What are the benefits of using Texas Debt Collection protections as opposed to Federal protections?
Some key protections for Texas consumers are listed below and include but are not limited to: • Clear definitions for who can and cannot collect debts in the State of Texas, including specific guidelines for so called ‘debt collection attorneys’. • Bonding requirements for debt collectors to legally collect debts in Texas, even if the debt collector’s business resides in another state. A debt collector must have an active Surety Bond in the State of Texas to legally collect debt. • The right to sue a debt collector and file a claim against their surety bond in the event that they engage in various deceptive trade practices. • Strict guidelines for the correction and/or removal of inaccurate debt information with credit bureaus. • Strict guidelines and definitions for what constitutes threats, coercion, harrassment, abuse, unfair and unconscionable means in the practice of debt collecting. • Guidelines for debt collectors that require express authorization for the collection of interest
