|Changes in Collections Policy for Social Security|
A news article has slipped through the social scape without getting much attention. As a debt collection agency in Florida, we need to be always mindful of the debt statute of limitations. An exception to the statute of limitations has always been certain types of debt owed to the Federal Government.
Debts owed to Social Security never went away. In the private sector we have a long list of dos and dont’s that are about fair collection of a debt. Social Security has the ultimate trump card of being able to take your tax refunds, even decades after the debt occurred.
In this article, http://www.insidearm.com/daily/social-security-halts-collection-of-debts-older-than-10-years/ we come to learn that the playing field has been “somewhat” leveled, and that the SSA will no longer be pursuing debts older than 10 years.
As an American, I am not sure where I stand on this. It is my tax payer dollars that are not being collected. As a debt collection agency, I am not sure where I stand on this, I have a statute of limitations, why hasn’t the government?
Given our old fashioned values in debt collections, we believe that if you owe a debt, and are able to pay it, you have a moral obligation to do so.
So the question is, what do you think? Is it appropriate that the SSA plays by the same rules as debt collection agencies in the private sector?
Till Next time.