Collecting debt in Virginia: licensing, bonds and statutes of limitations.

“In actions on any contract that is not otherwise specified and that is in writing and signed by the party to be charged thereby, or by his agent, within five years whether such writing be under seal or not”

“In actions upon (i) any contract that is not otherwise specified and that is in writing and not signed by the party to be charged, or by his agent, or (ii) any unwritten contract, express or implied, within three years.”

“an action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within six years after the due date or dates stated in the note or, if a due date is accelerated, within six years after the accelerated due date.”

“the statute of limitations for written contracts applies to credit card agreements in the situation where the agreement consists of a series of documents, provided that at least one of the documents referencing and incorporating the others is signed by the cardholder, and also provided that the written documents evidencing the agreement contain all essential terms”

The statute is silent on credit cards except for accrual (§ 8.01-249(8)). The split is signed writing (5 years, A.2) versus unsigned writing or unwritten contract (3 years, A.4). No Virginia appellate decision classifying credit-card debt was located by either pass; the Attorney General's advisory opinion 10-128 (non-binding) says 5 years applies only where a cardholder-signed document incorporates the other terms and the writings contain all essential terms, and otherwise (n.15) a court 'would ... apply the three-year statute of limitations for unwritten contracts.' Because most card agreements are not signed by the cardholder, 3 years is the default, with 5 years possible on a signed agreement. Smith Development v. Conway (Va. Ct. App. Jan. 9, 2024) n.5 confirms the 3-year period applies to unsigned written contracts.

“No execution shall be issued and no action brought on a judgment dated on or after July 1, 2021 ... after 10 years from the date of such judgment or domestication of such judgment, unless the period is extended as provided in this section”

“upon any contract under subdivision A 2 or 4 to collect medical debt, such an action is barred if not commenced within three years from the due date applicable to the final invoice for a health care service unless the contract with a hospital or health care provider is for a payment plan that allows for a longer period”

Applies to written and unwritten medical-debt contracts alike; on breach of a payment plan, 3 years from the breach. 'Medical debt' means debt arising directly from a health care service and originally owed directly to the provider; DMAS-program debt excluded. History: 2019, c. 241; 2024, c. 800. The Medical Debt Protection Act (Va. Code §§ 59.1-611 to 59.1-613, 2025 c. 692) limits interest to 3 percent after a 90-day grace period, bars extraordinary collection actions for financial-assistance-eligible patients and requires a 120-day wait plus 30-day notice before such actions; it does not change the limitations period.