Virginia Commercial Credit & Collection Information
INTEREST RATE
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, plus interest and fees
GENERAL GARNISHMENT
EXEMPTIONS
See federal law
COLLECTION AGENCY BOND
& LICENSE
- Bond:$5000
- License: Depends on
Locality
- Fee: No
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