Bankruptcy in Colorado
Bankruptcy For Colorado
Bankruptcy sources
Colorado bankruptcy forms
Colorado Bankruptcy Information
Rules procedures and filing information
2010 Chapter 7-15s Bankruptcy Statistics for Colorado
2011 Chapter 7-15s Bankruptcy Statistics for Colorado
What can a Colorado bankruptcy do for you?
- eliminate your debt and calling creditors
- stop a foreclosure
- stop repossession of a car
- stop wage garnishment
- stop creditors from trying to collect your debts
- Allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe.
- prevent termination of your utilities
What will bankruptcy not do for you?
- will not cure all your financial problems
- get rid of secured debt
- secured debtors can be forced to take payments but you cannot keep the property unless these payments are set up.
- get rid of child support, student loans, alimony or criminal fines
Colorado Exemptions
Real property, mobile home or manufactured home (mobile or manufactured home if loan incurred after 1/1/83 ) you occupy to $30,000 ; sale proceeds exempt 1 year after received
38-41-201, 38-41-201.6,
38-41-203, 38-41-207
Spouse or child of deceased owner may claim homestead exemption
38-41-204
House trailer or coach used as residence to $3,500
13-54-102(1)(o)(I)
Mobile home used as residence to $6,000
13-54-102(1)(o)(II)
Disability benefits to $200 per month; if receive lump sum, entire amount exempt
10-8-114
Fraternal benefit society benefits
10-14-122
Group life insurance policy or proceeds
10-7-205
Homeowners’ insurance proceeds for 1 year after received, to homestead exemption amount
38-41-209
Life insurance
10-7-106; 13-54-102(1)(l)(B)
Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors
10-7-106
Life insurance – cash surrender value for writs issued against the insured – 25,000/50,000 13-54-102(1)(l)(A)
Child support if recipient does not mix with other money or deposits into separate account for the benefit of the child
13-54-102.5
Property of business partnership
7-60-125
ERISA-qualified benefits, including IRAs
13-54-102(1)(s)
Firefighters
31-10-412, 31-30-518
Police officers
31-30-313, 31-31-616
Public Employees
24-51-212
Teachers
22-64-120
Veterans
13-54-102(1)(h), 13-54-104
1 burial plot per person
13-54-102(1)(d)
Clothing to $1500
13-54-102(1)(a)
Food and Fuel to $600
13-54-102(1)(f)
Health aids
13-54-102(1)(p)
Household goods to $3,000 total
13-54-102(1)(e)
Jewelry and articles of adornment to $1000 total
13-54-102(1)(b)
Motor vehicles used for work to $3,000 ; to $6,000 to get medical care, if elderly or disabled
13-54-102(j)(I), (II)
Personal injury recoveries, unless debt related to injury
13-54-102(1)(n)
Pictures and books to $1500
13-54-102(1)(c)
Proceeds for damaged exempt property
13-54-102(1)(m)
Security deposit
13-54-102(1)(r)
The full amount of any federal or state earned income tax credit refund 13-54-102(1)(o)
Professionally prescribed health aids for the debtor or a dependent of the debtor 13-54-102(1)(p)
Aid to blind, aged, disabled, AFDC
26-2-131
Crime victims’ compensation
13-54-102(1)(q), 24-4.1-114
Unemployment compensation
8-80-103
Veterans’ benefits for veteran, spouse or child if veteran served in war
13-54-102(1)(h)
Workers’ compensation
8-42-124
Horses, mules, wagons, carts, machinery, harness and tools of farmer to $25,000 total (same $25,000 limit for debtor or debtor plus spouse)
13-54-102 (1)(g)Library of professional to $3,000 or stock in trade, supplies, fixtures, machines, tools, maps, equipment, books and business materials to
$10,000 total
13-54-102 (1)(i), (k)
Minimum 75% of earned but unpaid wages, pension payments
13-54-104
None
Colorado Bankruptcy Courts
Colorado District Bankruptcy Courts
