four years The statute of limitations on debt in Texas is four years. This section of the law, introduced in 2019, states that a payment on the debt (or any other activity) does not restart the clock on the statute of limitations.Jul 19, 2021
In Texas, wage garnishment is prohibited by the Texas Constitution except for a few kinds of debt: child support, spousal support, student loans, or unpaid taxes. However, Texas does allow for a bank account to be frozen. Once your wages are deposited into your bank account, the funds can be frozen and possibly seized.Jul 19, 2021
You will not go to jail if you do not pay a “payday” loan. An individual who needs immediate cash due to a personal emergency can obtain a “payday loan” from any of the numerous payday loan companies throughout Texas. The borrower agrees to pay an exorbitant interest rate – often over 500 percent—for the loan.