Title 5, Consumer Credit Code
0 chapters · 368 sections in this title.
Colo. Rev. Stat. § 5-16-111.5 Fees, costs, and costs of collection - limitation
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(1) Except as described in subsection (2) of this section, a private collection agency or privately retained attorney collecting on any debt arising from past-due orders, obligations, fines, or fees due to the state, or due to any political subdivision within the state, may add t…
Colo. Rev. Stat. § 5-16-112 Deceptive forms
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(1) It is unlawful for any person to design, compile, and furnish any form knowing that the form would be used to create the false belief in a consumer that a person other than the creditor of the consumer is participating in the collection or in the attempted collection of a deb…
Colo. Rev. Stat. § 5-16-113 Civil liability
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(1) In addition to administrative enforcement pursuant to section 5-16-114 and subject to section 5-16-132 and the limitations provided by subsection (10) of this section, and except as otherwise provided by this section, any debt collector or collection agency who fails to compl…
Colo. Rev. Stat. § 5-16-114 Administrative enforcement - rules
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Compliance with this article 16 shall be enforced by the administrator. The administrator may make reasonable rules for the administration and enforcement of this article 16, including standards of conduct for licensees and collection notices and forms. Source: L. 2017: Entire ar…
Colo. Rev. Stat. § 5-16-115 License - registration - unlawful acts
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(1) It is unlawful for any person to: (a) Conduct the business of a collection agency or advertise or solicit, either in print, by letter, in person, or otherwise, the right to make collection or obtain payment of any debt on behalf of another without having obtained a license un…
Colo. Rev. Stat. § 5-16-116 Collection agency board - created. (Repealed)
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Source: L. 2017: Entire section repealed, (SB 17-216), ch. 285, p. 1579, � 6, effective June 1; entire article added with relocations, (HB 17-1238), ch. 260, p. 1092, � 1, effective August 9. Editor's note: This section was numbered as � 12-14-116 in SB 17-216 (see L. 2017, p. 15…
Colo. Rev. Stat. § 5-16-117 Powers and duties of the administrator
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(1) Repealed. (2) The administrator is authorized to approve or deny any application submitted pursuant to this article 16 and to issue any license authorized by this article 16. (3) Any complaint received by the administrator regarding violations of this article 16 by an attorne…
Colo. Rev. Stat. § 5-16-118 Collection agency license - required
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Any person acting as a collection agency must possess a valid license issued by the administrator in accordance with this article 16 and any rules adopted pursuant thereto. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1093, � 1, effective Augu…
Colo. Rev. Stat. § 5-16-119 Collection agency license - requirements - application - fee - expiration - definition
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(1) As requisites for licensure, an applicant for a collection agency license shall: (a) (I) Be owned by, or employ as collections manager or an executive officer of the agency, at least one individual who has been engaged in a responsible position in an established collection ag…
Colo. Rev. Stat. § 5-16-120 License - issuance - grounds for denial - appeal - contents
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(1) Upon the approval of the license application by the administrator and the satisfaction of all application requirements, the administrator shall issue the applicant a license to operate as a collection agency. (2) The administrator may deny any application for a license or its…
Colo. Rev. Stat. § 5-16-121 Collection agency license - renewals
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Each licensee shall make an application to renew its license in the form and manner prescribed by the administrator. The application shall be accompanied by a nonrefundable renewal fee in an amount determined by the administrator. Source: L. 2017: Entire article added with reloca…
Colo. Rev. Stat. § 5-16-122 Collection agency license - notification of change and reapplication requirements
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(1) (a) Upon any of the following changes, the licensee shall notify the administrator in writing of the change within thirty days after its occurrence: (I) Change of business name or address; (II) If a corporation or limited liability company, change in ownership of ten or more …
Colo. Rev. Stat. § 5-16-123 Duties of collection agencies
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(1) A licensee shall: (a) Maintain, at all times, liquid assets in the form of deposit accounts in the total sum of not less than two thousand five hundred dollars more than all sums due and owing to all of its clients; (b) (I) (A) Maintain, at all times, an office within this st…
Colo. Rev. Stat. § 5-16-124 Bond - definition
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(1) Each licensee shall maintain at all times and each applicant shall file, prior to the issuance of any license to the applicant, a bond in the sum of twelve thousand dollars plus an additional two thousand dollars for each ten thousand dollars or part thereof by which the aver…
Colo. Rev. Stat. § 5-16-125 Unlawful acts
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(1) In addition to the unlawful acts specified in sections 5-16-112 and 5-16-115, it is unlawful and a violation of this article 16 for any person: (a) To refuse or fail to comply with section 5-16-104, 5-16-105, 5-16-106, 5-16-107, 5-16-108, 5-16-109, 5-16-110, 5-16-118, 5-16-11…
Colo. Rev. Stat. § 5-16-125.5 Statute of limitations - actions by administrator
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An action or proceeding brought by the administrator pursuant to this article 16 or pursuant to any rule issued by the administrator under this article 16 must be brought within two years after the date on which the violation occurred. Source: L. 2017: Entire section added, (SB 1…
Colo. Rev. Stat. § 5-16-126 Criminal penalties
