We have helped many people understand how Texas payday loan collection laws can both protect you and also leave you liable all at the same time.
It is very important to understand the laws regarding payday loans both online and over the counter in your state.
Today we will cover Texas payday loan laws.
Also Read
What collection practices are allowed and what practices are against Texas law and where you stand regarding these laws with your payday loan debt is information that you must have. knowledge of!This article will walk through the Texas payday loan laws and explain how they can
This article will walk through the Texas payday loan laws and explain how they can affect you both with brick and mortar store fronts and also regarding Texas payday loans online.
Texas Collection Laws
The very first thing you will notice when doing a Google search for “Texas Collection Laws” is besides this article you will pretty much only find companies who are trying to get you to take out payday loans.
This industry is shifty and they go for your pocketbook with a vengeance with zero regards for your well being and that to us is a real crime all by itself!
The problem with the Texas collection laws when regarding payday loan debt is they were written by the industry with many loopholes put in place. through corrupt “paid for” politicians by lobbyists for the payday loan industry.
The payday loan companies got these loopholes put there through corrupt “paid for” politicians who’s votes were boughten by lobbyists for the payday loan industry.
They pretty much wrote their own ticket so to speak.
While on the outside they look like they are written for the borrowers protection, they really protect the payday loan industry.
One Example of Loopholes
The collection laws of Texas state the loan companies can not throw you in jail for your outstanding defaulted payday loan debt.
They state law clearly states that payday loans are civil contracts and thus subject to civil courts, meaning they payday loan companies may take you to court for repayment of your debt but they can not have you jailed for breaking any law.
Or can they?
Payday loan companies encouraged the passing of this law simply because they knew they could use it as a way of collecting defaulted payday loans.
They can threaten you with jail time when trying to collect the debt simply by turning in your post dated check to the authorities. because they have you post date a check for your loan and writing a worthless check in Texas is a crime.
Remember, they have you post date a check for your loan and writing a worthless check in Texas is a crime.
This is just one small example of how these companies twist the laws and the lawmakers to their advantage.
They spend millions of dollars a year getting laws passed that actually help them make huge profits off the backs of the poor and underprivileged!
What To Do?
I think you are getting the idea that no matter how much you know about Texas or any other state’s collection laws regarding payday loans you are playing a game of cards that has the deck stacked against you.
We could continue on with going through all the other texas payday loan collection laws but it would all end in the same result.
Payday loan companies, 1 borrowers, 0
Rather than waste your time with this we would rather inform you that there are companies on the net that specialize in working with these loan companies to get you the lowest possible payback amount on your payday loan debt.
You can read about our number one recommendation by clicking here or you can fill out our form for a free no-obligation quote on how we can help you with your payday loan debt!
Summary
We urge you to check out our recommendation for dealing with payday loan debt and leave all the work to us.
We deal with these companies every day and we can stop all collection activity in their tracks with one phone call.
Instead of trying to make sense of the Texas payday loan collection laws lets us do it for you.
We will get you the best repayment plan possible and you will never have to talk to these collectors again, we will do that for you!
