C.R.S. Section 5-20-112
Civil action

(1)

A violation of this part 1 is a deceptive trade practice within the meaning of section 6-1-105.

(2)

A student loan servicer who fails to comply with any requirement imposed under this part 1 with respect to a student loan borrower is liable in an amount equal to the sum of:

(a)

Any actual damages sustained by the student loan borrower as a result of the failure;

(b)

A monetary award equal to three times the total amount the student loan servicer collected from the student loan borrower in violation of this part 1;

(c)

Punitive damages as the court may allow; and

(d)

In the case of any successful action by a student loan borrower to enforce the liability set out in this section, the costs of the action, together with reasonable attorney fees as determined by the court.

(3)

The remedies provided in this section are not the exclusive remedies available to a student loan borrower.

Source: Section 5-20-112 — Civil action, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-05.­pdf (accessed Oct. 20, 2023).

5‑20‑101
Short title 5‑20‑102
Scope of article - residence of debtor 5‑20‑103
Definitions 5‑20‑104
Student loan ombudsperson - report - fund - rules 5‑20‑105
License required 5‑20‑106
Licensure of student loan servicers - definition 5‑20‑107
License and investigation fees 5‑20‑108
Affirmative acts required of student loan servicers - definitions 5‑20‑109
Prohibited acts of student loan servicers 5‑20‑110
Powers and duties of the administrator - rules 5‑20‑111
Compliance with federal law 5‑20‑112
Civil action 5‑20‑113
Application of administrative procedures - provisions 5‑20‑114
Administrative enforcement orders 5‑20‑115
Assurance of discontinuance 5‑20‑116
Injunctions 5‑20‑117
Civil actions by the administrator 5‑20‑118
Limitations 5‑20‑119
Confidential information 5‑20‑201
Scope of part - construction with other laws - legislative declaration 5‑20‑202
Definitions 5‑20‑203
Registration of private education creditors - penalties - rules 5‑20‑204
Cosigner disclosures 5‑20‑205
Cosigner release 5‑20‑206
Cosigner rights 5‑20‑207
Bankruptcy or death of cosigner 5‑20‑208
Total and permanent disability of the private education credit borrower or cosigner 5‑20‑209
Refinancing - additional disclosures - limitations on default pending approval 5‑20‑210
Prohibited conduct 5‑20‑211
Record retention - confidentiality 5‑20‑212
Collection on debt - prerequisites - documentation 5‑20‑213
Actions - counterclaims 5‑20‑214
Remedies - civil actions - limitations - deceptive trade practice
Green check means up to date. Up to date

Current through Fall 2024

§ 5-20-112’s source at colorado​.gov