Help us improve our website by participating in our site survey.

Rent to Own Notification - Frequently Asked Questions

Please review the below Frequently Asked Questions regarding the filing of notification as a Rent-to-Own company.
 
If you still have questions after reviewing the FAQs as well as the Colorado Uniform Consumer Credit Code, please email us at uccc@coag.gov.  As our office is prohibited from providing advice or interpretation of laws and rules, you may also wish to seek legal counsel to ensure compliance.

What is a Registered Agent?

A registered agent is the individual or business responsible for accepting service of process for an entity. Please visit the Colorado Secretary of State's Business FAQs for further information.


Why does the notification form ask for Registered Agent information?

Per UCCC Section 5-6-202(1)(f), the address of the retail seller's registered agent in Colorado is required as part of the annual notification filing. Please visit the Colorado Secretary of State's website to review the documents filed for your company as well as ensure your company is properly registered with the Colorado Secretary of State.


What happens if I don't complete all applicable forms and pay all fees due?

If you are required to file notification and pay the associated fees and fail to do so, you must immediately cease all rent-to-own operations.

Until all notification forms and fees have been properly submitted, you will not be considered an active Rent-to-Own notification filer and appear on the Active Rent-to-Own Notification Filers list (updated every 2 weeks and posted on our website).

You will be referred to the Administrator of the Colorado Uniform Consumer Credit Code for further action.

Sales Finance Notification - Frequently Asked Questions

Please review the below Frequently Asked Questions regarding the filing of notification as a Sales Finance company.
 
If you still have questions after reviewing the FAQs as well as the Colorado Uniform Consumer Credit Code, please email us at uccc@coag.gov.  As our office is prohibited from providing advice or interpretation of laws and rules, you may also wish to seek legal counsel to ensure compliance.

What is a Registered Agent?

A registered agent is the individual or business responsible for accepting service of process for an entity. Please visit the Colorado Secretary of State's Business FAQs for further information.


Why does the notification form ask for Registered Agent information?

Per UCCC Section 5-6-202(1)(f), the address of the retail seller's registered agent in Colorado is required as part of the annual notification filing. Please visit the Colorado Secretary of State's website to review the documents filed for your company as well as ensure your company is properly registered with the Colorado Secretary of State.


What is a Supervised Loan?

A supervised loan is a consumer loan in which the rate of the finance charge exceeds 12% per year.  If your company makes, services, or takes assignment of supervised loans, you will need to apply and obtain a Supervised Lender's License.  The application and supporting materials are available here.

Please see UCCC Sections 5-1-301(46) and 5-2-301 for further information.


How do I calculate volume fees?

The volume fee for 2017 is $15 for each $100,000, or part thereof, of the unpaid balance of consumer credit sales or leases at the time of assignment in calendar year 2016.  In order to avoid the miscalculation of volume fees, ensure that any part of $100,000 is rounded up.

Example: $1,500,370 total volume in 2016. (Round up to nearest $100,000 = $1,600,000)

                       $1,600,000 / $100,000 = 16 x $15 volume fee = $240 in total volume fees.


How do I calculate late fees?

New Filers - a complete notification and fee payment are due within 30 days of commencing business in Colorado.  

If the completed notification form and payment are not received within the first 30 days, a late fee of $5.00 per calendar day is imposed starting the 31st day of business until the notification form and fees due are received.

Existing Filers - a complete notification and fee payment are due January 31st of each year.  

If the completed notification form and payment are not received by March 1st, a late fee of $5.00 per calendar day is imposed from February 1st until the notification form and fees due are received.

*If you've failed to submit notification forms for previous years in which you were engaged in credit sales, you can find the forms for the last four years here.  You must submit all forms and fees owed before you will be considered an active Sales Finance notification filer and appear on the Active Sales Finance Notification Filers list (updated every 2 weeks and posted on our website).


What happens if I don't complete all applicable forms and pay all fees due?

If you are required to file notification and pay the associated fees and fail to do so, consumers have no legal obligation to pay any of the finance charges due under the credit transactions.

