The Federal Debt Collection Procedures Act of 1990 (FDCPA), Title XXXVI of the Crime Control Act of 1990, Pub. L. No. 101-647, 104 Stat. 4789, 4933 (Nov. 29, 1990), is a United States federal law passed in 1990, affecting collection of money owed to the United States government. The FDCPA preempts state remedy laws in most circumstances.
The Act is codified in Chapter 176 of Title 28 of the United States Code, in four subchapters:
- SUBCHAPTER A—DEFINITIONS AND GENERAL PROVISIONS (§§ 3001–3015)
- SUBCHAPTER B—PREJUDGMENT REMEDIES (§§ 3101–3105)
- SUBCHAPTER C—POSTJUDGMENT REMEDIES (§§ 3201–3206)
- SUBCHAPTER D—FRAUDULENT TRANSFERS INVOLVING DEBTS (§§ 3301–3308)
A provision of the Act states that a person or organization indebted to the United States, against whom a judgment lien has been filed, is ineligible to receive a government grant, including disaster loans.
Noncompliance, depending on severity and frequency, may be punished by fine or even incarceration. FDCPA also allows the federal government to reclaim money that was fraudulently transferred.
The Federal Debt Collection Procedures Act of 1990 consists of sections 3601 through 3631 of the Crime Control Act of 1990.
- ^ Jump up to:ab Della, Mike (January 30, 2013). “Overview of the Federal Debt Collection Procedures Act of 1990”. projectdebtrelief.com. Retrieved April 30, 2013.
- ^“13 CFR 123.14 – How does the Federal Debt Collection Procedures Act of 1990 apply?”. vlex.com. January 1, 2011. Archived from the original on May 4, 2013. Retrieved April 30, 2013.
- ^Petro, Michael (March 18, 2010). “Federal Debt Collection Procedure Act (“FDCPA”) Allows Government to Collect Defendant’s Restitution From Defendant’s Bookie”. mjpetro.typepad.com. Retrieved April 30, 2013.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.