What is the Texas law on statue of limitation of debts?

Answer by  jessicaknudtson (58)

There is no such thing as statue of limitations of debts. Debt starts from the time the payment is delinquint. However, in the state of Texas, residents are protected under Texas state law and cannot be sued for their debts. This is goverened by both state and the FDCPA laws.

Answer by  t123 (520)

In Texas, the statute of limitations on debt is 4 years. It starts from the the date of the last payment and includes written and oral contracts.

Answer by  Robesq (5)

In Texas the statute of limitation for collecting debts is 4 years for open accounts, promissory notes, oral agreements or written contracts

Answer by  Hewitt302 (1720)

The statue of limitation for most states, including Texas is 7 years. Even debts paid off won't leave your credit report until after the 7 year mandatory statue.

Answer by  Dean (4035)

The Texas Civil Practice & Remedies Code (Section 16.004 [a] (3)) states a four-year limitation for some types of debt. The four-year period begins teh day after the "Cause of action" accrues, that it the day it becomes a bad debt. That's the simple answer. Refer to the wording of the law for details.

Answer by  Lillian (87)

Texas Civil Practice and Remedies Code Chapter 16. Section 16. 004(3) limits the time in which an action may be filed to collect a debt to four years. The four year limitation applies to debts created by either an oral or written contract. Some acts (such as acknowledgment of the debt) may extend the time beyond four years.

Answer by  Bob4Advice (23)

Some debts may be uncollectable or capable of simple resolution. You do not have to deal with an abusive debt collectors. The Texas Civil Practice and Remedies Code provides a 4-year limitations period on these types of debt. The SoL begins after the day the cause of action accrues.

Answer by  jbl7894 (16)

The statue of limitation is 4 years. The debt is still owed but, would have to be paided voluntarily by the person who owes the debt.

Answer by  Reymo (11)

In addition to the agreed debt, can additional costs, as in mechanical fees, parking violations the user accrued be added as liquidated damages? Can the damage of credit history (repossession) and legal blemishes fall into liquidated damages and how can I measure such damage?