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Office of Economic Development and International Trade

Business Licensing Database
COLLECTION AGENCY

BILL COLLECTOR COLLECTION AGENCY COLLECTIONS DEBT COLLECTORS

State

Colorado Department of Law
Collection Agency Board
1525 Sherman St, 5th Fl.
Denver , CO   80203
(303)866-5706
Fax: (303)866-5691
The Collection Agency Board enforces the Colorado Fair Debt Collection Practices Act and issues the following licenses: a. One-time investigation fee: $300 b. $750 initial license fee c. Annual License Renewal: $350 d. Collection Manager one-time exam and fee: $100.

Link:  http://www.ago.state.co.us/cadc/cadcmain.cfm
Any individual, firm or corporation is a collection agent if using a name other than its own, with the intention of indicating to the debtor that a third person has been employed in the collection business.
Attorneys are exempt from collection agency's license. HOWEVER, if attorney hires someone to do debt collection for clients, that person must be licensed.
There are requirements for consumer rights including disclosure requirements, boldface type, etc.
Out of state collection agencies who regularly collect debts in Colorado must also contact Colorado U.C.C.C.

Federal

U.S. Federal Trade Commission
600 Pennsylvania Ave, NW
Washington , DC   20580
(202)326-3553
(877)382-4357
Fax: (202)326-3197
Agencies must comply with the federal Fair Debt Collection Practices Act (FDCPA), which prohibits certain practices by debt collection agencies that collect debts for creditors.

Link:  http://www.ftc.gov/os/statutes/fdcpajump.htm

page last updated 8/5/05

The Colorado Revised Statutes are available on line at http://198.187.128.12/colorado/lpext.dll?f=templates&fn=fs-main.htm&2.0. You can locate a statute of interest by searching either on the citation given in the database (e.g., 18-5-307) or on a keyword or phrase.

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