We appreciate the business of our valued customers and recognize that from time to time payment may be delayed due to extenuating circumstances. We will make every endeavor to work with our customers in these circumstances to a mutually beneficial arrangement.
For accounts where the above does not apply we will:
For accounts that are overdue more than six months:
When we get a judgment against you, we we will then pursue enforcement. At our discretion we will then either:
A Money Judgment in Texas is valid for ten (10) years and will stay on your credit report for ten (10) years - not seven. This will be reported on your commercial credit report and will likely influence your ability to obtain credit and make purchases for your business.
In Texas, the cost of collections and litigation may be recovered as part of the judgment. It is in our Credit Policy that late fees accrue at 1.5% of interest per month (applied after the payment due date) which is an annualized interest rate of 19.56%.