What is different about the new rules?
In summary, collection agencies are now required to notify Colorado consumers of their local Colorado office address and telephone number on all written correspondence. In addition, the office must accept payments for any debt the agency is attempting to collect. While Colorado has required a local Colorado office for a long time there has never been a requirement to notify debtors. Therefore, the practical consequence of the new law is regular daily contact with Colorado consumers on behalf of the out-of-state collection agency. Every time a debtor contacts the agency’s local office there is legal exposure and the potential threat of lawsuit if that interaction is not correctly handled.
For the exact text of the new law that took effect July 1, 2010 click here.
For the exact text of rule changes that took effect July 30, 2010 click here.
How do we comply with the requirement that the local Colorado office “keeps a record of all moneys collected and remitted by the agency for residents of Colorado?"
The State has always accepted telephone communication as an adequate source of information for debtor records. Colorado Manager requests that all clients provide a toll free telephone number that may be used for this purpose. We do not need access to your system. The rules were actually modified to more explicitly recognize this:
RULE 1.09 LOCAL COLORADO OFFICE
(B) MAINTAINS AT THAT OFFICE RECORDS, OR FREE AND EASY
ACCESS TO RECORDS, OF ALL MONEYS COLLECTED AND REMITTED
FOR COLORADO RESIDENTS;
Are there placement and font requirements for the address and phone number notification?
There is no specific requirements for the notification, except for these rules:
*may not be printed only on any portion of the collection notice designed to be returned to the agency with the consumer’s communication or payment.
*may be printed on two (2) separate pages provided that the first page contains language referring the consumer to the second page and the two (2) pages are attached together.
We recommend including our address and phone in an inconspicuous place - typically with other required disclaimers. Be sure that your toll free number is the most obvious option because in most cases this is the most helpful to the consumer.
How will Colorado Manager, Inc. comply with the CFDCPA , now that the rules specifically require compliance with applicable provisions by the local Colorado office?
Colorado Manager, Inc. has always complied with the applicable provisions of the CFDCPA, even as the rules have changed over the years. This is all we do, and your company can expect full compliance. Frankly, only a small portion of the rules apply to the local Colorado office. We are careful not to behave in any way as a debt collector, and to maintain the strictest privacy standards, and treat all consumers with courtesy and respect.
What address and phone number should be used on debtor correspondence? Is this the same address that should be used on our renewal application?
For all purposes please use this address and phone number:
Colorado Manager, Inc.
80 Garden Center, Suite 3
Broomfield, CO 80020
How will Colorado Manager, Inc. display the name of our company?
We display a complete list of the companies we represent in the plate glass window of our office.
>>See photos of office here
How will Colorado Manager, Inc. handle payments?
If a debtor visits our office to make a payment we will give the debtor a receipt (we will keep a copy), and send the payment and a copy of the receipt to the client the next day via USMail (not including weekends or holidays). If the client provides a fedex account number we can overnight the payments. We will only accept cash or check. If a client comes to the office and wants to pay by credit card, they may call the company from our office an make the payment over the phone. If we find that we actually do experience a high volume of payments being walked in, we will employ something more automated, and possibly begin using an escrow account. If we receive payments in the mail, we will handle them the same way we forward all mail. (See next FAQ)
How does Colorado Manager, Inc. handle mail for our company?
All mail is opened, scanned, and sent as an email attachment to the collection agency. If the mail contains sensitve information (eg: checking account numbers, social security numbers, etc.) then we send a scan that has the sensitive inofrmation omitted, and forward the original via USMail.
What if my company requires a higher level of security?
We are always happy to accommodate special handling requests. We are able to send anything via Fedex or UPS as long as the collection agency provides their billing account number. We are also able to send attachments that require a password to open for increased confidentiality. We have many clients for whom we have customized our procedure. We are glad to design a custom solution for your agency.
How does Colorado Manager, Inc. handle service of process?
We scan and email the summons within four hours (during normal business hours), and always request confirmation of receipt. We also provide the time and method of receipt. If confirmation of receipt has not been received within the next four hours we call our client contact and ensure receipt by fax or mail if necessary.
How does Colorado Manager, Inc. answer the phone?
Callers first hear "You have reached Colorado Manager, the local Colorado office for out of state professional debt collection agencies, and then the "mini Miranda", and then an attendant answers the phone "May I help you". This is important to ensure that consumers are not misled in any way, in order to strictly comply with the Rules of the Administrator. In most cases, when debtors call they are interested in discussing their account. We instruct them to call the toll free number on the letter they received.
Does Colorado Manager, Inc. have Errors & Omissions insurance?
Yes we do. Any client may request details of the policy, and proof for their records.
Does Colorado Manager, Inc. need to display a copy of our Colorado Collection Agency license?
No, there is no such requirement.
What are the "normal business hours" that Colorado Manager is open?
We are open 9-5 (Mountain time) Monday through Friday. We accept walk-in payments between 10am and 4pm or by appointment.