Senate Bill 21-002 Summary

• Extends the prohibition on extraordinary debt collection actions from November 1, 2020 to June 1, 2021, protecting Colorado residents facing COVID-19 financial hardship.

• Requires judgment creditors to provide written notice in at least 16-point type to debtors at least 10-60 days before executing collection actions, informing them of their right to temporarily suspend collection proceedings.

• Allows judgment debtors to request temporary suspension of extraordinary collection actions by notifying the creditor of COVID-19-related financial hardship, without requiring supporting documentation.

• Extends the exemption of up to $4,000 in depository accounts from levy and sale under writs of attachment or execution through June 1, 2021.

• Includes a safety clause stating the act is necessary for the immediate preservation of public peace, health, or safety.