Virginia Collection Laws

INTEREST RATE

• Legal: 8%
• Judgment: 9% or contract rate whichever is higher

STATUTE OF LIMITATIONS (IN YEARS)

• Open Acct.: 3 Last charge or payment Written Contract: 5
• Domestic Judgment: 20
• Foreign Judgment: 10
• Sales of goods under article 2 is 4 years

BAD CHECK LAWS (CIVIL PENALTY)
Lesser of $250 or three times check amount

GENERAL GARNISHMENT EXEMPTIONS
See federal law

COLLECTION AGENCY BOND & LICENSE

• Bond:$5000
• License: Depends on Locality
• Fee: No

This site has taken this information from the website listed in this state. We will not be held liable for any errors or for not updating. Updates are done every 3 months.