Debt collection is the process by which a person or entity who is owed money or property seeks payment for the debt. Debt collection may be performed by the person or entity who is owed the debt (the creditor), or may be performed by a third-party debt collector hired by the creditor to collect the debt on behalf of the creditor. Sometimes creditors sell the debt to another entity at a discounted value, and the entity that purchases the debt becomes the creditor.

Debts that are often the subject of debt collection efforts include (1) credit card debt; (2) car or auto loan debt; (3) medical debt; (4) student loan debt; (5) unpaid utility and telephone bills; and (6) personal loan debt.

If you owe money, you have a legal obligation to repay it. But state and federal laws—such as the Fair Debt Collection Practices Act—prohibit debt collectors from using deceptive or abusive behavior to collect the debt.

In Virginia, debt collection is regulated by both state statutes and federal law. The Fair Debt Collection Practices Act (FDCPA) is a federal law that sets national standards for the collection of debts, prohibiting deceptive, abusive, or unfair debt collection practices. It applies to third-party debt collectors who are collecting on behalf of another creditor, and it provides consumers with certain rights, such as the right to request validation of the debt and the right to stop debt collectors from contacting them under certain conditions. Virginia also has its own set of laws that govern debt collection practices within the state. These laws complement the FDCPA and may offer additional protections. For example, Virginia's Consumer Protection Act prohibits fraudulent or deceptive practices in consumer transactions, which can include debt collection. Creditors and debt collectors in Virginia must adhere to these regulations when attempting to collect debts such as credit card debt, auto loans, medical debt, student loans, utility bills, and personal loans. Consumers who believe their rights have been violated can file a complaint with the Virginia Attorney General's Office or seek legal recourse through the courts.