The references to Colorado statutes are to the Colorado Revised Statutes.
| Colorado Bankruptcy Exemptions
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| 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 |
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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 |
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Group life insurance
policy/proceeds: all. |
10-7-205 |
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Benefits from a fraternal
benefit society: all. |
10-14-403 |
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Disability benefits: up to $200
per month or all of a lump sum. |
10-16-212 |
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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) |
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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 |
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Child support: all. |
13-54-102.5 |
| Pensions |
Federal pension exemptions. |
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Veteran’s pensions (including
spouse and dependents): all if veteran served in war or armed conflict. |
13-54-102(1)(h); 13-54-104 |
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Benefits qualified under ERISA
(IRAs and Roth IRAs): all |
13-54-102(1)(s) |
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Teacher’s pensions: all. |
22-64-120 |
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Public employee pensions and
defined contribution plans: all. |
24-51-212 |
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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) |
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Jewelry and other items of
adornment: up to $1,000. |
13-54-102(1)(b) |
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Books and family pictures: up to
$1,500. |
13-54-102(1)(c) |
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Burial plot: 1 per family
member. |
13-54-102(1)(d) |
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Household goods: up to $3,000. |
13-54-102(1)(e) |
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Fuel and food: up to $600. |
13-54-102(1)(f) |
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Motor
vehicle or bicycles used for work: up to $3,000; up to $6,000 if the debtor
or a dependent who uses the vehicle is disabled or over 65. |
13-54-102(1)(j)(l), (ll) |
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Proceeds from damaged exempt
property: all. |
13-54-102(1)(m) |
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Recoveries for personal injury:
all. |
13-54-102(1)(n) |
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Professionally prescribed health
aids for the debtor or a dependent of the debtor |
13-54-102(1)(p) |
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Security deposits: all. |
13-54-102(1)(r) |
| Public Benefits |
Worker’s compensation benefits:
all. |
8-42-124 |
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Unemployment compensation: all. |
8-80-103 |
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Veteran’s benefits (including
spouse and dependents): all for veteran’s who served in war or armed
conflict. |
13-54-102(1)(h) |
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Earned income tax credits: all. |
13-54-102(1)(o) |
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Crime victim compensation: all. |
13-54-102(1)(q); 24-4.1-114 |
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Public assistance: all. |
26-2-131 |
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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 $25,000 total. |
13-54-102(1)(g) |
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For members of the National
Guard, military equipment: all. |
14-54-102(1)(h.5) |
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For other businesses, stock in
trade, fixtures, supplies, machinery, electronic equipment, other equipment,
books, and other business materials: up to $10,000 total. |
13-54-102(1)(i) |
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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. |
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