DID YOU KNOW YOU CAN BE SUED JUST FOR TRYING TO COLLECT YOUR OWN DEBT?
Believe it or not, Texas has a special law which states that a creditor must follow all the rules in it or they can be sued for violations of the provisions of the Act. The Texas Attorney General can even get involved against you. All the debtor has to do is go the Texas Attorney General website and fill out a Consumer Complaint form online and you could be contacted by the Texas Attorney General. There are even provisions that relate to criminal charges if a violation occurs.
The potential pitfalls are many. The prohibitions relate to the total amount you can collect, what fees and other charges you are allowed to include in the total amount being collected, how long you can try to collect your debt, failure to handle a dispute properly, failure to correct certain kinds of errors, the manner and tone in which you attempt to collect the debt, the exact verbage of what you can say will happen to them if they do not pay, etc., etc.
The Federal Government has a similar law that applies to those collecting debts on behalf of creditors. Penalties for violations of these laws can even result in attorney’s fees being awarded against you. The Texas Act even includes a provisions which states that it is a violation of the Texas Deceptive Trade Practices Act (DTPA) if a company violates the Texas debt collection act. The Texas DTPA can result in treble damages and attorney’s fees as well.
Why take the risk of collecting your debt on your own when you can have an experienced attorney work to collect it for you.