What is a Creditor Bill of Rights?

A Creditor Bill of Rights (CBOR) is a set of laws in Colorado that protect creditors from unfair collection practices. It establishes guidelines for debt collectors to follow and ensure that consumers are treated fairly when debt collectors attempt to collect a debt. The CBOR sets limits on when and how debt collectors can contact consumers, including restrictions on how often and when they can call, the types of language they can use, and the amount of information debt collectors can request. It also prohibits debt collectors from disclosing debt information to third parties, and requires them to provide a written notice of the debt that includes the total amount due, the creditor’s name and address, and the right of the consumer to dispute the debt if it is inaccurate. Additionally, the CBOR requires debt collectors to accept payments from consumers and prohibits them from threatening or harassing consumers in an effort to collect a debt. Ultimately, the CBOR provides a set of rights for consumers to protect them from unfair debt collection practices.

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What is a Creditor Bill of Rights?

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