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2021 Colorado Code
Title 5 - Consumer Credit Code
Article 20 - Colorado Student Loan Servicers
Part 2 - Private Student Education Lenders
§ 5-20-207. Bankruptcy or Death of Cosigner
Universal Citation: CO Code § 5-20-207 (2021)
- If a cosigner dies, the lender shall not attempt to collect against the cosigner's estate other than for payment default.
- With regard to the death or bankruptcy of a cosigner, if a private education loan is not more than sixty days delinquent at the time the lender is notified of the cosigner's death or bankruptcy, the lender 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 loan.
History. Source: L. 2021: Entire part added,(SB 21-057), ch. 378, p. 2523, § 5, effective June 29.
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