VirginiaState Collection Laws

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 6%

• Contract Rate: 12%

• Judgment Rate: 6%

• Corporate Rate: No special rate

 

LEGAL AGE:

• Age of Majority: 18

• Emancipation:  Upon marriage, on active duty in the armed forces or has been ordered emancipated by court of law. Va. Code Ann. § 16.1-333

• Contracts: May enter into contracts for necessaries. Zelnick v. Adams, 561 S.E.2d 711, 715 (Va. 2002)

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• A spouse who deserts or neglects to provide for the other spouse and/or children will be found guilty of a misdemeanor. Va. Code Ann. § 20-61

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: 10 years within actions or upon recognizance; 3 years in actions or motions upon a recognizance of bail in a civil suit. 5 years in which a contract is not otherwise specified and is in writing and 3 years in actions upon any unwritten contract.

•Judgments: 20 years

•District Court Judgments: 10 years

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney. 

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