Colorado Revised Statutes

Colo. Rev. Stat. § 5-5-111 (2026)

Cure of default

✓ current as of July 2026

Find cases: SyfertCases citing this section CO-LEGleg.colorado.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

(1) With respect to a consumer credit transaction, except as provided in subsection (2) of this section, after a default consisting only of the consumer's failure to make a required payment, a creditor, because of that default, may neither accelerate maturity of the unpaid balance of the obligation nor take possession of or otherwise enforce a security interest in the goods or the mobile home that are collateral until twenty days after giving the consumer a notice of right to cure described in section 5-5-110. Until the expiration of the minimum applicable period after the notice is given, all defaults consisting of a failure to make the required payment may be cured by tendering to the creditor the amount of all unpaid sums due at the time of the tender, without acceleration, plus any unpaid delinquency or deferral charges. Cure restores the consumer to his or her rights under the agreement as though the defaults had not occurred.

(2) With respect to defaults on the same obligation, other than defaults on an obligation secured by a mobile home, after a creditor has once given the consumer a notice of right to cure described in section 5-5-110, this section gives no right to cure and imposes no limitation on the creditor's right to proceed against the consumer or goods that are collateral with respect to any subsequent default that occurs within twelve months of such notice. With respect to defaults on the same obligation that is secured by a mobile home, this section gives no right to cure and imposes no limitation on the creditor's right to proceed against the consumer or goods that are collateral with respect to any third default that occurs within twelve months of such notice. For the purpose of this section, in connection with revolving credit accounts, the obligation is the consumer's account, and there is no right to cure and no limitation on the creditor's rights with respect to any default that occurs within twelve months after an earlier default as to which a creditor has given the consumer notice of right to cure.

(3) Unless a creditor has provided the cosignor on a consumer credit transaction with a notice of right to cure that complies with section 5-5-110 and this section, in addition to the notice of right to cure provided to the consumer, the creditor may neither accelerate maturity of the unpaid balance of the obligation as to the cosignor nor report that amount on the cosignor's consumer report with a consumer reporting agency, as defined in section 5-18-103 and 15 U.S.C. sec. 1681a.

(4) This section and the provisions on waiver, agreements to forego rights, and settlement of claims do not prohibit a consumer from voluntarily surrendering possession of goods that are collateral and the creditor from thereafter enforcing its security interest in the goods at any time after default.

(5) This section shall not apply to consumer credit transactions that are payable in four or fewer installments.

Source: L. 2000: Entire article R&RE, p. 1239, § 1, effective July 1. L. 2017: (3) amended, (HB 17-1238), ch. 260, p. 1170, § 8, effective August 9.

Editor's note: (1) This section is similar to former § 5-5-112, as it existed prior to 2000.

(2) Although this section was effective on July 1, 2000, section 5 of chapter 265, Session Laws of Colorado 2000, provides that the disclosures described in subsection (3) are effective January 1, 2001.

Notes of Decisions

Cited in 9 cases, 1980–2012 · leading case: Hassler v. Account Brokers of Larimer Cnty., Inc..

Sort: Relevance Newest Treatment

Hassler v. Account Brokers of Larimer Cnty., Inc. (Colo. 2012). · cites it 16× “188 The requirement that Hassler be afforded an opportunity to cure his default prior to acceleration, as set forth in the parties' acceleration clause, is consistent with Colorado law, which requires that all consumer debtors receive such protection.”

Aetna Fin. Co. v. Summers (Colo. 1982). · cites it 13× “In dismissing the case, the trial court concluded that Aetna did not take any additional steps after the notice was returned unclaimed, and thereby failed to comply with the notice requirement of section 5-5-111(1), C.R.S.1973. The trial court held that Aetna could therefore…”

Aetna Fin. Co. v. Summers (Colo. Ct. App. 1980). · cites it 30× “No reason is given as to why the notice was not delivered to defendant or why a notice of attempt to deliver the certified mail was not received by defendant. Although plaintiffs' records correctly reflected defendant's place of employment, plaintiff did not attempt to notify…”

D.E.B. Adjustment Co. v. Cawthorne (Colo. Ct. App. 1981). · cites it 14× “Section 5-5-111, C.R.S.1973 (1979 Cum.Supp.”

First Nat'l Bank of Lakewood v. Union Tavern Corp. (Colo. Ct. App. 1990). · cites it 2× “that are collateral until twenty days after a notice of the debtor’s right to cure (section 5-5-111) is given. Until the expiration of the minimum applicable period after the notice is given, the debtor may cure all defaults consisting of a failure to make the required payment…”

Woods v. Monticello Dev. Co. (Colo. Ct. App. 1982). · cites it 2× “Twice in 1976 and again in 1977, the seller sent default notices as required by §§ 5-5-111 and 5-5-112, C.R.S.1973 (1982 Cum.”

Green Tree Fin. Servicing Corp. v. Short (Colo. Ct. App. 2000). · cites it 4× “The notice requirement is set forth in § 5-5-111, C.R.S.1999. The Agreement here provides, in pertinent part, as follows: If [defendants] default, [plaintiff] may do either or both of the following: (a) Acceleration of payment: After any required notice, [plaintiff] can require…”

Ault v. Dep't of Revenue (Colo. 1985). “§ 5-5-111(1), 2 C.R.S. (1984 Supp.). In so holding, we relied upon the strong legislative intent in the consumer credit code to provide notice and the opportunity to cure default, and found that the potential of nondelivery inherent in the use of certified mail would defeat the…”

— Colo. Rev. Stat. § 5-5-111(1) — 4 cases

Hassler v. Account Brokers of Larimer Cnty., Inc. (Colo. 2012). “188 The requirement that Hassler be afforded an opportunity to cure his default prior to acceleration, as set forth in the parties' acceleration clause, is consistent with Colorado law, which requires that all consumer debtors receive such protection.”

Aetna Fin. Co. v. Summers (Colo. 1982). “In dismissing the case, the trial court concluded that Aetna did not take any additional steps after the notice was returned unclaimed, and thereby failed to comply with the notice requirement of section 5-5-111(1), C.R.S.1973. The trial court held that Aetna could therefore…”

Aetna Fin. Co. v. Summers (Colo. Ct. App. 1980). “No reason is given as to why the notice was not delivered to defendant or why a notice of attempt to deliver the certified mail was not received by defendant. Although plaintiffs' records correctly reflected defendant's place of employment, plaintiff did not attempt to notify…”

— Colo. Rev. Stat. § 5-5-111(2) — 1 case

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.