Forums
I had previously thought the SOL for my state (AZ) was 6 years for credit card debt. Upon a recent search though, I'm seeing that many sources are saying that it's actually 3 years. This is typical of the info that I'm getting:
"Open Account (credit card): 3 years
Written Contract: 6 years (4 years if outside state)"
So would a charged off account still count as open according to this? Or does it fall under the 6 year written contract?
Hi Mike,
Mostly credit card debts fall under open contracts. Hence, in accordance with that the SOL for your debt in Arizona should be 3 years.
Mike, yes it is three years. I pulled it up myself and looked. If you have an account that is in collections you will need to pull your credit rep ort and look at when the last payment was made on the account. Count three years from that date. If you look at your report the original creditor should be listed on there (along with the most recent collector). The original creditor should list the account thirty days late since..and give a date. Thats a goes starting point when trying to figure out if the statute of limitations will apply in your case.
ugly duckling
I bought a car in 1998. Drove it 2 weeks; it broke down. I couldn't afford to fix it and make payments. So I volunteered a repo on it,
I purchased it for 7000.00 Now Jan 2010. Just now said I owe 19,000 Is ther a sol on this
Judgements
Is there a status of limitations on judgements in arizona? Thank you
statute of limitations
Hi Dave:
As far as I understand there is no Statute of Limitations (SOL) on a car repossession, because generally vehicle is considered to be a secured debt. Until you make payments, the lender legally owns the car. However, if you had taken out a vehicle loan, it will fall under the a written contract and SOL is applicable on written contracts.
Terri:
Yes, there is Statute of Limitations (SOL) on judgments in Arizona. For domestic judgment the SOL is 5 years, and for foreign judgments it is 4 years.
Hope this helps.
Regards,
Aaron
5 years is correct but judgments in AZ (as most states) can be renewed so it go forever practically
A statute of limitations on Judgments is showing 10 years, it might be renewable, thus going 20 years. You need to call your local court house to confirm this though.
A judgment can stop you from future mortgage loans, lenders will require these to be paid if you want a home loan. Even if it expires off of the consumer credit report in 7 years on the short report, it can show indefinitely on a FULL report. Full credit reports can be pulled for these reasons:
Mortgage exceeding $150,000
Insurances exceeding $150,000
Employment income exceeding $75,000
Also even if it comes off of the report, some lenders will do a public record search and know of its existence.
auto debt over 10yrs
How do I get the debt collectors off my case its been over 10yrs? I purchased the truck in CA now live in AZ. They keep selling the dept and it seems to start over and over
Automobile Reposession
I had a car reposessed back in 1998. I was self employed for 11 years. I just started a new job a month ago. I just got first full check and my wages were garnished. Is there a Statute of limitations in the state of arizona?
xsCItCezydbLS
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