# C.R.S. § 5-5-104: 5-5-104. Insecurity and impaired collateral

> Colorado · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-104

## Section

- **Citation:** C.R.S. § 5-5-104
- **Heading:** 5-5-104. Insecurity and impaired collateral
- **Jurisdiction:** Colorado
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** CO Code / Title 5 / Article 5 / Part 1 / Section 5-5-104

## Text

5-5-104. Insecurity and impaired collateral. (1) If a creditor takes possession of any collateral because the creditor deems himself or herself insecure or because the creditor feels his or her collateral is impaired, and the creditor fails to prove that, at the time possession was taken, the creditor, in good faith, had reasonable cause to believe that he or she was insecure or that his or her collateral was impaired:

(a) The creditor shall be liable to the consumer for court costs and attorney fees as determined by the court; and

(b) The consumer shall not be liable for any finance charge incurred during the period the consumer is without use of the collateral.

## Nearby sections

- [C.R.S. § 5-5-101 5-5-101. Short title](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-101.md)
- [C.R.S. § 5-5-102 5-5-102. Scope](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-102.md)
- [C.R.S. § 5-5-103 5-5-103. Restrictions on deficiency judgments in consumer credit sales](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-103.md)
- [C.R.S. § 5-5-104 5-5-104. Insecurity and impaired collateral](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-104.md)
- [C.R.S. § 5-5-105 5-5-105. No garnishment before judgment](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-105.md)
- [C.R.S. § 5-5-106 5-5-106. Limitation on garnishment - definitions](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-106.md)
- [C.R.S. § 5-5-107 5-5-107. No discharge from employment for garnishment](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-107.md)
- [C.R.S. § 5-5-108 5-5-108. Extortionate extensions of credit](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-108.md)
- [C.R.S. § 5-5-109 5-5-109. Unconscionability - inducement by unconscionable conduct - unconscionable debt c](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-109.md)
- [C.R.S. § 5-5-110 5-5-110. Notice of right to cure](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-110.md)
- [C.R.S. § 5-5-111 5-5-111. Cure of default](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-111.md)
- [C.R.S. § 5-5-112 5-5-112. Attorney fees](https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-112.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CO_T5_A5_P1_S5-5-104. Check the current official text before relying on it. Not legal advice.