Collection Actions: 3.7.3.1.1 Overview
Surprisingly, the law selected in a credit contract may have a shorter limitations period than that of the forum state. For example, Chase, Bank of America, Discover, and Barclays agreements specify Delaware law, which has a three-year limitations period even for written contracts—a period significantly shorter than many other states. (On the other hand, Citi and Wells Fargo use South Dakota law, which has a six-year limitations period even for non-written contracts.)