Colorado Commercial Credit & Collection Information
INTEREST RATE
see
C.R.S. 5-12-101 et seq.
- Legal: 8%
- Judgment: 8% (or
higher if specified in contract or note)
STATUTE OF LIMITATIONS
(IN YEARS)
- Open Acct.: 3
- Written Contract: 6
(signed promissory note)
- Written Contract
Goods Services: 3
- Domestic Judgment
- District Court-20
(renewable every 20)
- County Court-6
(renewable every 6)
- Foreign Judgment: 6
in CO.
BAD CHECK LAWS (CIVIL
PENALTY) see
C.R.S.
13-21-109
Treble Damages & Reasonable Fees, no less than $100
GENERAL GARNISHMENT
EXEMPTIONS
See federal law.
COLLECTION AGENCY BOND
& LICENSE see.
C.R.S. 12-14-101 et seq.
- Bond: repealed
- License: Yes
- Fee: Determined by
collection agency board
- Exemption for
out-of-state collectors: Out of state collectors are exempt if [1]
collecting only by interstate means (phone, fax, mail); [2] have no
Colorado client; and [3] are regulated and licensed in the state in
which they reside.
|