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Researching your options for debt collection can be a daunting task. Collection laws in Virginia are complex, so it makes sense to work with a collection agency that knows Virginia.
Summit AR is a licensed, bonded and insured national debt recovery agency specializing in the unique accounts receivable issues that can plague businesses of any size. Our team includes experts on Virginia debt law who can tackle even the most challenging cases.
Our team will assist in recovering on problem accounts in any corner of Virginia, including Virginia Beach, Norfolk, Chesapeake, Richmond, Arlington, Newport News, East Hampton, Hampton, Alexandria, and Portsmouth. Contact us today to get your case started.
Virginia Collection Laws Interest Rate
| Legal: | 8% |
| Judgment: | 9% or contract rate, whichever is higher |
Virginia Collection Laws Statute Of Limitations
| Open Account: | 3 years |
| Sale of Goods: | 4 years |
| Written Contract: | 5 years |
| Domestic Judgment: | 20 years |
| Foreign Judgment: | 10 years |
Virginia Collection Laws Bad Check Laws (NSF) (Civil Penalty)
| Lesser of $250 or three times check amount |
Virginia Collection Laws General Garnishment Exemptions
| See Federal law |
Virginia Collection Laws Collection Agency Bond & Licensing Rules
| Bond: | $5000 |
| License: | Varies by locality |
| Fee: | No |
If you’re looking for a collection agency that knows Virginia, contact Summit AR today for fast, friendly, and effective results.
Disclaimer: While we strive to keep our state resource data accurate and up-to-date, the information contained on this page is provided without any warranty (expressed or implied), and should not be considered legal advice. We assume no liability for its use.
Convert more aged receivables into bottom-line revenue.
Our experienced collections specialists provide the best of both worlds: collection rates up to double the industry average, but with a delicate touch to protect your company’s relationships and good name. Schedule a free no-obligation consultation and learn how Summit A•R can put your balance sheets back in the black.
