Credit Card Debt In Virginia

I was told the statute is 10 years by a debt collector trying to get money from me on an 8 year old credit card that I may have paid off. After 7 years I shred all paperwork except for tax returns.

3 years for a credit card

The statute that places it in the 3 year collecting SOL --

8.01-246. Personal actions based on contracts.

Subject to the provisions of § 8.01-243 regarding injuries to person and property and of § 8.01-245 regarding the application of limitations to fiduciaries, and their bonds, actions founded upon a contract, other than actions on a judgment or decree, shall be brought within the following number of years next after the cause of action shall have accrued:

4. In actions upon any unwritten contract, express or implied, within three years.

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The collecting SOL starts to run from the last payment or charge made on an ACTIVE account.
Once the account is charged off it is no longer an active account and any payment made after charge off will not re-set the collecting SOL.

Since it say it has been 8 years, you might send the collector a SOL letter.

You might go to the last link I have listed in my profile (a totally free site) and do some reading in the credit forum and for sample letter templates.

2007-05-18 06:40:28 by thomas_kendi

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My father in law collects $1437 per month social security. He has no other income. He has acrrued credit card debt of close to $18000 during the past 4 years for his living expenses. We are just now finding out about this. He has no money left over at the end of the month to pay on these debts. Do the creditors have the ability in the state of Virginia to garnish his social security. Any other thoughts? Bankruptcy is not an option. He has no assets. Does not own a home, has no cash in bank and his car was purchaed for $800. Thanks.

Well, people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!

2006-10-10 10:07:05 by J B

There are provisions in the state code for filing a detinue form for the sale of property to settle debt after receiving a judgment and posting a lien. Is this legal to be used by credit card companies? I get lots of conflicting info off of the web.

A filing of Warrant in Detinue is used in small claims court to sell anything that has a value equal to the judgment or property secured by the debt.

The maximum allowed is for judgments up to $5000.

I doubt a court would let them sell your home as it no doubt exceeds the judgment, also, unless you have paid off the mortgage, you still have a lien holder who comes first (the mortgage company).

There are ways to fight back and you can read more in the link posed in the source area.

Hope this answer is of help to you
LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice

2009-09-02 01:11:07 by fishead

This is in state of Virginia, debt was sold by credit card co. almost 4 years ago.

This is typical of junk debt collection agencies. they can not pursue legal action unless you make a payment and re-set the SOL. Just send them a letter informing them that you know it is time barred: Here is a sample letter to use (just fill in your information>

Today's Date
Your Name
Your Address
Collector's Name
Collector's Address
RE: [insert account number or name of account or name of debt]:
Dear [insert collector's name or company name],
This letter is in response to your [letter dated xx-xx-2005] (copy enclosed) or [phone call on xx-xx-2005], concerning the collection of the above referenced [account or date].
I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the Fair Debt Collection Practices Act (FDCPA) and my state laws so I hope to save both of us a great deal of time by letting you know that not only do I dispute the validity of this debt, I have also checked with my State Attorney General and verified that the Statute of Limitations for enforcing this type of debt through the courts in (insert your state or the state in which the contract was signed) has expired. Therefore, should you decide to pursue this matter in court I intend to inform the court of my dispute of this debt and that the "statute of limitations" has expired.
This letter is your formal notification that I consider this matter closed and demand that you, or anyone affiliated with your company, stop contacting me regarding this or any other matter except to advise me that your debt collection efforts are being terminated or that you or the creditor are taking specific actions allowed by the FDCPA or my state laws.
Be advised that I consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Be advised that I tape record all phone calls and violations of the FDCPA can result in you or your company being personally fined up to $1,000 per incident.


(Sign above name)
Printed Name

2008-04-23 10:21:24 by J D

I disputed a valid credit card debt of mine of $1,700 about 3 days ago to the collection agency. I am wondering what are the next step to follow. Do i have to send a letter to the credit bureaus too? also if they validate my debt, how much time do I have to pay this collection my debt. Please help me out, I'm nervous if they will take me to court or not. I live in Virginia if that helps for any law information. I would appreciate your help. thank you
the account was opened in Maryland and I am currently living in Virginia

The VA state statute of limitatiions for credit card debt is 3 years so if the debt is beyond the limitations, then it is "time barred" and they can not seek legal recourse. If they do try to take it to court, the SOL would be your defense.

If the debt is valid, the time to repay would be determined by an agreement between you and the collection agency.

If they fail to validate this debt, then the next step would be to contact the CRA's and file a dispute. Here is a link on how to do this (don't try it online, it never works). You will have to send it to the CRA's certified mail/return receipt!!!
http://www.ftc.gov/bcp/menus/consumer/cr edit/reports.shtm
Download a pdf file regarding how to dispute with CRA's

the CRA's will then have 30 days to validate the debt, if they get no response from the collection agency either, then they will remove the item and send you a new credit report.

Hope this answers your question
LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.

2008-08-02 13:43:00 by crypticalz@ymail.com