I took out loans through Discover Bank (under their subsidiary SLC) between 2009-2012 in the state of New York. I defaulted on these loans November of 2015. I have not had any correspondence, nor have I made payments with Discover Bank (SLC no longer exists, completely absorbed) or an affiliated debt collector since November of 2015. Loan has been charged off since January of 2016
From what I've read, Discover operates out of Delaware and their choice of law clause dictates that in legal situations, they (and I) will use Delaware law for all matters. The SOL of Delaware is 3 years, meaning in NY or MA, I would be beyond the SOL for these loans and they could not seek legal action me regarding them.
Both NY and MA also incorporate borrowing statute of limitations laws if legal proceedings are brought against a resident, in which case they will use the lowest SOL between the resident's state and OC's state laws.
My co-signer received a letter from a law firm Rausch Sturm notifying him of a debt owed to Discover Bank and the amount owed. No dates were mentioned other than in the letter head for when they printed it. Within that letter, there was nothing suggesting they were seeking legal action.
Are there any particulars are may be overlooking in this case? Are these loans legally enforceable almost 5 years later?