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Delinquent federal debt is debt by the government which has not been paid on time. This is generally a result of a unbalanced budget.
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∙ 9y ago
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What does it mean to have a delinquent debt?
A delinquent debt is a term used to indicate that an agreement for services and/or goods has not been honored. In other words, a person didn't pay their bill(s).
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
What percentage of the debt do third party collection agencies typically pay for a delinquent account?
5%
Which companies offer federal debt consolidation?
Some companies which offer federal debt consolidation include Federal Debt Management Services. In the United States, federal student loans can be consolidated by the Department of Education.
How long does a debt stay on your credit if the amount is not paid?
A debt will stay on your credit report for seven years after the date that you were originally delinquent on the account. After seven years, this debt is taken off of the account.
How long can a creditor come after the money?
By the Federal Fair Debt Collections Practices Act, lenders have seven years from the date of last payment to recover delinquent or defaulted receivables. In the event the lender obtains a judgment against the debtor, he then has ten years from the date of last payment, and numerous ways to recover the debt.
Can your federal refund be taken for student loans?
For delinquent gov't insured or guaranteed loans.
What was the us's debt in 1776?
us federal debt in 1850
What was the US debt in 1776?
us federal debt in 1850
What improvements in financial management did the Federal Financial Management Act provide?
it required the use of electronic transfers in making wage, salary, and retirement payments. To encourage debt collections, it provided that agencies could retain a percentage of delinquent debts collected.
My credit report shows a delinquent account from 2005 a collection agency is listing it now reported as of 6 2009 is that legal?
No it is called re-aging which is federal violation, collection agencies do this to refresh the SOL so they have legal recourse to sue you for the debt.
What does The national debt include?
all federal debt from previous years.
