Texas Commercial Credit & Collection Information
INTEREST RATE**
- Legal: 6%
- Judgment: no less
than 10%, no more than 20%
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 4
- Written Contract: 4
- Domestic Judgment:
10 (Renewable)
- Foreign Judgment: 10
(Renewable)
BAD CHECK LAWS (CIVIL
PENALTY)
See
Texas Penal Code Chapter 32, no specific "Bad Check" law
GENERAL GARNISHMENT
EXEMPTIONS
100% of Wages
COLLECTION AGENCY BOND
& LICENSE
- Bond: Yes
- License: No
- Fee: No
*Community Property State
**Always consult counsel
to charge interest - Texas has extremely onerous usury laws & penalties.
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