Until all notification forms and fees have been properly submitted, you will not be considered an active Sales Finance notification filer and appear on the Active Sales Finance Notification Filers list (updated every 2 weeks and posted on our website).

You will be referred to the Administrator of the Colorado Uniform Consumer Credit Code for further action.


How do I confirm that a Retail Sales company is currently filing UCCC Notification?

Our office posts a list of Active Retail Sales Notification Filers to our website, which is updated every two weeks.  Please note that only the primary location is listed for each entity.

Retail Sales Notification - Frequently Asked Questions

Please review the below Frequently Asked Questions regarding the filing of notification as a Retail Sales company.
 
If you still have questions after reviewing the FAQs as well as the Colorado Uniform Consumer Credit Code, please email us at uccc@coag.gov.  As our office is prohibited from providing advice or interpretation of laws and rules, you may also wish to seek legal counsel to ensure compliance.

What is a Registered Agent?

A registered agent is the individual or business responsible for accepting service of process for an entity. Please visit the Colorado Secretary of State's Business FAQs for further information.


Why does the notification form ask for Registered Agent information?

Per UCCC Section 5-6-202(1)(f), the address of the retail seller's registered agent in Colorado is required as part of the annual notification filing. Please visit the Colorado Secretary of State's website to review the documents filed for your company as well as ensure your company is properly registered with the Colorado Secretary of State.


What is a Credit Sale?

A consumer credit sale refers to the sale of goods or services in which credit is granted or arranged, payments are made in installments or a finance charge is made, and the amount financed does not exceed $75,000.

Please see UCCC Section 5-1-301(11) for a comprehensive definition.


What is a Supervised Loan?

A supervised loan is a consumer loan in which the rate of the finance charge exceeds 12% per year.  If your company makes, services, or takes assignment of supervised loans, you will need to apply and obtain a Supervised Lender's License.  The application and supporting materials are available here.

Please see UCCC Sections 5-1-301(46) and 5-2-301 for further information.


How do I calculate late fees?

New Filers - a complete notification and fee payment are due within 30 days of commencing business in Colorado.  

If the completed notification form and payment are not received within the first 30 days, a late fee of $5.00 per calendar day is imposed starting the 31st day of business until the notification form and fees due are received.

Existing Filers - a complete notification and fee payment are due January 31st of each year.  

If the completed notification form and payment are not received by March 1st, a late fee of $5.00 per calendar day is imposed from February 1st until the notification form and fees due are received.

*If you've failed to submit notification forms for previous years in which you were engaged in credit sales, you can find the forms for the last four years here.  You must submit all forms and fees owed before you will be considered an active Retail Sales notification filer and appear on the Active Retail Sales Notification Filers list (updated every 2 weeks and posted on our website).


What happens if I don't complete all applicable forms and pay all fees due?

If you are required to file notification and pay the associated fees and fail to do so, consumers have no legal obligation to pay any of the finance charges due under the credit transactions.

Until all notification forms and fees have been properly submitted, you will not be considered an active Retail Sales notification filer and appear on the Active Retail Sales Notification Filers list (updated every 2 weeks and posted on our website).

You will be referred to the Administrator of the Colorado Uniform Consumer Credit Code for further action.

Holiday Lending

Holiday Lending Tips

Helpful tips brought to you by the Colorado Attorney General's Office.  To view the complete Consumer Holiday Guide, please click here.

 

"Free" Financing Offers

Many stores offer "free" financing for a small period of time.  Under this type of promotion, no interest will be charged as long as you pay back the entire debt within the promotional period.  But what happens if you fail to do so?

 

Budget Analysis Worksheet

We've created a monthly budget worksheet to help keep you within your budget during the holidays. 

Online Lending - Is It Safe?


Please check out the resources on this page to determine if an online loan is right for you.  


 

Rocky Mountain Health Maintenance Organization (RMHMO) Comments Form

Attachments

Colorado Uniform Consumer Credit Code: Administrative Interpretations and Opinion Letters

For information and requests for Interpretations and Opinion Letters, please email uccc@coag.gov.

