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Office of Economic Development and International Trade

Business Licensing Database
REPOSSESSOR

AUTO REPOSSESSOR AUTOMOBILE CAR REPOSSESSOR COLLATERAL REPOSSESSOR
REPO MAN REPOSSESSION REPOSSESSOR

State

Colorado Department of Law
Consumer Protection
1525 Sherman St, 5th Fl.
Denver , CO   80203
(303)866-4500
Fax: (303)866-5691
Definition: Person is acting as an agent for a creditor and is making third party contacts to repossess collateral.
Needs no license but is required to have $50,000 security bond purchased through an insurance agent and then filed with the Attorney General's office. There is a $150.00 application fee and an annual renewal fee of $25.00 filed with the Attorney General's Office. (4-9-629, C.R.S.)

Link:  http://www.ago.state.co.us/pdf/RepossessorBonds.pdf
If doing CAR REPOSSESSIONS: Must notify local law enforcement agency "at least one hour before or" NO LATER than one hour after repossession occurs. (42-6-146, C.R.S.)

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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