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Under state law, where a consumer's default consists of nonpayment, a creditor may not take possession of the collateral (e.g., motor vehicle) without first providing the consumer with one notice of right to cure per 12-month period.I don't see where it defines "creditor" as business or private. Heres the pH # to the AG, call and get a real legal opinion.Consumer Complaint Line - in Denver and Out of State - 303-866-5189

Consumer Complaint Line - Outside of Denver but in Colorado - 1-800-222-4444

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โˆ™ 2011-09-12 23:01:32
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Q: In Colorado does a private person have to follow the Notice to Cure Default repo timeline?
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What is a Notice of Rescission of Declaration of Default and Demand for Sale and Notice of Default?

A Notice of Rescission of Declaration of Default is a mortgage loan that was once in default, and a notice of default would mean that the loans are still currently foreclosed in a way.


What does default notice not entered mean?

What is next after notice of default is entered


What does the term notice of default mean?

A notice of default is used to notify a borrower that they have defaulted on their debt. To default on a debt means to fail to repay it. So a notice of default reminds the borrower that he has not made a payment on his debt on time.


What is NOD in a foreclosure notice?

NOD stands for "Notice of Default".


Notice of Rescission of Declaration of Default and Demand For Sale and of Notice of Default What does the above notice which was recorded by the county clerk on 5 20 2009 mean to me the home owner?

A written document that cancels or annuls the effect of a notice of default when a default has been cured (reinstated). This document does not require the acknowledgment of a notary public, but must be recorded with the county recorder in the county in which the property is located.


What is next after notice of default is entered?

A foreclosure sale is set unless the default is vacated, by the filing of a pleading for instance.


What are some good ways to avoid foreclosure?

The best way to avoid foreclosure is to prevent the filing of a Notice of Default. Lenders do not want to foreclose but will file a Notice of Default to protect their interests, if necessary.


What would be the implications of receiving a default notice on your credit card?

There are many implications of receiving a default notice on your credit card. These may include having to go to court or possibly even declaring bankruptcy.


Who records a notice of rescission of declaration of default?

Generally, the party who recorded the lien. Specifically, California Civil Code 1367.1 (d) states that when a notice of default is filed in connection with a default in homeowners' dues in a condominium project, the association must record it or cause it to be recorded within 21 days of the payment (and provide the homeowner a copy of the recorded notice).


Which steps are included in the foreclosure process?

The first step is a Notice of Default, followed by the Notice of Acceleration. The third step is the Notice of Sale and the fourth step is a Public Auction.


Does a landlord have the right to collect rent on a home with a notice of default?

As long as the landlord is in legal possession/ownership of the property and as long as you are residing on/in his property, yes. His notice of default has no legal effect of putting a "stay" on your payment of rent.


Does lender have to send notice of default or intention to repossessed before taking the merchandise?

Legally NO!

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