If you’re receiving collection calls or letters from creditors looking for unpaid debt, the statute of limitations in Virginia is something you should be aware of. A statute of limitations on debt limits the time period for which a creditor or collections agency can file a lawsuit to collect an outstanding debt. However, if the age of the debt is past the statute of limitations, you might not need to pay it back at all. Here’s what you need to know and how a debt relief agency can advise you when it comes to your debt.
Statute of Limitations
A statute of limitations is a time limit within which a creditor or collections agency can file a lawsuit to collect an outstanding debt. In Virginia, the statute of limitations is three to five years for most debts. There are a few exceptions to this rule, and specific statutes of limitations for specific debts:
- Credit Cards: 5 years
- Mortgages: 5 years
- Oral Debts: 3 years
- Auto Loans: 4 years
- Medical Debts: 5 years
- State Tax Debts: 7 years
While the statute of limitations expires, a debt collector is prohibited from security recovery by means of a court judgment. They can still attempt to recover an old debt and might continue to use a variety of other collection methods, but they cannot go to court to get a judgment for the full amount of the debt.
Debt Collection Protections
While creditors can still try to collect an old debt, debtors are shielded in Virginia from malicious and harassing debt collectors. This means that collectors cannot engage in any kind of extortion, such as threatening to sue if payment is not made immediately. Collectors can, however, contact you about the debt if you have not responded to their previous communication.
If you’re feeling harassed by a debt collector, or if you believe that your debt is not valid, consider talking to a debt relief agency. They can provide you with advice on how to deal with your debt and protect your rights.
You are protected by the Fair Debt Collection Practice Act (FDCPA), meaning there are rules for credit collectors. These will protect you from false, annoying, and abusive tactics.
If You Receive a Collection Letter
You should always review whether the collection letter is legal. Debt collectors are not allowed to duplicate legal documents for debt collection in Virginia. They can send you a letter about the debt owed, but it cannot include threats of legal action, legal demands for money, or any other threats.
Get Advice from a Debt Relief Agency Like the Law Office of Robert S. Brandt
If you are being harassed about an old debt and think the statute of limitations has expired, it’s best to confirm with a debt relief agency. At The Law Office of Robert S. Brandt, we have years of experience helping people with debt problems. We can provide you with advice on how to deal with your debt and protect your rights. Contact us today to make a consultation request.