Colorado State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Colorado law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
$45,000 exemption for houses, mobile homes, manufactured homes, trailers,
and trailer coaches occupied by the owner.
Wages
75 percent of disposable earnings are exempt (which includes health,
accident, and disability insurance benefits).
Automobiles
One or more motor vehicles or bicycles in the aggregate value of $3,000; $6,000
if the debtor is elderly or disabled.
Other Property
$1,500 exemption for clothing; $1,000 exemption for jewelry; and $3,000
exemption for household goods used by the debtor or the debtor's dependents.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete Colorado bankruptcy
exemptions here
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