Definitions

As used in this article, unless the context otherwise requires: (1) To "collect" an extension of credit means to induce in any way any person to make repayment thereof. (2) "Creditor" means any person who extends credit or any person claiming by, under, or through any such person. (3) "Debtor" means any person who receives an extension of credit or any person who guarantees the repayment of an extension of credit or in any manner undertakes to indemnify the creditor against loss resulting from the failure of any person who receives an extension of credit to repay the same. (4) To "extend credit" means to make or renew any loan or to enter into any agreement, express or implied, whereby the repayment or satisfaction of any debt or claim, whether acknowledged or disputed, valid or invalid, and however arising, may or will be deferred. (5) An "extortionate means" is any means which involves the use, or an express or implicit threat of use, of violence or other criminal means to cause harm to the person, reputation, or property of any person. (6) (a) "Loan finance charge" means the sum of all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the lender as an incident to or as a condition of the extension of credit, whether paid or payable by the debtor, the lender, or any other person on behalf of the debtor to the lender or to a third party, including, but not limited to, any of the following types of charges that are applicable: (I) Interest or any amount payable under a point, discount, or other system of charges, however denominated; (II) Premium or other charge for any guarantee of insurance protecting the lender against the debtor's default or other credit loss; (III) Charges incurred for investigating the collateral or credit-worthiness of the debtor or for commissions or brokerage for obtaining the credit. (b) The term does not include the charges as a result of additional charges as defined in section 5-2-202, C.R.S., delinquency charges as defined in section 5-2-203, C.R.S., deferral charges as defined in section 5-2-204, C.R.S., similar charges specifically authorized by law, or additional interest charges permitted by section 5-12-107 (3), C.R.S. (7) "Repayment" of an extension of credit includes the repayment, satisfaction, or discharge, in whole or in part, of any debt or claim, acknowledged or disputed, valid or invalid, resulting from or in connection with that extension of credit.