Texas Debt Collection Laws and Statutes

AccountsReceivable.com handles debt collections throughout the entire state of Texas.

Below you will find important information on Texas state debt recovery laws including: Texas Statutes, Judgments, Garnishments, Interest Rates, and Bad Check Laws.

STATE: TEXAS

Interest Rate

Legal: 6%
Agreement: can charge up to 18%
No Agreement: statuory interest of 6% begins to run 30th day after becoming due
Judgment: 8.25% (effective 2007) Always consult cousel to charge interst – Texas has very onerous usury laws & penalties.

STATUTE OF LIMITATIONS (IN YEARS)

Open Account: 4
Written Contract: 4
Promissory Note: 6
Domestic Judgment: 10 Renewable
Foreign Judgment: 10 Renewable

BAD CHECK LAWS (CIVIL PENALTY)

N/A

GENERAL GARNISHMENT EXEMPTIONS

100% of wages.

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Texas Debt Collection Laws and Statutes

Texas Debt Collection Laws and Statutes