Commercial Debt Collection Laws in Ashburn
Located in the northern region of Virginia is the city of Ashburn, with a population of more than 43,000 residents. Sitting approximately 30 miles northwest of Washington, D.C., Ashburn is part of the 6.3 million populated Washington metropolitan area.
Commercial Debt Collection Laws
Commercial debt is something that many companies have issues with in the United States. This is especially relevant in small cities like Ashburn. However, the city implements several commercial debt collection laws similar to the state of Virginia.
The legal and judgment interest rate is 6 percent and the Statute of Limitations for business debt cases include:
- Written contracts: 5 years
- Open accounts: 3 years
- Oral contracts: 3 years
- Implied contracts: 3 years
- Judgments: 10–20 years
Visit our Commercial Debt Collection Laws by State page for more information on your state’s commercial debt collection laws.
History of Ashburn
The area of Ashburn has been part of the United States for more than two centuries and was originally called “Farmwell.” In the 19th century, Ashburn was part of a 580-acre tract known as the “Ashburn Farm.”
Ashburn covers 15.5 miles of land mass and sits nearly 300 feet above sea level. Despite it’s relatively small size to the neighboring Washington D.C., Ashburn is home to several high-level tech companies.
Some of the largest corporations in Ashburn include:
- Verizon Business
- Wikimedia Foundation data center
- Amazon Web Services data center
- Airbus Group, Inc.
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