Colorado § 5-20-207 Bankruptcy or death of cosigner

Colorado Statutes

§ 5-20-207 — Bankruptcy or death of cosigner

Colorado·Title 05 Consumer·Art. Colorado Student Loan Equity

(1)If a cosigner dies, the creditor shall not attempt to collect against the cosigner's estate other than for payment default.

(2)With regard to the death or bankruptcy of a cosigner, if a private education creditor is not more than sixty days delinquent at the time the creditor is notified of the cosigner's death or bankruptcy, the creditor shall not change any terms or benefits under the promissory note, repayment schedule, repayment terms, or monthly payment amount or any other provision associated with the credit obligation.

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(1) If a cosigner dies, the
creditor shall not attempt to collect against the cosigner's estate other than for
payment default.

(2) With regard to the death or bankruptcy of a cosigner, if a private
education creditor is not more than sixty days delinquent at the time the creditor is
notified of the cosigner's death or bankruptcy, the creditor shall not change any
terms or benefits under the promissory note, repayment schedule, repayment
terms, or monthly payment amount or any other provision associated with the credit
obligation.

Colorado § 5-20-207 (Bankruptcy or death of cosigner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2021: Entire part added, (SB 21-057), ch. 378, p. 2523, � 5, effective June 29. L. 2023: Entire section amended, (SB 23-248), ch. 360, p. 2161, � 22, effective August 7.