Debt Settlement which is also known as debt negotiation, is when our attorneys negotiate a settlement on your debts on behalf of you as our client. Most of the time Go Debt Relief can greatly reduce the monthly payments of our Colorado clients, and can typically settle our Colorado clients debt for between 40 and 50% of what they owe. The amount of money you will save with our debt settlement program is amazing. Debt settlement is the quickest and cheapest debt relief, debt reduction or debt help available to everyone throughout Colorado.
Important Colorado Debt Settlement and Debt Consolidation Laws.
(Note: This is only to be used as an informational debt resource for residence of Colorado and should not be considered and does not constitute legal advice. If you are looking for legal advice contact a licensed attorney in Colorado)
Debt Collection
Colorado (CO) works in accordance with the federal laws in dealing with collection agencies and or law firms that collect debts. These laws are known as the Fair Debt Collection Practices Act (FDCPA). More information about the FDCPA can be found here.
-Debt Collectors must identify who they are within the first 60 seconds of you answering the phone call.
-Debt Collectors must provide a receipt for any payments made from the debtor to the creditor.
-If the debtor requests a written account statement, the creditor or collection agency must provide the debtor with a statement within 10 days. The statement must include the creditors name the debtor’s name, amounts paid, dates paid. They must also detail when the payment was received and a break down of the payments allocation such as interest, principle, fees, ect.
Initial communication form a collection agency to a consumer must include the following statement:
"FOR INFORMATION ABOUT THE COLORADO FAIR DEBT COLLECTION PRACTICES ACT, SEE WWW.AGO.STATE.CO.US/CADC/CADCMAIN.CFM".
Any complaints about collection practices contact.
Uniform Consumer Credit Code, 1525 Sherman Street, 7th Floor, Denver, CO 80203 (303) 866-4494.
- Send complaints about debt collectors and collection agencies to the Colorado Collection Agency Board, 1525 Sherman Street, 7th Floor, Denver, CO 80203, (303) 866-5304.
Maximum Interest Rate a Collection Agency can charge a debtor in Colorado is 8%
Statue of Limitations.
The Statute of limitations is the amount of time by law for a set period of time after a certain event, that legal proceedings can happen based on that event can be initiated. With debt, the statues of limitation apply to the time period after you have become past due on your payments. In other words. You are not considered delinquent based on your last payment, but rather the day that you went past due.
Oral Agreements are 6 years
Written Contracts are 6 years
Promissory Notes are 6 years
Open Accounts (credit cards) are 6 years
Bankruptcy Courts
U.S. Bankruptcy Court
721 19th St
Denver, CO 80202-2508
(720) 904-7300
Serves all of Colorado including Denver, Fort Collins and Aurora.
When dealing your old debt, it's vital to know your limits. It could be the difference between thousands of dollars in old debt or hundreds.
Once a debt passes beyond the statute of limitation in your state, a debt collection agency no longer has the right to sue you for payment.
Any debt collection agency who threatens to sue you over a debt that is beyond the statute of limitation in your state is in violation of the
Fair Debt Collection Practices Act.
If you need help with a delinquent debt, visit the Web site of the
National Association of Consumer Advocates or call us toll free 1-866-910-8091.
Contact your CT. state attorney general,
