My question involves collection proceedings in the State of: Arizona
I am aware that Arizona amended a statute concerning the SOL of credit card debt. My question is whether the following revised statute applies to debt that was outside the SOL prior to the amendment.
"Arizona Revised Statutes - Title 12 Courts and Civil Proceedings - Section 12-505 Effect of statute changing limitation
12-505. Effect of statute changing limitation
A. An action barred by pre-existing law is not revived by amendment of such law enlarging the time in which such action may be commenced.
B. If an action is not barred by pre-existing law, the time fixed in an amendment of such law shall govern the limitation of the action.
C. If an amendment of pre-existing law shortens the time of limitation fixed in the pre-existing law so that an action under pre-existing law would be barred when the amendment takes effect, such action may be brought within one year from the time the new law takes effect, and not afterward.