statute of limitation co vs az moved

[brown99]

most of my debt was initiated in colorado and now i live in arizona. since i opened these accounts in colorado do the creditors have the option to
use the state of colorado statute of limitation or do they have to abide
by arizonas statute. because i am being sued by best buy and the card
was opened in colorado and the last time i used it was in arizona over
3 years ago and the statute is 6 years in colorado and 3 in arizona .
i answered the summons by saying the statute of limation is expired.
will that hold up or can the judge allow the colorado statute.i am wondering
if i should just file chpt 7 or not also because all of this debt is over 4 years old with no account activity . thanks so much with any replys

[HHM]

You need to check the credit agreement.

Generally, statute of limitations is not a good way to deal with debt as it is ONLY a defense to a lawsuit. Creditors can use non-judicial collection efforts (so long as they don't threaten legal action) well past the SOL. Also, relying on the SOL does nothing to improve your credit as your accounts will still be reported negatively.

I would suspect that the SOL would be the state of origin of the credit account (in your case, CO), but usually the credit agreement will contain stipulations regarding juridiction and SOL.