Colorado Fair Debt Consumer Guide
Learn about your legal rights when facing Debt Collector Problems. Research the applicable laws that could help protect you when a debt collector is attempting to seize your assets, garnish your wages or continue collection of a debt that is outside Colorado's Statutes Of Limitations. Colorado phone recording laws could assist you in gathering proof of the debt collector's illegal tactics; find out whether recording your debt collector's phone conversation is permitted in your state.
The Colorado Fair Debt Collection Consumer Practices Guide summarizes Colorado's laws on wage garnishment, property and asset seizures and state statutes of limitations on debt collection and could provide the ammunition you need to stop or limit creditors and collectors from harassing you, garnishing your wages or bank accounts, and from seizing your property through liens, thus limiting your overall financial exposure.
This Guide does not include information concerning the FTC's Credit Practices Rule, state consumer protection laws or information regarding exemption provisions found in laws other than the state's general exemption laws and is not intended to substitute for the advice of an attorney.
Colorado Consumer Debt Exemption Laws
If a debt collector threatens to seize your property or your assets, you could be protected under Colorado’s Consumer Debt Exemption Laws. Read the summarized information below to learn how to protect what you own and what you cannot protect from seizure. You could significantly strengthen your bargaining position with debt collectors by knowing your rights under Colorado Debt Exemption Law!
Colorado State Debt Exemption Law
Colorado has opted out of federal bankruptcy exemptions. Colorado
Revised Statutes § 13-54-107.
Wages: Colorado Revised Statutes § 13·54·104.
Homestead: Colorado Revised Statutes §§ 38-41-201, ·201.6, -202, -207, gar -208. ins
Tangible personal property: Colorado Revised Statutes §§ 1354-101 to -103.
Benefits, retirement plans, insurance, judgments, and other intangibles: Colorado Revised Statutes §§ 13·54·102 to -103
Colorado Debt Statutes of Limitation
Your debt may have expired under Colorado’s Statutes of Limitations, and may be considered uncollectible. Read the summary below to see the length of time certain types of debt can continue to be collected under the Colorado Debt Statutes of Limitations, don’t let a collector threaten to take you to court over an expired debt.
Colorado Debt Statutes of Limitation
Domestic and foreign judgments: 6 years and renewable each six years. Note: If for child support, maintenance or arrears the judgment (lien) stays in effect for the life the judgment without the necessity of renewal every six years.
All contract actions, including personal contracts and actions under the UCC: 3 years (C.R.S. 13-80-101), except as otherwise provided in 13-80-103.5; All claims under the Uniform Consumer Credit Code, except sections 5-5-201(5); All actions to recover, detain or convert goods or chattels, except as otherwise provided in section 13 -80-103.5.
Liquidated debt and unliquidated determinable amount of money due; Enforcement of instrument securing the payment of or evidencing any debt; Action to recover the possession of secured personal property; Arrears of rent: 6 years, (C.R.S. 13-80-103.5)
Colorado Wage Garnishment Procedural Requirements
Wage garnishment doesn’t mean a debt collector or creditor is entitled to take all your money. Under Colorado’s Wage Garnishment Laws, there are limits and protections on just how much can be taken from your paycheck.
Read the summary below to learn your garnishment rights under Colorado law.
Colorado Wage Garnishment Procedural Requirements
"Writ of garnishment with notice of exemption and pending levy" means the exclusive procedure through which the personal property of any kind (other than earnings of a natural person) in the possession or control of a garnishee including the credits, debts, chooses in action, or money owed to the judgment debtor, whether they are due at the time of the service of the writ or are to become due thereafter, is required to be held for payment of a judgment debt (a "Writ with Notice"). A Writ with Notice shall be in the form and content of Colo. R. Civil. P. Form 29.
After entry of a judgment when a writ of execution may issue, a Writ with Notice shall be issued by the clerk of the court upon request. Under such writ any indebtedness, intangible personal property, or tangible personal property capable of manual delivery, other than earnings of a natural person, owed to, or owned by, the judgment debtor, and in the possession or control of the garnishee at the time of service of such writ upon the garnishee, shall be subject to the process of garnishment. Issuance of a writ of execution shall not be required before the issuance of a Writ with Notice. Service of a Writ with Notice shall be made in accordance with Colo. R. Civil. P. 4.
Following service of the Writ with Notice on the garnishee, a copy of the Writ with Notice, together with a blank copy of Colo. R. Civil. P. Form 30 shall be served upon each judgment debtor whose property is subject to garnishment by such writ as soon thereafter as practicable. Such service shall be in accordance with Colo. Rev. Statute. Ann. 1354.5107(2)* 1 Service of a Writ with Notice upon the garnishee shall give the court jurisdiction over the garnishee and any personal property of any description, owned by, or owed to the judgment debtor in the possession or control of the garnishee. Colo. R. Civil. P. 103.
Interest Rate at which Judgments Accrue Creditors shall be allowed to receive interest on any judgment recovered before any court authorized to enter the same within this Statutee from the date of entering said judgment until satisfaction thereof is made either at the rate specified in a contract or instrument in writing which provides for payment of interest at a specified rate until the obligation is paid, except that if the contract or instrument provides for a variable rate, at the rate in effect under the contract or instrument on the date judgment enters, or in all other cases where no rate is specified, at the rate of eight percent per annum compounded annually. Colo. Rev. Statute. Ann. _ 512102.
Note: Special rates apply if a judgment has been appealed. Colo. Rev. Statute. Ann. _ 512106. Furthermore, special rates apply in actions to recover damages for personal injuries. Colo. Rev. Statute. Ann. _ 1321101. Applicable Forms Colo. R. Civil. P. Form 29 Colo. R. Civil. P. Form 30 1 Service shall be made by delivering a copy of such notice to the judgment debtor personally or by leaving a copy of such notice at the usual abode of the judgment debtor with some member of his family over the age of eighteen years. In the event that personal service cannot be made, the section provides for service through publication. Such notice, with proof of service thereof, and, in the case of publication, an affidavit of publication and an affidavit of the mailing of notice shall be filed with the clerk of the court in which the judgment was entered. Colo. Rev. Statute. Ann. _ 1354.4107(2).
Colorado (Debt Collector) Call Recording Law
Under Colorado State and Federal Call Recording Laws, you could record the actual recorded conversation with a debt collector in your efforts to stop debt collectors from calling! Colorado is a one party consent state, meaning only the permission of one person on the call is necessary to record. YOU ALONE can be considered the one party to give consent, thus you do not need a debt collectors permission to record the phone conversation in the state of Colorado.
Research and find additional information about Federal Call Recording Laws and learn what call recording procedures are legal in other states.
