COLORADO BANKRUPTCY EXEMPTIONS

COLORADO BANKRUPTCY EXEMPTIONS

Use of federal bankruptcy exemptions not permitted.See CRS § 13-54-107

Type of Property

Amount of Exemption

Homestead, mobile home, or manufactured home occupied as home by owner

$75,000 or $105,000 if occupied by an
elderly (60+) or disabled debtor or spouse

Necessary wearing apparel

$2,000

Watches, jewelry and articles of adornment

$2,500

Personal library, family pictures and schoolbooks

$2,000

Burial sites for family members

100 %

Household goods

$3,000

Provisions and fuel

$600

Livestock, poultry, or other animals of farmer and his or her tractors, farm equipment, trucks, machinery and tools

$50,000
(may be claimed once by debtor and spouse)

Armed Forces pension

100%
(support claims excepted)

Articles of military equipment personally owned by national guardsman

100%

Stock in trade, equipment and tools used in occupation

$30,000
(and $10,000 for other gainful occupation)

One or more motor vehicles or bicycles

$7,500

One or more motor vehicles of disabled or elderly person or person with a disabled or elderly spouse or dependent (Elderly means 60 or older.See § 13-54-101(2.5) for definition of disabled)

$12,500

Library of professional person

$3,000
(may not also be claimed under
§13-54-102(1)(i))

Cash surrender value of life insurance policies

$100,000

(cash value increases from contributions

made during previous 48 months not

exempt)

Proceeds of life insurance policies paid to designated beneficiary

100%

(exemption not applicable for debts of beneficiary)

Proceeds of claim and avails of insurance policies covering loss or destruction of exempt property

Extent of exemption given for the

lost or destroyed property

Proceeds of claim for personal injuries

100%

State or federal earned income tax credit refund or child tax credit

100%

Professionally prescribed health aids

100%

Crime victim’s reparation law awards

100%

Residential security deposits and utility deposits held by third parties

100%

Funds in and benefits of any ERISA-qualified pension, retirement, or deferred compensation plan, and IRAs qualified under the I.R.C.

100%

(child support claims excepted)

Child support obligations or payments required by support order

100%

(must be segregated and deposited in custodial bank account)

Homestead sale proceeds (for 2 years)

same as homestead exemption

(funds cannot be commingled)

Disposable earnings (net earnings after deductions) – Includes health

accident, or disability insurance benefits

80% of disposable earnings OR 40 times the

state or fed. minimum hourly wage per week,

WHICHEVER IS GREATER



Insurance proceeds from loss of homestead

Same as homestead exemption

Workers’ compensation benefits

100% (support claims excepted)

Unemployment compensation benefits

100%

Proceeds of group life insurance policies

100%

Proceeds of annuity contract or life insurance policy in hands of insurer, if so provided in contract or policy

100%

Sickness and accident insurance benefits

$200 per month on periodic payments
100% of lump sum payments for
dismemberment

Fraternal Benefit Society benefits

100%

Teacher’s retirement benefits

100%

Public employee’s retirement benefits

100%

Public assistance payments

100%

Police and Firefighters pension benefits

No limit

Specific partnership property

100% of partner’s interest

Property of “cemetery companies” held not for profit

100%

All property subject to a judgment for failure to pay state income tax on qualified benefits from a pension or other retirement plan

100%

Public or private disability benefits

($4,000 per month)

Crime victims’ compensation payments

100%

Retirement benefits–employees of local government

100% (support claims excepted)