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Need a Breakdown of my State's Law and Questions (Have URL).


Maikeru-sama
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A poster was kind of enough to give me a link that showed the SOL among other things in each state. Okay, I live in Texas, so I was wondering what all this stuff meant:

TEXAS %

INTEREST RATE*

Legal: 6% with agreement can charge up to 18%. w/o agreement - statutory interest of 6% begins to run 30th day after becoming due

Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 4

Written Contract: 4

Domestic Judgment: 10 (Renewable)

Foreign Judgment: 10 (Renewable)

BAD CHECK LAWS (CIVIL PENALTY) N/A

GENERAL GARNISHMENT EXEMPTIONS

100% of Wages

COLLECTION AGENCY BOND & LICENSE

Bond: Yes License: No Fee: No

Always consult counsel to charge interest - Texas has very onerous usury laws & penalties.

http://whychat.5u.com/States/states.html

Okay, first and foremost, I could not tell which one of those items pertained to Credit Cards SOLs in Texas?

What is an example of a Foreign Judgement out of curiosity?

Also, is the Garnishment Item saying a creditor can or cannot garnish your wages 100%?

Last but not least, for those who are in the know, is Texas generally a state that is very TOUGH on CAs that violate Laws?

I must tell you, this site and some of the subject matter being discussed here is very interesting...

- Mike G.

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I would think a foreign judgement is a judgement from another state. I really am not qualified enough to reply to your questions, however you may want to post this question on the "Is there a lawyer in the house" forum.

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A foreign judgement is a judgement from another state.

SOL in Tx for everything is 4 years.

There is no wage garnishment in Tx, period.

Tx is pretty tough on CA's. You can DV anyone at anytime according to state law. The CA MUST cease collection efforts, MUST respond in 30 days, and violating section 392 of the finance code is a CRIME, although only a misdemeanor.

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