Truth In Lending Act – Understanding Your Consumer Rights

Truth In Lending Act – Understanding Your Consumer Rights The Truth in Lending Act (TILA) was intended as a consumer protection against lenders lying or otherwise altering agreed upon terms. TILA requires lenders to fully disclose the terms of the credit being offered including full transparency concerning: (1) interest rates (2) the amount/percentage required to satisfy the […]

Six Year Statute of Limitations for Collecting on Credit Card Debt

Six Year Statute of Limitations for Collecting on Credit Card Debt In 2011, Arizona Governor Jan Brewer signed HB 2412 into law, amending A.R.S. § 12-548 and increasing the statute of limitations for credit card debt from three years to six years. According to the statute, credit card debt “must be prosecuted within six years […]

Fair Debt Collection Practices Act (FDCPA) – Understanding Your Rights

Fair Debt Collection Practices Act (FDCPA) – Understanding Your Rights The purpose of the Federal Fair Debt Collection Practices Act (FDCPA) is to “eliminate abusive debt collection practices by debt collectors, to insure that those debt collectors who refrain from using abusive debt collection practices are not competitively disadvantaged, and to promote consistent State action […]

Arizona Supreme Court provides clarification on Statute of Limitations on a Collection Lawsuit

Arizona Supreme Court provides clarification on Statute of Limitations on a Collection Lawsuit Arizona Supreme Court provides clarification on Statute of Limitations on a Collection Lawsuit. Mertola v. Santos: S.Ct. of AZ Arizona statutes allow a debt collector six years to file suit on an outstanding debt (See A.R.S. Section 12-548(A)(2)). The question at issue […]