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What can a debtor do if a secured party does not respond to a demand to issue a termination statement from the debtor within twenty (20) days?

April 26, 2017days debtor DEMAND ISSUE party respond secured termination

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What can a debtor do if a secured party does not respond to a demand to issue a termination statement from the debtor within twenty (20) days?

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If a secured party identified in a spurious lien does not respond to a demand by the debtor named in the spurious lien by either making a termination statement available to the debtor, or filing a termination statement in the filing office where the initial document was filed within twenty (20) days, a debtor may choose to file a termination statement on his/her own. For more information, see section 4-9-509, C.R.S. Consult an attorney for specific information and advice.