Texas Coll Agency Requirement

Discussion in 'Credit Talk' started by NanaC, Jul 24, 2001.

  1. NanaC

    NanaC Well-Known Member

    Ok, Lawdog says taht a third-party debt collector or credit bureau may not engage in debt collection activities in the State of Texas unless it has obtained a qualified surety bond in the sum of $10,000 and file the same with the Secretary of State.

    So, where do I find out if a CA has this bond?? Thoughts?

    GEORGE Well-Known Member

    I think you answered your own question.

    Secretary of State.
  3. heather

    heather Well-Known Member

    I would be interested in knowing this also Nana, I have collection agencies in Oklahoma and Kansas after me.
  4. NanaC

    NanaC Well-Known Member

    Yup..I went to the Secretary of State website and found it would be in the Statutory Documents Section. I've now written to the person in charge of third-party collectors and asked them how we can verify if a company has complied with this law!


    I'll infom you Texans and those dealing with Texas companies as soon as I know!
  5. NanaC

    NanaC Well-Known Member

    Heather, you are in Texas?

    George! You got it! LOL You are crazy, you know that!

    GEORGE Well-Known Member

    Secretary Of State Capitol Building
    1100 Congress Ave
    Austin, TX 787011944

    Secretary Of State Office
    S I H 35
    Austin, TX 733010001


    I'm 700 now...

  7. heather

    heather Well-Known Member

    Nana, yes, I am about 20 miles from Amarillo.
  8. NanaC

    NanaC Well-Known Member

    Alright, I'll let you know what I find out. Please also check the laws regulating these guys in those other states..:) You may have already but I figure I should mention it.
  9. bhdunbar

    bhdunbar Active Member

    I am curious as to what you find out since I am in Texas also.
  10. heather

    heather Well-Known Member

    Nana, Actually I have not checked any laws, did not know that was something I could do. If there is a ca after you and they are not bonded in Texas, what advantage does that give us?
  11. breeze

    breeze Well-Known Member

    You can check your state's laws at http://www.lawdog.com
    different states have different laws. If you have any trouble navigating the lite, let us know. It's pretty easy for the average computer user to find the state, the click on "statutes"

  12. keltexx

    keltexx Well-Known Member

    I'm in Houston Nana-have some bookmarks for state govt sites at work-will post tomorrow.
  13. NanaC

    NanaC Well-Known Member

    Thanks, Kel!

    I will ask that question tomorrow (about not being bonded when required) when they respond with the others.

    You definitely want to find out about the other states because they may have licensing requirements and not even be licensed. Or they may be breaking their state laws. That happened to me with an IL company that wasn't licensed. For IL, you can actually do a search to see. As soon as I pointed this out, they hightailed it away as the fine is automatic $1000.
  14. dtembe

    dtembe Active Member

    I am in Texas too. Dallas actually, so if y'all find anything about say Asset Acceptance and Midland Credit Management please let me know.
  15. wakedl

    wakedl Member

    Third-party debt collector sure10K

    I found what the bond is subject to if the collector is bonded in Texas.


    1. This bond shall also be construed to be in favor of any person damaged by any violation of § 392.001, Texas Finance Code.

    2. That an individual injured by a violation of this act may bring an action against principal and surety on this bond.

    3. That the aggregate liability of the surety to all persons damaged by principal's violation of this act may not exceed the amount of the bond.

    4. The bond shall not be subject to cancellation by either the principal or the surety unless written notice of intent to cancel is forwarded by the surety and/or principal to the Secretary of State, Statutory Documents Section, at least ninety (90) days prior to the effective date of the cancellation. If the cancellation is at the request of the surety, the surety shall also provide the principal with written notification at least ninety (90) days prior to the effective date of cancellation.


    Interesting! I live in N Dallas

    David W
  16. NanaC

    NanaC Well-Known Member

    Re: Third-party debt collector sure10K

    Here's the information..so if you live in Texas and you have a CA after you, the first step is to see if they have a bond filed.

    You may find whether such a bond has been filed by contacting Nina Weston at
    nweston@sos.state.tx.us or by calling the Legal Support Unit at (512)

    Good luck to everyone!! Pleae post here if you find someone does or does not to help others. Thanks!
  17. keltexx

    keltexx Well-Known Member

    Re: Third-party debt collector sure10K

    Nana, I forgot to post that site today! Doh! (Hitting head, Homer-esque).

    Anyhow, there is a link through lawdog to Texas, then consumer info. There is a state consumer protection agency, and if you go to forms/files there is a form to fill out/send re: complaints about creditors, collections, etc. I am trying this with a utility bill, along with a barage of complaints to Atty General, Utilities Commission, etc. I am also gonna see if this particular vermin collection agency is listed via the info you provided.

    Welcome to the lone star state!
  18. NanaC

    NanaC Well-Known Member

    Re: Third-party debt collector sure10K

    Kel..thanks for the great info!! LOL
  19. heather

    heather Well-Known Member

    Re: Third-party debt collector sure10K

    If they are not bonded, does that mean that they cannot try to collect from the debtor?

Share This Page