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SB17-216

Sunset Continue Fair Debt Collections Act

Concerning continuation of the regulation of collection agencies under the 'Colorado Fair Debt Collection Practices Act', and, in connection therewith, implementing the recommendations of the 2016 sunset report of the department of regulatory agencies.
Session:
2017 Regular Session

Sunset Process - Senate Judiciary Committee. The bill implements the recommendations of the sunset review and report on the continuation of the 'Colorado Fair Debt Collection Practices Act' (Act) by:

  • Continuing the Act through 2028;
  • Defining what is expected of a collection agency that purchases, sells, or attempts to collect on a purchased debt;
  • Clarifying that when a collection agency attempts to collect on a debt, the Act applies, by removing language from the definition of 'debt';
  • Clarifying that the statute of limitations for private actions and actions by the administrator of the Act is 4 years;
  • Repealing the collection agency board; and
  • Allowing consumers who have monetary judgments against a collection agency to access surety bond funds.
    (Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

Bill Text

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