Texas Passes Debt Buyer Legislation Addressing Out-of-Statute Debt

Editor's Note: This article was originally published on the Maurice Wutscher blog and is republished here with permission.

The Texas Legislature has passed House Bill 996 which limits when a debt buyer can initiate legal action or arbitration to collect consumer debt and requires specific notices with respect to out-of-statute debt.  Upon approval by Texas Gov. Greg Abbott, the new provisions will become effective Sept. 1, 2019.

Definition of a Debt Buyer