Colorado Bankruptcy Exemptions

Federal bankruptcy exemptions are not available for the State of Colorado.

There are certain possessions that can be exempt or protected from creditors when filing for bankruptcy in Colorado.

For couples filing for bankruptcy protection, each person can claim a full set of exemptions unless otherwise noted.

There are exceptions to these following exemptions that are much too detailed to list here. An experienced and qualified bankruptcy attorney can go over with you the various aspects of each exemption.


Homestead: Real property you occupy up to $45,000. This includes mobile homes, manufactured homes or house trailer. Sale proceeds exempt 1 year after received.

Insurance: Group life insurance policy or proceeds, Disability benefits to $200 per month. If lump sum, entire amount is exempt. Fraternal benefit society benefits, Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors Life insurance cash surrender value to $50,000, Homeowners’ insurance proceeds for 1 year after received, up to homestead exemption amount.

Personal Property: Security deposits, Personal injury recoveries, Burial plot for each member of family, Clothing to $1,500, Health aids, Food and Fuel to $600, Jewelry to $1,000, Household goods to $3,000, Motor vehicles or bicycles used for work to $3,000, If over 65 or disabled, motor vehicle to $6,000

Pensions: Traditional and ROTH IRAs to $1,000,000 per person, Tax-exempt retirement accounts, including 401(k)s, 403(b)s, SEP and SIMPLE IRAs, defined benefit plans, and profit sharing and money purchase plans. ERISA qualified benefits, Fire fighters, police officers and teachers. Veterans’ pension for veteran, spouse or dependent if veteran served in war, Public employees’ pensions and defined contribution plans.

Public Benefits: Crime victim’s compensation, Unemployment compensation, Earned income tax credit, Aid to blind, aged or disabled, Public assistance, Workers’ compensation, veterans’ benefits for veteran, spouse or child if veteran served in war or armed conflict.

Wages: Minimum 75% of weekly net earnings or 30 times the federal minimum wage, whichever is greater

Tools of Trade: Military equipment personally owned by members of the National Guard, Professional’s library to $3,000, livestock or other animals, machinery, tools, equipment and seed used in agriculture to $25,000

Wildcard: None.

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