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Debt collection in Colombia: executive proceedings, the monitorio for small debts, attachments and negotiable instruments

Last verified: 2026-10-26 · Status: Stable

A creditor holding a clear, express and enforceable document from the debtor (a promissory note, accepted invoice, conciliation record or judgment) can start an executive proceeding: the judge orders payment within five days and the creditor may attach assets from filing. The debtor has 10 days to raise defences; formal defects of the title can only be raised by appeal against the payment order, and attachments are capped at twice the debt plus interest and costs. For small unpaid contractual debts without a title (up to 40 minimum wages, COP 70,036,200 in 2026) the monitorio procedure gives a judgment if the debtor does not pay or object within 10 days, with a 10 percent fine for groundless objections.

USD figures use the TRM (tasa representativa del mercado) of COP 3,158.43 per US dollar, valid 24 to 26 October 2026, from the official TRM series published by the Superintendencia Financiera on the national open data portal. Peso figures in UVB use the 2026 UVB of COP 12,110 (Res. MinHacienda 3488 de 2025, as reported by the Ministry of Transport); figures in minimum wages use the 2026 monthly minimum wage of COP 1,750,905 (Decreto 1469 de 2025). Conversions are for orientation only.

Key facts

Time to pay under a payment order	5 daysLey 1564 de 2012 art. 431, as of 2026-10-26 · in force
Time to raise merits defences in an executive proceeding	10 daysLey 1564 de 2012 art. 442, as of 2026-10-26 · in force
Attached assets may not exceed this multiple of debt, interest and costs	2 timesLey 1564 de 2012 art. 599, as of 2026-10-26 · in force
Maximum security a creditor may be ordered to post	10 %Ley 1564 de 2012 art. 599, as of 2026-10-26 · in force
Monitorio ceiling 2026 (40 minimum wages)	70036200 COPLey 1564 de 2012 art. 419 and 25, as of 2026-10-26 · in force
Time for the debtor to pay or object in a monitorio	10 daysLey 1564 de 2012 art. 421, as of 2026-10-26 · in force
Fine for a groundless objection in a monitorio	10 %Ley 1564 de 2012 art. 421, as of 2026-10-26 · in force
Limitation of the direct action on a bill or note	3 yearsCódigo de Comercio art. 789, as of 2026-10-26 · in force

The rule

1. Obligations that are express, clear and enforceable and appear in documents from the debtor that are full proof against them, or in court judgments and other decisions, can be enforced in an executive proceeding.Ley 1564 de 2012, Art. 422, 2012-07-12 official text · verified 2026-10-26

2. With a valid title the judge issues a payment order (mandamiento de pago) requiring payment of money within five days with interest from maturity. Obligations agreed in foreign currency payable in pesos at the rate on the payment date are ordered in the agreed currency. If an acceleration clause is used, the claim must state from when.
Example: A US$100,000 loan payable in pesos at the TRM on the payment date: the payment order is issued in US dollars. / Conversion to pesos happens on payment (COP 315,843,000 at the 24 to 26 October 2026 TRM).Ley 1564 de 2012, Art. 430 and 431, 2012-07-12 official text · verified 2026-10-26

3. Formal requirements of the title can only be challenged by a motion for reconsideration (reposición) against the payment order. Merits defences must be raised within 10 days of service; against judgments, approved conciliations or settlements only payment, set off, merger, novation, remission, limitation or settlement based on later facts may be raised. If no defences are raised the judge orders execution, valuation and auction of attached assets.Ley 1564 de 2012, Art. 430, 440 and 442, 2012-07-12 official text · verified 2026-10-26

4. From filing the creditor may request attachment and seizure of the debtor's assets. The judge may limit them: their value may not exceed twice the debt, interest and estimated costs, unless a single asset or assets under mortgage or security interest are involved. A debtor raising defences, or an affected third party, may ask that the creditor post security of up to 10 percent of the claim, within 15 days, failing which the measures are lifted; financial institutions and public entities are exempt.
Cost to do it: Security of up to 10 percent: on a COP 300,000,000 claim, up to COP 30,000,000 (US$9,498.39).Ley 1564 de 2012, Art. 599, 2012-07-12 official text · verified 2026-10-26

