Colorado Bankruptcy Exemptions

On this page you can find all of the exemptions for Colorado. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead sale proceeds (for 2 years)
same as homestead exemption (funds cannot be commingled)
CRS § 38-41-207
Homestead
Homestead, mobile home, or manufactured home occupied as home by owner
$60,000 or $90,000 if occupied by an elderly (60+) or disabled debtor or spouse
CRS § 38-41-201, 202
Motor Vehicle
One or more motor vehicles of disabled or elderly person or person with a disabled or elderly spouse or dependent (Elderly means 60 or older. See § 13-54-101(2.5) for definition of disabled)
$10,000
CRS § 13-54-102(1)(j)(II)(A)
Motor Vehicle
One or more motor vehicles or bicycles
$5,000
CRS § 13-54-102 (1)(j)(I)
Wages / Wage Garnishment
Disposable earnings (net earnings after deductions) - Includes health, accident, or disability insurance benefits
75% of disposable earnings OR 30 times the state or fed. minimum hourly wage per week, WHICHEVER IS GREATER
CRS § 5-5-105, 13-54-104
Insurance
Insurance proceeds from loss of homestead
same as homestead exemption
CRS §38-41-209
Insurance
Proceeds of life insurance polices paid to designated beneficiary
100% (exemption not applicable for debts of beneficiary)
CRS § 13-54-102(1)(I)(I)(B)
Insurance
Cash surrender value of life insurance policies
$100,000 (cash value increases from contributions made during previous 48 months not exempt)
CRS § 13-54-102 (1)(l)(1)(A)
Insurance
Public or private disability benefits
($3,000 per month)
CRS § 13-54-102(1)(v)
Insurance
Fraternal Benefit Society benefits
100%
CRS § 10-14-403
Insurance
Sickness and accident insurance benefits
$200 per month on periodic payments 100% of lump sum payments for dismemberment
CRS § 10-16-212
Insurance
Proceeds of annuity contract or life insurance policy in hands of insurer, if so provided in contract or policy
100%
CRS § 10-7-106
Insurance
Proceeds of group life insurance policies
100%
CRS § 10-7-205
Personal Property
Residential security deposits and utility deposits held by third parties
100%
CRS § 13-54-102 (1)(r)
Personal Property
Personal library, family pictures and school books
$1,500
CRS § 13-54-102 (1)(c)
Personal Property
Professionally-prescribed health aids
100%
CRS § 13-54-102 (1)(p)
Personal Property
Watches, jewelry and articles of adornment
$2,000
CRS § 13-54-102 (1)(b)
Personal Property
Proceeds of claim for personal injuries
100%
CRS § 13-54-102 (1)(n)
Personal Property
Necessary wearing apparel
$1,500
CRS § 13-54-102 (1)(a)
Personal Property
Proceeds of claim and avails of insurance policies covering loss or destruction of exempt property
Extent of exemption given for the lost or destroyed property
CRS § 13-54-102 (1)(m)
Personal Property
Articles of military equipment personally owned by national guardsman
100%
CRS § 13-54-102(1)(h.5)
Personal Property
Provisions and fuel
$600
CRS § 13-54-102 (1)(f)
Personal Property
Household goods
$3,000
CRS § 13-54-102 (1)(e)
Personal Property
Property of "cemetery companies" held not for profit
100%
CRS § 7-47-106
Personal Property
Burial sites for family members
100%
CRS § 13-54-102 (1)(d)
Pensions / Retirement Accounts
Retirement benefits--employees of local government
100% (support claims excepted)
CRS § 24-54-111
Pensions / Retirement Accounts
All property subject to a judgment for failure to pay state income tax on qualified benefits from a pension or other retirement plan
100%
CRS § 13-54-102(1)(t)
Pensions / Retirement Accounts
Police and Firefighters pension benefits
No limit
CRS § 31-30-1117 CRS § 31-30.5-208 CRS § 31-31-203
Pensions / Retirement Accounts
Public employee's retirement benefits
100%
CRS § 24-51-212
Pensions / Retirement Accounts
Teacher's retirement benefits
100%
CRS § 22-51-212
Pensions / Retirement Accounts
Funds in and benefits of any ERISA-qualified pension, retirement, or deferred compensation plan, and IRAs qualified under the I.R.C.
100% (child support claims excepted)
CRS § 13-54-102 (1)(s)
Tools of the Trade
Livestock, poultry, or other animals of farmer and his or her tractors, farm equipment, trucks, machinery and tools
$50,000 (may be claimed once by debtor and spouse)
CRS § 13-54-102 (1)(g)
Tools of the Trade
Library of professional person
$3,000 (may not also be claimed under §13-54-102(1)(i))
CRS § 13-54-102 (1)(k)
Tools of the Trade
Stock in trade, equipment and tools used in occupation
$20,000
CRS § 13-54-102 (1)(i)
Public Benefits
Public assistance payments
100%
CRS § 26-2-131
Public Benefits
Unemployment compensation benefits
100%
CRS § 8-80-103
Public Benefits
Workers' compensation benefits
100% (support claims excepted)
CRS § 8-42-124(1)
Public Benefits
Crime victims reparation law awards
100%
CRS § 13-54-102 (1)(q)
Public Benefits
State or federal earned income tax credit refund or child tax credit
100%
CRS § 13-54-102 (1)(o)
Public Benefits
Armed Forces pension
100% (support claims excepted)
CRS § 13-54-102 (1)(h)
Public Benefits
Crime victims’ compensation payments
100%
CRS § 24-4.1-114
Miscellaneous
Specific partnership property
100% of partner's interest
CRS § 7-60-125
Miscellaneous
Child support obligations or payments required by support order
100% (must be segregated and deposited in custodial bank account)
CRS § 13-54-102(1)(u), 102.5

If you want to learn more about filing bankruptcy in Colorado please visit our FAQ Page or for more information about Colorado you can visit the Colorado section.