Title 5, Consumer Credit Code
0 chapters · 368 sections in this title.
Colo. Rev. Stat. § 5-5-101 Short title
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This article shall be known and may be cited as the Uniform Consumer Credit Code - Remedies and Penalties. Source: L. 2000: Entire article R&RE, p. 1233, � 1, effective July 1. Editor's note: This section is similar to former � 5-5-101, as it existed prior to 2000.
Colo. Rev. Stat. § 5-5-102 Scope
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This part 1 applies to actions or other proceedings to enforce rights arising from consumer credit transactions. Source: L. 2000: Entire article R&RE, p. 1233, � 1, effective July 1. Editor's note: This section is similar to former � 5-5-102, as it existed prior to 2000.
Colo. Rev. Stat. § 5-5-103 Restrictions on deficiency judgments in consumer credit sales
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(1) This section applies to a consumer credit sale of goods or services. A consumer is not liable for a deficiency unless the creditor has disposed of the goods in accordance with the provisions on the disposition of collateral of the Uniform Commercial Code contained in part 6 o…
Colo. Rev. Stat. § 5-5-104 Insecurity and impaired collateral
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(1) If a creditor takes possession of any collateral because the creditor deems himself or herself insecure or because the creditor feels his or her collateral is impaired, and the creditor fails to prove that, at the time possession was taken, the creditor, in good faith, had re…
Colo. Rev. Stat. § 5-5-105 No garnishment before judgment
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Prior to entry of judgment in an action against the consumer for debt arising from a consumer credit transaction, the creditor may not replevin goods, except motor vehicles, of the consumer with the use of force from a dwelling upon an ex parte order of court or attach unpaid ear…
Colo. Rev. Stat. § 5-5-106 Limitation on garnishment - definitions
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(1) For the purposes of this part 1: (a) Disposable earnings means that part of the earnings of an individual remaining after the deduction from those earnings of amounts required by law to be withheld. (b) Garnishment means any legal or equitable procedure through which the earn…
Colo. Rev. Stat. § 5-5-107 No discharge from employment for garnishment
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No employer shall discharge an employee for the reason that a creditor of the employee has subjected or attempted to subject unpaid earnings of the employee to garnishment or like proceedings directed to the employer for the purpose of paying a judgment arising from a consumer cr…
Colo. Rev. Stat. § 5-5-108 Extortionate extensions of credit
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(1) If it is the understanding of the creditor and the consumer at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property …
Colo. Rev. Stat. § 5-5-109 Unconscionability - inducement by unconscionable conduct - unconscionable debt collection
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(1) With respect to a transaction that is, gives rise to, or leads the consumer to believe will give rise to a consumer credit transaction, if the court as a matter of law finds: (a) The agreement or transaction to have been unconscionable at the time it was made, or to have been…
Colo. Rev. Stat. § 5-5-110 Notice of right to cure
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(1) With respect to a consumer credit transaction, after a consumer has been in default for ten days for failure to make a required payment and has not voluntarily surrendered possession of goods or the mobile home that are collateral, a creditor may give the consumer the notice …
Colo. Rev. Stat. § 5-5-111 Cure of default
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(1) With respect to a consumer credit transaction, except as provided in subsection (2) of this section, after a default consisting only of the consumer's failure to make a required payment, a creditor, because of that default, may neither accelerate maturity of the unpaid balanc…
Colo. Rev. Stat. § 5-5-112 Attorney fees
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(1) With respect to a consumer credit transaction, the agreement may provide for the payment by the consumer of reasonable attorney fees not in excess of fifteen percent of the unpaid debt after default and referral to an attorney not a salaried employee of the creditor or such a…
Colo. Rev. Stat. § 5-5-201 Effect of violations on rights of parties
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(1) If a creditor has violated the provisions of this code applying to limitations on the schedule of payments or loan term for supervised loans contained in section 5-2-308 or authority to make supervised loans contained in section 5-2-301, the consumer is not obligated to pay t…
Colo. Rev. Stat. § 5-5-202 Civil liability for violation of disclosure provisions
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(1) Except as otherwise provided in this section, a creditor who, in violation of the provisions on disclosure contained in section 5-3-101, other than the provisions on advertising, fails to disclose information to a person entitled to the information under this code is liable t…
Colo. Rev. Stat. § 5-5-203 Consumer's right to rescind certain transactions
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In the case of a consumer credit transaction with respect to which a security interest is retained or acquired in any property that is used as the principal dwelling of the person to whom credit is extended, the consumer shall have the same right to rescind the transaction as pro…
Colo. Rev. Stat. § 5-5-204 Interests in land
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For purposes of the provisions on civil liability for violation of the disclosure provisions contained in section 5-5-202 and on a consumer's right to rescind certain transactions contained in section 5-5-203, consumer credit transaction includes a transaction primarily secured b…
Colo. Rev. Stat. § 5-5-205 Refunds and penalties as set-off to obligation
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Refunds or penalties to which the consumer is entitled pursuant to this part 2 may be set off against the consumer obligation and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by said sections. Source: L. 2000: Entire art…
Colo. Rev. Stat. § 5-5-206 Civil liability for discrimination
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If a person has failed to comply with section 5-3-210, the person aggrieved by such failure to comply has a right to recover actual damages from such person but in no event less than one hundred dollars for actual and exemplary damages nor more than one thousand dollars for actua…
Colo. Rev. Stat. § 5-5-301 Willful violations
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(1) A supervised lender who willfully makes charges in excess of those permitted by the provisions of this code commits a class 2 misdemeanor. (2) A person, other than a supervised financial organization, who willfully engages in the business of making supervised loans without a …
Colo. Rev. Stat. § 5-5-302 Disclosure violations
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(1) A person commits a class 2 misdemeanor if such person willfully and knowingly: (a) Gives false or inaccurate information or fails to provide information that such person is required to disclose under the provisions of this code on disclosure and advertising or of any related …