Administrative Interpretations | Opinion Letters


Administrative Interpretations

DATENUMBERTITLE
08/31/19941.202-9401Pawnbrokers - Title Loans
06/23/19923.104-9201Post-Dated Checks - Payday Lenders
12/08/19892.301 & 2.311-8901Consumer Leases - Disclosures and Truth-In-Lending
03/01/19853.107-8501Required Compensating Balance
02/24/19843.508-8401Revolving Loan - Grace Periods
10/14/19832.201, 3.201 & 3.508-8301Refund of Prepaid Finance Charges - Non-Precomputed Transactions
09/25/19813.104 & 3.109-8101Seller Carry Back Second Mortgages
12/16/19803.105 & 3.201-8010Wrap Around Mortgages
07/18/19803.104-8008Line of Credit - Consumer Loan
05/14/19805.204-8007Finance Charges and Three Day Right to Rescind
05/13/19803.105-8004Refinancing
01/13/19803.508-8002Maximum APR Applicable - Interest Bearing Loans
01/04/19805.112-8001Right to Cure Notice - Four or Fewer Installments
12/18/19793.402-7903Balloon Payment Provisions - First Lien Loans
12/13/19793.508-7902Mortgage Lender Use of Monthly Amortization
11/13/19783.408-7802Change in Terms - Fluctuating Base Rate
02/22/19785.111-7801Right to Cure Notice - Future Payment Reference

Opinion Letters

Note: To request older opinion letters not listed below, please email us at uccc@coag.gov

DATETITLE
09/22/2017Medical Lien Transactions
08/07/2017Debt Cancellation and Suspension Agreements Offered by Colorado-Chartered Banks, Colorado-Chartered Industrial Banks, and Colorado-Chartered Credit Unions
04/29/2010Pre-Settlement Lender Licensing
10/12/2005Request for Rulemaking on Debt Cancellation & Suspension Agreements
08/02/2004Small Installment Loans
06/15/2004New Laws - Deferred Deposit Loan Act Amendments and Small Installment Loans
12/02/2002Fees for Electronic Debits and Payments
03/13/2002Loans Primarily Secured by an Interest in Land
03/21/2001"Discretionary" Automatic Overdraft Privilege, Revised Letter
06/27/2000Colorado Deferred Deposit Loan Act - Renewals & Minimum Finance Charges
02/14/2000Automobile Purchase/Leaseback
12/15/1999Remedies for Improper Repossessions
07/31/1997Timely Payoff Quotes
12/23/1996Mortgage Broker Fees
10/16/1996Purchase of Credit Insurance Resulting in Favorable Rates
09/10/1996Subsidiaries of Supervised Financial Organizations and UCCC Licensing
08/23/1996"Slow Pay" Credit Card Rate Provision
07/05/1995Tax Service Fees
04/10/1995Loans Primarily Secured by an Interest in Land
11/22/1994Supervised Lender Licenses and Mortgage Loans
02/07/1994Coupon Book Expense - Vender's Single Interest Insurance ("VSI")

 

Collection Agency Regulation: Advisory Opinions

Senate Bill 17-216 was recently enacted and contains some substantive changes to the Colorado Fair Debt Collection Practices Act (CFDCPA).  Please click here to review a memo from the Administrator of the CFDCPA.
Additionally, the CFDCPA and the Colorado Child Support Collection Consumer Protection Act were relocated from Title 12 of the Colorado Revised Statutes to Title 5, effective August 9, 2017.
Please see the right sidebar for the revised Acts as well as Title 12 to Title 5 Cross-References.

For information and requests for Interpretations and Opinion Letters, please email car@coag.gov.

