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Re: SOL for Colorado


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Posted by Razor (65.33.36.192) on April 23, 2002 at 23:45:26:

In Reply to: SOL for Colorado posted by anonymous on April 23, 2002 at 23:27:07:

STATE: COLORADO
INTEREST RATE

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)
Treble Damages & Reasonable Fees

GENERAL GARNISHMENT EXEMPTIONS
See federal law.

COLLECTION AGENCY BOND & LICENSE

Bond: $12,000 - 20,000
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 an\d licensed in the state in which they reside.



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