Colorado Bankruptcy Exemptions

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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.

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