Colorado Credit Laws
| INTEREST RATE | (Legal:8%) | Judgment 8% or contractual |
| STATUTE OF LIMITATIONS | (In Years) |
Open Acct: 6 - Written Contract 6 (signed promissory note) - Written Contract Goods Services: 3 - Domestic Judgment District Court 20 (renewable every 20) County Court - 6 (renewable every 6) - Foreign Judgment 6 in CO |
| BAD CHECK LAWS | (Civil Penalty) | Treble Damages & Reasonable Fees |
| GENERAL GARNISHMENT EXEMPTIONS | See federal law | |
| HOMESTEAD EXEMPTION | The Colorado homestead exemption is $45,000, if the residence is occupied. The sale proceeds are exempt for up to one year. Exemption only while occupied. Said property, when so homesteaded, shall only be exempt as provided in this part 2 while occupied as a home by the owner thereof or his family. A deceased debtors spouse or child may claim the homestead exemption. A house trailer or coach used as a residence is exempt. A mobile home up to $6,000 in value is exempt. | |
| ADDING FEES | A debt collector or collection agency shall not use unfair or unconscionable means to collect or attempt to collect any debt, including, but not limited to, the following conduct: The collection of any amount, including any interest, fee, charge, or expense incidental to the principal obligation, unless such amount is expressly authorized by the agreement that created the debt or permitted by law. |