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Statute of Limitations

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Court of Appeals (Az.) Finds Repossession of Vehicle, Not Internal “Charge-off”, Constituted Affirmative Act to Commence Statute of Limitations on Automobile Finance Debt

by Scott J. Hyman |

In Baseline Financial Services v. Madison, --- P.3d ----, 2012 WL 1999690 (Ariz. App. 2012), the Arizona Court of Appeals held that an automobile finance company’s internal ‘charge off’ of the obligation for non-payment did not commence the statute of limitations on the debt.  Rather, based on a survey of out-of-state cases, the Court of Appeals held that repossession is… Read More