- Memorandum to Licensed Collection Agencies
- 2020-2021 Collection Agency License Renewal Application Packet
- Civil Action(s) Template
- Renewal Application
- Collections/Remittance Information Form
- Financial Statement Form
- Out-of-State Trust Account Affidavit
- Branch Office Listing
Additional forms that are required to be submitted if a change in address or collections manager has occurred:
Yes. Due to the public health crisis from COVID-19, you must submit your renewal application via email to email@example.com this year. Our office requires original (wet-ink signatures). Since your application may contain sensative information, we encourage you to encrypt the email before sending it to us.
No. The Verified Financial Statement form provided by our office must be completed.
A trust account may not be required upon determination by our office that compliance with the Colorado Fair Debt Collection Practices Act (CFDCPA) and Rule 3.01 has been met. If you do not have a trust account because you do not receive payments from consumers, you must provide our office with copies of all contracts and/or agreements that indicate all consumer payments are made directly to the clients. Please see § 5-16-123, C.R.S., and Rule 3.01.
If the collection agency is a corporation or limited liability company and the change in ownership is less than fifty percent of the corporate stock or ownership interest, then you are not required to submit a new license application. However, you must notify the Consumer Credit Unit of such change. If the licensee fails to provide written notification, the license shall automatically expire on the thirteenth day following the change If the change of ownership is fifty percent or more of the stock or ownership interest in any one transaction or a cumulative change of ownership of fifty percent or more from the date of your license issuance or last renewal, then you are required to submit a new license application. Please see § 5-16-122, C.R.S.
Yes, all collection agencies must submit a sample validation/first notice letter containing Colorado specific consumer rights advisory (see §§ 5-16-105(3)(c) and (d), 5-16-107(1)(l), 5-16-109(1)(a) through (e), 5-16-123(1)(b)(I) and (II), C.R.S., and Rule 2.01.
Once your renewal application has been reviewed and deemed complete by our office, the 2020-21 license renewal certificate will be emailed to the licensing contact provided on the renewal application form. Please note that due to the public health crisis from COVID-19 and the high volume of renewal applications, it may take longer than usual for our office to review your submitted renewal application and email your license renewal certificate. You may continue to operate until your license is issued or denied.
Any collection agency with 10 or more civil actions filed must use the Civil Action(s) Template available (above). Please be specific about the Nature of the Action/Factual Allegation. If further information regarding any of the civil action(s) you list is needed, we will request such documentation at a later date.
Each section of the renewal application is available above. If you are requested to resubmit any of the forms, please ensure completion, resign the document and email to firstname.lastname@example.org. Due to the public health crisis from COVID-19, mailed documents may take longer to reach us.
Your license will automatically expire and you must immediately cease collection activities. You will be prohibited from collecting debts or soliciting accounts covered by the CFDCPA without applying for and being issued a new collection agency license. Please see CFDCPA Rules 1.05 & 1.06.