Title 12. Professions and Occupations General
Article 14.3. Colorado Consumer Credit Reporting Act
12-14.3-106.5 Consumer report information block.
(1) (a) A consumer reporting agency shall, within 30 days after the receipt of a police report or order pursuant to this paragraph (a), permanently block the reporting of any information that a consumer identifies on his or her consumer report as being subject to either a police report or a court order referenced in subparagraph (I) or (II) of this paragraph (a) if the consumer provides a consumer reporting agency with proof of the consumer's identification and a copy of:
(I) A police report that alleges that a person other then the consumer obtained or recorded, by means of fraud, theft, or other violation of the "Colorado criminal code", personal identifying information of the consumer without authorization from the consumer and that person used the information to obtain, or attempt to obtain, credit goods, services, or moneys in the name of the consumer without the consumer's consent; or
(II) A certified court order issued pursuant to Section 16-18.5-103(7), C.R.S. 1
(b) The consumer reporting agency shall promptly notify the person who furnished the information that a police report or court order has been filed, that a block has been requested, and the effective date of the block
(2) (a) A consumer reporting agency may decline to block or may rescind any block of consumer information if, in the exercise of good faith and reasonable judgment, the consumer reporting agency believes:
(I) The information was blocked due to a misrepresentation of fact by the consumer relevant to the request to block under this section;
(II) The consumer agrees that the blocked information or portions of the blocked information were blocked in error; or
(III) The consumer knowingly obtained possession of goods, service, or moneys as a result of the blocked transaction or transactions or the consumer should have known that he or she obtained possession of goods, services, or moneys as a result of the blocked transaction or transactions.
(IV) The consumer so requests in writing and presents proof of the consumer's identity.
(b) A consumer reporting agency shall decline to block or shall rescind any block of consumer information if, in the case of a block or block request based upon the filing of an order, the sentencing court amends, dismisses, or withdraws its prior order to correct records issued pursuant to Section 16-18.5-103(7), C.R.S., and the consumer provides such documentation from the court and proof of the consumers identity.
(3) If the block of information is declined or rescinded pursuant to this section, the consumer reporting agency shall promptly notify the consumer in the same manner as consumers are notified of the reinsertion of information pursuant to Section 12-14.3-106. The prior presence of the blocked information in the consumer reporting agency's file on the consumer is not evidence of whether the consumer knew or should have known that he or she obtained possession of any goods, services, or moneys.
(4) The Section does not apply to a consumer reporting agency that acts as a reseller of information by assembling and merging information contained in the data base of one or more other consumer reporting agencies and that does not maintain a data base of the assembled or merged information from which new consumer reports are produced.
Ch. 143 Laws 2002, 1 (H.B. 1258 by Marshall). Added 12-14.3-106.5 Effective July 1, 2002
1 Sec. 16-18.5-103 was repealed in its entirety by Laws 2002, p. 1463, 3, effective October 1, 2002. House Bill 1258 (2002) enacted subsection (7). This section as amended by House Bill 1258 (2002) was subsequently harmonized with House Bill 1046 (2002) and relocated to 18-1.3-603. The legislative declaration repealing 16-18.5-103 is found in Ch. 318, 1, Laws 2002.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.