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Any person who violates any provision of section 5-16-125 (1), (2), (3), or (4) commits a class 1 misdemeanor and shall be punished as provided in section 18-1.3-501. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1101, � 1, effective August 9. …
Colo. Rev. Stat. § 5-16-127 Complaint - investigations - powers of administrator - sanctions
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(1) Upon filing with the administrator by any interested person a written complaint charging any person with a violation of this article 16, any rule adopted pursuant to this article 16, or any lawful order of the administrator, the administrator shall conduct an investigation. (…
Colo. Rev. Stat. § 5-16-128 Debt collectors for the department of personnel - complaint - disciplinary procedures
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(1) Any interested person may file a written complaint with the executive director of the department of personnel charging a debt collector in the employ of the department of personnel with a violation of: (a) This article 16 or a rule promulgated pursuant to this article 16; (b)…
Colo. Rev. Stat. § 5-16-129 Records
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The administrator shall keep a suitable record of all license applications and bonds required to be filed. The record shall state whether a license has been issued under the application and bond and, if revoked, the date of the filing of the order of revocation. The administrator…
Colo. Rev. Stat. § 5-16-130 Jurisdiction of courts
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County courts shall have concurrent jurisdiction with the district courts of this state in all criminal prosecutions for violations of this article 16. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1104, � 1, effective August 9. Editor's note: …
Colo. Rev. Stat. § 5-16-131 Duty of district attorney
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It is the duty of the district attorney to prosecute all violations of the provisions of this article 16 occurring within his or her district. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1104, � 1, effective August 9. Editor's note: This sect…
Colo. Rev. Stat. § 5-16-132 Remedies
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The remedies provided in this article 16 are in addition to and not exclusive of any other remedies provided by law. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1104, � 1, effective August 9. Editor's note: This section is similar to former �…
Colo. Rev. Stat. § 5-16-133 Injunction - receiver
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The district court in and for the city and county of Denver, upon application of the administrator, may issue an injunction or other appropriate order restraining any person from a violation of this article 16 and may appoint a receiver or award other relief to effectuate the pro…
Colo. Rev. Stat. § 5-16-134 Disposition of fees and fines - definition - repeal
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(1) (a) All revenue, except fines, collected pursuant to this article 16 before July 1, 2024, shall be collected by the administrator and transmitted to the state treasurer, who shall credit the money to the collection agency cash fund, which fund is created and referred to in th…
Colo. Rev. Stat. § 5-16-134.5 Debts sold or resold after January 1, 2018
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This article 16 applies to debt buyers with respect to consumer debts sold or resold on or after January 1, 2018. Source: L. 2017: Entire section added, (SB 17-216), ch. 285, p. 1581, � 11, effective June 1. Editor's note: This section was numbered as � 12-14-136.5 in SB 17-216 (…
Colo. Rev. Stat. § 5-16-135 Repeal of article
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This article 16 is repealed, effective September 1, 2028. Before its repeal, this article 16 is scheduled for review in accordance with section 24-34-104. Source: L. 2017: Entire section amended, (SB 17-216), ch. 285, p. 1577, � 2, effective June 1; entire article added with relo…
Colo. Rev. Stat. § 5-17-101 Legislative declaration
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The general assembly finds and determines that, to ensure that families receive the maximum amount of child support established by court or administrative order, additional consumer protections are needed for parents entitled to receive child support who contract with private col…
Colo. Rev. Stat. § 5-17-102 Definitions
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As used in this article 17, unless the context otherwise requires: (1) Arrears or arrearages shall have the same meaning as provided in section 26-13.5-102 (2). (2) Child support means any amount required to be paid pursuant to a judicial or administrative child support order. (3…
Colo. Rev. Stat. § 5-17-103 Application of the Colorado Fair Debt Collection Practices Act
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(1) Except as otherwise provided by the particular provisions of this article 17, this article 17 supplements the requirements of the Colorado Fair Debt Collection Practices Act, article 16 of this title 5, including but not limited to prohibited practices, licensing, and adminis…
Colo. Rev. Stat. § 5-17-104 Prohibited practices
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(1) A collector may not engage in any fraudulent, unfair, deceptive, or misleading act or practice in soliciting an obligee to enter into a contract for the provision of child support enforcement services or in offering or performing a service pursuant to such a contract, includi…
Colo. Rev. Stat. § 5-17-105 Fees
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(1) A private child support collector may not charge an obligee a fee unless: (a) Before the obligee authorizes the fee, the amount of the fee, including the basis upon which the amount of the fee is calculated, is described accurately to the obligee in simple, easy-to-understand…
Colo. Rev. Stat. § 5-17-106 Requirements relating to private child support enforcement service contracts
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(1) In order to perform a child support enforcement service for an obligee, a collector shall enter into a written private child support enforcement service contract that: (a) Meets the requirements of this section; (b) Has been delivered to the obligee in a form that the obligee…
Colo. Rev. Stat. § 5-17-107 Accounting for collections
