TEXAS INTEREST RATE - Legal: 18% with agreement can charge up to 6% w/o agreement -
statutory interest of 6% begins to run 30th day after becoming due
Judgment: 5%
STATUTE OF LIMITATIONS (IN YEARS) -
Open Acct.: 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. Home on 1 acre of land in the city and 200 acres if it is in the country (outside city limits), 1 car.
COLLECTION AGENCY BOND & LICENSE -
Contact: Secretary of State
Corporations Section
P.O. Box 13697
Austin, TX 78711
1019 Brazos
Austin, TX 78701
Phone: (512) 463-5555 * Always consult counsel to charge interest - Texas has very onerous usury laws & penalties. web: www.sos.state.tx.us/corp