Agreement Accounts Receivable With Credit Card In Virginia

Q: What is the Virginia state law on debt collection?

Virginia&#039;s fair debt collection law makes it a crime for debt collectors to send documents simulating legal process. The federal Fair Debt Collection Practices Act (FDCPA) (15 U.S.C. 1692 and following) regulates debt collectors. The FDCPA protects consumers from unfair and deceptive debt collection practices.

Q: What is the 11 word phrase to stop debt collectors?

The phrase in question is: Please cease and desist all calls and contact with me, immediately. These 11 words, when used correctly, can provide significant protection against aggressive debt collection practices.

Q: Does Virginia require debt collectors to be licensed?

Virginia is considered an open border state and does not impose collection licensing or bonding requirements for creditors, debt purchasers or collection agencies.

Category:

Contracts - Factoring

State:

Multi-State

Control #:

US-00037DR

Format:

Instant download

Description

The Agreement Accounts Receivable with Credit Card in Virginia is designed to facilitate the assignment of accounts receivable between a seller and a factoring entity. The form outlines the responsibilities of both parties, including the assignment of receivables, sales and delivery of merchandise, and credit approval protocols. It emphasizes that the factor assumes the credit risk on purchased receivables while defining client obligations to adhere to established credit limits. The agreement requires the client to provide regular financial statements and allows the factor to collect accounts directly. Critical filling and editing instructions include completion of names, addresses, and specific terms related to fees and commissions, ensuring clarity for both parties. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in business financing, as it enables smooth commercial transactions and provides legal protection through clear terms and conditions.

Difference between factoring and assignment

View this form

Accounting for equipment finance agreement

View this form

Small Business Startup Package for Sole Pr...

View this form

Facilities and Service Agreement between S...

View this form

Form popularity

FAQ

The list of states that do not require a license for debt collection are: Georgia. Kansas. Kentucky. Michigan. Missouri. Montana. New Hampshire. New York.

Virginia's fair debt collection law makes it a crime for debt collectors to send documents simulating legal process. The federal Fair Debt Collection Practices Act (FDCPA) (15 U.S.C. § 1692 and following) regulates debt collectors. The FDCPA protects consumers from unfair and deceptive debt collection practices.

The phrase in question is: “Please cease and desist all calls and contact with me, immediately.” These 11 words, when used correctly, can provide significant protection against aggressive debt collection practices.

Virginia is considered an “open border” state and does not impose collection licensing or bonding requirements for creditors, debt purchasers or collection agencies.

§ 2.2-4800. Policy of the Commonwealth; collection of accounts receivable. This chapter establishes the policy of the Commonwealth as it relates to the accounting for, management and collection of all accounts receivable due to the Commonwealth.

§ 2.2-4000. Short title; purpose The purpose of this chapter is to supplement present and future basic laws conferring authority on agencies either to make regulations or decide cases as well as to standardize court review thereof save as laws hereafter enacted may otherwise expressly provide.

In California, most credit card companies and their debt collectors have only four years to do so. Once that period elapses, the credit card company or collector loses its right to file a lawsuit against you.