2017 Colorado Revised Statutes
Title 42 - Vehicles and Traffic
Motor Vehicle Financial Responsibility Law
Article 7 - Motor Vehicle Financial Responsibility Law
Part 4 - Proof of Financial Responsibility - Judgments and Convictions
§ 42-7-404. Payment of judgment in installments
(1) The director shall not suspend a license and shall restore any suspended license following nonpayment of a final judgment when the judgment debtor gives proof of financial responsibility and obtains an order from the trial court in which such judgment was rendered permitting the payment of such judgment in installments of not less than twenty-five dollars per month, while the payment of any said installment is not in default.
(2) A judgment debtor upon five days' notice to the judgment creditor may apply to the trial court in which the judgment was obtained for the privilege of paying such judgment in installments, and the court, in its discretion and without prejudice to any other legal remedies which the judgment creditor may have, may so order, fixing the amounts and times of, and the person to receive, payment of the installments.
(3) In the event the judgment debtor fails to pay any installment as permitted by the order of the court, upon notice of such default supported by an appropriate document from the court or by sworn affidavit of either the judgment creditor or the person designated to receive payments, the director shall immediately suspend the license of the judgment debtor until said judgment is satisfied as provided in this article.
