A Colorado supervised lender's license is required to engage in the business of supervised loans. A supervised loan is a consumer loan with an annual percentage rate greater than 12% per year. Consumer loans include both secured and unsecured consumer loans; deferred deposit loans (also known as payday loans, post-dated check cashing, and/or deferred deposit lending); small installment loans; credit cards; consumer insurance premium financing; and certain real estate secured loans. For more information on licensing requirements and exemptions, please refer to the Colorado Uniform Consumer Credit Code.

Application Forms

• Master License Application
• Branch License Application

General Forms

• Address Change
• Personal Affidavit
• Surety Bond
• Cash Assignment
• Citizenship/Lawful Residency Affidavit

Notification Filers

Retail Sales - FAQs

Credit sellers and retail merchants that regularly extend consumer credit as a "creditor" must file the notification form and pay the notification fee within 30 days after commencing business in Colorado and thereafter, on or before January 31 of each year. 

• Credit Sales/Sellers & Lessors Information
• 2018 Initial Notification Form

If you have failed to file notification for previous years, please fill out each applicable year's notification form below and submit along with the required notification and late fees:

2017 | 2016 | 2015 | 2014

*Please note you will not be considered an active Retail Sales Notification Filer until all notification forms and fees have been submitted*

Sales Finance - FAQs

Sales finance companies that regularly collect consumer credit contracts must file the notification form and pay the notification and volume fees within 30 days after commencing business in Colorado and thereafter, on or before January 31 of each year. 

• Sales Finance/Assignees Information
• Due Diligence - General Advisory
• 2018 Initial Notification Form

If you have failed to file notification for previous years, please fill out each applicable year's notification form below and submit along with the required notification, volume, and late fees:

2017 | 2016 | 2015 | 2014

*Please note you will not be considered an active Sales Finance Notification Filer until all notification forms and fees have been submitted*

Rent-to-Own - FAQs

Colorado regulates the rent-to-own industry under the Colorado Rental Purchase Agreement Act. Rent-to-own businesses must file notification and pay the notification fee within 30 days after first soliciting or entering into rental purchase agreements and thereafter, on or before January 31 of each year.

• Rent-to-Own Information
• 2018 Initial Notification Form

If you have failed to file notification for previous years, please fill out each applicable year's notification form below and submit along with the required notification fee:

2017 | 2016 | 2015 | 2014

Please select one of the following business types to ensure we direct you to the proper complaint review agency.  Depending on your complaint form selection, you may be rerouted to the Colorado Attorney General's Consumer Fraud initiative, www.stopfraudcolorado.gov.

Administrator's Advisory Opinions

Please note: Opinions may not be applicable due to changes in the law or renumbering of statutes.

Meetings

The Colorado Collection Agency Board does not currently have an upcoming meeting scheduled.

Previous Meetings

Monday, April 25, 2016 - Meeting Agenda
Thursday, October 15, 2015 - Meeting Agenda | Meeting Minutes

News

AG Coffman Announces $491,000 Judgment Against Illegal and Abusive Debt Collection Agency

Colorado Attorney General Cynthia H. Coffman announced that her office has shut down the unlicensed debt collection company, Peak Resolution, LLC, and secured a judgment requiring the defendants to pay approximately $491,000 in consumer restitution, penalties, and attorney fees.  Dan Cane, Peak Resolution's owner, and Chris Hagerman, the company's primary manager, are also subject to the judgment.

Peak Resolution operated out of the Denver area from early 2014 through January 2015, illegally collecting money from thousands of consumers under its own name and various aliases, including PR & Associates; Paramount Recoveries; and Mile High Mediation, LLC.

Click here to read the full press release issued by Colorado Attorney General Cynthia H. Coffman.

Colorado Attorney General Cynthia H. Coffman has announced additional actions against debt collectors resulting from Colorado's collaboration with the Federal Trade Commission and its Operation Collection Protection ("OCP"). OCP is a collaborative effort to crackdown against abusive debt collectors nationwide. Led by the FTC, OCP includes more than 70 law enforcement partners.

