Virginia Collection Agencies
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One way to recover more from your delinquent accounts is to hire Virginia collection agencies. Virginia collection agencies can locate debtors and collect the money owed to your business, practice or facility. If used early, Virginia collection agencies can often recover a meaningful portion of your unpaid accounts.
In addition to increasing your chances of actually getting paid, using a Virginia collection agency can save you a lot time and money � two of your most valuable resources. With their custom-designed debt collection systems, computers and software, a Virginia collection agency can be more effective in recovering delinquent accounts than you can, after more than 60-90 days have passed.
Although most Virginia collection agencies can charge between 30 to 50 percent of what they recover, you still end up with more than you probably could have collected on your own. There are also Virginia collection agency services that charge a low flat fee instead of a higher percentage. Collection coverage in these: Alexandria, Annandale, Burke, Centreville, Chantilly, Charlottesville, Chesapeake, Dale City, Danville, Hampton, Lynchburg, Newport News, Norfolk, Portsmouth, Reston, Richmond, Roanoke, Suffolk, Tuckahoe, Virginia Beach and other Virginia cities.
Virginia Collection Laws
The following is a summary of the Virginia Collection Laws. The information here may not be 100% accurate and should not to be construed as legal advise. We make no warranty, express or implied concerning any information contained on this Virginia Collection Laws page, and we assume no liability for its use.
- Virginia Collection Laws Interest Rate
Legal: 8%
Judgment: 9% or contract rate whichever is higher - Virginia Collection Laws Statute Of Limitations (Years)
Open account: 3 Last charge or payment Written Contract: 5
Domestic Judgment: 20
Foreign Judgment: 10
Sales of goods under article 2 is 4 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: Depends on Locality
Fee: No
We hope that this information on Virginia Collection Agencies assists you in finding a Virginia collection agency and researching Virginia collection laws.
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