Advisory Opinions

DATETITLE
12/27/2006Payment "Convenience Fees"
07/14/2004Insurance Subrogation Claims
01/03/2000Repossession Companies Acting as Collection Agencies
10/12/1995Service of Summons and Complaint with a Validation Notice
03/31/1995Inapplicability of C.R.S. §13-21-109 to Consumer Credit Transactions Including Post-Dated Checks/Payday Loans
08/30/1994Pursuit of Civil Penalties Arising from Shoplifting Violations
08/12/1994Persons Required to be Licensed as a Colorado Collection Agency
08/12/1994Addition of Collection Costs to Principal Debt
07/27/1994Collection Efforts During 30-Day Validation Period
11/15/1993Attorney Collection Agencies
11/12/1993Billing Services and "In-House" Contract Debt Collectors
07/09/1993Licensing for Support Collections
03/01/1993Dishonored Checks
07/22/1992Insufficient Funds Law, ­­§13-21-109, C.R.S.
12/11/1991Collection of Interest on Dishonored Checks
10/16/1991Loan Servicing
09/20/1991Applicability of Collection Agency Board Licensing Requirements to a Check Guarantee Company
05/01/1991Attorneys Subject to Colorado Fair Debt Collection Practices Act
04/10/1991In-State Office Requirements and Validation Notice
03/26/1991Communication by Faxes (Board Policy Statement)
01/08/1991Rule 2.03
12/19/1990Creditor's Use of a Registered Trade Name in the Collection of its Own Debts
12/19/1990Governmental Agency's Use of a Third-Party Name to Collect its Debts
12/03/1990Attorney Collection Agencies
07/10/1990Branch Office Licenses
06/15/1990Collection Agencies as Supervised Lenders
10/18/1989Mechanic's Liens
08/25/1989"Bad Check"/Treble Damages Law - Assert Liability (Board Policy Statement)
04/14/1989Costs of Collection (Board Policy Statement)
02/24/1989Third-Party Contact - Business Cards (Board Policy Statement)
05/11/1988Tax Liabilities as Debts

 

Collection Agency Regulation: 2017-18 Renewal Center

2017-18 COLLECTION AGENCY LICENSE RENEWAL APPLICATION

Memo to Licensed Collection Agencies


Frequently Asked Questions

Can I submit the license renewal application forms electronically or via fax?

No. Our office requires all forms be submitted with an original signature. 


Can I submit an audited financial statement in lieu of the Verified Financial Statement form provided in the license renewal application?

No.  The Verified Financial Statement form provided by our office must be completed.  


Do I need to submit a separate Out-of-State Trust Account Affidavit for each out of state account?

Yes.


Our collection agency does not receive or have access to any consumer payments as all payments are made directly to our client(s). Do we need a Trust Account?

A trust account may not be required upon determination by our office that compliance with CFDCPA Rule 3.01(3) 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 Section 12-14-123(1)(c), C.R.S. and CFDCPA Rule 3.01(3).


When and how will I receive our 2017-18 license renewal certificate?

Once your renewal application has been reviewed and deemed complete by our office, the 2017-18 license renewal certificate will be emailed to the licensing contact provided on the renewal application form. 

Please note that due to the high volume of renewal applications, it may take several weeks 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.


I was notified that I need to submit a revised form(s) - how do I resubmit the completed form(s)?

Each section of the renewal application is available on the right side of this webpage.  Please complete, originally sign, and mail the resubmission to our office.  To ensure the forms reach us by the deadline, you may wish to use overnight mail services or another method that provides proof of delivery.


What happens if I don't complete the license renewal application and/or pay the renewal fee by July 1st?

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.

Colorado Attorney General Senior Staff

Chief Deputy Attorney General Melanie J. Snyder

Melanie J. Snyder serves as the Chief Deputy Attorney General for the State of Colorado.  Melanie oversees the litigation for the State and the legal counsel to all state executive and judicial agencies.  She coordinates legal policy and acts as the intergovernmental liaison on behalf of Attorney General Cynthia H. Coffman and the Colorado Department of Law.

Melanie joined the Attorney General’s Office in 2008 and has provided general counsel advice and representation in civil litigation and on appeal to a number of state clients on a variety of complex issues.  She is a Commissioner on the Colorado Supreme Court Chief Justice’s Commission on Professional Development.  Prior to being appointed as Chief Deputy, Melanie was Chief of Staff to Attorney General Coffman. She previously served as the Deputy Attorney General of the Revenue & Utilities Section, overseeing the representation of the Department of Revenue, Litigation Staff of the Public Utilities Commission, and the Property Tax Administrator. Before joining the office, Melanie practiced commercial litigation in large and small firms in Denver. 

