Colorado Economy: 

The state’s economy is diversified and is notable for its concentration of scientific research and high-technology industries. Other industries include food processing, transportation equipment, machinery, chemical products, minerals such as gold and molybdenum, and tourism. Denver is an important financial center.

Bankruptcy Court Locations:
US Bankruptcy Court
721 19th St
Denver CO 80202

Colorado Bankruptcy Exemptions:

Colorado Homestead Exemption

Filers can protect up to $75,000 of equity in a home or other property covered by the Colorado homestead exemption, such as a mobile home. The amount increases to $105,000 if the homeowner, spouse, or dependent is disabled or 60 years of age or older. The proceeds from a sale are exempt under certain conditions. (Colo. Rev. Stat. §§ 38–41–201(1)(a),(b); 38–41–201.6; 38–41–202; 38–41–207; 38–41–209.)

Colorado Motor Vehicle Exemption

A debtor can use this exemption to protect up to $7,500 in motor vehicles. The amount increases to $12,500 for an elderly or disabled debtor, spouse, or dependent. (Colo. Rev. Stat. § 13–54–102(1)(j).)

Other Colorado Bankruptcy Exemptions

  • Cemeteries and burial property. Burial sites and mausoleum spaces are exempt to the extent of one site or space for the debtor and each dependent; cemetery property used or owned by a corporation is exempt. (Colo. Rev. Stat. §§ 13–54–102(1)(d) and 7–47–106.)
  • Child and domestic support. Exempt if kept segregated from other cash assets. (Colo. Rev. Stat. §§ 13-54-102(1)(u); 13-54-102.5; 13-54-102(4).)
  • Crime victims’ compensation. 100%. (Colo. Rev. Stat. §§ 13–54–102(1)(q); 24–4.1–114.)
  • Fraternal benefit society benefits. 100%. (Colo. Rev. Stat. §§ 10–14–122, 403.)
  • Insurance benefit. Group life insurance proceeds are 100% exempt. Subject to limitations, the cash surrender value of life insurance is exempt up to $100,000 and a debtor can exempt up to $4,000 per month in sickness and accident insurance benefits during the debtor’s disability. (Colo. Rev. Stat. §§ 10–7–205; 10–16–212; 13–54–102(1)(l).)
  • Partnership property. Certain partnership property is exempt. (Colo. Rev. Stat. § 7–60–125.)
  • Pension and retirement benefits. Firefighters, police officers, and public employee pension and retirement benefits. (Colo. Rev. Stat. §§ 13–54–104 and 24–51–212.)
  • Tax-exempt retirement accounts. Exempt under federal rules, including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined-benefit plans (11 U.S.C. § 522(b)(3)(C).) For current amounts, see Your Retirement Plan in Bankruptcy.
  • Personal property. Up to $3,000 in household goods; $2,000 in clothing; $2,500 in jewelry; $2,000 in books and family pictures; prescribed health aids; personal injury recoveries except those incurred for treatment of injuries; compensation for damaged property if the underlying property would have been exempt; $600 in food and fuel; an aggregate of $50,000 for livestock and tools. (Colo. Rev. Stat. §§ 13–54–102 and 13–54–103.)
  • Public assistance. 100%. (Colo. Rev. Stat. § 26–2–131.)
  • Tools of the trade. Up to $30,000 of trade implements used in debtor’s primary occupation; up to $10,000 in a secondary occupation; a professional library up to $3,000; livestock, animals, machinery, tools, and seed owned by the person engaged in agriculture up to $50,000. (Colo. Rev. Stat. §§ 13–54–102(1)(i); 13–54–102(1)(k).)
  • Unemployment compensation. Exempt as long it’s not commingled with other funds; however, it’s subject to child support orders. (Colo. Rev. Stat. § 8–80–103.)
  • Veterans’ benefits. Exempt subject to child support and spousal support orders. (Colo. Rev. Stat. §§ 13–54–102(1)(h); 13–54–102(2).)
  • Wages. Up to 30 times the federal or state minimum hourly wage or 75% of disposable earnings per week, whichever is greater. (Colo. Rev. Stat. § 13–54–104.)
  • Workers’ compensation benefits. Exempt other than employer reimbursement and court-ordered support. (Colo. Rev. Stat. § 8–42–124.)