Colorado State Information

Legal Status: Prohibited (Usury Cap)

Colo. Rev. Stat. 5-3.1-101 et seq. (2018 Ballot Measure capped APR at 36%)

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 6 Months
Maximum Finance Rate and Fees: The maximum APR cannot exceed 36%.
Finance Charge for 14-day $100 loan: Not applicable
APR for 14-day $100 loan: Not applicable

Debt Limits:
Maximum Number of Outstanding Loans at One Time: No limit if total debt does not exceed $500 and 30-days between loans
Rollovers Permitted: A loan may be renewed only once. Upon, renewal, the lender may assess a finance charge of no more than 36%. 
Repayment Plan:

Collection Limits:
Collection Fees: One $25 NSF fee; Court Costs; Reasonable Attorney's Fees not to exceed loan amount
Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date)

Where to Complain, Get Information:
Regulator: Colorado Office of the Attorney General
Address: 1300 Broadway, 10th Floor, Denver, CO 80203
Phone: 720-508-6000
Fax: 720-508-6030
Regulator Website

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