Tex. Fin. Code § 347.351 · Subchapter H. ACTIONS ON DEFAULT
DELINQUENCY CHARGE ON DEFAULT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On each installment in default for more than 15 days, a creditor may collect a delinquency charge that does not exceed the lesser of an amount equal to five percent of the installment or $20.
(b) Only one delinquency charge may be collected on an installment, regardless of the period for which the installment remains in default.
(c) The charge or collection of a delinquency charge does not affect the right of a creditor to accelerate the debt under this subchapter.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.347.htm
- Text hash
- sha256 d06e42bf42a6f03d1518b9ebaa66af324f87bba3ff61da4e741755085254c3ca
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.