Debt Collection, Garnishment, Repossession

questions & answers

Question: What is the Arizona statute of limitations for a car loan on a repossessed car? 4 years or 6 years? When does it start running? After the first missed payment, or after the car gets auctioned off? Some people say the S.O.L. is 4 years because it is a car loan, and falls under this law: "47-2725. Statute of limitations in contracts for sale A. An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued." Others say it is a written contract and therefore is subject to the standard 6 year S.O.L. Which one is correct?

Answer: Title 47, the Uniform Commercial Code, is applicable only to the sale of goods. A.R.S. section 47-2725 applies when a breach of contract has occurred for a sale of a good. The statute of limitations is four years and begins when the breach of contract occurred (http://www.azleg.gov/FormatDocument.asp?inDoc=/ars/47/02725.htm&Title=47&DocType=ARS.

QUESTIONS

  • What is the Arizona statute of limitations for a car loan on a repossessed car? 4 years or 6 years? When does it start running? After the first missed payment, or after the car gets auctioned off? Some people say the S.O.L. is 4 years because it is a car loan, and falls under this law: "47-2725. Statute of limitations in contracts for sale A. An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued." Others say it is a written contract and therefore is subject to the standard 6 year S.O.L. Which one is correct?

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