question about wording of Texas law
Date: Fri, 03/12/2010 - 18:30
Ok here is what it says in the Texas Finance Code:
Sec. 392.102. CLAIM AGAINST BOND. A person who claims against a bond for a violation of this chapter may maintain an action against the third-party debt collector or credit bureau and against the surety. The aggregate liability of the surety to all persons damaged by a violation of this chapter may not exceed the amount of the bond.
I never noticed this before, but it looks to be worded that you can force the CA to pay up AND to get a pay off from the bond as well.
If you can do this..wow....it makes Texas laws go from having teeth to having shark teeth heh.
Yeah..I'm gonna sue you for a couple thousand and take it from your company AND your bond! hehe. It would make the surety company really unhappy...something else to strong-arm:twisted::twisted::twisted: a CA with...threaten to inform the surety company of an imminent claim against the bond....
Sec. 392.102. CLAIM AGAINST BOND. A person who claims against a bond for a violation of this chapter may maintain an action against the third-party debt collector or credit bureau and against the surety. The aggregate liability of the surety to all persons damaged by a violation of this chapter may not exceed the amount of the bond.
I never noticed this before, but it looks to be worded that you can force the CA to pay up AND to get a pay off from the bond as well.
If you can do this..wow....it makes Texas laws go from having teeth to having shark teeth heh.
Yeah..I'm gonna sue you for a couple thousand and take it from your company AND your bond! hehe. It would make the surety company really unhappy...something else to strong-arm:twisted::twisted::twisted: a CA with...threaten to inform the surety company of an imminent claim against the bond....
That would be sweet if one can sue and collect against the bond
That would be sweet if one can sue and collect against the bond obtained by the collection agency in the state to do business. I think Texas has great laws.
Thanks a lot for this update. Hope the other states too would implement laws that would empower the consumers more against abusive collectors.