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(1) A collector shall, on a monthly basis, provide to the obligee an accurate and up-to-date accounting that meets the requirements of rules promulgated by the administrator under section 5-17-113. The accounting shall be provided to the obligee by mail, telephone, or secure inte…
Colo. Rev. Stat. § 5-17-108 Verification of account information
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(1) In lieu of section 5-16-109, the following verification provisions shall apply to the collection of child support by a collector: (a) Not later than five days after a collector initially communicates with an obligor on behalf of an obligee with respect to the collection of ch…
Colo. Rev. Stat. § 5-17-109 Cancellation or termination of private child support enforcement service contract
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(1) An obligee may cancel a private child support enforcement service contract with a collector at any time within thirty days of signing the contract or after any twelve consecutive months in which the collector fails to make a collection. The notification of cancellation shall …
Colo. Rev. Stat. § 5-17-110 Civil liability
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The provisions of section 5-16-113, with the exception of the statute of limitations set forth in section 5-16-113 (5), shall apply to any violation of this article 17 and are in addition to and not exclusive of any other remedies provided by law. Source: L. 2017: Entire article …
Colo. Rev. Stat. § 5-17-111 Administrative enforcement
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This article 17 shall be enforced by the administrator, as defined in section 5-16-103 (1), and may be enforced as provided in article 16 of this title 5. Except as otherwise provided in or limited by this article 17, all rules adopted pursuant to section 5-16-114 shall apply to …
Colo. Rev. Stat. § 5-17-112 Statute of limitations
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(1) An action to enforce any liability under this article 17 may be brought before the later of: (a) The end of the five-year period beginning on the date of the occurrence of the violation involved; or (b) In a case in which a collector willfully misrepresents any information th…
Colo. Rev. Stat. § 5-17-113 Notice - rules
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(1) The administrator shall promulgate rules related to the notice required to be provided to the obligee in section 5-17-106 (2) and the accounting required to be provided in section 5-17-107. (2) The notice required by section 5-17-106 (2) shall, at a minimum, address the follo…
Colo. Rev. Stat. § 5-18-101 Short title
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The short title of this article 18 is the Colorado Consumer Credit Reporting Act. Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1114, � 3, effective August 9. Editor's note: This section is similar to former � 12-14.3-101 as it existed prior to…
Colo. Rev. Stat. § 5-18-102 Legislative declaration
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The general assembly finds and declares that the use of consumer reporting agencies is increasing rapidly as consumer credit transactions become the rule rather than the exception in every-day consumer purchasing. Consumer credit reports by consumer reporting agencies may report …
Colo. Rev. Stat. § 5-18-103 Definitions
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As used in this article 18, unless the context otherwise requires: (1) Adverse action includes: (a) The denial of, increase in any charge for, or reduction in the amount of insurance for personal, family, or household purposes; (b) The denial of employment or any other decision f…
Colo. Rev. Stat. § 5-18-104 Permissible purposes - prohibition
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(1) A consumer reporting agency may furnish a consumer report only under the following circumstances: (a) In response to an order of a court having jurisdiction to issue such an order; (b) In accordance with the written instructions of the consumer to whom it relates; and (c) To …
Colo. Rev. Stat. § 5-18-105 Consumer reports - accuracy of information
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Whenever a consumer reporting agency prepares a consumer report, including reports that include criminal justice records, the agency shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the consumer about whom the report relates, in…
Colo. Rev. Stat. § 5-18-106 Disclosures to consumers
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(1) A consumer reporting agency shall, upon written or verbal request and proper identification of any consumer, clearly, accurately, and in a manner that is understandable to the consumer, disclose to the consumer, in writing, all information in its files at the time of the requ…
Colo. Rev. Stat. § 5-18-107 Credit scoring related to the extension of credit secured by a dwelling - definition
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(1) In connection with an application for an extension of credit for a consumer purpose that is to be secured by a dwelling, the consumer reporting agency shall, upon the written request of the consumer, contained either in the application for an extension of credit or in a separ…
Colo. Rev. Stat. § 5-18-108 Charges for certain disclosures
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(1) A consumer reporting agency shall not impose a charge for: (a) A request for a copy of the consumer's file made within sixty days after adverse action is taken; or (b) Notifying any person designated by the consumer, pursuant to the applicable provisions of the federal Fair C…
Colo. Rev. Stat. § 5-18-109 Reporting of information prohibited - exceptions - repeal
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(1) Except as authorized under subsection (2) of this section, a consumer reporting agency shall not make any consumer report containing any of the following items of information: (a) Cases under title 11 of the United States Code, or under the federal bankruptcy act that, from t…
Colo. Rev. Stat. § 5-18-110 Procedure for disputed information
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(1) If the completeness or accuracy of any item of information contained in the consumer's file is disputed by the consumer and the consumer notifies the consumer reporting agency directly of the dispute, the agency shall reinvestigate the item free of charge and record the curre…