Colorado Statute of Limitations on Debt Collection

A statute of limitation is a law that is different for each state and this law establishes a set time limit from when a breach of contact happens to when a lawsuit can be filed to force the debt to be paid. Before a consumer agrees to pay off their debt, they should check what the statute of limitations is for their state to ensure that the debt is still due and payable. In Colorado:

• All contract actions, which include personal contracts and actions under the UCC: 3 years (C.R.S. 13-80-101), unless stated otherwise in 13-80-103.5; All claims under the Uniform Consumer Credit Code, except for sections 5-5-201(5); All actions to recover, detain or convert goods or chattels, unless otherwise stated in section 13 -80-103.5.
• Liquidated debt and unliquidated determinable amount of money due; Enforcement of instrument securing the payment of or evidencing any debt; Action to recover the possession of secured personal property; Arrears of rent: 6 years, (C.R.S. 13-80-103.5)

If you want to get any more information or if you have questions about the Statute of Limitations in Colorado, contact The Consumer Advocacy Center at 312-782-5808.