Collection Agencies in Texas and 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.

• 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.