FCRA written contract (auto loans) question?
If you defaulted on an auto loan in oklahoma where the statute of limitations on written contracts is 5 years, but purchased the car in an other state where the SOL is 6 years (colorado), and it has been 5 years and 7 months since last activity from original creditor, a "junk debt" collection agency has to use the SOL from the state the loan was defaulted in right, or the state you currently live in? ...which is Oklahoma. The collection agency is located in PA.
When it involves multiple states, you follow the US UCC laws. That states the creditor may use either your current or former state, whichever is to their advantage. The location of the Collection Agency is redundant.
But you need to carefully read the contract you signed, as many times there is wording that will outline who has jurisdiction, and may have added some other nasty terms..
