IC System is collecting auto loan debt in Colorado where the statute of limitations is 6 years. Average auto loan debt: $23,792. Garnishment limit: 25% or amount exceeding 40x federal min wage.
6 years
Statute of Limitations
$23,792
Average Auto Loan Debt
25% or amount exceed
Garnishment Limit
Known IC System Violations
Reporting unverified debts to credit bureaus
Continuing collection after dispute without validation
Using misleading language about legal consequences
Dispute Strategies
Challenge deficiency balance after repossession
Verify the sale was commercially reasonable (UCC requirement)
Dispute if proper repossession notice wasn't given