The Digital Accountability & Transparency Act & Its Impact on SBA debts referred for Treasury Offset Program
We provide individuals with solutions whose SBA debt problems are referred to Treasury for collection. For instance, we will help you understand different solutions to your Treasury Debt problems and will teach you about an DOT compromise package.
The Digital Accountability and Transparency Act (DATA Act) of 2014 was signed into law on May 9, 2014. Section 5 of the DATA Act, which amends 31 U.S.C. 3716(c)(6), requires federal agencies to refer to the Treasury Offset Program legally enforceable non-tax debts (such as SBA debts) that are 120 days delinquent for administrative offset, versus the previous 180 day delinquency requirement. In addition, the DATA Act requires the Secretary of the Treasury to report to Congress "any instance" in which agencies fail to meet the new referral requirement.
The Bureau of the Fiscal Service's (BFS) Debt Management Services (DMS) is currently reviewing its policies, guidance, processes and systems as part of its implementation of the new 120-day referral and reporting requirement for administrative offset. The Bureau of Fiscal Service is charged with providing additional information and guidance to agencies as it proceeds with the implementation of the new requirement.
Dealing with the idea that you might be facing a Treasury Department collection action such as Administrative Wage Garnishment or tax offset program can be terrifying. The SBA attorneys and Treasury Department Practitioners in our office are skilled at helping clients understand all of the facets of their situations. If, for instance, you need to know what an DOT compromise package is, you can simply ask your lawyer. You should never face Treasury Debt collection problems alone. It is important to retain the services of an attorney who can help you through this difficult time in your life. We urge you to read about the services that we have available and to contact us if you believe that we can be of assistance to you right now.
Millions of Dollars in SBA Debts Resolved via Offer in Compromise and Negotiated Repayment Agreements without our Clients filing for Bankruptcy or Facing Home Foreclosure
Millions of Dollars in Treasury Debts Defended Against via AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers and Negotiated Repayment Agreements
Our Attorneys are Authorized by the Agency Practice Act to Represent Federal Debtors Nationwide before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.