Collection Agency Regulation: Licensing
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.
The 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.
Laws & Rules
- Colorado Fair Debt Collection Practices Act
- Rules - CFDCPA
- Colorado Child Support Collection Consumer Protection Act
- Rules - CCSCCPA
|Initial Investigation Fee||$500|
|New License Fee||$1000|
Colorado Department of Law
Consumer Protection Section, CAR
Ralph L. Carr Colorado Judicial Center
1300 Broadway, 6th Floor
Denver, CO 80203
Licensing: (720) 508-6020
Fax: (720) 508-6033