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 Colorado TotalBankruptcy.com 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.
» Read the complete Colorado bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.