenditures of non-appropriated fun
