CO SB216

Extends the regulation of collection agencies under the Colorado Fair Debt Collection Practices Act from July 1, 2017 to September 1, 2028, implementing 2016 sunset report recommendations.

Defines "debt buyers" as persons who purchase delinquent or defaulted debt for collection purposes and subjects them to collection agency regulation requirements.

Requires debt collectors and collection agencies filing legal actions on debt buyer-owned debts to attach original creditor contracts, assignment documentation establishing ownership chain, and evidence establishing the debt amount and nature prior to default judgment.

Eliminates the collection agency board and transfers its powers to the Administrator of the Uniform Consumer Credit Code, who must issue biannual reports and attend annual industry and consumer advocacy meetings.

Exempts debt buyers from bond requirements if they do not provide third-party debt collection services, and establishes a two-year statute of limitations for administrator enforcement actions.