In addition to the first round of actions announced in November 2015 and available here, the Colorado Attorney General's Office has announced three additional actions:
 

• Collect Pros LLC
• 4 Star Resolutions, LLC
• PC Legal Services LLC

Click here to read the full press release issued by Colorado Attorney General Cynthia H. Coffman.

FTC Press Release

File a Complaint

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.

Collection Agency License Application

General Forms

• Address Change Form
• Collections Manager Change Form (also includes a Collections Manager Form)
• Personal Affidavit
• Out-of-State Trust Account Affidavit
• Surety Bond
• Citizenship/Lawful Residency Affidavit

File a Complaint

In November 1998, forty-six states, the District of Columbia and five U.S. territories (the states) entered into a settlement agreement with the four largest tobacco companies in the United States.  This agreement, called the Master Settlement Agreement (MSA), restricts tobacco companies’ marketing practices and requires them to pay a projected $206 billion over twenty-five years to the states.

The Office of the Attorney General is responsible for enforcing the MSA and for seeing that tobacco product manufacturers who have not signed the MSA comply with the Colorado Tobacco Escrow Funds Act.

1. The health club has been in operation in this state more than two years; and
2. The health club maintains a bond with a corporate surety from a company authorized to do business in this state or other security acceptable to and approved by the attorney general; and
3. The aggregate amount of the bond is one hundred thousand dollars for each club location; and
4. The bond is payable to the state for the benefit of any buyer injured in the event the health club goes out of business prior to the expiration of the buyer's membership contract; and
5. The bond is maintained for so long as the health club has any membership contracts in place and outstanding, the specified term for which exceeds twenty-four months; and
6. The bond is not cancelled, revoked, or terminated except after notice to, and with the written consent of, the attorney general at least forty-five days in advance of such cancellation, revocation, or termination; and
7. The annual renewal option for continued membership contained in the membership contract is not automatic but requires that the buyer affirmatively accept the renewal option by notice in writing to the person selling the membership contract for reasonable consideration on or before the expiration of each contract term, but not more than six months prior to the expiration of any contract term; and
8. In the event that the health club elects to cancel, revoke, or terminate the bond, it posts a notice of such action, in twenty-four-point bold-faced type, to its customers, on the front door of such health club

Under Colorado law (§ 4-9-629, C.R.S.), any person who is retained by a secured party to recover or take possession of collateral upon default is required to be bonded for property damage to or conversion of such collateral in the amount of at least $50,000. Such bond shall be filed with and drawn in favor of the Colorado Attorney General.

To file a repossessor bond, send the following items to the Colorado Attorney General, Consumer Protection Unit, 1300 Broadway, 7th Floor, Denver, Colorado 80203:

1) Completed Application for Repossessor Bond (including a current partnership agreement or a Certificate of Good Standing or Certificate of Authority from the Colorado Secretary of State, as appropriate);

2) Original surety bond fully executed in the amount of at least $50,000 drawn in favor of the Colorado Attorney General (use Surety Bond Form); and

3) Non-refundable filing fee in the amount of $150, payable to the Colorado Department of Law.

Under Colorado law (§§ 6-1-301 to 305, C.R.S.) a "commercial telephone seller" may not conduct business in this state without having registered with the Colorado Attorney General at least ten days prior to the conduct of such business.  This applies to any commercial telephone seller located in Colorado and to any commercial telephone seller contacting prospective purchasers in Colorado.

To register, you may complete the Registration/Renewal Form and return it to this office with the initial $200 telemarketing registration fee. (Make checks payable to the “Colorado Department of Law.”) Subsequent annual renewal requires a properly completed Registration/Renewal Form and a $100 processing fee. Exemption Forms are also available to provide notice to the Attorney General of a claimed exemption from the registration requirements of the Colorado Telemarketing Fraud Prevention Act.

PLEASE NOTE that this procedure does NOT waive your obligation to register as a Telemarketer with the Colorado No-Call program. In order to complete that process, please contact the Colorado No-Call vendor at www.ColoradoNoCall.com. If you have questions regarding the list, you may call Chris Lowe at the Colorado Public Utilities Commission: 303-894-2074.