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What are the Arizona statue of limitations for collecting auto loan debts?

In: Auto Loans and Financing, Personal Finance, Credit and Debit Cards, Loans, Debt Collection, Statutes of Limitations, Money Management [Edit categories]

Answer:

Statute of limitations vary from loan agreement to loan agreement.
In Arizona, the SoL:

Oral agreement........3 years
Written contracts.....6 years
Promissory notes.....5 years
Open accounts.........3 years

Credit cards are considered open accounts while auto loans are considered as written contracts.

If a lawsuit has been filed, the SoL is different.
The judgment demand SoL in Arizona is 10 years, but can be renewed.

I suggest you talk to an attorney.

First answer by Sonoran. Last edit by Sonoran. Contributor trust: 0 [recommend contributor ]. Question popularity: 1 [recommend question].

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