5. The monitorio procedure is available for money debts of contractual origin, determined and due, of minor value (up to 40 minimum wages). The judge orders the debtor to pay or explain within 10 days; if the debtor does not appear the judge issues an unappealable judgment with res judicata effect and execution follows. A reasoned objection turns the case into a summary procedure. A debtor who objects without basis and loses pays the creditor a fine of 10 percent of the debt; if the debtor wins, the creditor pays it. Conciliation is not required first.
Cost to do it: 2026 ceiling: COP 70,036,200 (US$22,174.37).
Example: Unpaid services of COP 50,000,000 with a groundless objection: the debtor owes the debt, interest and a COP 5,000,000 fine. / About US$15,830.65 debt and US$1,583.07 fine.Ley 1564 de 2012; Ley 2220 de 2022 art. 68, CGP art. 419, 420 and 421, 2012-07-12 official text · verified 2026-10-26

6. The direct action on a bill of exchange or promissory note (acción cambiaria directa) is time barred three years after maturity; the holder's recourse action against endorsers one year after protest or maturity; and an endorser's recourse against earlier parties six months after payment or service of the claim.Decreto 410 de 1971 (Código de Comercio), Art. 789, 790 and 791, 1971-03-27 official text · verified 2026-10-26

7. Costs tariff in executive proceedings: where the court orders execution to proceed, 5 to 15 percent of the amount for minor value, 4 to 10 percent for lower value and 3 to 7.5 percent for higher value cases; in a monitorio with opposition, up to 5 percent of the claim.Acuerdo PSAA16-10554 de 2016, Art. 5 num. 3 and 4, 2016-08-05 official text · verified 2026-10-26

8. Once a reorganisation proceeding opens for the debtor, no executive proceeding may be admitted or continued; pending executions move into the insolvency case and their attachments are made available to the insolvency judge.Ley 1116 de 2006, Art. 20, 2006-12-27 official text · verified 2026-10-26

Situation	Route	Key term	Main risk
Promissory note, accepted invoice, conciliation record, judgment	Executive proceeding	Pay in 5 days; defences in 10 days	Formal defects of the title must be raised by reposición
Contractual money debt up to COP 70,036,200 (US$22,174.37) without a title	Monitorio	Pay or object in 10 days	10 percent fine for the loser of an opposition
Larger debt without a title	Declaratory oral procedure, after conciliation	Judgment within one year of service	Longer timeline; interim measures need a 20 percent bond
Debtor in reorganisation	Claim in the insolvency proceeding	File within the terms set by the insolvency judge	Executions are stayed and moved into the insolvency

Which collection route fits (Ley 1564 de 2012; values at the 2026 minimum wage and TRM COP 3,158.43)

Worked example

A distributor holds a COP 300,000,000 (US$94,983.90) promissory note that matured on 1 March 2026. It files an executive claim and asks to attach the debtor's bank accounts and receivables.
The judge issues the payment order requiring payment in five days with default interest. The debtor raises a payment defence within 10 days and asks for security: the judge may order up to 10 percent, COP 30,000,000 (US$9,498.39), to be posted within 15 days.
If the defence fails, execution proceeds and costs of 3 to 7.5 percent of the amount (higher value) are added. The direct action on the note would have been time barred on 1 March 2029.

Step by step

Check the document is a valid title: express, clear and enforceable, and signed by the debtor.
Calculate interest and check limitation (three years for notes from maturity).
File the executive claim with the original title and request attachments at the same time.
Serve the payment order; watch the 10 day defence window and any security request.
Once execution is ordered, value and auction the attached assets; apply proceeds to debt, interest and costs.
For small debts without a title, use the monitorio; no prior conciliation is needed.

Common traps

A defect in the title not raised by reposición against the payment order cannot be raised later, by either side.
Over attaching: assets above twice the debt can be released by the judge on the spot.
A reorganisation filing by the debtor freezes collection; check the debtor's chamber of commerce certificate before investing in enforcement.
The monitorio cannot serve debtors by publication or appoint a curator: you need a known address for personal service.

Sources

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