- Free Consultation: (303) 832-2655 Tap Here to Call Us
Free Consultation
Colorado Bankruptcy Exemptions
Use of federal bankruptcy exemptions not permitted. See CRS § 13-54-107
| Type of Property | Amount of Exemption |
| Homestead, mobile home, or manufactured home occupied as home by owner | $75,000 or $105,000 if occupied by an elderly (60+) or disabled debtor or spouse |
| Necessary wearing apparel | $2,000 |
| Watches, jewelry and articles of adornment | $2,500 |
| Personal library, family pictures and schoolbooks | $2,000 |
| Burial sites for family members | 100 % |
| Household goods | $3,000 |
| Provisions and fuel | $600 |
| 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) |
| Armed Forces pension | 100% (support claims excepted) |
| Articles of military equipment personally owned by national guardsman | 100% |
| Stock in trade, equipment and tools used in occupation | $30,000 (and $10,000 for other gainful occupation) |
| One or more motor vehicles or bicycles | $7,500 |
| 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) | $12,500 |
| Library of professional person | $3,000 (may not also be claimed under §13-54-102(1)(i)) |
| Cash surrender value of life insurance policies | $100,000 (cash value increases from contributions made during previous 48 months not exempt) |
| Proceeds of life insurance policies paid to designated beneficiary | 100% (exemption not applicable for debts of beneficiary) |
| 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 |
| Proceeds of claim for personal injuries | 100% |
| State or federal earned income tax credit refund or child tax credit | 100% |
| Professionally prescribed health aids | 100% |
| Crime victim’s reparation law awards | 100% |
| Residential security deposits and utility deposits held by third parties | 100% |
| 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) |
| Child support obligations or payments required by support order | 100% (must be segregated and deposited in custodial bank account) |
| Homestead sale proceeds (for 2 years) | same as homestead exemption (funds cannot be commingled) |
| Disposable earnings (net earnings after deductions) – Includes health accident, or disability insurance benefits | 80% of disposable earnings OR 40 times the state or fed. minimum hourly wage per week, WHICHEVER IS GREATER |
| Insurance proceeds from loss of homestead | Same as homestead exemption |
| Workers’ compensation benefits | 100% (support claims excepted) |
| Unemployment compensation benefits | 100% |
| Proceeds of group life insurance policies | 100% |
| Proceeds of annuity contract or life insurance policy in hands of insurer, if so provided in contract or policy | 100% |
| Sickness and accident insurance benefits | $200 per month on periodic payments 100% of lump sum payments for dismemberment |
| Fraternal Benefit Society benefits | 100% |
| Teacher’s retirement benefits | 100% |
| Public employee’s retirement benefits | 100% |
| Public assistance payments | 100% |
| Police and Firefighters pension benefits | No limit |
| Specific partnership property | 100% of partner’s interest |
| Property of “cemetery companies” held not for profit | 100% |
| All property subject to a judgment for failure to pay state income tax on qualified benefits from a pension or other retirement plan | 100% |
| Public or private disability benefits | ($4,000 per month) |
| Crime victims’ compensation payments | 100% |
| Retirement benefits–employees of local government | 100% (support claims excepted) |