My question involves credit card collection proceedings in the State of: ARIZONA
Hi, I just found this forum and it looks pretty good.
Here is my situation:
I alledgedly had an old Bank of America credit card debt. I opened the account in April of 2002 and my last payment and contact with them was on 6/10/03. I have never had any contact and/or transactions with anyone regarding this alledged debt in any way whatsoever since 6/10/03.
It was charged off by BOA in about May 2004. The debt was sold several times and was acquired by the debt collector who has it now in mid-2006.
I checked my local justice courts website after getting a knock on my door last week from a guy holding papers (which I did not answer). On the website I see a civil suit was filed on 8/25/08. They are obviously trying to serve me on this.
I believe under AZ law that the Statute of limitations has run and that a defense claiming "Laches" would apply also.
I believe that a revolving, open type of account, a credit card, has a statue of limitations of 3 years in AZ.
HERE IS THE LAW FROM THE ARIZONA REVISED STATUTES:
[I]ARS 12-543. Oral debt; stated or open account; relief on ground of fraud or mistake; three year limitation.
There shall be commenced and prosecuted within three years after the cause of action accrues, and not afterward, the following actions:
1. For debt where the indebtedness is not evidenced by a contract in writing.
2. Upon stated or open accounts other than such mutual and current accounts as concern the trade of merchandise between merchant and merchant, their factors or agents, but no item of a stated or open account shall be barred so long as any item thereof has been incurred within three years immediately prior to the bringing of an action thereon.
3. For relief on the ground of fraud or mistake, which cause of action shall not be deemed to have accrued until the discovery by the aggrieved party of the facts constituting the fraud or mistake. [/I]
THERE IS ALSO THS LAW ON "WRITTEN CONTRACTS" WHICH I UNDERSTAND WOULD BE REFERRING TO BUYING A CAR OR MAJOR APPLIANCE IN MONTHLY INSTALMENTS, ETC.
ARS 12-548. Contract in writing for debt; six year limitation
An action for debt where indebtedness is evidenced by or founded upon a contract in writing executed within the state shall be commenced and prosecuted within six years after the cause of action accrues, and not afterward.
I have spoken to the Attorney Generals office and they stated that these collection companies TRY to have credit cards considered "written accounts" and then claim that they have 6 years to sue. The AG's office did not seem sure as to which view is correct and of course they cannot give legal advice.
From what I have seen, from a lot of different sources, the 3 year limit should apply in my case. I have seen a few sources thatsay the 6 year limit applies.
ANYONE HAVE ANY IDEA ON THIS?
THANKS, GREAT SITE!

