Legal Question in Credit and Debt Law in Virginia

Re: statue of limitation

The statute (not "statue") of limitations is an affirmative defense; i.e., use it or lose it - it must be affirmatively stated in writing as part of the pleading filed in response to the civil action or it is lost. What that means is that someone can sue you for a stale claim and still win, especially if you were properly served but for some reason failed to appear in court to defend your interests.

Application to a debt: it depends on how the debt arose: three years on an oral agreement; four years on a promissory note or check; five years on a written contract; and no application to suits in equity for restitution (although the chancery doctrine of laches accomplishes the same thing, but with less definite terms).