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Colorado Repossessor Bond

How much does a repossessor bond cost in Colorado?

The Colorado Consumer Protection Division requires repossessors who work in the state to provide a $50,000 bond. Your bond cost will be determined based on your credit report. Applicants with strong financials can qualify for low rates starting at 1%. SuretyBonds.com also offers an exclusive Bad Credit Bonding Program for applicants with financial issues.

The best way to determine how much your Colorado repossessor bond will cost is to contact an expert surety specialist who can provide you with a free surety bond quote with no obligation.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Repossessor Bond $50,000 Starts at $500 $1,500-5,000 $5,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get your bond, call SuretyBonds.com at 1 (800) 308-4358, or request a quote online now.

Why do I need this bond?

This bond ensures that repossessors are held accountable if consumers should be wronged in the course of recovering or taking possession of collateral. Acts prohibited by the statutes enforced by this bond include, but are not limited to:

  • using collateral or personal effects for the personal benefit of the principal
  • demanding a payment in lieu of repossession
  • selling recovered collateral for personal gain
  • unlawfully entering any private building or secured area without consent of the owner
  • altering inventory

For more information on this bond, contact a surety expert now.

What’s the fine print?

The company’s physical address must be listed on the bond form. The principal’s signature on the bond form must be witnessed by a licensed notary public.

Colorado repossessor surety bonds are continuous unless otherwise canceled. If the bond is to be canceled, 30 days notice prior to cancellation must be provided to the state.

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Additional Resources

Colorado Department of Law, Consumer Protection Section: Application for Repossessor Bond form

Attorney General Colorado Department of Law: Repossessor

Department of Law Attorney General, Consumer Protection Unit: Repossessor Bonds 4 CCR 904-1

Repossessor Bond Rules

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