This handbook describes the Fair Debt Collection Practices Act (FDCPA) and discusses how to negotiate with debt collectors and creditors. The handbook is divided into 4 sections. Section 1 briefly describes how consumer credit got started. Section 2 describes how to deal with debt collectors. Section 3 provides a detailed overview of the FDCPA. Finally, Section 4 is a journal for you to use to document your communicatioins with debt collectors.
Colorado Fair Debt Collection Practices Act Handbook
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US-DCPA-23
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FAQ
The most frequent violation under the Colorado Fair Debt Collection Practices Act Handbook involves debt collectors using misleading or deceptive practices. These can include false statements about the amount owed or misrepresentation of the legal status of the debt. It's important to understand your rights and recognize these violations to protect yourself. Familiarizing yourself with the Handbook can help you identify these tactics.
Colorado puts a limit on how long creditors can seek to collect on old debts. These statutes of limitations range from Three Years for certain contracts to 20 years for District Court judgments. (An attorney can answer questions about specific cases.)
7 Most Common FDCPA ViolationsContinued attempts to collect debt not owed.Illegal or unethical communication tactics.Disclosure verification of debt.Taking or threatening illegal action.False statements or false representation.Improper contact or sharing of info.Excessive phone calls.
Your credit card debt, auto loans, medical bills, student loans, mortgage, and other household debts are covered under the FDCPA.
What are debt collectors not allowed to do?Contact you at your workplace or via social media.Give you incorrect or misleading information.Contact you outside the hours of 8am-9pm on working days or at all on weekends and holidays.Tell other people such as family about your debt situation.More items...
Among the insider tips, Ulzheimer shared with the audience was this: if you are being pursued by debt collectors, you can stop them from calling you ever again by telling them '11-word phrase'. This simple idea was later advertised as an '11-word phrase to stop debt collectors'.
In Colorado, most types of debt have a statute of limitations of six years. The exception is debt on your auto loan, which has a statute of limitations of just four years. Once the statute of limitations passes, the debt becomes time-barred.
Colorado ExemptionsHomestead $75,000, or $105,000 if the debtor, spouse, or a dependent living in the home is age 60 or older or disabled. Personal property $2,000 in clothing, $2,500 in jewelry, $3,000 in household goods, and more.
Colorado puts a limit on how long creditors can seek to collect on old debts. These statutes of limitations range from Three Years for certain contracts to 20 years for District Court judgments.
Also, under Colorado law, from June 29, 2020, through June 1, 2021, up to $4,000 cumulative in a depository account or accounts in a debtor's name is exempt from levy and sale under a writ of attachment or execution. If you live in Colorado, several laws protect you from abusive or overreaching debt collection tactics.
