Commercial Debt Collection in Charleston
The capital of West Virginia is Charleston, which is also the most populated city in the state and center of government, commerce, and industry for the county seat of Kanawha County. This article will explain the history of Charleston, and how the historic city and state have come to establish commercial collection laws.
The Charleston Trade
When Charleston was first built in the early 19th century, the biggest industries in the city included trade of coal and salt, with more than 1,200 pounds of salt being produced daily. Over the years, the Charleston economy has evolved to include more utilities, government, medicine, and education industries.
In recent years, Charleston has bolstered strong economies with many companies placing headquarters in the West Virginia city. Growing companies include Appalachian Power, Charleston Newspapers, and Tudor’s Biscuit World.
As Charleston has grown economically, it’s infrastructure has also seen impressive developments; the city’s Yeager Airport is the largest airport in the state. Charleston also has a highly-developed rail service, mass transit system, and utilities service. Despite the city’s growing infrastructure and economy, there has been a steady drop in residents (WowKtv.com). What’s causing the population reduction? What happens when resident businesses accumulate debt or have to deal with the city’s commercial debt laws?
Charleston Commercial Debt
The statute of limitations is 5 years for businesses with open commercial debt accounts, and 10 years for written contracts, and domestic and foreign judgments. For more information on Charleston’s commercial debt collection laws, visit: https://psicollect.com/west-virginia/