The Colorado Fair Debt Collection Practices Act (CFDCPA) applies to the following collection agencies or debt collectors:
- Located within this state;
- Outside this state and collects or attempts to collect from consumers who reside within this state for a creditor with a place of business located within this state;
- Outside this state and regularly collects or attempts to collect from consumers who reside within this state for a creditor with a place of business located outside this state; or
- Outside this state and solicits or attempts to solicit debts for collection from a creditor with a place of business located within this state;
- Debt/judgment buyers who are now the owners of debts that were in default at the time they acquired ownership of those debts;
- Creditors that collect their own debts using another name which would indicate that a third person is collecting or attempting to collect such debts.
Attorneys engaged in debt collections do not need a collection agency license but must comply with the substantive provisions of the CFDCPA and are subject to the Administrator’s enforcement authority.
Collection agencies that collect only commercial, business, investment, and agricultural purpose debts are not subject to the CFDCPA and do not need a collection agency license.
Creditors, defined in section 5-16-103(7), C.R.S., who collect their own debts in their own name are not subject to the law and do not need to be licensed.
Collection Agency License Documents and Information
Pursuant to section 5-16-118, C.R.S., “Any person acting as a collection agency must possess a valid license issued by the administrator…” Collection agency license requirements are laid out in section 5-16-119, C.R.S. If you wish to obtain a license, please download and follow the instructions on the application.
Financial Responsibility Forms
Financial responsibility requirements are laid out in section 5-16-124, C.R.S. You may refer to this Guidance (PDF) regarding surety bonds containing an electronic seal and electronic signatures. Please note this is not intended as an official interpretation or opinion letter.
Other Forms for Applicants and Licensees
- Address Change (PDF)
- Bank Account Information (PDF)
- Branch Location List (PDF)
- Collections Manager Change (PDF)
- Collector and Solicitor List (PDF)
- Financial Statement (PDF)
- License Verification (PDF)
- Out-of-State Trust Affidavit (PDF)
- Personal Affidavit (PDF)
IMPORTANT NOTE: The above license and notification filings (once issued) are valid through each July 1 regardless of the date issued and must be renewed annually. See the above information for important dates for collection agencies.
Although a license expiration date may reflect the prior 7/1, the existing license shall not expire (so long as a renewal is submitted) until the renewal application has been finally acted upon by the agency, pursuant to section 24-4-104(7), C.R.S.