Colorado Bankruptcy Laws & Exemptions
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Colorado Bankruptcy Laws

Filing Chapter 7 and Chapter 13 Bankruptcy in Colorado

If you are considering filing bankruptcy in Colorado, Total Bankruptcy can provide you with basic information and put you in touch with a bankruptcy lawyer near you who may be able to help you reach a decision.

Armed with the facts about bankruptcy, you may be better able to decide what is best for your situation.

To speak with a local Colorado bankruptcy lawyer, fill out the free bankruptcy case evaluation form on this page or call 877-349-1309. To read more about Colorado bankruptcy law, read on.

Free Case Evaluation

Learn More about Chapter 7 and Chapter 13 Bankruptcy

Although you may already have some information about filing bankruptcy in Colorado, your Colorado bankruptcy lawyer will probably begin by asking you important questions about your debts, assets, and financial goals.

Your answers will help determine if you should file Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 bankruptcy is often referred to as "liquidation." The bankruptcy trustee in Chapter 7 bankruptcy cases may opt to sell any non-exempt assets you own. The plus side is that most often, people who choose to file Chapter 7 bankruptcy do not own any non-exempt property. In many Chapter 7 bankruptcy cases, many unsecured debts can be discharged and there is no liquidation.

One of your first tasks when filing Chapter 7 may be to ask your attorney which and how much of the items you own may be exempt from liquidation.


  • Up to $60,000 for homes occupied by owner and owner’s family.
  • Up to $90,000 for homes occupied by the elderly or disabled; spouse of the elderly or disabled; or homeowner with elderly or disabled dependent.


  • 75 percent of disposable earnings, includes health, accident and disability insurance benefits.


  • Up to $5,000 of your equity in all vehicles or bicycles. If the debtor is elderly or disabled or has an elderly or disabled spouse or dependent, up to $10,000 in equity of all vehicles and bicycles is exempt.
  • Up to $10,000 of equity in vehicles and bicycles if debtor is elderly, disabled or has an elderly or disabled spouse or dependent.

Personal Property

  • Up to $1,500 in necessary clothing for you and each dependent.
  • Up to $2,000 in watches, jewelry and other articles of adornment for you and each dependent.
  • Up to $3,000 in household goods.

Chapter 13 bankruptcy is usually called "reorganization." By filing Chapter 13 bankruptcy you may be able to keep most of your property and create a three-five year debt repayment plan to catch up on your past due debts.

If filing Chapter 13 bankruptcy is your best option, one of the first things you will do is create a proposed repayment plan for your debts.

The Importance of a Colorado Bankruptcy Lawyer

Colorado bankruptcy laws are complex and very specific. It is natural that many people often feel confused or overwhelmed by all of the details. Talk to a local lawyer about your filing bankruptcy options.

Your attorney will likely explain the bankruptcy process in detail and clear up any confusion that you may have about your bankruptcy case.

We make it easy to connect with a local bankruptcy lawyer at Total Bankruptcy. Simply fill out the free case evaluation form on this page, or call 877-349-1309 and we’ll put you in touch with a Colorado bankruptcy lawyer near you.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.

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