Collecting debt in the state of Colorado can often be an uphill battle if you go it alone. Working with a collection agency that knows Colorado collection laws can go a long way toward improving your chances of a successful debt recovery.
In order to boost your chances of collecting unpaid debts, you’ll want to contact a qualified debt collection agency immediately once you have doubts about an account. Time isn’t on your side when collecting in Colorado; it’s important to work with debt collectors who will go to work for you immediately.
Granted, professional debt collection may seem expensive, but when you consider the value of the time you’ll spend pursuing an unpaid account yourself, working with a collection agency usually makes financial sense for Colorado businesses. Whether you’re based in Denver, Colorado Springs, Aurora, Lakewood, Fort Collins, Thornton, Pueblo, Westminster, Arvada, or Highlands Ranch, getting started — and started soon — with an Colorado debt collection agency is a smart business move.
Colorado Collection Laws Interest Rate
|Judgment:||8% or contractual|
Colorado Collection Laws Statute Of Limitations
|Open Account:||3 years|
|Written Contract:||6 years|
|Goods & Services:||3 years|
|Domestic Judgment:||6 years (county court)
20 years (district court)
|Foreign Judgment:||6 years|
Colorado Collection Laws Bad Check Laws (NSF) (Civil Penalty)
|Treble Damages & Reasonable Fees|
Colorado Collection Laws General Garnishment Exemptions
|See federal law.|
Colorado Collection Laws Collection Agency Bond & Licensing Rules
|Bond:||$12,000 to $20,000|
|Fee:||Determined by collection agency board|
|Exemption for out-of-state collectors: Out of state collectors are exempt if  collecting only by interstate means (phone, fax, mail);  have no Colorado client; and  are regulated and licensed in the state in which they reside.|
If you’re looking for a collection agency that knows Colorado, contact Summit AR today for fast, friendly, and effective results.
Disclaimer: While we strive to keep our state resource data accurate and up-to-date, the information contained on this page is provided without any warranty (expressed or implied), and should not be considered legal advice. We assume no liability for its use.
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