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2018 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Debt Management
Article 16 - Colorado Fair Debt Collection Practices Act
§ 5-16-111.5. Fees, costs, and costs of collection - limitation
Universal Citation: CO Rev Stat ยง 5-16-111.5 (2018)
- (1) Except as described in subsection (2) of this section, a private collection agency or privately retained attorney collecting on any debt arising from past-due orders, obligations, fines, or fees due to the state, or due to any political subdivision within the state, may add to the amount due that has been placed for collection all fees, costs, and costs of collection, including designated contractual attorney fees and costs that are awarded by a court of competent jurisdiction. Exclusive of the accrual of interest and court costs, any fees, costs, and costs of collection may not exceed eighteen percent in the aggregate unless additional reasonable attorney fees are awarded by a court of competent jurisdiction.
(2) Subsection (1) of this section does not apply if the state or political subdivision of the state has sold the debt to a third party.
(3) Notwithstanding section 24-1-136 (11)(a)(I), on or before January 1, 2023, and on or before January 1 every five years thereafter, the state auditor shall review the rate described in subsection (1) of this section and the aggregate fee described in section 24-30-202.4 (8)(a) and report the results of his or her review to the finance committees of the senate and the house of representatives or any successor committees. The report may include any recommendations of the state auditor regarding raising or lowering the rate or the aggregate fee.
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