Arizona Credit Laws
| INTEREST RATE | (Legal: 10%) | Judgment 10% or contractual |
| STATUTE OF LIMITATIONS | (In Years) | Open Acct: 3 - Written Contract 6 in Az. - 4 outside Az. - Domestic Judgment 5-additional 5 upon request (indefinitely) - Foreign Judgment 4 |
| BAD CHECK LAWS | (Civil Penalty) | Twice the amount of check, costs of suit, reasonable attorney fees. |
| GENERAL GARNISHMENT EXEMPTIONS | See federal law. | |
| HOMESTEAD EXEMPTION | In Arizona is $150,000. The sale proceeds are exempt for 18 months after the sale. | |
| ADDING FEES | An individual, firm, partnership, association or corporation to whom a license is to be issued under this chapter shall, except for attorneys licensed to practice law, not attempt to collect any collection fee, attorney’s fee, court cost or expenses unless the fees, charges or expenses are justly due from and legally chargeable against the debtor, or have been judicially determined. | |
| NOTICE OF DISHONORED CHECK |
Drawing check or draft on no account or insufficient account with intent to defraud; civil action; definition of credit; prima facie evidence. |
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| SERVICE FEES | liability for restitution. Any person who issues a check which is not paid because the check was written on an account with insufficient funds has fifteen (15) days following the date of a written demand mailed or delivered to the drawer of the check at the address shown on the check or his or her last known address to pay to the holder of the check or his or her agent the amount of the check and a collection fee not to exceed twentyfive dollars ($25.00), plus the amount of any fees charged to the holder of the check by any financial institution as a result of the check's not being honored. |