What is the statute of limitations charge off auto loans in Virginia?

In Virginia the state’s statute of limitations on debt is three (3) years for written or oral contracts, with a statute in repose for auto loans of five (5) years. This means Virginia allows creditors three years from the date of default to file a cause of action to recover a debt. Five years from the date of charge-off, any debt, regardless of the original debt amount is considered uncollectible by both the Fair Debt Collection Practices Act and the Virginia Consumer Protection Act.