She received her J.D. degree from the University of San Diego School of Law and B.A. degrees in Political Science and Psychology from the University of Arizona. Melanie was born and raised in Arizona but married a Colorado native and together they have two children.

 

 

Chief of Staff Leora Joseph

Leora oversees the management of the Colorado Department of Law, including its administration functions as well as its professional development and community engagement initiatives. Leora joined the office in June of 2017.

Prior to serving as Chief of Staff, Leora served as a Senior Chief Deputy District Attorney in the Denver District Attorney’s Office and the Managing Chief Deputy District Attorney in the 18th Judicial District Attorney’s Office. Leora has extensive experience in prosecuting cases involving vulnerable victims, including cases of sexual assault, child abuse, human trafficking, domestic violence, elder abuse and crimes against those with Intellectual and developmental disabilities. In addition to managing units handling sensitive cases, Leora was also appointed by the Governor to serve on the Statewide Child Fatality Review Team.

Leora relocated from Boston to Denver with her family in 2012. In Boston, Leora worked as a prosecutor for the Suffolk County District Attorney for 16 years. There, she served as Chief of the Child Protection Unit and Deputy Chief of the Family Protection and Sexual Assault Unit. Leora has frequently guest lectured at many universities and Law schools, including Harvard. Leora attended McGill University Law School and received her B.A. from Barnard College at Columbia University. She lives in Denver with her husband and three children.

Colorado Solicitor General Frederick R. Yarger

Colorado Attorney General Cynthia H. Coffman appointed Fred Yarger as Solicitor General of Colorado in April 2015.

From 2012 through 2013, Yarger was Assistant Solicitor General for the Office of the Attorney General, working directly with former Solicitor General Daniel D. Domenico to oversee the office’s appellate and constitutional practice. Yarger was previously a lawyer with Gibson, Dunn & Crutcher, an international litigation firm with particular expertise in appellate matters. Earlier in his career, he served as judicial law clerk to the Honorable Mark Filip of the United States District Court for the Northern District of Illinois and to the Honorable Timothy Tymkovich of the United States Court of Appeals for the Tenth Circuit. Yarger earned a Juris Doctorate with honors from the University of Chicago Law School, where he was elected to the order of the coif and won awards for legal writing and appellate advocacy. He received his B.A. magna cum laude and with honors from Dartmouth College. He lives in Denver with his wife and two sons.

The Solicitor General supervises and determines legal strategy for appeals cases, as well as select constitutional litigation, handled by the Colorado Attorney General’s Office and is counsel of record for the State of Colorado before the United States Supreme Court. He is also responsible for coordinating formal Attorney General Opinions, evaluating requests for Colorado’s participation in litigation as amicus curiae, reviewing and approving proposed regulations from client agencies, supervising the office’s deputy and assistant solicitors general, and approving special assistant attorney general appointments.

Director of Legislative Affairs Jennifer M. Anderson

Jennifer M. Anderson joined the Colorado Attorney General’s Office in December of 2014. Jennifer serves as the Colorado General Assembly’s point of contact for the Department of Law. She is responsible for overseeing the Attorney General’s legislative agenda, as well as all other legislation that impacts the Department of Law.

Prior to joining the Attorney General’s office, Ms. Anderson practiced water and utility law at large regional law firms in Denver and Albuquerque. She served as the Director of Alcohol and Gaming at the New Mexico Regulation and Licensing Department from 2012-2014. Prior to law school, Jennifer received a J. William Fulbright Foreign Scholarship to South Korea and worked at the New Mexico State Legislature as a policy analyst.

Jennifer has an undergraduate degree from the University of Denver and graduated magna cum laude from the University of New Mexico School of Law. She is licensed to practice law in both Colorado and New Mexico.