Located on the southeast edge of Texas is Beaumont. As the 10^th largest city in Texas, Beaumont has a population of more than 115,000 (as of 2020) and is located about 85 miles east of Houston. During and following the years of the Covid pandemic, Beaumont businesses have struggled with hefty revenue losses and resulting commercial debt issues. If you’re a business owner in Beaumont and looking for commercial debt collection laws in your city and state, please see the summary of laws below.

Commercial Debt Collection Laws

In Beaumont, the legal interest rate is set at 18 percent when it includes an agreement; without an agreement, the interest rate can be charged up to 6 percent. For judgments, the interest rate is 5.5 percent.

The statute of limitations on commercial debt accounts, contracts, and judgments:

• Open Accounts: 4 years
• Written Contracts: 4 years
• Promissory Note: 6 years
• Domestic Judgment: 10 years (renewable)
• Foreign Judgment: 10 years (renewable)

For details on the commercial debt collection laws in the state of Texas, see our Texas laws page.

History & Economy of Beaumont

In 1838, Beaumont was officially incorporated into the United States, with Alexander Calder becoming the town’s first mayor. In years following its incorporation, the largest business drivers included real estate, transportation, retail sales, farming, and construction operations. With its close proximity to the Gulf of Mexico, the Port of Beaumont would become a successful regional shipping spot.

Another leading industry in Beaumont was its mill economy, which began in the 1890s at the founding of the Beaumont Rice Mill. For 60 years, the city’s rice mills cultivated from 1,500 acres to 400,000 acres across 23 counties.

As of 2018, the top employers in Beaumont included:

1. Lamar University: 2,500 employees
2. Beaumont Independent School District: 2,300
3. ExxonMobile Corporation: 2,100
4. Christus St. Elizabeth Hospital: 2,100
5. Memorial Hermann Baptist Hospital: 1,600
6. City of Beaumont: 1,200
7. Jefferson County: 1,100
8. Burrow Global Services: 700
9. Conns Appliances, Inc.: 600
10. Alorica: 300

 

Beaumont Culture

To honor its rich history, there are several art museums, theatre buildings, and other cultural identities in Beaumont, including the Art of Museum oof Southeast Texas, the Beaumont Art Museum, Beaumont Children’s Museum, Beaumont Civic Center, and the Babe Didrikson Zaharias Museum. The oldest non-profit art gallery inn the area is the Beaumont Art League, which has been operating for 70 years.

Contact Prestige Services, Inc.

If you own a business in Beaumont, Texas or another U.S. city, and you are owed money from another company, contact Prestige Services, Inc., so our representatives can help get money returned to you. We offer a variety of services to businesses like yours, including free final notice forms, professional skip tracing, bank account searches, and more. We only take a contingency fee if we collect money in the debt collection process—so if our debt recovery service fails, there won’t be any fees for you.

For more information on the services we provide, visit our Services page.