Debt Collection Act of 1981

[AI summary unavailable — showing source text] Debt Collection Act of 1981 - Amends the Privacy Act of 1974 to permit Federal agencies to disclose specified information concerning an individual to a consumer reporting agency. Authorizes a Federal agency attempting to collect an overdue claim of the United States to notify a consumer reporting agency that a person is responsible for such claim if: (1) the agency sends a written notice informing the person that a consumer reporting agency will be contacted within 60 days, describing the information to be disclosed, and explaining the person's rights of administrative appeal and right of a full explanation of the claim; (2) the person has not agreed to repay the claim or filed for review of the claim; (3) the agency has established procedures for updating and verifying information about the claim; and (4) the agency has reviewed the claim, if requested, and provided for the reconsideration of the decision upon review. Requires the Director of the Office of Management and Budget to establish regulations requiring each agency with outstanding debts to submit annual reports on the amount and number of such debts, the interest charged on such debts, the cost to the agency of collectin…