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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 and making an appropriation.
Session:
2017 Regular Session
Subject:
Financial Services & Commerce
Bill Summary

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 a 'debt buyer' as a person who engages in the business of purchasing debt for collection purposes;
  • Creating requirements for debt collectors and collection agencies that bring legal actions on debts owned;
  • Defining what is expected of a collection agency that purchases, sells, or attempts to collect on a purchased debt;
  • Clarifying that the statute of limitations for private actions and actions by the administrator of the Act is 2 years;
  • Repealing the collection agency board; and
  • Requiring the administrator of the 'Uniform Consumer Credit Code' to prepare a report concerning the Act.
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The House will meet in limited session on Thursday, April 2nd. The Senate adjourned. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.