Colorado Bankruptcy Exemptions

This list of exemptions updated August 2007. All law references are to Colorado Revised Statutes unless otherwise noted. Federal bankruptcy exemptions are not allowed in Colorado.

Homestead

38-41-201 - Real property up to $45,000. Property must be occupied at time petition is filed.

38-41-204 - Spouse or child of deceased owner can also qualify for homestead exemption.

Personal Property

13-54-102 - Bicycles and motor vehicles that are used to travel to work up to $3,000 (up to $6,000 if used by elderly or disabled debtor or dependent); clothing to $1,500; health aids; household goods to $3,000; food and fuel up to $600; 1 burial site per person; jewelry and articles of adornment up to $1,000; family pictures and books to $1,500; security deposits; proceeds for damaged exempt property; personal recoveries.

Wages

13-54-104 - Either minimum 75% of earned but unpaid wages, and pension payments or 30 times the federal minimum wage. The greater of the two amounts will be used.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts. Traditional and Roth IRAs up to $1,095,000 per person.

13-54-102 - ERISA-qualified benefits, including IRA's and Roth IRAs.

22-64-120 - Teachers.

24-51-212 - Public employees' defined contribution plans as of 2006 and pensions.

24-52-105 - Public employees' deferred compensation.

31-30.5-208 - Police officers and firefighters.

Public Benefits

8-42-124 - Workers' compensation.

8-80-103 - Unemployment compensation.

13-54-102 - Veterans' benefits for veteran, spouse or child if veteran served in war. Crime victims' compensation. Earned income tax credit.

26-2-131 - Aid to blind, aged and disabled as well as other public assistance.

Tools of Trade

13-54-102 - Stock in trade, supplies, fixtures, maps, machines, tools, electronics, equipment, books, and business materials to $10,000; library of a professional to $3,000; livestock, poultry, or other animals, tractors, farm implements, trucks used in agriculture, harvesting equipment, seed, and agricultural machinery and tools to $25,000. National Guard members' personal military equipment.

Alimony and Child Support

13-54-102.5 - Child support

Insurance

10-7-106 - Life insurance proceeds if policy prohibits use to pay creditors.

10-7-205 - Group life insurance policy or proceeds.

10-14-403 - Fraternal benefit society benefits.

10-16-212 - Disability benefits up to $200 per month. Entire amount is exempt if it was received in one lump sum.

13-54-102 - Life insurance cash surrender value up to $50,000. Contributions made within the past 48 months will be excluded.

38-41-209 - Homeowners' insurance proceeds for 1 year after received, up to homestead amount.

Misc.

7-60-125 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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