The Full Colorado Collection Agency License Guide (2024)

Published: Jan 04, 2022

colorado collection agency license


Do you want to start a Colorado Debt Collection Agency?

You have to undergo the state procedure for licensing of such entities, which is a rigorous administrative process.

In order to obtain your Colorado collection agency license, you need to meet a set of requirements. They are set by the state Attorney General’s Office. They ensure that you are a suitable candidate for this profession. 

In the sections below, you can find out the criteria that you need to satisfy in order to get on the list of licensed collection agencies in Colorado. 

Meet the Colorado Collection Agency License Requirements

The Attorney General's Office is the licensing authority in the state that regulates the activities of collection agencies. It ensures that licensees follow the Colorado Fair Debt Collection Practices Act (CFDCPA) in their operations

You have to obtain a license in most cases. The exemptions include:

  • Attorneys engaged in debt collections
  • Agencies that collect debt for commercial, business, investment or agricultural purposes
  • Creditors who collect their own debts in their own name

The precise requirements for the licensing are detailed here. 

Business Documents

As a first step, you have to get a registration for your business entity with the Colorado Secretary of State. You will also need a Certificate of Good Standing from the same authority. 

The rest of the documents that you have to obtain include:

  • Personal information about principals
  • Previous history of the business and relevant debt-collection experience of the principals
  • Information about Colorado licensed manager 
  • Personal Affidavit for every collection agency owner, partner, member or officer
  • List of all debt collectors and solicitors currently employed
  • Proof of Colorado office
  • Trust account or receiving consumer payments
  • Sample validation/first notice containing Colorado specific consumer rights advisory
  • Debt purchase agreement (if applicable) 
  • Partnership Agreement (general partnerships only)
  • Branch office list
  • Debt collector and solicitor list 
  • Disclosure questions 

Financial Statements

You have to provide your financial statement for the previous year. It should showcase your net worth, assets, and liabilities. You need to submit it in the designated Financial Statement form. 

Post a Collection Agency Bond

Obtaining a Colorado collection agency bond is one of the major requirements that you need to satisfy to get licensed. The surety bond protects your customers and the state against potential illegal activities on your side.

The bond amount that you have to post is between $12,000 and $20,000. It is set on the basis of your yearly collection volume. You have to submit the bond in the official form

You have to pay a small fraction of the required amount in order to get bonded. It is called the premium, and depends on the strength of your personal and business finances. If they are strong, you can get rates between 0.75% to 5%

Want to check the exact cost of your Colorado collection agency bond? Fill in the short form below! 

Get a FREE Bond Quote Today!
Shopper Approved Ratings
By entering your number, you agree to receive mobile messages. Message frequency varies. Message and data rates may apply.
We'll never share your information with third parties.
No obligation | It Takes 2 minutes
Powered by

Complete the Colorado Collection Agency License Application

colorado collection agency licenseOnce you have collected all the necessary paperwork, it’s time to fill in the application form

Afterwards, you have to mail it to the Attorney General’s Office together with all supporting documents:

Colorado Fair Debt Collection Practices Act

Ralph L. Carr Colorado Judicial Center

1300 Broadway, 6th Floor

Denver, CO 80203

License and Registration Fees

The fees that you have to cover are the following:

  • $1,000 application fee
  • $500 investigation fee


Do you have more questions about your Colorado collection agency license and bonding? You can reach us at 877.514.5146

Get a FREE Surety Bond Quote in Minutes

  • cta-banner--shild
    Fast and Secure Application
  • cta-banner--money-back
    Money Back Guarantee
  • cta-banner--clock
    Approval in Minutes
  • cta-banner--coverage
    Nationwide Coverage
Get a FREE Surety Bond Quote in Minutes
  • Fast and Secure Application
  • Nationwide Coverage
  • Approval in Minutes
  • Money Back Guarantee
Companies we work with:
  • Image
  • Image
    Philadelphia insurance companies
  • Image
About Lance Surety Bonds

Lance Surety Bond Associates, Inc. is a surety bond agency based out of southeastern Pennsylvania that is able to write all surety bond types in all 50 states. We are dedicated to servicing all of our customers' surety bonding needs throughout the country and guarantee competitive rates, timely responses, and unparalleled customer service.

Subscribe to Our Newsletter
Stay updated with the latest by subscribing to our newsletter below.
Thanks for subscribing!