Nexa Collections

Collection Agencies in Texas and Laws

Directory >> USA >> Texas

List of collection agencies in Texas

If you buy Collection Letters service from a Collection Agency, you will have to pay an additional Sales Tax which ranges between 6.25% to 8.25% , applicable to all Texas businesses and residents.

A complete list of federal laws to be followed by all collection agencies in USA are listed here: Debt collection laws 

Texas Debt Collection Laws Summary

  • Texas version of FDCPA applies to all entities attempting to collect a consumer debt not to indulge in fraudulent, abusive, misleading tactics, make repeated or continuous calls. Personal, family, and household debts are covered under the FDCPA law.

  • Texas has a four-year Statute of limitations on debts. Statute of limitations is the deadline for filing a lawsuit to recover money. 

  • Wages may be garnished only to pay debts related to court-ordered child support, back taxes, and defaulted student loans. Debt collectors cannot garnish wages for repayment of consumer debt.

  • Debt collectors may report the debt to credit reporting companies or sue a debtor in the court.

Texas Debt Statistics

  • The average person in Texas carries over $38,000 in debt.
  • Average Student Loan in Texas is about $31,000.
  • The average mortgage debt in Texas is $177K in 2018.
  • The average credit card debt in Texas as of 2019 is around $9,100
    An average Texan had an auto loan balance of $24,500 as of 2019
  • Texans had an average credit score of 659 in 2018

Texas Geographical Stats

  • Population in Texas: 28.7 million (year 2018)
  • Number of millionaires: 622K  ( year 2018)

Texas debt collection agency can collect all across the state including these cities Houston, San Antonio, Dallas, Austin, Fort Worth, El Paso, Arlington, Plano and Corpus Christi.