Best Answer
Copy 12-548

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.

User Avatar

Wiki User

โˆ™ 2015-07-15 18:33:37
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: Does Arizona have a deficiency judgment law for repossessed vehicles?
Write your answer...

Related Questions

If your car is repossessed in Arizona can they collect any deficiency or is the debt forgiven when they take possession?

The debt is NOT forgiven. See link below. ArizonaRevisedStatutes

Can they take income tax check if get repossession in Arizona?

They can take whatever the security for the loan was. For example, if you have an auto loan, they can repossess the auto. If you have a home loan, they can repossess the home. If the loan was a recourse loan and the value of whatever was repossessed was less than the amount still owed on the loan, they can get a deficiency judgment in a court of law. If the court grants a judgment, they can they take other assets.

What are the deficiency judgment laws in Arizona?

Arizona allows deficiency judgments, but there is one exception that allows many homeowners facing foreclosure to avoid this worry. Purchase money mortgages on one- or two-family homes on less than two-and-a-half acres will be denied deficiency judgments. However, a deficiency judgment in any case may be allowed if a court finds that the homeowners committed waste. Ariz. Rev. Stat. sections 33-741 to 33-749, 33-801 to 33-821, 12-1281 to 12-1283, 12-1566

Can a car be repo in a different state from where it was financed?

Yes, and quite often they are. It is not uncommon for vehicles to be repossessed while the family who owes on them are on vacation. I've sent agents after vehicles in Arizona and Florida for cars that were registered in Michigan, Indiana, or Ohio.

Is Arizona a non-deficiency state?


How many vehicles can you sell in Arizona without a dealers license?

The state of Arizona will let you sell four vehicles annually without a dealer license.

What are the debtor's obligations if Arizona chapter 7 secured interest is listed on car with intent to make payments no reaffirmation agreement is signed and car payment is missed and car repossessed?

If the lender repossessed the car while case was pending and you were protected by the automatic stay, the repossession was illegal and you should be able to get the park back by filing the proper motion with the court. If the case is over, you need to make the payments and have adequate insurance to keep the car if you did not sign a reaffirmation agreement. If they legally repossessed the vehicle and sold it, you are out of luck but you are free from paying any deficiency. Consult an Arizona attonrey to determine if the seizure was legal under the laws of your state.

How long does a civil judgment stay on your credit in Arizona?

7 Years

In Arizona can a judgment from a previous divorce be collected from the spouse of a new marriage?


Can a summary judgment against you in Arizona immediately seize your bank account?


In Arizona is there a deficiency balance owed by the seller on real property in a short sale?

I thought that Arizona was a non-deficiency state, but when the bank accepted my offer they alerted me that they would be coming after me for the difference between the sale price and what I owe (which is over $100k). They said that if the house was sold for less than 90% of what you owe, than they have authorization to come after you for the deficiency.

When do pedestrians have the right of way over motor vehicles in Arizona?


What is required in an assignment of judgment form in Arizona?

The laws in each state vary for the requirements on the assignment of judgment. One particular requirement in Arizona is that a notary must be present when the plaintiff signs the form, or the plaintiff must be in a clerk's office.

Does California have jurisdiction regarding a child support judgment for arrears if you move to Arizona?

The State where the judgment was entered, the State where the child[ren] live and the State where the obligor lives all have jurisdiction to enforce such a judgment.

Do Arizona ransom laws re guarding vehicles apply to police impounded?


Is a seatbelt violation in Arizona a moving violation?

I called the Arizona Motor Vehicles Department and asks them. The operator put me on hold and came back and said, "No".

Can you get a repossessed car back by filing chapter 7 or 13 bankruptcy in Arizona?

This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.

Can credit card law firm collectors garnish your wages in the state of Arizona?

Yes, if they win a lawsuit against the debtor and receive a writ of judgment they can execute said judgment as a wage garnishment.

Arizona is a non-deficiency state does this apply to mortgages?

Absolutely!!! That is the only type of loan that it applies too and it must be primary residence.

Can a person in who files bankruptcy get out of paying a court awarded judgment in Arizona?

Yes. Not if the judgment was for a case involving fraud. And the state doesn't make any difference, unless there is a state bankruptcy procedure that you are using.

In Arizona how can you determine whether your mortgage loan is a non recourse loan or a recourse loan?

Arizona has anti-deficiency laws - specifically, A.R.S. §§ 33-729(A) and 33-814(G) - that prohibit purchase-money lenders from collecting on a deficiency. However, the bad news is that the anti-deficiency protection often does not apply to second mortgages, equity lines of credit, some refinanced loans, etc. In those exceptions, generally the only relief is achieved through bankruptcy.

What is the legal age that a child can stay home alone in Arizona?

no age, its ur judgment to descide and if the child get injured its your responsibility

How long is the statute of limitations on a promissory note in Arizona?

Written contracts: 6 years, runs from date creditor could have sued account. Oral debts, stated or opens accounts: 3 years. Actions for fraud or mistake: 3 years from the date of the discovery of the fraud or mistake. Actions involving fiduciary bonds, out of state instruments and foreign judgments: 4 years. NOTE: Arizona applies its own statute of limitations to foreign judgments rather than that of the state that originally rendered the judgment whether the judgment is being domesticated under the Uniform Enforcement of Foreign Judgments Act or pursuant to a separate action on the foreign judgment. An Arizona judgment must be renewed within five years of the date of the judgment.

How can you pay a 6 yr old judgment in Arizona when the person you owe it to denies your payment in full?

Pay it through the court and get a receipt!

Who to call when needing to answer a summary judgment in Dakota Minnesota when you live in Arizona?

Well, you'll need to travel, otherwise you'll be arrested.