Once again, Attorney Beth Findsen in Scottsdale, Az has employed her considerable legal skills to create a crack in judicial doctrine regarding the application of the statute of limitations. In this case the decision was mostly restricted to credit card debt — so far. The Court referenced other kind of debt and said it is not addressing that yet.
In this case the Supreme Court of Arizona ruled that for credit card debt (and potentially others) the cause of action on the entire debt arises at the time of default and not when the creditor exercises its option to accelerate. But the Court goes further and states that contrary to other decisions the statute of limitations runs on the entire debt starting from the date of default.
The decision makes perfect logical sense. The vast majority of lawyers in the nation completely disagree with the courts who in foreclosure cases have essentially ruled that there is no statute of limitations on foreclosures for all practical purposes. This Arizona decision reads like Ms. Findsen’s style of writing — inexorable in its logic.


