Section 5-20-207 - Bankruptcy or death of cosigner

(1) If a cosigner dies, the creditor shall not attempt to collect against the cosigner's estate other than for payment default.(2) With regard to the death or bankruptcy of a cosigner, if a private education creditor is not more than sixty days delinquent at the time the creditor is notified of the cosigner's death or bankruptcy, the creditor 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 credit obligation.Amended by 2023 Ch. 360,§ 22, eff. 8/7/2023.Added by 2021 Ch. 378, §5, eff. 6/29/2021.2023 Ch. 360, was passed without a safety clause. See Colo. Const. art. V, § 1(3).