- 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.
The Collection Agency License Renewal is now available for existing licensees!
Renewals must be submitted online via the Licensing Community portal by the Licensing/Renewals Compliance contact or another designated contact. If you already have a portal account, your username is your email address. You may use the Forgot Password? link on the login page to reset your password. If you are a new user requesting access to an existing company, you may use the New User? Register Here! link. It may take several business days to grant access to the licensed company’s information.
Certain documents must be provided in order to submit the renewal
You must upload completed documents as part of the renewal this year and will not be able to submit the renewal until certain documents are provided. Please start by completing the required forms or gathering information. Documents that are required as part of the renewal are as follows, however, there may be other information required. These forms and other forms that may be required as part of the renewal (Collections Manager Change Form, Trust Account Affidavit, etc.) are available within the Licensing Community portal – under the Resources tab.
Please refer to the Renewal Information and Checklist for a list of required items before beginning the renewal.
- Collections and Remittance Information
- Financial Statement
- Collector and Solicitor List
- Sample First Notice/Validation letter
Once the renewal has been submitted
Once the renewal has been submitted, you will have the opportunity to make an online payment (or you may mail a check). We will send the renewal to the signatory or signatories (provided on the renewal) for electronic signature within three business days. The email will contain a link to e-sign the renewal – no account is needed. The renewal is not considered submitted until e-signed by all signatories.
Collection Agency License Application and Other Forms
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 requirements are laid out in section 5-16-124, C.R.S. You may refer to this Guidance regarding surety bonds containing an electronic seal and electronic signatures. Please note this is not intended as an official interpretation or opinion letter.
| Renewal becomes available | Early to mid-May |
| Renewal Deadline! | July 1 |
"Collection agency licenses are valid from the date of issuance to the following July 1. To renew its license, a license must file its completed renewal and fee on or before July 1 each year or its license shall automatically expire," pursuant to Rule 1.06.
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 § 24-4-104(7), C.R.S.