Expert: Ray A Miller - 1/13/2011

Question
QUESTION: What is the statute of limitations on credit card debt in Colorado? Some people say it is 3 years and others say it is 6 year.

ANSWER: Hope you find this helpful:  Colorado  6 years  13-80-103.5  State law  

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QUESTION: Thank you for the answer.  I thought it was a 3 year sol on open accounts and I thought open accounts were credit cards.  I have even seen collection agency websites that say open accounts in Colorado are 3 years.  I have also seen that it says only written contracts that are promissory notes are 6 years and all other contracts are 3 years.

Is there any case law on this and how do I find i?

ANSWER: Here is the web site I got my information from:  http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitation.  I hope this clears this up for you.

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QUESTION: I have been to that site before.  This is what the state of Colorado says, but since I am not a lawyer it is hard for me to understand.


All contract actions, including personal contracts and actions under the UCC: 3 years (C.R.S. 13-80-101), except as otherwise provided in 13-80-103.5; All claims under the Uniform Consumer Credit Code, except sections 5-5-201(5); All actions to recover, detain or convert goods or chattels, except as otherwise provided 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)

Answer
You are correct. This is hard to understand but I am not an attorney either.  I did work for a debt purchaser (I am sorry to say) that was based in Colorado and to the best of my knowledge the statute is 6 years.  You can call the Attorney General's office and they should be able to nail this one down for you.