Starting Score (4/16/12 lender pull): TU 596 | EX 550 | EQ 576
Virginia Statute of Limitations on Debt Collection
Statute of limitations assign a certain time after which suit may no longer be filed and a collector may no longer collect a debt from a consumer.
In Virginia, during the time period in which an account remains open, and no payment is made on the account, a collector has a statute of limitations of 3 years from the date of last payment or last charge for goods or services rendered on the account to file suit against a consumer.
If a debt is based on a written contract (non-Uniform Commercial Code) the statute of limitation period is 5 years.
Domestic judgments, or those obtained in a Virginia court of law have a collection period of 10 years and may be extended for a long as 20 years. While foreign judgments, or any judgments of a court where the debt did not originally occur, also have a collection period of 10 years but may not be renewed or extended.
Starting Score: 0
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