Colorado § 5-20-112 - Civil action.
Full text of Colorado Colorado Revised Statutes § 5-20-112 — Civil action., with citation guidance and answers to common questions.
§ 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: L. 2019: Entire article added, (SB 19-002), ch. 157, p. 1870, § 2, effective August 2. L. 2021: (1), IP(2), and (2)(b) amended, (SB 21-057), ch. 378, p. 2533, § 10, effective June 29.
Frequently Asked Questions About Colorado § 5-20-112
What does Colorado Revised Statutes § 5-20-112 cover?
Section 5-20-112 ("Civil action.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 5-20-112?
A common citation format is "Colorado Revised Statutes § 5-20-112" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 5-20-112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.