Based in Virginia Beach, Virginia, Kinum Collection Agency is a fully licensed and insured entity, authorized to conduct debt recovery across all 50 states and Puerto Rico. The agency is compliant with HIPAA, FDCPA, and GLBA standards, making it a trusted choice for various sectors, including medical professionals, businesses, government entities, and educational institutions. Kinum is known for its high recovery rates, achieved through a respectful and compassionate approach towards debtors, which also serves to safeguard the reputation of their clients during the collection process.
Contact us for your recovery needs
Kinum Collection Agency is known for its specialized approach to debt recovery. Some of their key features include:
- Client-Centric Approach: They prioritize maintaining client relationships while encouraging prompt debt recovery.
- Diverse Debt Handling: Kinum handles a variety of debts, including medical, business, student, commercial and consumer debts.
- Multiple Phases of Collection: They offer a phased approach to debt collection, starting with gentle reminders and escalating to more direct collection efforts as needed.
- Legal Involvement: In cases where standard collection efforts are unsuccessful, Kinum can escalate to legal action.
Virginia Collection Laws
Virginia has specific laws governing debt collection, designed to protect both consumers and creditors.
- Statute of Limitations: In Virginia, the statute of limitations for debt collection varies depending on the type of debt. For written contracts, it’s typically 5 years, and for open accounts (like credit cards), it’s 3 years. Once this period expires, a creditor can no longer file a lawsuit to collect the debt.
- Judgments: If a creditor wins a lawsuit for debt collection, the judgment is valid for 10 years and can be renewed for another 10 years. This means the creditor can attempt to collect the debt for up to 20 years.
- Wage Garnishment: Virginia allows wage garnishment as a means of debt collection. However, there are limits to how much can be garnished. Under federal law, the lesser of 25% of the debtor’s disposable earnings or the amount by which their weekly wages exceed 30 times the federal minimum wage can be garnished.
- Exemptions: Certain types of income and assets are exempt from garnishment in Virginia. This includes Social Security benefits, unemployment benefits, child support, and more.
- Debt Collection Licensing: Virginia requires debt collectors to be licensed. This ensures that they are compliant with state laws and regulations.
- Harassment and Abuse: Similar to the FDCPA, Virginia law prohibits debt collectors from using abusive, deceptive, or unfair practices. This includes harassment, making false statements, and using unfair practices in attempts to collect a debt.
- Debt Validation:Collectors must send a written “validation notice” to the debtor within five days of first contacting them. This notice must include the amount of debt, the name of the creditor, and a statement that the debtor has 30 days to dispute the debt. If a debtor disputes a debt in writing within 30 days of receiving the validation notice, the collector must stop collection efforts until they have provided the debtor with verification of the debt.
- Communication Restrictions: Debt collectors are restricted in when and how they can contact debtors. For example, they are not allowed to contact debtors at inconvenient times or places without permission.
- Virginia Fair Debt Collection Practices Act (VFDCPA): Virginia has its own version of the FDCPA, which provides additional protections to consumers. It’s important to ensure that collection practices comply with both federal and state regulations.
- Attorney Representation: If a debtor has an attorney representing them regarding the debt, the debt collector must communicate with the attorney rather than the debtor, unless the attorney fails to respond to the collector’s communications.