Keywords:
Auto Repossessor
Automobile
Car Repossessor
Collateral Repossessor
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.) |
|
Wednesday, July 18, 2012 – 18:51 pm
