SB 21-002

  • Colorado Senate Bill
  • 2021 Regular Session
  • Introduced in Senate Jan 14, 2021
  • Passed Senate Jan 14, 2021
  • Passed House Jan 15, 2021
  • Signed by Governor Jan 21, 2021

Extending Limitations On Debt Collection Actions

Abstract

The bill extends the time in which debtors experiencing financial hardship due to the COVID-19 emergency may have extraordinary debt collection actions suspended. Currently, the law requires a judgment creditor (creditor) to provide a notice to a judgment debtor (debtor) before instituting an extraordinary debt collection action, which includes an action in the nature of a garnishment, attachment, levy, or execution to collect or enforce a judgment. The debtor may suspend the collection action by notifying the creditor that the debtor is experiencing financial hardship due to COVID-19. The obligation to provide notice and the suspension of the collection action are effective through February 1, 2021. The bill extends the effective period for the notice and the suspension to June 1, 2021. If a collection action has already been suspended by the debtor, the creditor is required to notify the debtor that the suspension is now effective through June 1, 2021. In addition, under current law, 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 through February 1, 2021. The bill extends that date to June 1, 2021. (Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.) (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (3)

Votes


Jan 14, 2021

Jan 15, 2021

Actions


Jan 21, 2021

Office of the Governor

Governor Signed

Jan 15, 2021

Office of the Governor

Sent to the Governor

House

Signed by the Speaker of the House

Senate

Signed by the President of the Senate

House

House Third Reading Passed - No Amendments

Jan 14, 2021

House

House Second Reading Special Order - Passed - No Amendments

House

House Committee on Finance Refer Unamended to House Committee of the Whole

  • Committee-Passage
  • Referral-Committee
House Committee of the Whole Finance

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Senate

Senate Third Reading Passed - No Amendments

Jan 13, 2021

Senate

Senate Second Reading Special Order - Passed with Amendments - Committee

Senate

Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole

  • Committee-Passage
Appropriations

Senate

Senate Committee on Finance Refer Amended to Appropriations

  • Referral-Committee
Appropriations Finance

Senate

Introduced In Senate - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Signed Act (01/21/2021) PDF
Final Act (01/15/2021) PDF
Rerevised (01/15/2021) PDF
Revised (01/14/2021) PDF
Reengrossed (01/14/2021) PDF
Engrossed (01/13/2021) PDF
Introduced (01/13/2021) PDF
PA2 (03/01/2021) PDF
PA1 (01/13/2021) PDF
Committee Amendment PDF
Amendment L.001 PDF

Related Documents

Document Format
Fiscal Note FN1 (01/13/2021) PDF

Sources

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