Glossary
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ServedA person is served when a legal document is delived in the manner required by law.
Statute of LimitationsThe timeperiod when a lawsuit must be filed, measured from the date of a particular incident. In the context of debt collection, it is often measured from the date of the last payment made on a debt.
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Texas Debt Collection ActState law similar to the Federal Fair Debt Collection Practices Act that prohibits harassing treatment by debt collectors. It is different from Federal law, in that it applies both to the original creditor (the person or company with whom you had the original credit contract) as well as anyone collecting a debt, including, but not limited to professional debt collectors and third party debt collectors (collecting the debt for a debt buyer who purchased delinquent credit from the original creditor or another debt buyer). Click here for more information on the Texas Debt Collection Act.
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Validation NoticeNotice a debt collector is required to give consumers as proof of the debt. It must be sent within five days of initial contact and include the amount of the debt, the name of the creditor, and how to dispute the debt. You should refuse to discuss any debt until you have this notice! The CFPB has sample letters you can use to get this information.
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Wage GarnishmentCourt orders that direct your employer to withhold a certain sum from your wages and pay it to the creditor. In Texas, most creditors cannot garnish your wages. Wages can be garnished in Texas for unpaid taxes, unpaid or court-ordered child support and alimony, and unpaid student loans that have been declared in default.
State law similar to the Federal Fair Debt Collection Practices Act that prohibits harassing treatment by debt collectors. It is different from Federal law, in that it applies both to the original creditor (the person or company with whom you had the original credit contract) as well as anyone collecting a debt, including, but not limited to professional debt collectors and third party debt collectors (collecting the debt for a debt buyer who purchased delinquent credit from the original creditor or another debt buyer). Click here for more information on the Texas Debt Collection Act.
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Validation NoticeNotice a debt collector is required to give consumers as proof of the debt. It must be sent within five days of initial contact and include the amount of the debt, the name of the creditor, and how to dispute the debt. You should refuse to discuss any debt until you have this notice! The CFPB has sample letters you can use to get this information.
W
Wage GarnishmentCourt orders that direct your employer to withhold a certain sum from your wages and pay it to the creditor. In Texas, most creditors cannot garnish your wages. Wages can be garnished in Texas for unpaid taxes, unpaid or court-ordered child support and alimony, and unpaid student loans that have been declared in default.
Notice a debt collector is required to give consumers as proof of the debt. It must be sent within five days of initial contact and include the amount of the debt, the name of the creditor, and how to dispute the debt. You should refuse to discuss any debt until you have this notice! The CFPB has sample letters you can use to get this information.