Houston Consumer Credit Lawyers – Debt Collection
Without credit, the global economy would grind to a halt. It is no exaggeration to say that the lender-borrower relationship is a critical cornerstone of commerce as well as a fundamental underpinning of corporate law, consumer law and business planning.
However, both borrowers and lenders must adhere to certain responsibilities and standards of conduct. For borrowers, one such standard – under normal circumstances – involves fully repaying loans issued legally and in good faith. When a borrower fails to uphold his or her obligation to repay, his or her lender may take steps to collect on the unpaid debt. This is known as debt collection.
Debt collection laws and regulations have important implications for business law across Texas and beyond. Consumers who wish to avoid predatory or unfair lending practices would do well to educate themselves on the subject.
Help with Debt Collection in Houston and Galveston
In Texas, debt collection activities are governed by a variety of federal statues as well as the Texas Debt Collection Act. Lenders and the third-party debt collection agencies to which they may sell delinquent debts must follow these laws to the letter. In particular, collectors are prohibited from:
- Attempting to collect more than the originally agreed-upon amount
- Failing to acknowledge written notice of disputed items within 30 days
- Using fraudulent or deceptive practices, including self-misrepresentation and blackmail, in an attempt to collect the debt
- Threatening or harassing borrowers in certain prohibited ways
Consumers who believe that their lenders or third-party collectors are in violation of state or federal statutes can file a complaint with the Texas Office of Consumer Credit Commissioner or contact the Consumer Assistance Hotline directly. If the offending organization is licensed with the OCCC, an investigation will ensue. That said, consumers who wish to maximize the chances of a favorable resolution to their case should contact a seasoned Houston business attorney as well.
Work with an Experienced Houston Consumer Protection Attorney
At the Law Offices of Lambert & Jakob, we take accusations of consumer protection law violations seriously. Although we recognize the legal right of lenders to take reasonable steps to collect on their debts, we also believe that enforcement of usury laws and other credit regulations is critical. As such, we pledge to aggressively defend the rights of consumers and small business owners facing unfair debt collection practices.
Whether you own a small Missouri City business that has fallen on hard times or a Pearland home in jeopardy of foreclosure, we are ready to review your case and provide all appropriate assistance.
Contact Us Today
For more information about our Houston credit lawyers’ expertise in debt collection, home equity loans, lender liability and a wide range of other issues related to credit law, corporate law, real estate law and business planning in Harris, Waller and Fort Bend County, please call us at (713) 640-5700 or fill out the online contact form to schedule a free, no-obligation consultation.