Colorado Bankruptcy Exemptions

Get Legal Help Today

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Nov 12, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Federal bankruptcy exemptions available? NO

The references to Colorado statutes are to the Colorado Revised Statutes.

Resources:

United States Bankruptcy Court, District of Colorado

Colorado Bankruptcy Attorneys

Colorado Bankruptcy Exemptions
Assets Exemption State Statute
Homestead Property consisting of mobile home, house trailer, manufactured home that you occupy: up to $60,000 if the debtor owns and occupies the property; up to $90,000 if the debtor or debtor’s spouse or dependent is disabled or over 60. 38-41-201; 38-41-201.5, 38-41-201.6
  Proceeds from the sale of a residence are exempt for a period of 2 years after they are received, if they are kept separate from other funds. 38-41-203;38-41-207
  Homestead exemptions are available to spouse and children of deceased owner. 38-41-204
Insurance Life insurance proceeds: all if there is a clause prohibiting use of proceeds to pay the creditors of the beneficiary. 10-7-106
  Group life insurance policy/proceeds: all. 10-7-205
  Benefits from a fraternal benefit society: all. 10-14-403
  Disability benefits: up to $200 per month or all of a lump sum. 10-16-212
  Life insurance cash surrender: up to $50,000 value for contributions made more than 48 months before filing for bankruptcy. 13-54-102(1)(l)
  Homeowner’s insurance proceeds: up to homestead exemption amount for 1 year after received. 38-41-209
Miscellaneous Property owned by business partnership: all. 7-60-125
  Child support: all. 13-54-102.5
Pensions Federal pension exemptions.  
  Veteran’s pensions (including spouse and dependents): all if veteran served in war or armed conflict. 13-54-102(1)(h); 13-54-104
  Benefits qualified under ERISA (IRAs and Roth IRAs): all 13-54-102(1)(s)
  Public employee pensions and defined contribution plans: all. 24-51-212
  Firefighter and police officer pensions: all. 31-30.5-208; 31-31-203
Personal Property Clothing: up to $1,500. 13-54-102(1)(a)
  Jewelry and other items of adornment: up to $2,000. 13-54-102(1)(b)
  Books and family pictures: up to $1,500. 13-54-102(1)(c)
  Burial plot: 1 per family member. 13-54-102(1)(d)
  Household goods: up to $3,000. 13-54-102(1)(e)
  Fuel and food: up to $600. 13-54-102(1)(f)
  Motor vehicle or bicycles used for work: up to $5,000; up to $10,000 if the debtor or a dependent who uses the vehicle is disabled or over 65. 13-54-102(1)(j)(l), (ll)
  Proceeds from damaged exempt property: all. 13-54-102(1)(m)
  Recoveries for personal injury: all. 13-54-102(1)(n)
  Professionally prescribed health aids for the debtor or a dependent of the debtor 13-54-102(1)(p)
  Security deposits: all. 13-54-102(1)(r)
Public Benefits Worker’s compensation benefits: all. 8-42-124
  Unemployment compensation: all. 8-80-103
  Veteran’s benefits (including spouse and dependents): all for veteran’s who served in war or armed conflict. 13-54-102(1)(h)
  Earned income tax credits: all. 13-54-102(1)(o)
  Crime victim compensation: all. 13-54-102(1)(q); 24-4.1-114
  Public assistance: all. 26-2-131
  Aid to disabled, blind, and aged: all. 26-2-131
Tools of Your Trade For persons involved in agriculture, livestock and other animals, machinery, tools, equipment, and seeds: up to $50,000 total. 13-54-102(1)(g)
  For members of the National Guard, military equipment: all. 13-54-102(1)(h.5)
  For other businesses, stock in trade, fixtures, supplies, machinery, electronic equipment, other equipment, books, and other business materials: up to $20,000 total. 13-54-102(1)(i)
  Professional’s library: up to $3,000 in total. 13-54-102(1)(k)
Wages Wages: at least 75% of weekly earnings or up to 30 times the federal minimal wage, whichever is greater. This amount includes pensions and insurance benefits. 13-54-104
Wildcard No exemption.  

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption